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Diary of A Day Trader© : April 13, 2011 The Fog is Lifting With OSN

|Includes: Ossen Innovation Co., Ltd. (OSN)

Handling re-entry from Italy as well as can be expected. Drank a nice 2006 Monsanto Chianti Riserva last night to try and keep the Italian trip going. Wine was good, but Culver City, California just isn't quite Tuscany.

Markets are shaky today and the OTC stock Kool-Aid Drinkers who have been running up the prices of completely junky stocks seem to be taking a breather, with much of the smart money already cashed out, with ALZM, BORK, CTSO, soon to be joined by LEXG and JBII in rug pull land.

I decided to follow most of my own rules--the ones I mentioned yesterday that I didn't follow--by liquidating some break-even positions, and taking a small loss in another.

I've got one play today that should have some legs: OSN, a rare earth related issue that announced nice earnings. Market participants have yet to plunder this one, and the story is too good to go unnoticed for long, especially as rare earths continue to leave the planetary price stratsosphere. I grabbed some at $2.60. The $3 cross is coming! And I'm still holding on to my babies--STVI and VKNG.

Good luck, good trading and arriverderci Italy!