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9 May

Monday May 9, 2011

by

Good morning! My watch list heading into today will be light due to the holiday yesterday and the fact that I have five open positions coming into this week. As a trader there are times when I only prefer to carry one trade at a time with 1-3 being average. 3-5 is my top end. It’s important to watch open positions like a hawk and that’s exactly what I do for myself and my subscribers.

LOCM is my swing trade of the week. Entry was Friday at $3.61 and the current price is relatively unchanged as of the close into this morning. More details on LOCM to follow but as of right now I have 5k shares at $3.61.

KIWB entry was Friday too after it pulled back to $.035. I grabbed 300k shares total (200 main, 100 challenge) and added 70.8k shares in my main account at the $.042 at the close looking for a gap and run this morning. Already up 20%, taking profit will be a game time decision and as always more conservative in the challenge account so I’d expect to sell that first.

Also added 7.5k GPL Friday after it pulled back to $3.30 and I’ll be looking to see how silver plays out this week. If it gets bullish again then so should GPL and I’ll ride that wave. If not I adjust accordingly.

Still on the bid of GSTPE at $.021, currently have 15,616 shares there and am trying to fill $.021. Bids were up to $.022 Friday but I won’t chase cause they’ll just walk the fills up like any other stock.

Finally, ANIK is a stock I’ve been holding now for a week or so after I try to win on good earnings. This was never and email or text alert because I’d never advise holding through earnings but it was worth the gamble for me. Obviously earnings were poor and now I’m just looking for the best possibly exit. It’s tested support at the $7.15 range a few times and if it continues to drift that way I’ll just need to cut losses here.

 

 

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