I’m back in the green and it feels good. Funny thing is I’ve been busy as heck packing and getting ready for a road trip but I’m feeling my rhythm with trading again. Good thing too after missing about $5k profits on LOCM by a few hours and $4k profits on my POTG short because of a ‘buy in’ the day it tanked. Can’t cry over close calls though, all that matters are tomorrow’s profits.
Before I get started on the watch list, let me take a moment to congratulate Boom who is our new and only chat room moderator. Boom is motivated to learn and I know he is going to do a great job.
LOCM earnings are Monday, watch for a short squeeze by Friday. I wouldn’t be holding through earnings here because that’s gambling (See last earnings free fall). Still, there could be a small swing trade Thursday into Friday if you see shorts starting to cover and momentum buyers coming in.
Picked up 20k BERX Wednesday right at the close on the bid and I’m looking to buy more Thursday. This was a bid buy which means I don’t chase the offer unless it’s absolutely necessary. Swing traders make their living buying on the bid and selling down the road on the offer when everyone else wants in. We’re at good support here and it could be a nice swing trade into the $.90 range short term. I’ve got a lot of experience with this and it’s my most successful form of trading.
HOTM is a promoted stock that pulled back today. I don’t think it’s done yet so I tried to buy $.45 on the bid today but didn’t get filled. I’ll look for entry Thursday again and let you know if I take position.
SLLN is another promo that I don’t think is done either. I grabbed 2m shares in chat today and I’m hoping to sell them for a 10% profit or more by Friday. Since the price closed lower than my entry it’s worthy of adding to my watch for tomorrow. Goal is to be out by Friday depending on how it trades from here.