Playing the opposite options on % gainers and losers. So, if you have a stock that gets hammered, buy the calls. Usually within a couple days, you'll make money. Can also short the weaker % gainers ($6-25 range) with 10-20% gains. Those usually don't hold up without a dip.
I keep daily records on the % +/- off of the Yahoo Finance board, and have been able to make good money on those in the past. Also, look for stocks with 1MM+ in volume especially. The lightly traded stuff is sometimes a trick, or at the very least hard to trade out of.
I've been paper trading ever since the halt on this little nightmare and saving up a trading block with some forays in and out of pennies and whatnot. I decided to halt my trading activities last Fall when I got burned on SWVC. Decided to work at my job instead and save up the account that I really want to use instead of trading up to that account.
I've got a pretty decent size chunk of money now to where I don't have to worry about intraday trades of the same stock. By the end of the month, I should be rolling again.
Trading a $10 stock for a 2% gain on a daily basis is a doable thing. Also, I only use half the money at any one time, so if I get "halted" for a chart breaker newspiece (which all know can happen!), I'm not wiped out. So, in fact, I'm going for 4% (not 2%) on half my money on a daily basis... and yes I've done the math if you extrapolate that out.
In general, I'm looking to short a stock at the very end of the day when it goes up on light volume. I will then come back and cover at the SMA 144 or 216 on the 5-minute chart. This takes a few days to happen sometimes. I also like to short the RSI when it tops out 3 times in a day on that same chart.
These are my new strategies. Wish me luck. I'll let you know how it goes. Bill Gates better look out. I'll be buying my own island soon. Maybe you can too!
Fletch: I'm afraid I'm gonna have to pull rank on you. I didn't want to have to do this. I'm with the Mattress Police. There are no tags on these mattresses.
AI
