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Watchlist for March 5th

WKLI – Dead pump walking. ALFSS but not up enough to excite me.

MCGI – Pump! Should gap up tomorrow and then maybe go sideways. ALFSS. Too bad IB does not even recognize the symbol, let alone have shares to short. I have shares and I’ll sell them soon after the open.

ZANE – ALFSS. Very IFLG-like. Low-floater so could run another day. Potential long on strength.

TIVO – Huge good news, I nailed the alert in chat. Could continue tomorrow.

Disclosure: Long 2,000 MCGI that I intend to sell near the open tomorrow. No positions in any other stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Trade recap for March 4th

Better day today.

Trades at IB:
+   BOT   2,814   IFLG   false   Stock   6.398   USD   ARCA   09:34:46       14.07
BOT   400   IFLG   false   Stock   6.4500   USD   DRCTEDGE   09:35:15       2.00
SLD   400   IFLG   false   Stock   6.4700   USD   ISLAND   09:38:45       2.00
+   BOT   500   IFLG   false   Stock   6.780   USD   SMART   09:56:47       2.50
+   SLD   500   IFLG   false   Stock   6.928   USD   ISLAND   09:59:26       2.50
+   BOT   1,000   BELM   false   Stock   5.000   USD   SMART   12:12:48       5.00
SLD   500   BELM   false   Stock   5.10   USD   ISLAND   13:33:02       2.50
BOT   100   VRML   false   Stock   32.30   USD   SMART   15:35:59       1.00
SLD   100   VRML   false   Stock   32.80   USD   SMART   15:39:52       1.00
+   SLD   500   BELM   false   Stock   5.150   USD   ISLAND   15:51:42       2.50
+   BOT   5,000   VSTNQ   false   Stock   .971   USD   SMART   15:59:29       24.28

Daily profit: $564.14

Disclosure: Long 5,000 VSTNQ and 2,000 MCGI, both of which I intend to sell near the open tomorrow. No positions in any other stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Trade recap for March 3rd

Ick.

Daily profit: ($2089.82)

Disclosure: Short 2814 IFLG. No positions in any other stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Watchlist for March 3rd

WKLI – The new pump, with one promoter being promised “up to $500,000” and one getting 1.5 million free trading shares. No clear play; it will gap up and after that who knows, just watch for now. Potential short in a couple days.

SQNM – Looking overextended after the run due to an analyst raising the price target from $4 to $16. Potential short on weakness.

VSTNQ – Short on red.

SCEY – This was the first OTC stock I shorted, when it was pumped to about $1.50 back in the summer of 2007. I will look to short if possible on weakness. Still too cheap and low-volume for my taste.

MERC – Beautiful breakout. Potential long.

YUII – Breakout, watch for continuation.

STXXQ – Potential long on r/g or any sign of strength.

EONC – Low volume, but potential long.

Disclosure: No positions in any stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Trade recap for March 2nd

See the beginning of the video for an important question. My profit today was on AENY. I found shares at IB in the pre-market.

Daily profit: $2105.48

Disclosure: Long 300,000 IDCN that I intend to sell at the open tomorrow. No positions in any other stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Watchlist for March 2nd

VSTNQ – Only interesting watch. Long or short … I may try playing it long if it gaps up, otherwise I am short-biased.

Disclosure: No positions in any stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Trade recap for March 1st

Nothing much interesting today. I sold STTN and scalped a bit of MCGC.

Daily profit: $101.20

Disclosure: No positions in any stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Watchlist for March 1st

I do not see any ideal plays. VSTNQ is my top watch.

IFLG – Still on short watch, but it would have to break some support for me really to get excited about shorting. A potential long as well. Basically, unless it moves a bunch, I won’t play it.

VSTNQ – Long on strength or red/green, short on weakness or green/red.

BRYN – PennystockChaser re-pump Friday … I would love for them to get it up a bunch more so I can short. I won’t even consider playing this long. HSCO is another stock they are re-pumping.

Disclosure: No positions in any stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

How to learn to trade penny stocks

This is my motivational / instructional video on how to learn to trade.

The keys to success:

1. Don’t be lazy. Trading is hard work.
2. Look it up. Use Google and Investopedia and other resources. Read trading books at your local library. I have suggested a few good ones.
3. Don’t believe it unless there is proof. Lots of people lie about trading success. Look for proof that a strategy works before using it.
4. Don’t waste my time (or the time of any other decent trader) with stupid questions … I’m quite willing to help if you have a novel or worthwhile question but I will ignore you if you show that you have not put forth any effort.
5. Anyone who is serious about learning to trade penny stocks should read every single blog post I have written, as well as every post by Timothy Sykes, Tim Bohen, James Krieger, and probably every post by Pradeep Bond. To do less is laziness. A couple other traders who have blogs that might be worthwhile are BigT and JohnC.
6. If you value your time more than your money, I recommend buying Tim Sykes DVDs (Pennystocking Part Deux & TimFundamentals Part Deux are the best and I own both).

I should note that @investorslive did not say he made $50k on VSTNQ … I was exaggerating. His Twitter feed is annoyingly promotional, though, as he mainly uses it to promote his subscription stock chat. So while he will have great calls like “$VSTNQ is on watch today” before the market opened and it quintupled, there is plenty of “chat is on fiiiiiiiiiiiiiiiiiiiiiiiiiiireeeeeeeeeeeeeeeeeeeeee” type tweets. I subscribe to his pay stock chat room, InvestorsUnderground. If you sign up using my affiliate link you can save up to 15%.

Disclosure: No positions in any stock mentioned. Thinkorswim is one of my brokers. I am an affiliate of Tim Sykes and Investorsunderground. For more details on those relationships, see the terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Q&A: What is an over-extended stock and what do the new SEC short selling rules mean for traders?

Two questions this week:

1. What do you mean when you say a stock is over-extended?
2. What do the new SEC short selling rules mean for traders, particularly short-biased penny-stock traders? I give my opinion of what it means to me. Check out this WSJ blog post explaining the rule and this more-detailed Bloomberg article.

Disclosure: Long 8,000 STTN. No positions in any other stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.