When the market opened I had a strong feeling QPSA would continue to squeeze and bought 3k shares at $7.85. The one minute chart reveals it failed to squeeze right off the bat so I sold half my position for a small loss immediately. Then it took off like a bottle rocket to $8.47 and my remaining shares were up about $1k. It proceeded to restest the open around $7.90 so I gave up and sold even. Turns out I was right all along though because QPSA ended up running over $9.00 which would have equated to an easy $3k gain at $8.85… but as the saying goes, hindsight is 20/20 and honestly, because it failed to head up right away I believe I made the right trade move.
After that fun was over I picked up 5k shares of IGOI at $2.92 and alerted you immediately. Many of you probably saw better prices as it dipped during the alert process. Later on I grabbed 5k more at $2.99 and expect this to be a nice short term trade into earnings on May 5th. As always, not sure I’ll hold into earnings but we’ll see as it draws near. New average is 10k shares at $2.96 with a 10% goal of $3.25.
While I don’t average up often, I felt I needed to grab 5k more of AVVC at $1.43 because I’ve confirmed, for the first time since LEXG, there is a massive budget behind this stock to the tune of $1m (click here if you missed it). I now have 10k shares at $1.39 and would love to see $1.60 or so on this one. As many of you know I jumped ship on ALZM and LEXG way too early so I’ll try and be more patient here but understand that’s not my strength with these types of stocks… they simply can’t be trusted. If shares move 10% more I’ll start to feel safer with some cushion between price and entry. Probably looking for more like 20% on this trade based on how ALZM traded.
Still sitting on my bid buy CMCI and am hoping to see that one pick up soon, obviously no liquidity to do anything with right now which is why it wasn’t an alert. Finished the day picking up MXMI on the bid and have my full position still. It took flight way faster than expected this afternoon. Chat and text got the alert around $.02-$.021 before it ran to $.0252 but by the time I could get the email out it was already flying. This is why I don’t alert many small pennies but they can be loads of fun when you catch the right one. Price closed at $.0225 almost as if someone walked it up so my guess it we’ll see a gap tomorrow morning. This is simply a momentum swing trade into tomorrow if all goes well.