I think it is about time to jump in on the action. I am coming in with a make or break mentality. I am going to start off with a single account of 1K. I may split up to 2 or 3 in the near future. I am throwing TA out the window for the most part. I am going to be playing follow the MM's with L2 activity ONLY for now. Some trades I may be in and out of within the hour. Some I may hold 1-3 days. I am looking to milk every last cent out of a stock (time permitting). I will be playing high risk/reward OTC/Pink and Naz micros only until liquidity becomes an issue.
I will be entering positions with a 33.3% percent initial investment and adding 33.3% if I like what I am seeing. Under amazing circumstances I may go in for the 99.9% initial investment if I sense surging. Once again this will be for my initial kickoff. We all know of liquidity issues on pennies/micros especially during downtrends/mass profit taking. I travel for work often which is going to limit my trading time. Due to the nature of my trades, I will need to baby-sit L2 activity so unless I feel a long term (2-3 day max), trades will only be completed when I am available and in town. I will post charts and my reason for buying immediately after purchase. I am looking for high volume low floats that can be easily moved with some above average buying pressure. I think my obsessive studying of Market Maker movement and L2 activity to stock price movement has matured and I will test this on the forum.
Either way I will test the Pump and Dump theory to the fullest here ;) .
WaX
Go for it Wax!
Sounds exciting! Thats actually what i would like to do...but, not very good at it. Just want to get in and out quickly on stocks that are moving for whatever reason.
Good luck to you..i will be watching! ;D ;D ;D
julia :D
Watch List for Monday will include the following:
MOTG -stinks of one hell of a reversal/bottom play.
CNST -Watch for bid support and breakout possibility.
HOGC -OIL is hot and many people who move pennies are pushing this higher ;-)
EMXC -Huge Moves. If this doesn't do the usual 3rd day gap and dump I smell a bag or two Monday.
UPDA -Oil and has been kind to me. Bought in and got out before the second move. Need more out of it and LOW float.
GETC -Fearful to return to scene of crime after 150% or so gain I milked Friday.
Out of spite and limited time Monday I will be buying one of these 6 stocks.
It sounds like quite a ride you're embarking on. Fascinating to see all the different strategies on this board.It's a little high octane for me but I'll be watching your progress with interest. Good Luck ;D
In HOGC @ .294. 33% invested. Lets ride. Support looked good and it looks explosive assuming I got a fill @ .294. ARCA is looking for a large fill at .30. Smells like good support to me. Either way the ask side is propped for an explosion while the BID will give me ample time to unload with minimal loss/gain if needed. Lets see what happens
Well it didn't close as strong as I would have liked. That last cent was from a MM's 500 share trade. BID side is looking very weak to me. Unless some mass mailers/news comes out tomorrow I don't think I will add or hold. Either way I will take the 16% for now. Green is better then red ;)
Good for you Wax ;D...thats right...green is always better than red ;D
will be looking for your next picks.
good luck ;D
julia
Still holding strong. Some strange activity towards close from the infamous ARCA. Seemed to have wanted that spread locked @ 34x35. I am thinking some news might be out tomorrow or the next day. Depending on movement tomorrow morning I may add to this position along with taking something new. I am watching about 20 stocks right now. I am going to try to grab the "best" looking one for this project.
Wax,
Good luck to you. I will be following your post very closely.
I applaud your initiative! ;)
in jkri @ .0049. 100K shares. Risk/reward was tempting
Update. Due to fill issues and mainly bad math this test is starting off with $1,184.95 to be precise ;)
Current Holdings
HOGC 1,025 @ .294 = $301.35
JKRI 100,000 @ .0049 = $490.00
FCCN 24,000 @ .0164 = $393.60
Account is up (cough cough) 2.18% This equates to a whopping $25.80
I missed the dump part of the pump of HOGC today. At this point I am going to continue to hold unless I need this cash for one of the other two. Planned exit @ .39 to avoid resistance.
The charts looked to damn good to pass up for FCCN and JKRI. I bought in early on JKRI in case a breakout happened at open. The ask was propped for an expolosion which never came. I was prepared to eat 10-20% on that trade because the reward was so great.
FCCN I bought into a bit early. The chart says hold while L2 says sell. This one might be going early tomorrow AM. News or volume would help this along nicely.
Today was a bit of a setback for the "project" I went 100% liquid until I saw CKEI. I am in for about 33% of my remaining funds. I see no reason for this not to gap tomorrow. Hopefiully I can get this pretty close to even again.
Anyways todays sales included....
Sold 24000 FCCN @ 0.014 324.99 (loss of 68.81) <---- I think shorts have there claws in it
Sold 1025 HOGC @ 0.34 337.49 (gain of 26.14) <---- Money can be utilized somewhere else that is in an uptrend.
Sold 100000 JKRI @ 0.004 388.99 (loss of 101.01) <---- I think the naked shorts are flying again. Odd L2 activity.
Bought 9750 CKEI @ 0.0345 347.36 <---- SHOULD cover loss of the other two tomorrow morning.
Either way it is a minor setback. That is what I get for reading into charts with pennies. My plan was to hit and run for the beginning. Bad moves = bad trades.
Also I am using Ameritrade so the $11 trades are decimating this account. I am going to try to squeeze a couple pump and dump baggers+ into this ASAP!
MMs were doing odd things with the ask spread. Mainly ARCA putting out HUGE blocks of shares at wrong prices.
So all in all this project is off to a bad start as I am down $235.82 including trades. Lets see what tomorrow will bring. Odds are I am going to ride out CKEI and be liquid for Monday. Lets see what happens.
Hmmm Friday was another minor setback. I wasn't around from 11-1ish and was I n for a suprise. I noticed ARCA scalping the ask to the bid with maxed out blocks in the morning. I truly feel this was kept from running a 4th day. I am going to add to this position in the morning by at least 33%. I might pop the other 33% in this or the most risk/rewarding stock I can find at that time. Whatever looks like it may run hard I will have to dump it into.
Edit: "ALL" in for the most part. Holding 30K shares at an average price of around .032. ARCA is scalping the price down with 999 blocks once again. I am assuming there is a massive short interest in this. I think I will be holding this one for a bit as it is not worth my selling at this moment. Lets see what happens!
Yeah, yesterday crushed this project well... the .025 support was put down by ARCA with ease. I am going to have to hold this guy until the "full" year end financials are released. If I can get out at even I will consider this a win ;) . On a positive note I realized I hate penny stocks more then I did before. Shoulda just stuck to smallcap nasdaqs to get this thing kicked off. Oh well it is no where near over yet!
Patience is paying off on this guy. I think people are loading for the positive year end financials. I have no doubt the project will be green and some over the next few days. Bought time if I do say so myself.
I couldn't bare the pain of the manipulation by the MM's any longer. I dumped... unfortunately in 2 batches today. With the remainder of my money (after a savage beating on commissions) I have purchased 22,500 shares of EYII @ .027. Going to let it ride on this guy for a few days if not longer. I have limited access to the net this week so I need a "safe" bottom play with an established company. If all pans out this will be a slow and steady rocket.
Ahhh how sweet it is... This should have another bag or two in it for me. Back to even in 5 hours. Lets see how this goes >:D. Odds are, time permitting, I will sell half the position tomorrow at .054 and ride the free shares. There is no doubt in my mind it will achieve this level very early on. This would have been a two bagger day but many patient bagholders waiting for an EYII move like this were unloading (with a sigh of relief I am sure). Tomorrow should see some light to moderate profit taking allowing for some more action to flow into Weds (IMO).
Sold 10K shares at .06 = 600$ . Riding out the other 12250 shares for a bit.
I bought another block of eyii yesterday at .035. I mixed it in with additional shares for myself. Going by the 600$ I received from the sale at .06 that will give me an additional 17,143 shares for the project. So in total for the "project" I have 29,393 shares. The average price for all of these is around .031. I have a few sell triggers lined up just in case it hits my target today as I will be unable to watch the days activity.
Still holding eyii for this project and looking to rebag at least one more time. For the personal OTC portfolio I have loaded even more eyii on the dip. It is starting to feel like a bit overextended but oh well. I have also broken a cardinal rule and bought a Pink sheet. Not only did I buy it I went over my usual full otc position. If anyone cares it is MYRG and I have great feelings about it.
Alright I got bored and sold off this projects worth today. They were dumped at .053. This gives me 1,557 and change. I will buy and post something when I feel it will at least bag for me.
Alright the project now holds 35000 shares of myrg from .022 (transfered from personal). Don't worry I am down almost 10% on it. And I have filled 39500 shares of sevi at .013
Alright some quick math before I get to buried. As it stands now...
Account total from sale of EYII = $1,557
I am just going to copy and paste from trade history from now on. This is taking way too much of my time. Between the project and portfolio I am falling behind.
-------------TradeOPEN----------------------------------------------------------
02/09/2006 10:46:28 Bought 35000 MYRG @ 0.022 -780.99
---------------------------------------------------------------------------------------
-------------TradeComplete----------------------------------------------------
02/16/2006 09:30:04 Bought 39500 SEVI @ 0.013 -524.49
02/16/2006 09:46:37 Sold 8000 SEVI @ 0.024 181.00
02/16/2006 09:46:45 Sold 6000 SEVI @ 0.024 143.99
02/16/2006 09:50:19 Sold 25500 SEVI @ 0.024 600.99
--------------------------------------------------------------------------------------
Total in pocket post trades for SEVI = 925.98
So going from above
1557-524.99-780.99+925.98=$1177 (This does not include my current MYRG holding)
So at this point I am up my holding of MYRG (Which by the way is way up on the day) >:D
Damn that was rough
Getting a bit bored with MYRG but the chart says hold. If I don't get 50%+ more by Mid Thurs it will be sold quickly. My next stock pick will need to be a bagger. I will be taking my time with the next trade if anyone cares. I will prob play the PR game next round. Stay tuned.This project needs to get to 5K stat so I can get it truly moving.
02/21/2006 10:24:52 Sold 35000 MYRG @ 0.021 723.98
$1177+$723.98 = $1900.98
Ok the account balance is now at $1900.98. It is totally liquid until I see something to strike on.
02/22/2006 09:48:12 Bought 600 PTSC @ 0.82 -502.99
02/22/2006 10:53:37 Sold 600 PTSC @ 0.885 519.99
Snore
Ok the account balance is now at $1917.98
02/23/2006 11:42:28 Bought 5899 PTRS @ 0.095 -571.40
02/24/2006 09:38:56 Bought 1850 CHMD @ 0.261 -493.84
02/24/2006 10:17:31 Bought 2300 CHMD @ 0.21 -493.99
Current purchases have totaled $1559.23 including trades. This leaves me with $358.75 for trades in the project. I will be eying both of my current holdings and adding to the one I feel will return in the very short term.
Odds are I will be buying more CHMD either on another bottom or any forwrd movement (like I have any other choices). I jumped the gun on these trades and I am paying the price. I should have know better but I did it anyways. Risk/reward is weighted heavily (risk side) when trying to build up from $1100 or so. I am currently down $147.30 on my holdings and looking to be + that much if not more early on Monday. I smell $2500+ a day or two away.
Once I get this account to 5K the magic will really start happening ;-). I think I will be moving more $$$ to this account to take care of the 3 day non-marginal hold on these OTC stocks. That way I can daytrade them a few times. This buy and hold is not the way I like to play. Let me know if that would be considered "cheating" within the projects rules.
Wax
I am going to be buying the following today for myself for now. I need to figure out which one goes to this project.
Update 02/27/2006 09:31:25 Bought 30000 WHAI @ 0.011 -340.99 <--- Lotto ticket for this project!
Buy CHMD (Why not)
Buy WHAI (Lotto ticket. Looking for fill at .01- .011) <-- Bankruptcy filing and HUGE drop. People will want this price driven back up really soon so they can dump. I want a piece of the pie.
Buy VNBL (Chart looks primed and ready to pop)
Buy CLBE (News and chart ready for next leg)
I am think I am going in WHAI. Highest risk reward and just what this project needs more of ;)
02/27/2006 13:01:19 Sold 5899 PTRS @ 0.09 519.90
I will tally up balance sometime tonight or tomorrow morning. As it stands this is what I am holding...
The lotto ticket
Update 02/27/2006 09:31:25 Bought 30000 WHAI @ 0.011 -340.99
Positions
02/24/2006 09:38:56 Bought 1850 CHMD @ 0.261 -493.84
02/24/2006 10:17:31 Bought 2300 CHMD @ 0.21 -493.99
As it Stands
Current holdings leave me with $537.66 for trading. I feel like I found a gem while scanning yesterday. I will be buying in the am when I see my entry price. chart below.
Quick update. Math will follow later.
Big hit on 02/28/2006 15:01:07 Sold 4150 CHMD @ 0.17 694.48
Bought 03/01/2006 09:30:16 Bought 750000 GWGO @ 0.0009 -685.99
Just going to play GWGO today and hold the lotto ticket till death ;D . I have too much in my portfolio right now to put much time in here for now. Anyways as it stands ....
$546.15 Cash
Bought 03/01/2006 09:30:16 Bought 750000 GWGO @ 0.0009 -685.99
Update 02/27/2006 09:31:25 Bought 30000 WHAI @ 0.011 -340.99 <--- Lotto ticket for this project! Bankruptcy is a bitch. Ticker is now WHAIQ. I will hold until delisting or 5 cents. I think I know what will come first hehe :P
Holding GWGO. I have good feelings about it this week. Also much to my amazment the lotto ticket seems like it might run hard. I will however believe it when I see it. >:D I am going to just hold my positions and not add to either. Once I am out GWGO I will be looking for another huge pick. Odds are going all in on a multibagger. Mine as well make or break this project soon as it is starting to bore me ;)
03/06/2006 10:22:04 Sold 750000 GWGO @ 0.0017 1,263.97
03/06/2006 10:58:35 Bought 50000 XKEM @ 0.0219 -1,105.99
03/06/2006 11:44:19 Bought 7700 XKEM @ 0.02 -164.99
2 partial fills on XKEM oh well. I am done on it for now. I am busy atm. I will post back later
---
Update
Cash after sale = $1810.12
XKEM Buy -1270.99
Liquid = 539.14
Rational: MMs will NOT let GWGO move right now. Watching ARCA in action on L2 confirmed this. Some shadey #@^$ going on for sure. Bought XKEM seeing as it is smoldering. This will gap and run hugely tomorrow. looking for a 50%+ return in a day. As it stands now
the project is around 2K excluding whatever run happens tomorrow. Hopefully I can get it between 2500-3000$ by close tomorrow. Then it is all in on the hottest little thing I can find. 5K coming soon!
I am all in XKEM. I bought a ton. I will do the math on what the $$$$ I had left in here equates too.
03/07/2006 09:44:22 Bought 24000 XKEM @ 0.0235 -574.99
I will use that partial for this project. That put me -34ish$.
Holding is now 81700 shares of XKEM
Cash Balance = $-35.85
Wax,
I like your stock picks.....I've been following most of them, recently I picked up
XKEM as well, 100K @0.012 March 02/06.....in much the same way I started off at
1K and my aim is 5-10K....whats other picks do you have in store? and at what price
target would you leave XKEM at...
The Sand man
Hard to say where my exit is going to be.... I will have to base that on the fly from market activity. Will post back later... going to be busy this am
Interesting day. XKEM is going to explode. Watching MMs in action on L2 firmly confirms this. They are doing EVERYTHING in their power to shake every last share out of the weak traders. The only reason this stock isn't +.05 already is because of them (ARCA). The price is brought down all day and allowed to run on its own for the last 10 minutes. In these 10 minutes it returns back to normal levels. Imagine what unfettered trading would do to this. Anyways rant over and I am holding and possibly holding for a longtime. My personal portfolio is flooded with this stock. Almost a make or break trade for me >:D. On another positive note people are pumping my lotto pick. Chart posted below. .10+ or bust on this one!!
Not much to say on the days activity except..... Pimpslapped. Going to ride this storm out till payday.
Quick update. I dumped ALL of my XKEM holdings. This does include the project too. I hate the MM activity and I also saw a fresh MM on ask this morning. It wreaks of dillution to me. There are many other less manipulated stocks out the for me. I am off on vacation until next Monday I believe. I however may not be trading until a week from this Weds. GLTA and I will be back to bag this time ;-)
03/13/2006 10:14:00 Sold xxxxxxx XKEM @ 0.0215
Cash holding @ 1720.70$
Bought 400K shares of ADVC @ .0037 = 1480 + 11 commish = $1491
Been REALLY REALLY busy with work and that damn thing called life. Anyways I sold ADVC @ .0031 today. I saw an MM on ask I did not like. I believe further dillution is taking place. Just like with XKEM (look at it now). Anyways sale minus commision leaves the last trade at $1229.00 I also dumped my WHAIQ at .009. I gave it enough time. So after the sale of that minus commision leaves me with $259. After the XKEM buy I had a total of $229.70 remaining liquid.
So to add it up the account after todays sales = $1717.70
This late morning purchased a mixed price of EFSF. 2250 shares worth. The average price works out to .427 rounding up.
03/27/2006 10:37:10 Bought 2000 EFSF @ 0.43 -870.99
03/27/2006 10:40:10 Bought 250 EFSF @ 0.40 -110.99
It was moving a bit fast to get a full second buy in. I forgot to AON. Oh well.
So after all this math clears I have the EFSF and $735.72 liquid. At least I should get a good gapper out of EFSF tomorrow am.
Wax,
It's nice to see a shot of your level 2 screen.
I'm just wondering if you ever highlight your suspected AX.
Hi ares
I was checking out this thread because it seem to maybe be one to watch but after checking real close you'll notice that chart you refered to in thread previous to your's is one year old.
This is one of the problems I've always thought should be looked at. I don't see anything wrong with deleting a thread if it hasn't had any new post on it for a time lapse of say 6 month because any thing after 6 months has nothing to do with whats happening at present time and will keep people from being mislead about a stock that think might be a good one at the present time. Another good thing would be to trensfered it into a thread of past picks that hasn't had any new post for a certain time period.
Goodluck trading