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21 Apr

Thursday April 21, 2011

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Well it’s the last day of trading before the holiday weekend… we’ve have turned the corner here at Live and we’re hitting winners again. I’ll be working on designing the new program for building a $5k account this week and I’ll email the details out. I’ll also work on getting instant messenger for us this weekend… there are quicker ways that I can communicate my strategy and I am always on the hunt because time is money.

I’m not proud or confident in AVVC, it could totally backfire but I’m just trying to scalp it around 1.50. I had a bid order in yesterday at the open for $1.07 and missed it. We talked about it in chat all morning as we watched it climb. Hoping for a dip so I could enter I finally gave up and grabbed 10k shares at $1.35. There are some rumors flying that the company who ran ALZM and KNKT is starting this one… although you never know and it could just be a trap. If it starts climbing 10% a day then I’ll feel better. This one is very risky because of the nature of the trade, so only play if you can stomach the risk.

The way I can feel shorts get scared is when I see big bids come up after a new high offer gets taken out. Like on ZLCS I kept seeing a big offers of like 50k shares taken out, and then immediately big bids came up higher than the offer. I saw a little of that on LOCM yesterday and it’s a good thing to watch for. For this reason I picked up another 5k shares and now have 10k shares at $4.19. Earnings are next week from what I gather so hopefully a ton of shorts will get scared and run it up for us prior to earnings. I’ll be looking to sell in and around $4.40-$4.50 depending on how it plays out prior to earnings. Here is a website with the earnings date, they are linked to Google and they were right about the last earnings date – I think Yahoo just has old information. Click here to view LOCM’s earnings schedule.

 

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