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EVPH: I put half my position on a trailing stop of .07 points. Got stopped out of that half at .38 when it was bouncing around on a plateua. Still holding the other half.
I don't care though. That was my risk/reward. Very risky pink that had a lot of potential reward.. but risky anyway. My outcome is that I'm not running on freebies, but I got out a large chunk of my principal in that move.
Sad story though. I was hoping for a lot more from EVPH. I still think it has a good fundamental story, but the company has just been silent.
MPG up 4%. LOL
FTK: Great Googly McGoogenheimer!
Can't even? +9% is fine with me on a down day.
Yea, it got laughed under the table.
In WNR @ 8.44
Scottrade stops taking AH orders at 8PM ET. >:| Going to try to get in tomorrow in PM, but I'm not too worried about missing my chance at a good entry.
I'd expect essentially a reverse island. It's had 3 days below exhaustion gap, 2 days close together forming a bottom. I'm guessing tomorrow will be a gradual up, and maybe by Thurs or Friday it'll gap up if it has momentum, or at least continue a nice trend up.
Ooh! Beautiful find! Breakout gap... exhaustion gap. Previously a nice trend in place.. drop had a fundamental cause, but one that net-net is positive for the company going forward...
Going to liquidate some of my MPG and ONT toward opening a position in this one tomorrow.
That's old data, by half a month. Wait until tonight to run it again. Short interest should be posted by tonight or tomorrow.
(Note record date, 2009-MayB. People don't seem to realize this information is only reported twice a month. See here for the dates. http://www.nasdaqtrader.com/Trader.aspx?id=ShortIntPubSch )
Excellent. :)
Twas an awesome day short PALM and GLD!
PALM puts - holler like a baller. Or something.
14 in AH? 30% short interest? I think this thing just had a short squeeze. Phone releases this weekend.. major hype activity. Going to try to score a few July 10 puts if I can get em for cheap. Even if it just pulls back to the 20dma I'll be able to sell half a position to ride the rest of the contracts as freebies.
It did surge up big today on volume, so I'm only going to put maybe 300-500 against it.. but it could pay out well.
MPG: cautiously optimistic. I reduced my position by 40% recently, so with my lesser exposure I'm willing to sit on it for a while, so long as it conforms to my original plan.
Hm, ROC and PPO - nice comparisons. FTK is especially similar to ROC in terms of some of their ratios. If you look at the 1yr for those, they follow close until about March.
I think FTK didn't ride up like ROC did because of the management issues and because they're so much smaller. PPO on the other hand is between them in size, but had a decent quarter. Reduced profits.. but profitable.
FTK's first quarter was rough. They were profitable last year, but in Q1 their income fell off steeply and they had a per-share loss of .10 compared to a .17 eps upside a year earlier.
If FTK can post a good 09Q2, this thing could really fly.
Well, if you go to here and click "1Y" on the chart, you'll see it does kinda track the sector. http://www.google.com/finance?q=ftk+dd
However it dropped comparatively really hard in October compared to DuPont. What I found was that the CFO "resigned for personal reasons" on Aug 5, which caused the stock to slide. "Stewart is the second financial chief LHC Group lost in two years. He was made the CFO in June last year after his predecessor Barr Brown left the position." The slide was exacerbated as the economy continued tanking in October. http://www.reuters.com/article/companyNews/idUKBNG1355120070815?symbol=FTK.N
They've also got notices from the NYSE because their market cap is under $75m which isn't helping, but shouldn't hurt them too bad.
Anyway, what got me into this thing was that they're up a good amount from their lows, they've been trading in a decent range for a while that should mean we have some support under us, and they've been beaten down enough that there should be a good amount of upside potential, and their balance sheet in terms of debt load looks very manageable.
FTK bought a company in 07 that specializes in chemicals related to natural gas drilling and salt mine storage.
Earlier today UNG the natural gas ETF dipped hard on storage numbers.. but it recovered, and eventually closed up. FTK, comparing the two, dipped at the same time, but not as much, and recovered a lot faster.
So apparently while they're levered to nat gas, it's not too extreme... and that's something I'm very glad to see. Natgas is a bit volatile this year.
FTK: headwinds from natural gas storage numbers
Good stuff - I bought GLD puts on 6/1. I'm happy right now. :)
Moved 40% MPG position to FTK
Yep yep, the strangle is awesome. All you need is momentum. Up or down, who cares! I need to start doing more spreads and combinations personally. Too often I'm just in the mindset to place my bet in one direction, or to sell out of a position. I had APVGE calls at 6.7.. sold at 9.9 happy. Watched it ride up to 15 bucks without me on it. Doh. I had bought puts, but sold out of them quickly for a minor profit on a dip.
I *should've* just let that APVGE ride, and when I thought it might be getting too high, bought that put. Then I woulda essentially frozen in my gains, and then let that put ride to zero while letting profits soar, or realize apple was gonna continue to rape and sold those puts closed until I thought it was near a top again.
It's mostly a result of me trading from the hip. I make fast money that way, but I don't do myself any favors. When I plan my trades, I usually don't make money as fast... but I seem to generally come out with good gains and few losses. Except its not as fun and I can sometimes become VERY impatient. I'm sure you can relate with how watching up/down 2-4% can get tiresome when you're used to watching options buck double-digit percentage moves like they do.
LOL yeah. options are amazing eh? I was doing a little mental masturbation a week or two ago, thinking about how if you threw $20K on, for example, Apple 130 July calls in early march, you'd have $5 million right now.
Options can unlock MASSIVE wealth, but they have risk. I'm really hoping that my WAMPQ holdings turn to gold.. if they do, I'll have a little bit of speculating money. :)
Hm, I wish I would've looked at this one more closely earlier. Just took a quick browse of the balance sheet. Not bad at all for a micro cap.
MPG: *great* volume, very tight range. Bull/Bear deathmatch!
MPG: I think the market is still absorbing the news. First, the sale is good because it cuts down MPG's debt load. However, they sold it for $40mn under book since it was underwater due to LA real estate market, so that $40mn impairment charge hurts shareholder equity.
I think though, MPG handling their debt problem is more important - it affects their future viability, which is why they're trading under book.
So, I think today's news is going to create stronger support around 1.05-1.15, which is good. The more downside support this thing has, the better the potential for an explosive rally once people are more comfortable the bottom's not going to fall out. (Of course, got to get in while there's still fear if you want that nice basis we have here.)
EVPH, jeez. Doesn't take any volume to drop this thing. Very tempted to add with these prices, but I've got all my spare powder in ONT and MPG.
Yeah, probably. Or those people that bought .91-.93 took advantage of their 20% pop and are schnitzeling. They're probably the same big fish that were shorting this thing pantsless last week.
lol, GEAUUXXXXX MPG!!@!! (Sorry, professor fish) :D
ONT: Glad I upped my position at .42!
Im definitely going to get an account on stockseasonality in the next few months. It'd be worth the money to have a lot of that homework and scanning done in advance. Like you said Ken, if the market is strong on a given day, the right picks will usually outperform the market in general, and sometimes even rock out even if the market as a whole is soft.
Probably gonna see about an account in August. Right now I'm just being really miserly. Closing on a house near the end of this month, and going to be cash strapped for at least a month until after then.
I have that one practically tattooed on my forehead!
MPG: Already back up, but really it's irrelevant (even if nice, and it does provide a little breathing room.) The important thing was that we closed at or above .97. Closing below that would've violated the chart, and there would've been a lot of technical traders dumping the stock, regardless of the underlying company.
Today we were down at one point by almost -14% Closed -1%. That's what I call a big shake-out!
LOL
MPG: Hooah! Great close!
Cmon MPG, get above .97!
I agree re. averaging down EXCEPT that you shouldn't average down past your risk tolerance. Don't get overexposed in something just to get a better cost-basis.
MPG: Crescendo of selling at .92? The volume to me, and the amount of time we've spent at .91 almost.. ALMOST has me thinking the worst of the capitulation is over...At least, for today.
This might make a decent entry point for someone who doesn't already have a position, or only has a starter position and wants to scale in.
Of course, this is all intraday. If we close around these levels, there's no guarantee the selling doesn't just continue on.
MPG: We really need to close at or above .97 today. The next support under there is .68-.84, with the stronger support at the .68 level, not the .84 level. We're hanging right at the red zone.
This thing needs to have a strong afternoon, otherwise we've got problems.
GGWPQ is a MONSTER. Sold mine @2.08. Doh.
The SEC counts that as two, so its across-the-board.
ONT *should* bounce off the previous resistance of .38. I sold half my holdings at .61 from .345, and then added at .4299. My average is currently right at .385. Hope we see some action!