23 May

Tuesday May 24, 2011


Heading into Tuesday I have 3 open positions and I’m feeling good about these trades right now.

GSTP started to show some signs of life today when PERT arrived on the bid representing 208k shares. Hard to say if he really wants that many, can’t trust MM’s but it’s a good sign for now. The bid/ask was $.12 x $.14 3×1 most of the day with only 5k on the offer, also a good sign. I have 25k shares in the challenge account at $.13 and 50k shares in the main account at $.165 for a total of 75k shares at $.153. With any luck we’ll see some volume like back in January and March.

My PAL picked back up after holding support, I’m sure you can imagine that makes me very happy. Today’s range was $3.33 to $3.72 with shares firing hard into the close. A few $3.68’s hit the tape in the after hours so barring any changes I’d expect to see a gap and run at the open. I have 5k shares at an average of $3.65 and my goal is to sell them between $3.80 – $4.00 this week. Palladium is holding the gains it made today, hopefully we’ll see it continue up into the open tomorrow which should further fuel this bounce.

Finally, I grabbed 10k NWBO into the close at $.70 and put it out in chat only. Two reasons stocks like NWBO don’t need to go out by text and email… first, I didn’t see it running away which it didn’t and second, I’m saving my text and email alerts for the 3 best stocks I find each week and NWBO doesn’t meet that category because it’s already up quite a bit – hence a risky trade. Goal here is about $.08 per share just before the $.80 range, the chart setup alone suggest it could have a bullish day tomorrow now that it’s riding above the 200 Moving average on the bid.



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