After just completing the best trading month so far this year I knew the pressure would start right away today.
My short with NPSP worked out with double pleasure. I wrote an article that was published in super fast speed and actually made it to the wire before the open of NPSP. seekingalpha.com/article/249922-nps-phar...
As a result of the NPSP article I was able to see new members joining the “Weinstein haters mutual support group”. People sure don’t enjoy reading about how their stock is overpriced like they used to. In fairness I did close out a little early but I am happy with how it worked out. I closed out some of my MTG long via options.
Near the end of the day Borders finally puked and news hit the wire that they are going to file for protection and that they stopped some payments like rent and vendor payments to protect their cash flow. According to FlyOnTheWall GE finance is going to provide a senior secured credit facility. We all know how this game plays out. Stockholders get diluted to the point that the paper used to make the end of the month broker statement is worth more than the stock. I shorted hard and fast and it was not easy when the pricing went to 100th of a penny. Normally a DOM trade entry tool is great but not so with this type of trade. I currently ended the day with a short of 2200 shares that I expect to hold until Monday. My best guess is that Borders will file on Friday giving time over the weekend to reset by the open on Monday. After the actual filing I would expect to see the stock trade down to under $.20 a share.
FMCN gave me a William B9 signal and I shorted it but I was not able to get any size with it.
PCX wow, and wow. I don’t get handed meatballs like this often but I shorted into the close when buyers thought it was a good idea to get aggressive in getting shares. PCX started out being a William B9 and then after making a reasonable gain today with it PCX moved back up to near the high. I started smiling at her and then took her home for a one night stand. The same can be said about her sister TIBX. I made a little bit into the close from that short that was never closed out.
VRX gave me a Laurel short signal after gapping higher today. I did well with it and no complaints with this low risk short.
I look forward to hopefully waking up and seeing PCX and TIBX open a dollar or more lower. I didn’t jam the gears to hard. I saved some powder so that if they gap higher at the open I will jam the gears hard without burning up my buying power for other possible trades at the open.
Today was also a special day for me with Yahoo. I had my first article with Yahoo published today. I hope to write more including writing about penny stock pumps that are fake to warn people to avoid them. http://www.associatedcontent.com/article/6245950/obama_playing_chinese_checkers_when.html?cat=3
COCO reported and gave about as good as could be expected. The market liked the news and the price did not move up to much to quickly. A very serious strong base is building and I will be looking to add to my long in the next week to options expiration. I am currently over-weight in my IRAs with COCO and have a very small position in my trading account.
BGP + 125
FMCN + 82
MTG Feb 8 put + 39
NPSP + 733
PCX + 196
TA + 286 Brenton gap
TIBX + 117
VRX + 244
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