Thursday, February 7, 2013

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!

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