May 21st Review

My picks from yesterday were 4 of 5, for a 32% gain. (8% compounded)

Picks that were triggered:

NLS - "Third consecutive day up for this stock...you should know what that means." - Great short candidate, great profit, gain of around 12%.

TLB - "I'm a buyer of this stock if the volume is still pouring in tomorrow on the breakout today." - Not really much of a gain today, but what a buying opportunity!!! This thing was dipping into the mid to low $2's...what a buying opportunity!

PRTX - "Somewhat of a scammer kind of stock, but it should be a worthy short on a negative move tomorrow if shares are available." - Gain of around 18% on the nice move today. 

NXTM - "Typical big-up stock, should be a short candidate soon." - Not much of a move yet, but good for a small gain of around 2% so far.

Picks that were not triggered:

PRGN - "Huge last couple of days for this stock with earnings and all...I'm betting it turns into a nice shorting opportunity however." - Nice gap-down today, but no real trade open. The $5.50 mark is definitely something to watch coming up.

Today was yet another tough day for the Dow. We just haven't been able to get anything going so far this week really. By the end of our fall today, however, we did approach the bottom of that 8,600/8,200 channel I have been talking about for sometime now. In fact, we bounced somewhat nicely off of those lows. In this range, I'm a trader of small moves, but out of it either way, I am going to be a buyer/seller, respectively. We'll just have to see what the sentiment of the Street is tomorrow. Until then, there's nothing to trade...

Alrighty, here's some picks I find interesting for tomorrow:

GM - Give me a break...I'll tell you...this darn stock. It's quite annoying to see it just double and then lose 50% of its value randomly. Trying to profit off of any of those moves is just impossible, however. It's just a gamble, and it gets annoying. My gamble now is to short this sucker on this pop, though. (Ha ha, I had to.)

OPEN - And just like that, it feels like pre-2007. An IPO is skyrocketing! I repeat, an IPO is skyrocketing! Something tells me it is a tad overdone, but eh, who cares. We needed this. It should be a good trading stock until the volatility settles out.

SWI - Tough couple of first days for this also new IPO stock. Not sure what the restrictions on this stock for shorting are this close to the IPO for this name, but I want to short this sucker under the 13.75 mark if I'm feeling risky, and under 13.50 if I want to make an easy profit.

OGXI - Just another crazy day for this stock. That's why I mentioned that sometimes these types of moves can last longer than anyone thinks possible. You have to be careful shorting and then getting squeezed because that kind of thing is what causes the continued move higher. This stock will be a short candidate eventually. Just be patient.

With the past three days of downward action, there are clearly a lack of plays out there. Make those four work for tomorrow...if you have some, feel free to share by leaving a comment for all.

MK