I spent a few hours on Sunday night putting together my watch list of promoted OTC stocks to move on. Most of them failed to take shape in the morning spike but $TPAC climbed quickly to the $0.0024 range and looked like the momentum would carry it through the first hour and beyond. That prompted me to go long with 80,000 shares at $0.0021 ea. Of course the momentum dipped and so did the ticker... Murphy's Law right?
It hit a low of $0.0012 and I should have likely pulled the trigger way before that and cut losses, but I had made a mental plan to hold to the EOD because the promotion / volume still seemed new and that there was more to the ticker. I held and road it to the EOD @ $0.0015 with my plan being a swing play into the morning spike to take profits if they came. No spike and I cut losses.
Needless to say I felt like a dumb ass for switching my trade plan "mid-plan" and I started to mentally prepare myself for the likely losses I was going to see to my "micro" account at E-Trade.
Then as I continued to monitor the $TPAC Twitter page for after market activity I noticed an uptick in posts. Then a post from OTC Dynamics Inc. came in mentioning that "Penny Busters" was starting a promotional campaign this evening. That was quickly followed by 6 tweets promoting the stock as well as OTC Dynamics posting a link with the promotion letter that PB had sent out.
Here's a chart that was posted along with the promotions and though I know this is a promotion I have to admit the chart doesn't look too bad. Of course they mark the targets way up to the $0.015 range.
Bottom line is that my not so greatly executed trade my turn into a nice swing if their campaigning causes a gap up or morning run. I'm prepared to cut losses, but there is hope for greenage!