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4 Oct

What Stinks Wednesday, 3 Turds To Short

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OPTT is pump and dump, period! Goal is to short it around $3.40 aggressive or $3.80 to $4 if it’s up again Wednesday and / or Thursday. Bottom line is this, volume went nutty today on zero news. No newsletter is going to hold up a $3 stock for that long and my guess is that it’s coming down sooner versus later.

LVLT was a scalp long in chat Tuesday, only scored $100 bucks because it didn’t run with the market, but what I learned is more important than the $100 and that’s this, distribution is simply nutty on LVLT and if that keeps up there is only one place for it to go and that’s down. Seriously, the market ran 200 points into the close and LVLT, off a good shelf headed down on tons of selling… my guess is it continues and I’ll be watching close because a simple 10k to 20k shares at the right time can equal a solid score if it drops another $.10 to $.20 cents soon.

LOCM is in a bear channel but what stock isn’t. I’ve gamed this stock long and short before and I’m ready to trade it again. For the short to work well, we need to see an increase in selling volume around $2 per share and I think it’ll collapse. If $2 continues to hold, however, I’m inclined to take  a small position long due to reasons I’ve declared in my numerous times trading LOCM. Not to get off point though, my gut says LOCM is heading down in bull or bear markets which is why it made the ‘What Stinks Wednesday’ list to begin with.

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