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19 Aug

Friday August 19, 2011

by

I’ll be trading today but it’ll be a bit choppy because I need to run to the DMV around 10am EST. Right now futures are getting hammered again as I suspected so it doesn’t look good guys. Be ready for shorts, maybe a few select longs. I won’t be trying to guess bottom now that we’re testing recent lows, just too risky.

Longs

PPRTF is a bid buy swing trade. I’m in at what I think is good support and I’ll wait for the next volume surge to take profits. Just like we did yesterday on GRHU.

GLUU just hasn’t played well, nailed it last week for solid profits but this week it’s been a whole different beast. Adding 3k yesterday at support, sold 3k yesterday when markets looked like they could really plummet. $2.80 is support, if this thing falls hard then I’ll just take my loss and buy back later.

OXGN was an earning alert from a few weeks ago. With the general market downturn and no real reason for buyers to come on board it’s losing support at $1.40 which means it’s almost time for me to move on. If they don’t put something together today, this will be a swing gone sour.

Shorts

None to report on

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