Update: Red Tide!!!

It would seem that I'm getting caught red handed lately. $NTN has refused to stop bouncing around the $0.41 to $0.43 range and I'm left with the decision of holding for a possible bounce play or sell and take losses.

 

The latest play is also in the red, $BRWC, though I have to admit I'm holding because it continues to look like a promising trade with the potential to have a significant bounce. News was out today showing the company having sales up 12%, profits up 3%, and operations losses down 30%. As the pr sinks in, there's a chance that that it will cause the stock to bounce off of the bottom. Only time will tell, will I get to take profits? or be left holding the bags?

Monday's Ups and Downs / $NTN and $CJTF

Monday for my position in $NTN stayed in the red for most of the day and only pulled into the green at the EOD at $0.5464 @ 3.09%. Continuing to hold this to see what it does as we get closer to the earnings report on the 26th.

I had made a pretty large watch list on Sunday night but wasn't crazy with how they were moving. Shortly after the morning push I spotted an alert on $CJTF having positive news out on the OTCmarket news area. Basically, the company won a court case and are being awarded a $12.5 million note receivable. A nice chunk of change into the company's coffers for sure.

Momentum was there at the time and it looks like I'm still in before any real push from the news, especially since it hasn't hit more mainstream outlets like Yahoo Finance or Market Watch. I went long with 200,000 shares @ $0.0020 a share. As Murphy's Law would have it, the price climbed to the HOD of $0.0024 a share then dipped to $0.0015. It stayed pretty level untill the EOD push and I saw it start to uptick for an EOD call of $0.0017 @ 30.77%. I'm still in the red on this play and will hold into the morning as a swing. Hopefully news makes the rounds tonight and I see a gap up in the AM or a nice spike that I can sell into. Otherwise I may just be taking it in the ass again and forking over my cash!

$NTN Stayed Red & The Diagram Experiment

$NTN Opened red and stayed that way for the day ending with $0.555 -4.31%. On a good note, it continued to bounce around in the consolidation zone of .54 to .56, so at this time I'm not too worried about today's redness. Next week is the earnings week for $NTN with the report due on the 26th. My guess regarding any possible promotions (if one starts) will be Sunday night to early Monday and continuing till Thursday, maybe a dump on Friday or Monday the 30th.

I'm not an expert and have no knowledge of a pending promo campaign, just a gut feeling.

I've also put together a Trading Day Diagram that breaks down the key points of the trading day. I'm planning on going over my trades and marking down the entries and exits. It will I'm curious if there is a pattern regarding when I entered and exited vs wining and loosing. I'll post the results just for fun.

Here's the diagram

$NTN Pops @ EOD to .58: Continuation of Incline

There was a slight gap down this morning for my small position with $NTN. I watched as it climbed back up to the previous closing price and then went sideways. Seems like a lot of stocks follow the pattern of a pop or spike during the power hour... aka closing period.

Thought I'd share the chart.

Words of Wisdom from Michael Goode

I've been spending a little time reading Michael Goode's blog, GoodeTrades.com, and thought I'd share a couple lines from his post titled, "How to make almost $30,000 in under thirty minutes of market time."

"(If you sign up for Stocktips or any other promoter, do not ever pay them for anything — just get on their free email list. And never believe what they write — they are scheming scoundrels and pumped stocks inevitably dump big.)" ~ Michael Goode

Small Position with $NTN... Here's Why

I honestly first looked into this ticker after hearing Timothy Sykes mention it in a recent video were he talked about potential earnings winners. He's since sold out of the position with a small gain...

Tim's Play on $NTN

"Entry comments: Bought this maker of restaurant entertainment/ordering tablets that has a big deal with Buffalo Wild Wings...I've been watching it for months, but only in the past few days has it broken out and price action suggests some good news coming, ideally another restaurant franchise contract. Goal is to make 30-50% on this one and sell into a big spike

Exit comments: Sold into the Business Insider article-related runup, normally I would hold for bigger gains, but with uncertain earnings coming in the next week I like taking safe 10%+ profits on a speculative stock pick. If they announce some meaningful news or #s I might re-buy but this company has usually excelled at hype and underperformed at actual business so I sell into this media hype!" ~ Timothy Sykes


My position of 100 shares is small enough that I am okay holding with the plan of using any positive catalysts to sell into near March 26th when the earnings report is due.

But I didn't enter the swing solely off of Sykes' comments. Here is was I saw in their charts and some of the reasoning on why I'm playing it.

Also, please note that the nearest support/resistance points are April 2014 and June 2014 between the .70's and .80's ranges. I didn't pull another chart picture to show that, but feel free to look while doing your own DD.

 

All Out of $AXXE, 29.17% Gain and 10.42% Gain

1 EPIC fail and 1 GREAT WIN!

I guess I'm a bit of a Ying and Yang trader this week... my position and modified plan with $TPAC failed me epically -$88.00 with -52.38%. I have no one to blame but myself and it did some serious damages to my E-trade account. That said, it did not go wasted. I am learning and will take that loss and take a long hard look at what went wrong.

#1: Not enough DD on the stock or the promoters

#2: As soon as the trade deviated from my plan I should have cut losses and walked, especially with no trailing stops available.

#3: Modifying a plan just because it appears a promotion is starting isn't okay... Always verify and look at the risk / reward.

One small blessing is that it was my E-Trade account with minimized the overall losses somewhat. Not sure if I should deal with the loss and look at building it up from the now balance of $98 or add a little funds to get it back to $200. 

On the other side of the penny however I had an awesome momentum trade with $AXXE.

Yep, entered the trade with 4,500 shares at 0.12 ea. gained 29.17% and took profits with 3,500 shares. Since I had originally planned on this being a swing I decided to leave 1,000 shares on the table over night to see if it gaps up or spikes with morning momentum. ShareBuilder isn't allowing a trailing stop so I'm watching this one closely. I AM NOT REPEATING $TPAC!!!

Seems to be heavy promotions neat the EOD and after market. I'm leery since that is the same thing I saw with $TPAC. If it's the promoters looking to get a pre-market spike and sell of in the AM I'll be ready to pull out with profits. Only one more trade this week so I'm out tomorrow regardless.

 

$TPAC Promotion in Full Swing

I'm about to hit the sack for some sleep but couldn't help posting about the Twitter activity for $TPAC. Since it was first posted that Penny Busters was starting their promotion campaign there has been non-stop tweets that either mention the ticker or actually post something about the ticker... literally like every 10 to 15 minutes there is a tweet.

Pretty interesting being long before a promotion. I'm really curious if the campaign will be reflected in the morning.

I'm a complete Newb but it smells like something is on the horizon, maybe a gap up or a new high of the day.

Monday's Play a Rough Start... But Swing Hopeful

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!

My 10 Trading Goals!!!

I think everyone needs to have goals that are physically written down and available for all to see. The transparency of it not only helps with keeping focused and inline, it also makes it more rewarding when you hit a goal and get to check it off.

Here are my personal 10 trading goals. They will be posted here in this blog post as well as on the side of the blog for permanent viewing.

My 10 Trading Goals:

1. $1,000.00 balance in my ShareBuilder account.
2. $1,000.00 balance in my E-Trade account.
3. $2,500.00 balance in my E-Trade account to allow shorting.
4. $500.00 profit in a single trade.
5. $1,000.00 profit in a single trade.
6. $5,000.00 balance in my E-Trade account.
7. $10,000.00 balance in my E-Trade account.
8. Become a Tim Sykes student.
9. Meet Tim Sykes in person.
10. Be Tim's next million dollar student.

Josh Sason: A side of Penny Stocks I Never Knew

I'm a firm believer in the old saying that you learn something new everyday... and if you don't you're doing something wrong.

I owe this tidbit of knowledge to Aaron Fifield of the Chat With Traders Podcast, who tweeted a link to this Bloomberg article.

Just goes to show you that the Penny Stock world is more in depth and opportunistic than you'd think.

A Little Inspiration

Two plays today. Small position in $PPCH in an attempt to scalp yesterday's momentum but it didn't hold. Cut losses at a $4 gain... which after E-Trade's commissions translates to about a $16 loss.

Also in a swing with $INVT with 500 shares. Waiting for the EOD push and tomorrow's action. Shooting for at least 10% gains. Trailing stop set at %8

Last but not least I stopped by a dealership for a little inspiration... Not that I want a Lamborghini or Ferarri, I'll take my trans am thank you very much. But "what they are symbels of" is what inspires me... Financial freedom

Sometimes a "No Play" is the "Best Play"

With all of the markets seeing red today the trading waters were not ideal for jumping in. On top of all the red in the markets I also failed to see a decent entry for any of my picks on the list I'd made the night before. 

So, rather than find myself chasing a stock I opted for sitting today out and watching. Sure I didn't make gains today, and I missed out on a crazy OTC runner today (500% to 800%)... but I didn't lose capital either.

I'm doing my best to follow a rule that Timothy Sykes has said multiple times throughout his videos on YouTube. Trade like you're retired.  Trade like you're a sniper. It's okay to not trade.

Bottom line, don't risk your money! Trade the set ups with the most potential to see gains.

As for tomorrow I have a few that I'm watching. Two that are leftover promotions from last night's watch list and the other is the 500% - 800% gainer from today. Not going to trade the $PPCH gainer, but I'm curios to see how, or if, it falls apart tomorrow.

A/H trading with $MELA suggests that this promoted stock with move tomorrow, but we will see.

**UPDATE 03-11-15**

$MELA gapped up huge in the opening and didn't let up, I wasn't able to make a good entry without it being me chasing and I didn't think I'd see enough gains to make a 10% move... I was right too as it didn't go much higher than the gap up and what would have been my entry. A nice pump for sure.

$800 Saturday School Detention! Love it!

I don't know much about this trader other than what Sykes has posted on his blogs and profit.ly site, but I have to admit the kid is a rising star. Basically he's a high school age trader who grew a healthy account while in his classes.

Since I work in a high school setting I personally find this humorous. Check out this article he wrote about getting a Saturday School Detention for day trading in class... haha

Article

Red Day For the Markets

http://finance.yahoo.com/news/us-stocks-open-lower-strong-jobs-report-151050075.html

Closed Trades: One Loss One Gainer

I closed out both positions today with $ARCP and $XXII. One was a small loss and the other was a large percent gainer (but admittedly a small $$$ gainer).

I decided to close the ARCP position after another day of it not doing much. It appears to me like the potential breakout failed and I'm not willing to wait longer to find out either way. Cut my losses short with under 3% and a loss of only $8... not counting the commissions of course. Another losing trade on the record but I feel that I learned from it.

My position in XXII closed with a very nice gain of 36.35%. It was a very small lot and I only gained $30 out of it... but it honestly is my best executed trade thus far. I had a great entry after the alert from BP_Rising and went in with an 8% trailing stop. I had a set target in my mind of 10% to 12% unless momentum was still there, then I planned on letting it ride. That was possible and I ran into through today and took profits today at the EOD. It may continue to climb tomorrow but holding it for a third day running seemed like a risk.

 

I send out the details of the trade on Twitter and StockTwits, mostly to say thanks to BP_Rising for the free alert and Tim Sykes for the free lessons and inspiration. Both send responses or favorites/likes.... it was kind of like getting a 100% on a school test and having your teacher slap a smiley face sticker in the corner :) 

Trades settle next week on Wednesday. Will be looking for another trade in the meantime.

Open Positions: ARCP and XXII

I currently have two long positions going. The first is through my Sharebuilder account with $ARCP that I entered on Monday. I had a bad entry with it because I made the mistake of entering the trade during the morning spike and have an entry price on my shares of $10.29 ea. That puts me behind the trend but it still appears to be gaining so I'll continue to hold.

03-03-2015

03-04-2015

Tuesday opened with a gap down and stayed down until about mid-day when it closed with a gain. Wednesday was a rougher day on the charts with most of it spent in the red, but finally ending in the green with a few cents higher than Tuesday @ $10.10.

My 2nd trade is through my E-Trade account, and I'm holding shares with $XXII with a 8% trailing stop. This one was alerted today by BP_Rising Group after news. It appeared to be the beginnings of a pump so I jumped in early to ride it up. In @ $0.9168 a share and EOD of $0.98. Hopefully tomorrow brings further gains and I can hit my target of 10%+. 

03-04-2015

780% Gain In One Day ($45,000 Profit) ***BP RISING!!!!!***

I'm blown away by these gains.... Amazing!!! I'm good with a 10%'er but hell, I'd gladly take a 780%'er just the same ha

Confusion on NBG Trailing Stop: 11.25% vs 8%

ShareBuilder sent this reply regarding my trailing stop...

From Capital One ShareBuilder Customer Service

Hi Chris, Thanks for your patience while our Trading Team researched your NBG trade that executed on 2/25. The 8% trailing stop is what the trigger price would be from the high. So for your sell, the high price was $2.00 per share. This meant that anything $1.80 or below would trigger the order, and then become a market order. So because the price opened up at $1.77 per share at 9:30:16 am EST on 2/25, the order was triggered and became a market order. This market order was filled at 9:30:25 am when the bid was at $1.77/share. Our Trading Team did confirm that this all executed correctly. You'll also be able to find additional info about how trailing stops execute by clicking here. Thanks, hope this helps and enjoy your week Chris! Sincerely, Shea McGivney Capital One ShareBuilder Customer Service