www.nlak.weebly.com and click blog to see all previous posts.
Now for some beautiful charts
Excuse the USS blurriness. As long as you see the latest red bars on the chart you see my source of satisfaction and pride. After 3 days of incredible pumping, this thing was swelling with sell off. All it took was some patience. I bought at 4.34 and saw it drift downward I knew 4.00 was the tanking point. If it could reach this, hundreds.... no thousands of computers would execute automated limit trades and a sell of would ensue. I was right. All it took was aptience. I saw resistance at 3.70 and took a quick $640 right to my pocket. It felt good to finally so many of the fundamental i'd been reading about acutally happen right in front of my eyes. Following this stock as an adrenaline rush. Occasionally on my TOS software i'd see a desperate seller dip way below the current price in attempts to bring in buyers but this thing had gained way too many on the ride up, everyone wanted their profit or everyone was in for a long short selling ride. TAnk it did. AFter my exit it closed in the 3.20's and the next day it fell below 2. What a beaut. I could've rode it more but the next morning my eye was on DSL, my $95 pride and joy. This required absoluetly 0 research- which the market has yet to teach me a lesson on, just good timing. I saw a sell off and within 10 minutes max had shorted and covered to get a 10% gain on a thosand dollar principal.
These two trades have taught me what months of reading had left me skeptical about. Picking stocks off the % gainers list is easy and simple. Watching them fall requires patience and thats all I need to work on. tommorw's top short is VC. Its been pumped up on the % gainers list for 2 days for sure. The fundamental here is that value cannot be added this quickly.... unless the news is stellar. Lets face it... if you're trading below $5 to begin with anything can easily become "stellar" news. This is the beauty of pennystocking i've realized. I've got a variety of other stocks. You'll find them on posted on www.nlak.weebly.com under FILES as a txt file called Stock picks. I'm feeling good about VC.
At this point, i'm playing anything that presents itself. Whether its a financial group riding the recent credit recovery, or a pharmaceutical boasting succesfull trials of a drug. I've found anything that can raise these puny companies is easily lost once confidence is.
AS i told my future roomate. The market is a combination of hype and resulting movement. Reading the hype and predicting movement is all it takes to build a position and predicted movements quickly create happy traders.
In other news. There have been copious articles for those of you keeping up with headlines on the Economist, WSJ, FT or NYT regarding america's addiction to leverage. While I'im not particucarly interested in this while i'm studying the market, i feel very confident for calling this on my old blog.
See HERE for more info on the huge loss of confidence. Of course, if my simple summary of the market holds the market is not done tumbling at all.
Good think shorting requires nothing more than paying attention. Happy times :)
