Most airlines up big last few days...usual suspects DAL AMR AAI NWA LCC UAUA etc. have great range and most a 4 day rise from lbb to ubb now...looking scalp on red to short into some of these.
Shout out goes to often seen,seldom heard CABeachBum...a chat regular,he finds some really interesting ones...when he speaks , I listen ...I totally did not see this until I saw his comment here:
(Sep 16-09:38) CABeachBum: wow, PDRT down 91% today
(Sep 16-09:40) Muddy: oooooh man PDRT
I saw it right away on his alert at .17, then jumped in at .20
(Sep 16-10:00) Muddy: PDRT move up to .20 from lods
Took profit of 50% at .30...it even closed wicked strong to hit .38 bid!
(Sep 16-15:49) Muddy: will o/n TMA long too with PDRT
(Sep 16-15:51) Muddy: ooooh .29 bid PDRT
(Sep 16-15:51) TomT: there you go
(Sep 16-15:52) Muddy: .38
So thanks Bum and if you are the same CABeachBum that posts BEER REVIEWS on.. http://beeradvocate.com/
a double thanks!!
Beer and stocks ...that's the ticket!
9 comments:
Hi Muddy,
You called FNET on 9/11 at this blog followed by your statement, "FNET gotta be a top watch..lbb to ubb in 4 days from almost 4 to almost 6. Plenty of shares on ib,maybe not for long." I had read your lbb to ubb post just a day ago or so, I watched FNET all day on 11th, it started red, closed to green. I watched it all day on 12th, at GOTS chatroom, I kept arguing with others it would be a good short despite others telling me this is a low volume illiquidate stock and pass this one. But I remembered something 13th mentioned he liked low volume stocks to short as it could be knocked down badly even with only a few hundred shares. Tim also mentioned he will have FNET on his watch list when someone mentioned FNET on his livestock that day. It reached to $6.60, then started dropping, I shorted 1500 shares at 6.32 and kept advocating in chatroom it is a good short. Yesterday, it dropped hard to $5.31with low volume (less than 8k shares), of course. I covered all. A second largest gain of this year for me and I wanted to thank you very much for your greatest picks.
Warmest regards,
Ryan
Thanks Ryan,
FNET did look really good to me..Mostly what I care about is the volume on THE DAY THAT IT SPIKES.
On the spike day, 9/10 it wasn't great by any means at 67k but imo tradable if it starts to fade on any volume the following days..as long as the spread is tolerable.
These can be the slow steady sinkers that are easy on the heart...MKTY comes to mind on the 7/22 alert ...it lost all vol few days later just under 4 but not it's ability to stink it up,in fact closed at 1.37 today.
13th said to me aside.."this stock will be at or under 2 in a month,just hold on"...that was when it was at over 5 on 7/23.
PDRT he said the same on it's spike 8/20.
He said should see 1.50 at least when the vol dries to nothing
He said and shorted the next day at 2.12 ..today it closed at .35, 3 weeks later!
13th is/was amazing in his uncanny feel to pick things up,the student taught the teacher quiet a few things...this volume thing with the shorts was just one of them.
Ryan, totally agree from what I've seen on the low vol. stuff. In fact, it was because of hearing that from 13th that I got shorted PTEK after it ran Aug. 19 to over 5...next day no volume at all, dropped quick at one point to sub 5, shorted there, it just sort of floated down all day. I had the impression, too, that the next day wasn't a true green day at all...it was just bored shorts covering, including myself in the morning for a nice gain "easy on the heart" like Muddy said. CEVA not quite same setup, but still faded, too, couple days ago (9/11) in the same way after probably a short squeeze made with market orders. No volume, sunk down for a day.
Muddy-
Thanks for the post tonight. I have to give 13th the props for even putting PDRT on my radar 2 or 3 weeks back. Unfortunately I completely missed out on this bounce today. That's the downside of living in L.A. and having to commute in to work right after I sent out that alert. Figured it was too risky to hold on to during my hour drive in to the office. Glad some of you in the chatroom were able to take advantage of it, though. I've learned a ton from you, 13th and Laura (and continuing to do so), so thanks for the education you provide all of us.
Let's hope tomorrow can be as fun as today was! What a ride!
Oh, and wish I was the CABeachBum who posts beer reviews on beeradvocate.com. My kinda guy! ha!
Beer and stocks...can't beat it!
I posted about my favorite short PMI- about 2 weeks ago-when it was trading above 4.50- still holding that short--- it's been lovely-
I also have been following some of the stocks on this blog---the picks have worked out nice as well...
thanks- hello to 13th and Laura
Muddy,
I was reviewing your airline picks after the close today and noticed that the airlines had gapped down at open. My question is: If you're playing them on green to red, what do you doifa stock opens on a gap down? Clearly there is no green to red on the chart? Do you buy at the open? Do you ignore the stock for that day? Do you play the momentum since you were looking to short it anyway? Thanks.
Great comments all!
Bluecollar,
True the airlines did gapdown open and never did see green,but the ones that ran from lbb to ubb,(from what 13th taught me)are the ones to just short right at the open on red,no matter.
DAL AMR LCC UAUA all had that chart
Thank you for your reply! I enjoy the chat, the blog, and the comraderie generated by it all.
In case you haven't noticed :-), we are grateful to you, Laura, and 13th for your efforts.
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