Held off on anything new Monday and Tuesday, anticipating the market drop and sure enough it crashed -470 points Tuesday. Now I think it’s time to act so here’s the plan.
GLUU above $4 is where I’ll add to my position as noted in the original alert. I was 5%+ here for a few days but didn’t lock the win because of partial size and a goal of $5+ here. I’m thinking 5,000 more shares above $4, stop below $3.90, longer term hold for $5.
FNMA is my true long term pick and think now is the time to add it. I’m looking for 10,000 shares above $2 and plan to keep this for months to years after entry, unless it pays faster. Thinking the conservatorship gets dropped here and it’s a 10 bagger at least once profits return to shareholders instead of the government. Since it has bounced in the last 3 days I’ll probably scale in with 5,000 shares at a time.
GEVO above $2.30 looks great for a 1-2 week swing or less. I have a position in the active trading service as well and think 10,000 shares here could pay nicely in the low $3’s. The company is due for some big news and it could be coming soon now that they’ve settled their patent dispute with Butamax (BP and Dupont owned) and teamed up with them.
TVIX is probably done soon and this pop to $20 looks desirable to short. I’m not in a rush but do believe a 1 month hold could deliver $5+ / share on the way back down to $10. I’ll be watching for 1,000 shares around $19, stop above $20, swing for $10 and cover it up.
Your Swing Trader,