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27 Apr

Wednesday April 27, 2011

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You can assume I’m shooting for 10% on all trades with a 5% manual stop loss from my entry price unless I say otherwise or average up along the way. Once and a while I’ll average down to try and dig myself out of a bad trade real quick so that would be an exception. Generally though 10% is my goal going into 99% of trades.

I still have 5k shares of IGOI heading into this morning at $2.99 a share. I am looking for a break of $3.20 which should lift the price quickly right up into the high $3.30’s to $3.40’s before slowing down… $3.28 would give me my 10%. Earnings are next Thursday so I’ll be out before then.

Bought 5k ZLCS yesterday after it broke key resistance at $3.01 and I’m looking for $3.35 or so before selling. I took money on this one already seen on my Profit.ly chart and think this timing will work out too. Earnings are out Monday so I play to be out by Friday win or lose.

Still riding 25k bid buy of CMCI at $.60 which is a highly speculative trade. There is no liquidity and the bid/ask spread is sometimes more than $.50 cents so buyer beware. A lot like my purchase of FCSC which is now up nicely (I sold too early), my hope is it’ll pick up in the future. Remember, if you don’t know how to sit on a bid, then these types of trades probably are better to watch from the bleachers. Even when buying on the bid they can drop very fast even after they start trading regularly.

 

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