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3 May

Tuesday May 3, 2011

by

Good morning everyone! I had to get some sleep last night, I was so exhausted I couldn’t look at the screen anymore.

Here is the technical analysis video for these trades.

CMCI – $1.60

Yesterday I sold 5k CMCI at $1.45 from the ‘Challenge’ account for $730 in profit from my $1.30 entry Friday. If you’re new, the ‘Challenge’ account is my attempt to take a normal trading account with a starting balance of $7,088 and turn it into a pattern day trading account above $25,000. CMCI was the first trade since the challenge began last week. This is a conservative trading account in that I’ll make much fewer trades to give myself the best chance of compounding the money quickly.

I still have 5k shares of CMCI in my main account after selling 5k of the total 10k at $1.63 into the bullish close. Liquidity continues to be less than desirable but as suspected the stock is getting more and more traction. The completion of this trade won’t show on Profit.ly until the final 5k shares are sold. Remember I first caught onto this stock when the bid / ask was $.60 x $1.10. You can research my thoughts on CMCI from start to now by searching the ticker on the homepage, it’ll pull all my posts with the ticker in it. Anyway, today I’ll be watching for continuation and hoping to take profit at some point.

EXAR – $6.34

They report earnings Thursday 5/5 after close – I may actually hold into this earnings report.

Picked up 3,400 shares of EXAR on the early dip yesterday. Exar Corporation designs, develops, and markets analog and mixed-signal integrated circuits for use in communications and video and imaging products. I’ve been following it for quite some time every since billionaire George and sons started accumulating shares.

My timing on the entry was almost perfect yesterday as it sold off into the news after gaping up. Never buy the first run after a gap, it’ll usually always take profits. If you check the one minute chart from yesterday you’ll see what I mean. Entry is critical when buying stocks and by far the most important thing you should study if you’re new. Mental stop on EXAR is $5.67 with a short term goal of 10-20%. Ideally I’ll sell around $7.20 in the short term for about 15%.

ANIK – $8.75

First off, this was a late day add that didn’t go out by alert because it’s outside the business models price range. But I include it here in case you like to play some stocks between $5 and $10. If you’re new, trust I don’t go above $5 often and it’s odd to have done it twice yesterday but I am a firm believer in taking what the market gives me. I bought 2k shares at $8.65 as a short term trade.

ANIK reports earnings tomorrow, Wednesday 5/4 after the close. I’m not sure if I’ll risk holding through earnings here but I’ll keep you updated. They develop, manufacture and commercialize therapeutic products for tissue protection, healing, and repair.

This is a short term trade for me based on a possible run up today and tomorrow because the last time they announced earnings in March it ran into the $11 dollar range or over 20% from my entry at $8.65. I’m expected a good report this time too but obviously that’s just speculation.

Biotechs are more volatile than penny stocks, so if you’re going to consider ANIK, know what your getting into with FDA rulings etc… earnings trades are volatile, add in a biotech and you have the recipe for hero status or disaster.

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1 Comment

  1. dale henderson

    HEY JASON I AM NEW TO THIS SO IF YOU MAKE A RECOMONDATION COULD YOU PLEASE LET US KNOW IF YOU WATING FOR A CERTAIN BRAKE PRICE THANK YOU DALE JUST A OLD LOGGER FROM BC

    Reply

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