Weekend Update

$12,815, Down $83 or 0.8% on the week.

Open positions: Long 1,500 shares CPST @ 3.09

Quite a busy weekend...but I will be ready to go tomorrow morning. I had a nice, successful trade of PDO on my first day off, so hopefully we can find another great trade tomorrow. Here's what I'm watching for tomorrow:

PDO. So that trade of PDO on Friday was probably the last trade you can get out of that stock. NOT!!!! This stock is one of the greatest trading tools right now. Use it to the maximum, it is really, really predictable. Just stick to mid-day support/resistance levels and you will be rolling in the cash. No need for a chart on this one.

MXC. Beware, this is the unstoppable bull! I would not short this one until multiple support marks are broken. This along with PDO are great trading stocks right now. Use them to your advantage and make some cash! Here is the chart:

CPST. Following a nice slow mover can be relaxing every once in awhile...especially when it's going the direction you thought it would! It did make me a little mad when it double topped at around the 3.54ish mark on Friday afternoon. I did take half of my position, so for the rest I am just going to ignore. Here is chart, just look at those great looking moving averages:

AAPL. I know, I know. It's hard to believe that I am actually featuring a big name stock as something to watch. The reason is that some of you may be long this stock when I said buy shares at $115-$120. I think now in fact is the time to sell. The iPhone hype initially went through the stock and sent it flying. Now the 3G iPhone hype is going through it and it is flying again at almost $200. Technicals such as Stochastics and MACD are starting to rollover. You can look for yourself:

If anything else pops up tomorrow at the last second, I will update immediately since I will be home for most of the day. A nice, profitable quick trade tomorrow morning would be the best, so then I could relax for the rest of the day like on Friday. I can't be thinking that too much otherwise I will force something stupid. Boy is it hard to keep clean emotions in this game!

The Market Kid

May 16th Review

$12,815, Up $605 on the day.

Positions traded for a gain: CPST ($225), PDO ($480)

Positions traded for a loss: CMOS ($100)

Open positions: Long 1,500 shares CPST @ 3.09

First day off for school this summer and I sure started it with a bang. PDO was quite the trading stock today, sometimes jumping and falling $2 in 10-30 minutes. I successfully traded it once for almost a dollar in profit in about 15 minutes on the short side. Mid-day support was broken at $16, which signaled a perfect short and I was in for 500 shares at 15.86. As I said, minutes later the stock dove and I was able to cover all of my shares at 14.90. Not too bad for just a little morning trade!

In order to play PDO, I sold off all of my shares of CMOS for a small loss. If CMOS ever starts to look like it is going to run again, I will be the first one in because there is just so much potential. CPST worked very well again today, but it just couldn't quite break the 3.53 mark that it some pretty good resistance right now. After double-topping there, I reduced my position to 1,500 shares to hopefully go at the mark again next week.

The overall markets were down almost all of the day because of several different concerns. Goldman Sachs came out this morning putting a $141 price tag on oil for the 2nd half of the year. Doing something like that is just giving oil traders an excuse to push the price higher! Oil hit a new all-time high today just below $128 a barrel. Henry Paulson did say that he expects the economy to rebound in the the 2nd half...if that means anything.

The "Weekend Update" post will be up soon, so check back. I will review all that happened this week and hopefully post some good stock picks for the week to come. Hopefully I can ring some great profits now that school is finally done for the year. I guess time will tell.

MK

May 15th Review

$12,238, Up $130 on the day.

Positions traded for a gain: CPST ($180)

Positions traded for a loss: CMOS ($50)

Open positions: Long 3,000 shares CPST @ 3.09, Long 5,000 shares CMOS @ 1.05

Just a boring 'ol day in the park for me. None of my positions produced much gains or losses, yet all of my mentions yesterday were rocking. Being the last day of school today, (yes, I am home all day tomorrow) I wasn't able to catch any of the rather good gains that I could have traded today in DSTI, SSBX, and FXPT. Maybe tomorrow will be different...full updates start tomorrow also.

CPST is at a pivotal point right now after how it finished off the day. Best case scenario is that we get a nice up day tomorrow of maybe 5-10 cents. CMOS is just going to be a "holder" for now. Sometime in the next week or so the stock has got to start uptrending...just be patient and wait for the small breakout to signal when that time has come.

FXPT down 12%, DSTI down 5.5%, and SSBX down 17%. In a comment later, I also said to buy the follow up on RCH after solid earnings yesterday. RCH ended today up 23%. Perfect calls on all four and that was just for today. If only I had a bigger and more diversified portfolio, just think how much money I could be rolling in with 60% gains in one day! So after a nice round of picks yesterday, I am giving myself the night off and will post picks for tomorrow in the morning.

MK

May 14th Review

$12,198, Down $40 on the day.

Positions traded for a gain: CMOS ($300)

Positions traded for a loss: CPST ($330)

Open positions: Long 3,000 shares CPST @ 3.09, Long 5,000 shares CMOS @ 1.05

A report on consumer prices released today helped calm market fears and send the major averages to a higher close. However, we did trail off in the last few hours of trading which signals maybe a little bit of profit taking. According to CNBC, home foreclosures and the related mess is only going to get worse. Oil futures took a bit of a dip today, and I am beginning to think that we may be rolling over for the time being. What I am looking for is a short drop to around $118ish a barrel.

CPST weighed me down a bit, but I think tomorrow will be another smashing day after the upgrades it recieved. Probably should have took some gains when it reached the 3.50 mark today since that was my price target. I got a little greedy though, so I sure hope that won't hurt me in the long run.

CMOS as I mentioned days ago is looking like a decent buy, but after plunging yesterday I was a little depressed. The stock kicked back very nicely today though which is promising for the following days. I picked up 5,000 shares this morning early when I thought the stock was extra cheap trading around an even $1 a share. Price target equals $1.40ish and I won't be greedy on this one!

IMB took yet another plunge today. I never ever thought that the news they announced would have been that bad. Oh wait it wasn't! The real thing that killed the stock was a downgrade saying that the new stock target price was $1. You just can't predict stuff like that though. Remember, if the stock gets near $1.50 or lower, I am buying some shares because this selling has just gotten to be too much lately I believe.

Possible plays for tomorrow/rest of week include DSTI, SSBX, and FXPT. DSTI is a solar play surging with the rest of the solar stocks because of the increase in oil these days. It may work for a short soon since I called a top in oil for the time being. NOT A LONG-TERM SHORT AT ALL, OIL WILL CONTINUE TO GO HIGHER! SSBX is a bank play that has doubled in last two days and had their first down day today. Overall failing company, should get slammed pretty good tomorrow. And last FXPT...seems like a total scammer to me. It ran up huge not too long ago, and now it is back to do it again. Be patient and don't short until there are variables to back up your beliefs. The stock could still run a lot more in the next few days.

The Market Kid

May 13th Review

$12,208, Up $350 on the day.

Positions traded for a gain: CPST ($540)

Positions traded for a loss: IMB ($180)

Open positions: Long 3,000 shares CPST @ 3.09

It may look amazing to finish today with gains after how IMB acted, but it really isn't too hard to understand. I felt that I pounded the table yesterday that IMB's major support was the $3 mark. When I say something like that, you should look at the chart and understand why I said that. After that, you should open up your trading software and place a stop loss order at 2.98-3.02, somewhere in that range. If the stock breaks that mark for any reason, then your order will be automatically activated and you will be safe and not losing 60 more cents when the stock plummets.

The rest of the market acted sluggish for the bulls. Same old story, oil rises and the consumers just keep getting pinched. Carl Icahn stirred some things up with YHOO today when he said that he may launch a proxy fight against Yahoo. It appears that he may have bought as many as 50M shares betting that the MSFT/YHOO deal would go through. It obviously didn't, and he is obviously very mad.

CPST kept on moving along nicely even with the down market today. It is a true breakout stock, so I wouldn't be surprised if this movement continue into tomorrow. Three up days is usually what happens after a "buy" rating is put on a stock. If I find any other stock that look worthy of playing, I will post them in the comments section of this post.

MK

P.S. - CNBC is having their Portfolio Challenge these days, so I am definitely in. We shall see how I fare. A lot of good prizes out there to win, so I suggest you people look into and sign up also. I will update how I am doing every so often on the blog!

May 12th Review

$11,768, Down $1,060 on the day.

Positions traded for a gain: CPST ($450)

Positions traded for a loss: IMB ($1,490)

Open positions: Long 3,000 shares IMB @ an average price of 3.33, Long 3,000 shares CPST @ 3.09

Well, stock trading is just great when you make money, but when you lose money, it flat out sucks. I understand many of you are furious as there were 67 comments on my post this morning when I came home from school. When I saw the price of the stock, I was hurt too. You just can't let that feeling get the best of you though. There will be many more plays to regain the losses, such as CPST. But anyway, more on IMB.

This morning I awoke and saw the earnings report that IMB produced. I wasn't quite sure what to think, and when pre-market opened at 3.60ish, I thought investors might actually be liking what they produced. When the stock opened though, the selling started hard and I started to think about cutting my losses. When a midday support mark of 3.25 was taken out I lightened up on my position by 2,000 shares at 3.24. I am still holding those 3,000 shares at 3.33 going into tomorrow. I think that the stock should rebound some since it did not break its large support at right around the $3 mark.

Hopefully you guys weren't too mad at me after IMB? If you weren't letting your emotion get the best of you, you should have seen CPST, another of my mentions from yesterday. This morning it was upgraded to a buy by Merriman, and the stock opened above the 3.05 mark that I had previously mentioned as resistance. That is an immediate signal to buy, and that I did. I went long 3,000 shares at a price of 3.09 early after the bell. This one should continue up for a while as it is breaking out to new yearly highs.

My other mention from yesterday, NTHH, tanked hard like I and many other people thought it would. If only I could find some shares to short! That always seems to be the problem with the 99.9% predictable ones. Hopefully tomorrow will be a bit of a rebound day. Always remember to keep you emotions out of trading. If you freak out about one bad position (IMB), then you will miss another good one (CPST) going right underneath your nose.

The Market Kid

P.S. - To those of you who lost money on IMB, my site is just for informational purposes, not buy and sell signals. Nobody is perfect! I will help you try and make that lost money back though.