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Bernard- check out PRGN, strong short at $19.5 imo....
Muel:
No problem, I just ordered it this weekend, so I should get it by mid-week....
Thanks for the MMCI feedback Bernard! If there is news as rumored tomorrow morning- it should fly a bit more... Been looking at the boards and it is generating some buzz...
May sell 1/2 my position at the open to protect some profits!
BTW- just signed up to Metastock- can't wait to get the software mailed to me this week.... Should help me alot with my trading!
Thanks again Bernard!
Here's to a profitable week ahead!
-Dave
Bernard,
Any thoughts on MMCI? Looks like it could run like UAHC did....
Small float, positive earnings....
Picked some up on Friday- MyTrash screwed up my buy order for .20, could've made 50% really quickly as the bid ran to .30...
I let my emotions get the best of me and chased it- got in at .30....
If it gaps down on Monday, I will be out...
I'd appreciate your feedback on this one Bernard...
Thanks!
-Dave
Bounce alert: HAND at $11.5- looks like lots of accumulation going on at these levels... Be careful though!
HAND at $11.5 may be good for a nice gain today.....Lots of accumulation going on now...
Played PLMD up and down again this morning.... I love this market!!!!
Arch, I shorted it one last time from $23 3/4 to $22 7/8.... I am done trading for the day- my head is spinning!
Yep, that is the link I am referring to: Also look at posts made by Jamesbon- he is a very good t/a person as well....
If you look for all posts made by techtrader, you will see a webpage that he has where he posts a bit more as to the reasoning behind his T/A.... He has been very on point with his T/A on the Dow and NAZ.... He usually posts once a day- usually late at night...
I gotta go!
Take care Arch!
-Dave
PLMD has been a daytrader's dream stock today... I've made some really good $$$ on it today.... There is still time to play it before the close.... You should do well trading this one Berard!
Good luck!
-Dave
Arch, PLMD has been a daytrader's dream stock today... I have been making serious $$$ on it... These plays don't come around too often... I think I will call it a day because my eyes are bugging out from watching Level 2 all day on that stock...
Thanks for your kind words, Arch! I will make sure to check out your new board....
By the way, I urge you to check out www.clearstation.com
Check out posts on the Nasdaq composite made by Techtrader and Ernie2K... These guys have been very accurate with their T/A on the NAZ... It has helped me immensely with my trading...
Good luck!
-Dave
PLMD-stay out of it... I went short and made a couple points after selling for a 1/8 loss... MMs wouldn't let it go past $25 1/4, a sign it was going to drop hard.... Covered my short at $23 7/16.... Most of the $$$ I've been making in this market has been through shorting....
Arch- PPRO looks dead until the NAZ fully recovers.... I thought I found a PPRO successor in AVCI, but that looks like it will follow PPRO's fate and drop below $10 soon...
I began posting at my MOMO thread again, so stop by when you get a chance!
Good luck!
-Dave
Sold PLMD for 1/8 loss, went short.....
PLMD, excellent daytrade.... $25 now- looking for $27-$29 intraday... Small 10 million float and 3 million volume in first 50 mins of trading...
Good luck!
PLMD moving at $25- small float and high volume... Target $27-$29 within the day....
Hey Bernard,
I've been doing my fair share of daytrading too recently and amazingly, like you said its been very simple.... I've had lots of success with JNPR, MLNM, and AVCI.... JNPR and MLNM seem to move big up or down whenever the NAZ makes a move- so it has been easy buying low, selling high and then shorting into any rally as you said...
AVCI looks dead now- so I would be careful..... I shorted it again at $14.31 today, but after I had to make a short request, as there were no shares left to short... Last time I was aware of that happening with a stock was with PPRO when it was at $15- two weeks later, and it hit $5.40... So maybe when this little NAZ rally fizzles on Monday- AVCI will begin its hard slide down... But you never know- so I have to keep my eye on that one because a big squeeze could send it to $20 in a hurry.... I doubt that will happen soon though...
I am loving this market and am hoping that it stays this way for awhile....
I'm going to begin posting at the MOMO board again soon... Most of the plays will be daytrades..... Please stop by and we can discuss our plays...
Good luck Bernard!
-Dave
PPRO has been hammered... Made some money on it a couple days ago... Will stay away from it for awhile unless the NAZ begins to turnaround or the company releases some amazing news....
It's something to see ARBA at $10 and CMRC below $10.... Looks like ITWO at $16 may be headed to those levels too- so it may be a good short....
I recently began trading AVCI- it behaves like PPRO used to- you may want to check it out.... I shorted it at $16 1/4 yesterday, but may cover soon and play it up for a couple quick points....
Have you still been swingtrading the techs? I know you were on fire a few weeks ago!
Regards,
Dave
Loaded up on PPRO at $7.25.... Positive reaction to FED cut could send it over $10 in a hurry.... Set my stop at $6.93 just in case...
PPRO alert: $7.25..... Time to load up! Put a stop loss at $6.93... If FED cuts .50 or more, this could shoot to over $10 in a hurry...
Good luck!
Things don't look so hot for PPRO, that letter only adds fuel to the fire for shorters.... Look for a rise above $11 tomorrow morning... If the NAZ loses steam, this could drop back below $10 quickly.... I'm looking for a new 52 week low on PPRO soon....
Hi Bernard,
Haven't been doing much trading recently, but I did notice JNPR rose 20% today on no news.... I am thinking of shorting some tomorrow, as I don't expect the NAZ to sustain today's movement for the rest of the week.... What price do you think is good to short it? I'm thinking somewhere between 62-65 personally....
Thanks in advance,
Dave
Good to see you here Bernard! This is a very informative site- you should check at Poet and Toscano's board at SI too...
I bought myself some more March 25 SUNW calls at 1/8 yesterday and just sold some at 3/8 bid for a 300% return in one day... I am starting to like the options game and plan on doing some more trading in the near future...
I believe the NAZ will rally nicely into tomorrow but would expect a selloff by late tomorrow in anticipation of the economic numbers on Friday... I plan on holding some cash perhaps buying some April or July calls on some beaten down tech leaders during the next big drop... I will be careful though...
I feel that with you excellent charting ability that you should have some good luck with options trading...
Best of luck!
-Dave
Anybody watching PCBM? Moving fast .185 now.... Sure wish I had picked some up in Dec. at .04...
Hi Poet,
Thanks, hopefully the NAZ will sustain its momentum tomorrow morning... Right now NAZ futures are up over 20 so I am eagerly anticipating the trading day...
My thinking is that the Herd effect will be in full play tomorrow as many investors/speculators are anxiously waiting to jump on beaten down tech stocks in hopes of the rate cut....
Should lead to a very nice day tomorrow that may extend into Tuesday... I am planning on selling into the rally and believe that many will be doing the same...
I'm glad that I bought the SUNW calls when I did- seems like I may have gotten lucky....
Good luck with BEAS- seems like you made a good move...
-Dave
Excellent links Toscano! I agree with much of the analysis given by the two posters at prudentbear.... It is amazing how people refuse to accept any notion or inkling that the worst may be yet to come with respect to our economic downturn...
I think one of the problems is that people let their egos get out of control... Many people get lucky with the outragous speculation we saw in the 90s and they subsequently thought they were market geniuses...
An uncle of mine bought some Cisco shares last year based on some advice from a friend-and got lucky, as the shares doubled and then split...
This guy never did any investing before and all of a sudden he thought he knew everything about the markets... I remember watching a John Chambers interview with him on CNBC and my uncle thought that after the interview, Cisco was going to double within a month and split again! It was ridiculous how some luck messed up his sense of reality... At the time, I remember reading how Cisco had been up over 50,000 percent during the 90s... It didn't take much thinking to figure out that that baby had to come down eventually and hard at that....
Regardless, these next few weeks are going to be crucial for the markets..
I will be selling into any rally we may have this week....
Thanks for the informative posts!
-Dave
I appreciate your input Real Poet and Toscano...
I kept my eye on SUNW's movement throughout the day and around three oclock, I decided to take the plunge and buy some March 25 calls at 3/8... I get in right before all the hype about a possible rate cut next week... So it appears as if I may have timed the buy right...
On Thursday, the call moved from a 7/16 ask to 11/16 bid for close to a possible 50% gain by the end of the day on just a 1 1/2 point move on SUNW's stock... So my thinking is that all we need is one nice move by the NAZ and SUNW this upcoming week and this call could atleast double...
Hopefully we'll get a decent week for the market.... Either way, this will be a learning experience for me.......Hopefully, it will be a profitable one at that!
Once again, thanks for all of your help!
-Dave
I really appreciate your feedback Toscano! Thank you very much for answering every question I had listed...
I spent some time last night at the optionetics.com website learning some more...
I have one last question: Say I buy 1 contract of a March25 call of SUNW whose ask price is 1/2.... And then the call rises the following day to over $1 with a bid of $1... Does that mean that I can sell the call for a 100% gain without having the exercise the call for the current trading price of price?
Once again, I'd appreciate your feedback!
Thank you
I'd like to learn more about options trading and what these CBOE statistics mean...
I'd appreciate it if you could let me know of an informative website or resources that would help me learn...
I believe that now is an excellent time to position oneself with some calls of beaten down tech leaders such as MO and SUNW...
But since I have never done any options trading, I want to make sure that I am as knowledgable as possible before doing so..
I'd appreciate your help!
Thanks
-Dave
MOMO Thread
Thanks for the recommendation Doug S, its amazing how quickly those calls move.... I will do my research on the MOT April calls you mention here...
Good luck!
LOL, thanks Arch... Bought PPRO again at $12 3/8 and it is now a bit over $13... I will hold till tomorrow- am expecting a nice NAZ rebound.... Believe me though, I took my loss on PPRO from last week, so now it's payback time!
Good luck!
Sold PPRO $12 3/4, waiting for dip back to high $11s to re-enter...
Got me some PPRO at $11 3/8 this morning! Looking to sell at $12.5-$13 today and buy back around $12...
Thanks for your feedback Bernard! You may be right about buying the stock and writing the covered call- I was up last night looking up for more info on options and writing calls seems like the least risky way to play the game...
Looks like the NAZ may show some strength early today, but I don't expect it to last- looking for SUNW to make a new low today.... If so, I may take the plunge and buy some and then write a covered call....
Will also be on the lookout for a nice MOMO play on the pennies- I missed out on JANX yesterday......
Good luck today!
-Dave
Bernard, where do you see support for SUNW? I'm thinking $16....
There is a March 25 call selling for 7/16 a contract.... I'm giving that call some very serious consideration...
I never played options but when PPRO was trading at $11.5 the last time the NAZ was at these levels, I was going to buy a Dec20 call at 1/2 but hesitated... The next day, the NAZ rallied hard and the call was trading at $2... I missed a 400% gain...
The SUNW March 25 call doesn't expire till March 16th- so I plan on taking a gamble tomorrow, hopefully with SUN dropping some more...
Tell me what you think...
-Dave
I wasn't aware of this Arch..... If this gains more publicity, RMBS may not be a bad short..
Been away today, when I left home this morning, the NAZ was up over $20, I come back and it is down 50... Things aren't looking so good.
I'm thinking of buying myself some options on SUNW... There is a March 17th call selling at only 7/16... When the market rebounds, this may be a big gainer- something like a triple bagger..
Last time the market was hammered like this in early December, I was going to buy some PPRO calls at 1/2 when it was trading under $12... The next day, the market rallied and the call rose to $2... Could've been a 400% gain in one day...
I will watch SUNW closely tomorrow and am kind of hoping it drops around $15 so that the call will be even cheaper...
Good luck Arch!
-Dave
COSN at $10 7/16 looks very good... Buy and hold for a week and you should see atleast a 25% return... Target within the week= $12.5-$13...
Set your stop at $9 15/16...
MCOM already up 20% to 6 3/4 premarket!
MCOM already up 20% to $6 3/4 pre-market!
MCOM looks good this week! Should see atleast $8 at some point this week.... Very oversold and with over 50% of the small 10 million share float short- a nice squeeze could send this to over $10...
Good luck!
MCOM looks lovely Arch! Nice find! I see that it rose 29% to $5.5 on Friday on volume of 5.3 million... It closed aftermarket atr $6...It also hit its 52 week low on Wednesday at $3 7/8... Stochastics show that it is way oversold...
This may be due for a huge short squeeze. The key is the volume, I would assume that since the volume was so high on Friday that some covering happened- but you better believe that there must be still over 50% short.. So this may be a nice short term buy and hold till over $10.... I would like to see this dip below $6 again, but we may not be so lucky- the MMs will in all likelihood play games with it... I have put it on my tracking screen and may jump in on Tuesday... If the NAZ recovers and has a nice up day- this will fly!
Thanks again for the beautiful find! It should be a moneymaker for us- we just have to time our entry right!
-Dave
Thanks Bernard! My only plays were AVCI, PPRO, and IVEH... Did good with AVCI and really good with IVEH... Sold some PPRO I bought Tuesday for a small gain, but may have made a mistake buying some more before the close at $17... Looks like the NAZ will be down big tomorrow, atleast at the open...
I won't be watching the market tomorrow but will set a stop for PPRO just in case the NAZ gets hammered big. Hoping it doesn't hit because I'm expecting a good week for PPRO next week...
Good luck!
-Dave