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3 Aug

Thursday August 4, 2011

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Heading into Thursday I have 2 open trades. I’ll be back in town soon so look for my regular alerts to start back up next week. Sorry I missed a few days, next time I vacation I’m just going to take the week off completely because trying to work and vacation isn’t fair to my family or my subscribers. There is no good time to vacation when running an alert service lol – the markets never take a week off. Thanks to all of you who supported my time away.

Shorting inflated stocks – I love it!

Still no luck on BERX moving up the chart so I’ve thinned my position out just a bit. I’m still hoping for it to run but 55k shares is too big a position now that it’s become illiquid. So today I took a small portion off the table at $.62 leaving me with 47,125 shares, most of which I’d like to sell in the $.70’s which is where my orders are now. I was up over $3k I think on this one and once again it’s an example of breaking my own rules. I know a lot of you took profit but for those who didn’t, we need to follow rule #1, take profits when profits are there.

The other swing trade I’m working on is GRHU. I’ve been bidding $.81 and now have about 7k shares. Small position on this one, just want to get about 10k shares down here in hopes that it gets some promo soon. I’m not going to chase this cause the spread is wide, $.81 is my goal and that’s what I’ll continue to try and fill.

 

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