PLG RMTI HZO GOL COGT SIRF BAA ABD SNR OREX STEC ABG SNMX DCTH CHB OZN KOG SORC
And yeah I sound like a broken record but........
If you can get the $10k and serious about shorting IB is the one!
First of all their premarket scan rocks.
If you were in chat today (or read the log later) you saw I said GNVC was my top watch as it was way swishy over there in pre.
The best plays are often the ones you DON'T get on your scans at night and GNVC was no exception.
So on it's breakdown of $1 I go short at .95 with 3000 shares.
But almost all brokers won't allow under $1 shorts.
BUT of course IB does and I did.
I covered near eod at .62 for nearly a $1000 on a stock i'd never been watching and one I doubt I'd get borrows on from very few brokers!
The stock I talked about 11/17 VTEX,the Beacon/Quality Stocks "venture" had gone from .63 to .39 that day.
THAT was the good news...today it "eased" on down to .18 losing another 61%.
Don't believe any of that crap pump/junk...you know how they say "I got a bridge to sell ya?"
Speaking of bridges while I'm ranting...MTTG was the huge pump during Minnesota bridge distaster..so I researched it...they had 2 freaking service trucks to service the "thousands" of bridges around the country...now the stock sits at .002 from near 2,basically worthless...just like FESI,that was gonna have "ginormous news now any day" since trading at $1 in September,it's been on a slide since then and I know of folks that have bought on the way down...today was the death blow,down 72% at .008,yup .008......WORTHLESS too.
Beware of what you hear!
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I got a Beacon pump email about SSVE.ob just today- "This company will make millions while the economy collapses." It only has like 5K shares trading lately but I wonder if will get more traffic soon and a price increase. Nothing to see in a chart right now.
Thanks for the extra insight tonight!
welcome...I got PURO too from them the last 2 days..it hasn't even waited to spike up,haha...and PURO has borrows too on ib,i'm waiting for a spike if it ever happens to short into
What do you mean by GNVC being "way swishy over there in pre"?
Do you mean it had a large gain during pre-hours?
That's simply amazing work Sir Muddy!
Muddy,
Do you reserve your shares ahead of time in IB (like in premarket) by putting in a limit order much higher than the current bid price? Or do you simply put in your order when you're ready to short and just see if it gets filled?
Anybody looking to short with IB needs to remember the $2.50/share cash requirement for stocks under $5. So if you want to short 3000 shares of a $1 stock, you need $7500 cash in your account.
Ahh ok.
Hey, Muddy, where do I find the Preleader list in IB?
hi mobb....
GNVC bid/ask was all over the place in pre indicating there was big interest in it.
Plus it had decent volume in pre.
seeing that it closed the day before at 1.15 and the bid/ask was jumping around the $1 mark it was a pretty safe bet it was gonna open down around 1.
Whether it would break up off 1 or down I didn't know but that info made it a top watch for me
Since it was having trouble holding 1 right at the start,I just waited for confirmation(i hoped)at .95 and went in short.
Yng..
I rarely reserve shares but if I do I put in a high limit order.
I just put in the order and see if it gets filled.
Don't rely on ib color coding for available borrows,just try to get shares,most times you'll get a fill.
Go to the PAGE on the menu and create a MARKET SCANNER for the pre list/top % gainers.
If you are in chat and have trouble doing this just pm "denmother" Laura,haha
Thanks, Muddy!
Hi Muddy,
Today you shorted LEA, and when it went further up, you added on to your position. By eod, it went back down and you have had a great trade.
If you don't mind, could you provide the price levels at which you got in and out?
How did you know it was going to go down? If it had shot up big time for some unknown reason with no sight of reversal, would you have continued holding?
Thanks for your help, and for your great calls.
mobb..
I didn't just first short LEA today,I first shorted it at 1.40 on 11/14 then added another full at 1.50
then on 11/18 I added another full at 1.40 and then added a fourth full today at 1.14 and a fifth at 1.31.
So I'm in average short at 1.35 on a $17.5k position....like my SIL short where I was in $15k short on adds I smell blood and going for it...I do not recommend this for anyone else but on SOME junkers I have NO fear.
Icahn, a HUGE player sold off most of his LEA...I'm just tagging along short...whether right or wrong you'll see what happens...as of now I have $4500 profit..it's a "feel" thing,comes with watching the same stocks over and over,year after year.
the news:
Carl Icahn's retreat from Lear Corp., reducing his stake to 4.95% from 16%, echoed Kirk Kerkorian's decision to cut his stake in Ford Motor to below 5%. That is the threshold above which investors have to report every sale. Both men might feel happier managing their positions away from prying eyes.
Oh and GNVC a replay of yesterday..shorted on red (if in chat you'll see I said that at the time)at .625,covered at .42 for another $1300,trying to just ring them up and bring on the next
"I smell blood and going for it...I do not recommend this for anyone else but on SOME junkers I have NO fear." Hence the doberman next to Mr. Muddy's name...
Hi Muddy,
Thank you for taking the time to answer my questions, really appreciate it.
Yes, I understand that you have been trading for more than 40 years, and that some things just come naturally to you.
It is really great to have you in the chat, and thanks for all your help!
Muddy, tried to open an IB account and they rejected my margin request because I was a student...any other broker that allows to short without calling and locating???spazz912
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