Updates and Current Watchlist

Been trading and working on a few other things. Recently got on board with profit.ly which is a tool used by investors and traders to verify trades. I am pleased to be associated with them now, had been discussing it for a while but now that im on board it means better transparency and 'proof'. Here's my first verified trade profit.ly/1MnPru?aff=1971 I have been fine-tuning my style a bit and focussing on the penny plays (stocks under $5). Currenty on the watchlist are CLDS, SRBL, LOTE, OCTX, AGIN, GOFF, REVI, LUVE. Note that these are all current promotions and I am waiting for price action to indicate a drop is coming to load up on shorts.

March 7

Busy couple of days this week so far (meetings, golf etc)...I am watching a few things today, name MTG, and then a bunch of penny plays GNIN, SWVI, CGLD, SOUL there is also a pick from StockPsycho coming out at 9.32am so will watch out for that one..time to focus!

Feb 28 Watchlist

Few things on watch today .. long: MERU and PRKR shorts: NTWK. I am also waiting on some new penny pumps to be released from VictoryMark Corp. and Stock Psycho..time to focus!

Feb 26 Watchlist

Yesterday I woke up late so did not get to posting my watchlist. I sat down and quickly made 2 trades which were both winners, at which point I had to head out for a meeting. Stress-free trading and was done in half an hour nothing wrong with that! Today I am also including my penny watchlist which i keep an eye on during the day as well.. long: TRLA - weak open around 25 for the long setup..WLT- washout at open then a bounce trade maybe around 30 Short: NTWK - para s/s or late day fader..VIPS - para s/s around 30 Penny list: SWVI, CNCT, GNIN, USTU, LTNC, SOLS, ECAU

Feb 22 Watchlist

Traded a bit in the morning yesterday and then played golf in the afternoon..really need to focus on my watchlist as many times, these plays work well and some of the other trades I take lack movement or follow-thru...anyway on watch today: PRKR - watching for possible long if a retest of $4 then a gear and perk for the red to green move or watching a rip to $4.50+ for the parabolic s/s. OPXA - shart looks decent for a pop has been consolidating and drifting lower for a while, risk would be to $2 for a move back to the mid 2's. NURO - weak open red to green push. IBCP - rip to $7+ for the para s/s. OWW - over $4's for the para s/s...anddddd Time to Focus!!

Feb 21 Watchlist

Didn't trade yesterday had a couple meetings...back in action today..main watches going into the open: MERU - pullback and retest the $4 area then would like to see a gear and perk for the long. MM - got dumped yesterday, ideal trade is a morning washout for a nice bounce. Possible parabolic s/s in CHTP and NTWK will also be keeping an eye on NVGN as it is ripping pre-market rite now after being up huge the last day or two..time to focus!

Feb 19 Watchlist

Watching today for longs MNST, XIN shorts NTWK and MM...also on watch is GNIN this one will be just like ECAU a couple weeks ago and tank hard sometime soon, hope i can find some shares to short

Feb 15

Nice trading yesterday morning..on watch today long: GTAT, FSLR, ENOC, UNXL shorts: SPWR, WEST, GV also HLF in the news should be interesting today..time to focus!

Feb 14 Watchlist

Watching just a few today.. longs: RSOL, PIKE, ASUR shorts: RSOL, GV..news on the American Airlines and US Airways merger means might have some activity among related stocks as this affects many other companies as well..meetings yesterday afternoon in town so I didn't bother to trade...looking to put in a full day today tho time to focus!

Feb 12 Watchlist

Dud of a day yesterday for me, just not seeing anything set up and then when it does I am too late..add that to the fact that I am busy doing other things while trying to trade means not much focussing..anyway will have to budget my time more efficiently so I can concentrate at least for a solid few hours each day on trading..watchlist for today: il daily longs: CIMT, MDCI, DMND, LPHI, ATHX, GV il shorts: CIMT anddddd time to focus!

Feb 11 Watchlist

Decent weekend, bit of golf, bit of partying and some relaxing..busy week for me got quite a few meetings lined up for various things..anyway watching the following today, looking for a solid week as last week was slow for me..il daily longs: CIMT, DNDN, MITK, PAMT il daily parabolic shorts: CIMT, CZR...there is also another solid pump and dump going on much like ECAU last week (I still expect ECAU to dump lower and be under $1 soon)..it is GNIN and the promoter behind it has had some pretty large promotions in the past that ran up nicely and then dumped really hard..much like ECAU I will try to locate some shorts to borrow but I doubt my broker will have any..anyway time to focus!

Feb 8 Watchlist

ECAU low of day yesterday was in the $1.40s...enough said lol I was short from $2.14!! Anyway today got my eye on a few as usual.. il daily longs: GNRC, SIGA, LPHI Ryoli longs: SZYM also watching TRLG and VSAT because of their big moves up yesterday...time to focus!

Feb 7 Watchlist

Not much going on yesterday, I had a small watchlist and a couple gave great setups but at the time I was occupied with other things. Really need to listen to my motto every day 'time to focus' and actually focus lol. ECAU was my only position and I shorted it at $2.14 looking for it to dump around 30%. These plays don't come around often, the classic 'pump and dump' (might only get 3 or 4 a month) however they pay nicely. Unfortunately, while the stock was shortable at my broker, I got a buy-in notice saying that by the end of the day all shorts would have to cover so I was forced to close the trade by the close (I only made a few cents on the trade). I am still expecting this stock to tank either today or tomorrow. It is currently at $2.05 and I would not be surprised if the stock is under $1.50 soon and under $1 not long after that. Or it could totally pop and rip a few dollars who knows but based on previous pumps like this, it will fold eventually. Anyway here's what I have on watch today: il longs: PANL, GNRC, EMKR, YELP, CIMT, CPSS...I am going to focus on these but as always, keep an eye on what's happening in the market too. Time to focus!

Watchlist for Feb 6th

Didn't trade yesterday as I was down the east end of the island (airport then lunch etc). Nice to spend some time over there as don't get east much. Watchlist for today is kinda small: il daily longs: SNSS, CIMT, CPSS il para s/s: SNSS, nothing on the ryoli or offshore but I do have my eye on a pump and dump ECAU..my broker has borrows available on it and if it can pop over the $2 area maybe 2.20-2.50 I will be loading up a sizeable position short expecting it to dump to around $1 or lower..this is a classic pump and dump and I love these types of short plays, however normally I can't get borrows on alot of them (might be time to open an accont at Interactive as they are one of the best brokers for shorting stocks under $1). Anyway time to focus!

Feb 4 Watchlist

Had a good weekend of golf, more golf, and watching sports on TV. Ran the scans and here's what I am following today and this week so far. Generally the il daily scan stocks are just possible trades for the day however the offshore and ryoli scans are slightly longer term could be a day trade or several days. IL Daily: longs - KERX, PANL, SWVI, EDAP, TEAR, GNRC, HGG Offshore: CACH, CIS, RNDY, ENPH, AXU Ryoli: ACTV, PPC. As usual, I will be keeping an eye and ear on the market for things developing premarket and during the day for opportunities. Time to focus!

Feb 1st Watchlist

Nailed RIMM yesterday at the open for a sweet bounce trade..I spelled this trade out on my twitter ahead of time as well anyway that was all for the day as I was running some errands and cleaning up..on watch for today based on scans are Ryoli scan: TIVO, il Daily: long PFMT, RIMM, RSH, TEAR, EMKR, parabolic short RSH. It's a new month so over the weekend I will go over my January statements and review. Back in an hour or so to check out the premarkets.. @BermudaTrader

Jan 31 Watchlist

Played golf yesterday so didn't get any trading in..on watch for today: nothing came thru on the ryoli or offshore scans, il daily longs: KERX, RIMM, MSON, TSPT, KBH, ECAU, CBMX il daily short: ECAU obviously I keep in tune for things moving premarket etc and add them to the watchlist as the day goes on.

Jan 29th watchlist

Here's the watchlist for today based on the scans.. Ryoli Scan (possible longs): NIHD, OPK IL Daily Scan (possible longs): SHLD, KERX, ACAD, DDD, TA (para s/s) ECAU, KERX, TA

Scanning the market for setups..

I'm still here trading away, hopefully people follow me on twitter as I post pretty much every trade I take (win or lose) on my twitter feed. I also post them almost immediately after I take them so hopefully that has enabled someone to make a few dollars following along with one of the trades if they want. So how do I decide which stocks I'll be looking to trade during the day? It is 90% based on market scans that I run prior to each trading session. 10% is based on what's happening during the day eg. if a news event comes out and causes a stock to move I might look for entries there as well. I have 3 scans I look at and pull stocks from them based on how the charts look. Once I have a list of stocks to look at during the day, then I watch the 1 minute charts for my preferred patterns to set up and if they do, it's action time :) Here's my scans for today, I hope to go into detail on what each scan is looking for in a future post... Ryoli scan (look for possible long patterns intraday): RSH, CPWR Offshore scan (possible long patterns intraday): RSH, OCZ, CHK, DECK, QLTY IL Daily scan (possible longs): CRUS, MLNX, MCP, UNXL (possible parabolic s/s): CIMT So those are the stocks on my watchlist going into the market open. Check out my twitter to see if any of them give a setup on the 1 minute chart during the day...time to focus!

First week of 2013

Well it's a new year and this week was a shorter one with the holiday on Jan 1. The u.s. news was dominated with the last-minute agreement between lawmakers which essentially avoided the 'fiscal cliff'. I'm not 100% sure what all this meant but I do know that the markets rallied once news of the deal passing came through. First week of 2013 was decent for me in terms of trading, I managed to finish every day profitable with the exception of Monday which was basically a flat day for me. Hopefully some people follow my daily activity on twitter as it is there that I post most of my entries and exits on trades as well as other thoughts. To check out my twitter click here. I am trading a bit smaller position size just until I am back in the groove of things. When I am trading full size I am comfortable risking at the most $300 per trade (my share size is obviously based on where I decide I am risking to on a trade). Right now to start the year I have dropped that down to $100 per trade. I will probable be upping in a week or two. Right now the plan is to be home in Bermuda for the next few months so I really will have nothing to do except trade and play golf :). Anywayz this weekend is for catching up on spreadsheets and going over account statements from 2012 (the boring tedious part of trading). I'll be back in action next week from Monday onwards! Just want to note a few things about some trades from the week. My 3 main setups occured during the week, however not in textbook form (they are open to interpratation). I guess the key point I would make about the week is that going into each day, I have a trading plan laid out on a few stocks based upon potential setups and I look for them to develop. Sometimes, as I mentioned above, they will not set up exactly as I plan but it is good to recognize when they may still work. Case in point: MCP from Friday, I had it on watch going into the open as I knew the $10 area was support and it was a relatively strong chart, plus the market was up so expecting a push higher on MCP. Ideally I was looking for a weak open, then maybe a push just under $10, then some gearing and higher lows for a push up. Take a look at the chart, MCP opened weak and put in a base just ABOVE $10, not below as I had thought. It then proceeded to gear a bit and drift sideways, but always held above that $10 base. It put in higher lows (the blue dotted lines) and then once I had recognized this, I should have put on a first position long around $10.05 (the first blue buy arrow) risking to just under the support at $10 (maybe $9.95). So lets say 500 shares long at 10.05 risking 10c ($50)...once MCP started to perk up and broke the upwards resistance (higher red dotted line) that was the add-in around 10.15 looking for the pop. Lets say another 500 shares so I would be in 1000 shares at 10.10 avg and risking to $10 now as I know thats the base ($100 risk). As you can see MCP popped to around $10.35 so I could have easily taken 20c or so out of it or $200. I did NOT grab this trade as I was waiting for a pop below $10 but it goes to show that it is important to adapt to what sets up and not be stuck waiting for an exact setup.

It's also important to stay in tune to the market (news, events etc). I missed a great sell on a chinese stock LPH on Thursday when I was alerted by another trader that a report came out accusing the company of fraud. I was alerted when the stock price was around $2.10 and could have easily grabbed a short but did not bother. LPH then proceeded to drop over $1.50 and is now halted. Coulda shoulda woulda. Ah well here's the LPH chart just so you can see what I am referring to.