Thank you COOL!!! I love it when a plan comes together and I’m going to start working double time to find more of those gap and run trades for us. It’s easy money and they happen every single day, just takes a lot of time to find less obvious opportunities unlike the Zynga IPO relation to COOL. Anyway, let’s have a look at what’s open heading into tomorrow. And remember, we are off Monday for Memorial Day.
COOL was more than cool to us. Alerted my 10k buy at $2.65 Wednesday around lunch and sold today for about $2.98 per share. Once Wall Street picked up on GLUU moving on the Zynga IPO it was just a matter of time before the connection to COOL would set in. Boom, instant catalyst! Once COOL was up 5% I knew it was time to move in for the kill. A Seeking Alpha article hit at close and the game was on, perfect timing. The gap and run this morning took us over $3.00 per share in the first 10 minutes for an instant score. If you didn’t get the text message, it’s worth it to be on that list, email me and I’ll give you the sign up form again.
USAT ran today as well so I sold for a very nice profit and bought back once it showed strength around $2.50 a share. The chart is very good and we’ll discuss it in class tonight. My goal is $3.00 but you know me, if it moves 10% I’ll probably take it. My new average on the buy back is 5k shares at $2.53.
MOBI, MOBI, MOBI!!! Here is a stock I just can’t seem to get my timing right on. Today I sold half my position on the way down to protect myself, then it runs over $9 so I buy the 2k shares back at $9.05 and what does it do… fall to $8.85 at the close. When it ran to $9.00 I was green on the entire trade but now I’m down $1k again, argh!!! Anyway, I dropped the average up around $8.80 so now I only have 2k MOBI at an average of $9.05. The only upside is the chart looks great and that alone will probably bring buyers in tomorrow morning, especially because shorts will not want to hold over the 3 day weekend. My hope is price breaks $9.20 resistance and runs well into the $10 range before I sell.
PAL had decent news and didn’t hurt us today. I still have 2.5k at $3.55 and my goal remains $4. Boring trade I know, won’t argue that, but I still have hope it’ll move so I’m not getting hurt holding on. Chart is starting to shows signs of life slowly creeping toward that $3.80 range.
GSTP is looking solid if you ask me. Remember when I first alerted it there was little to no volume. 75k shares at an average of $.153 and I’d like anything between $.20 – $.30 here. While it’s not a Mona Lisa, the chart is certainly creeping up with decent size bids at $.15 meaning less and less are looking to sell here which is a very good sign it could start to move.