Goode Trades – Page 65 – The Best Source for Penny Stock Insight

Q&A: Trading OTC stocks premarket, screening for stocks intraday, & huge runners

Video #1:
1. How can one get a fill on an stock in the pre-market, particularly with Interactive Brokers?
2. What do you think of Equityfeed (versus other methods of screening for stocks intraday such as the HOD list or IB’s market screener)?

Video #2:
1. What do you think about stocks that run huge in one day such as ZANE (up 600% on March 4, 2010). Do you buy them?

Disclosure: Long 8,000 shares of STTN and short 3,000 ZANE. No positions in any other stock mentioned. This blog has aterms of usethat is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

Trade recap for March 5th

Decent day. Have a good weekend, everyone.

Daily profit: $1,568.28

Weekly profit: $2,252.28

IB trades:
+   BOT   1,000   ZANE   false   Stock   2.020   USD   DRCTEDGE   09:30:05       5.00
SLD   2,500   VSTNQ   false   Stock   0.900   USD   SMART   09:32:09       11.25
SLD   2,500   VSTNQ   false   Stock   0.900   USD   SMART   09:32:09       11.25
+   SLD   1,000   ZANE   false   Stock   2.050   USD   ISLAND   09:32:30       5.00

Disclosure: Long 8,000 shares of STTN and short 3,000 ZANE. 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.

February pump & dump recap

Here I show the charts of pumps from February and January. See if you notice a pattern. I bought most of these and shorted a few of these. When pump & dumps inevitably dump they drop fast, which is why I always say that buying pumps is very risky. So please, unless you are a trained professional, do not try to buy pumps … the short selling (when shares are available) is far easier.

BGEM – Was a re-pump in February that I bought. The December pump was even better (that is usually the case with re-pumps).

ECOB – I made $7,000 shorting this in January. I should have held my position longer.

ISPI – Weak pump. If you buy it you have to sell quick!

MDCE – Nice pump that Timothy Sykes nailed from the short side on the day it collapsed. I made a bunch on the long side.

NXTH – I shorted around $3.10 and covered around $2.60. Oops. I still made a couple thousand dollars.

PEPR – The pump was nice in percentage terms but it never got very high. I still made some money.

RCYT – Weak pump. I still made some money buying it.

WKLI – The latest pump, not bad and I made some money buying it. The dump has only just begun.

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 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.