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25 May

Thursday May 26, 2011

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Lots of action today and it should make for an exciting Thursday. I’ll detail my open positions from oldest to newest.

75k GSTP at $.153

GSTP traded 751,149 shares today and had hits in the $.20 range which is a good sign it’s starting to get active. I was on the bid all afternoon for 25k more at $.14 but no luck. I have 50k shares at $.165 in the main account and 25k shares at $.13 in the challenge account. I’ll try to add another 25k tomorrow if I can get it anywhere around $.13 – $.15. I know a lot of you sold today for profit so congratulations but I’m still looking for $.25 – $.30 per share on this one.

2.5k PAL at $3.55

PAL is like a bloody thorn in my side, it won’t stop me out and it won’t run to $4 so I’m stuck in another short term trade. I have 2.5k shares at $3.55 and I’d still like to see $4 on this one before unloading – day to day decision. Shares hit $3.69 today but again couldn’t sustain a meaningful run.

4k MOBI at $8.84

MOBI started to turn today and it’s been on my watch for quite some time. I hate to try in predict bottoms so when it turned today I wanted in and grabbed 2k at $9.05. When I sent you the alert I said I’d add on a dip and that’s what I did so now I have 4k shares at $8.84 with a goal of $.50 per share.

10k COOL at $2.65

COOL was added at $2.65 because I felt it could be starting a run. It’s been on my watch and I like the chart here so hopefully we’ll see some continuation tomorrow. This went out in chat, midday updates and by text but I was having an issue with email. We have scored big on this stock before and I’m hoping to do so again, I think COOL could run on the Zynga IPO coming soon.

5k USAT at $2.39

USAT is one of my favorite stocks to trade and we’ve cashed in on it before. It gaped up this morning and got very active near the close. Since I bought this right at the close, there was only time to put it out in chat. I’ll add 5k to my position if my entry was correct with a $.50 per share goal.

 

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