How To Invest - How To Buy Stocks - Big Wave Trading » Silver Shorts

Four New Long Positions, One Stock I Am Adding To My Existing Long Position, And No New Shorts For Friday’s Stock Market Session

Josh Hayes — Thu, 09 Feb 2012 22:59:57 +0000

Wow. Scanning literally took forever today. Quick side note: Did you all see NSRS the past two days? That is what happens to pump and dumps. I would not only like to thank Interactive Brokers for not having shares to short but would like to thank them for not even having shares period. What is up with that? Stupid. Just stupid. It was just as stupid to move all my funds to IB right before deploying this additional trading methodology. Brilliant! As for the stock market–it just keeps doing what it is doing. There are stocks everywhere making big moves. If you think four longs is a lot, think again. All of these stocks were also possible longs: PCYC LNG XPO VIDE LOPE AXL RSYS AZO LNBB DNN HW GNOM PWER BIOF PEIX ZGNX DUK. So all in all, four isn’t that many. The rest had flaws that caused them to be weeded out. I know I take many long positions and can hold up to 100 stocks at once in my multiple accounts (that I keep at one broker now????? Really?). If you are not comfortable with that, I continue to remind to focus on the quality and take the 5%ers or the stocks I add with CANSLIM traits. WRLS is one of them. CDNS is CANSLIM quality. QPSA CERS CLS I could care less about. I am playing the signals and trends from my charts. I will go ahead and let everyone know that I am taking 25% in on two of my largest positions (FARO and FLT). Both acted odd today, with FARO having red BOP and FLT being way extended short-term outside its uptrending channel. So that will make available more funds for the next round of winners setting up and breaking out. The trend is our friend. We are killing it. At least I am. I’m still not happy with the gains but it is much better than what 11 months out of 12 brought me in 2011. That was simply unreal and could have been avoided. No one to blame but myself. I knew about this side methodology 15-16 years ago. Mine was always superior in my mind. Well sometimes the CANSLIM/BOP method doesn’t work as we saw in 2011. It’s good to have a backup plan. Thanks IB for never having BVSN ECIT or PROT shares to borrow and thanks for not even having NSRS on your system. You are going to lose some of my funds. I generate a lot of commissions. Now Suretrader, Zecco, and Etrade Elite Pro will get these funds. Someone has to have shares of these POS stocks to borrow. Christ, Interactive Brokers, you suck, when it comes to shorting.

new long positions: CDNS (5%) CERS (2%) CLS QPSA (1%)

CDNS – Final cut loss is with a close below the LOD (11.69).

CERS – Final cut loss is with a close below the LOD (3.15).

CLS – Final cut loss is with a close below the 8.39 level.

QPSA – Final cut loss is with a close below the 4.38 level.

adding to existing long position: WRLS (2%)

WRLS – Final cut loss is with a close below the 8.10 level.

new short positions: none

none

One New Long Position, Two Stocks I Am Adding To My Existing Long Positions, And No New Short Positions For Thursday’s Stock Market Session

Josh Hayes — Thu, 09 Feb 2012 02:44:06 +0000

Sorry everyone. I got tricked into playing tour guide ALL day and I am now just getting back. We will have new longs and sells listed later but no in depth analysis. This was not planned and I could not say no. Thank you for understanding. I am selling 25% of SNTS FFN, 50% of ELN OSUR PPHM FPP, 100% of ACLS.

new longs: AMSC (1%)

AMSC

adding: YNDX (2.5%) CVGW (2%)

YNDX

CVGW

new short positions: none

none

Three New Long Positions And No New Short Positions For Wednesday’s Stock Market Session

Josh Hayes — Tue, 07 Feb 2012 22:31:35 +0000

Did you see SVVC and BVSN today? If you did not you need to check them out. I can not borrow BVSN anywhere and IB only had 200 shares of SVVC to short. Even though that side of the market did not work, it will work every day every month every year for the rest of our life. It is not always easy to borrow shares. That is life. What can you do? Today was an overall very positive day for the market. I really expected a big down day so the fact we even closed higher is really surprising. There are only three longs tonight and two are really horrible. The only one that is of quality is a stock I really really really like: PZZI. I love their Pie 5 franchise and believe we have a BWLD PNRA etc. here. That being said I am still sticking to my extremely disciplined rules and buying the max amount I am allowed via this methodology. They do announce earnings after hours tomorrow but I have a feeling it will work out. If not, who gives a crap. We will cut our losses and move on. On that note, look at GHDX and CBM failure today. Last night I saw that the unrealized p/l statement had two stocks down dollar amounts that I deem unacceptable. Therefore, I sold 50% of GHDX and CBM in the AM. This is why cutting losses is the most important tool in a traders arsenal. I saved myself a lot of hurt by doing that last night. Whew. Now those funds can be placed in PZZI. NAII was also a long possibility but the longer term daily chart just made me laugh and therefore I passed. Those insane move downs are just ridiculous. DEXO was also a possible long but I think BOP should be stronger on that one. I said that about SMSI at the start of January and that cost me 80%+ so that will probably happen with DEXO. I will be back later, post surf session, with charts and individual analysis of each long.

new long positions: PZZI (2.5%) PPHM FFN (1-2% it depends on how I feel when I place my trades)

PZZI is producing a pocket-pivot point buy signal and is breaking out from one of the tightest flat bases I have ever seen, on very strong volume with BOP rising to the green level. Cut your final loss with a close below the 50 day moving average, if the stock does not move higher immediately.

PPHM is producing a pocket pivot point buy signal and is bouncing off the 50 day moving average, closing near the HOD, on very strong volume with BOP rising to the max-green level. Cut your final loss with a close below the 1.02 level, if the stock does not move higher immediately.

FFN was close to producing a pocket pivot point buy signal (30,000 or so volume) and is breaking out of a short tight consolidation, closing near the HOD, on very strong volume with BOP holding the max-green level. Cut your final loss with a close below the 1.24 level, if the stock does not move higher immediately.

new short positions: none

none

No New Long Positions And No New Short Positions For Tuesday’s Stock Market Session

Josh Hayes — Mon, 06 Feb 2012 23:10:54 +0000

We must be ready for a pullback as I could not find one chart pattern I wanted to buy tonight. On top of this, I saw many intraday reversals that took stocks from being up nicely on the day (see MOTR) to finishing barely higher or lower on the session. Stocks have been on a non-stop rally since December and it is getting a bit long in the tooth. The logical thing would be to pullback here but if we move up 2% tomorrow that would be fitting. Volume was much lower today on the NYSE and Nasdaq. That is nice to see on a day where we finished down. There really is not a whole lot I can add tonight that was not discussed this weekend. SVVC is still on watch and now so is BVSN again. BVSN is insane and the criminal job that Lebed is doing with NIA is going to result in this stocks death. I only pray I have funds available and IB has shares to borrow. Possible longs tonight included COBR, CMLS, DISCK, and SDIX. I found flaws in all the charts to keep me away. There is not much else to talk about today. Overall, it was pretty dull session. Normal, following a Super Bowl Sunday.

Update: GENE could be a new long. It did not make any of my scans but Jodyy brought it up to me in the chat room. Too thin off the bottom, for me.

new long positions: none

none

new short positions: none

none

Four New Long Positions And No New Short Positions For Monday’s Stock Market Session

Josh Hayes — Sat, 04 Feb 2012 22:09:15 +0000

Did you know the Nasdaq hit new 11 year highs? Of course you did. I think I only heard about 25 people on Maui tell me this and ask me questions like “is now the time to buy mutual funds?” What? Really? Uh, no. Anyways, it was an impressive session and the Russell 2000 hit it out of the park with its second 2%+ gain in three days. I do love that. However, this is coming late in the rally and if you were not fully invested into this move and are thinking about finally doing it I have something to tell you. You are probably late. A pullback here seems very logical but as we know the stock market is an illogical beast. Whatever you think the stock market is going to do, I can guarantee you it will not. While my accounts are starting to finally produce gains on par with past rallies I am still not happy and never am until I take profits. The trend remains in a strong uptrend but we will have to see what happens following this next pullback. If we resume the uptrend, we are going to make a ton of money. If we don’t, trust me, we are about to make a ton of money (at least I am). I have been watching this pump and dump method and my god is it working well. PROT fell 40% intraday Thursday. ECIT fell 30% Friday. BVSN fell 50% from our “top call (chart signals)” intraday on 1/24. What am I watching now? BVSN still, NSRS, STVI, GSVC, SVVC, and to a lesser extent STEV (looks ready to go for Monday), QPSA, and RENN (I know we are still long). If you want to know what the exact start of a pump and dump looks like get ready to watch WTII (you could go long that one on Monday; I only focus on the short side). This methodology made those that know how to trade correctly (ie..trend followers, those that cut their losses fast) a lot of money in 2011 and has always done relatively well. It never ever could keep up with the gains I scored using my CANSLIM/BOP methodology back in the day. But recently it definitely has and in fact it is easier for me to trade. I am still under investigation with this methodology but as soon as funds become available to give it a go (I am fully maxed out on margin long), I am diving in. This methodology is not a good methodology for those with seven to eight to nine figure accounts. Those with three to four to five to six, it is a perfect compliment when the CANSLIM/BOP stocks are not working. Right now, our BOP/CANSLIM stocks are starting to really work (did you see MOTR today?). However, one day, this uptrend will end. Our Market Direction Model will go into a SELL mode and instead of focusing on the CANSLIM stocks like I always have before I now will focus on shorting ANY previous pump and dump scam stock that gives legit breakdown and sell signals. Watch SVVC. Watch what happens after it tops. Watch NSRS. Tell me this is not the right thing to do on the short side. Waiting for AAPL or GOOG to top seems insane to me now. Shorting the 3x ETFs makes sense. Buying the 3x inverse ETFs for the IRA makes sense. Shorting the scam pump and dumps that droop 20-60% in a week makes sense. Trying to find the one moment where shorting the previous generals of an uptrend during a bear market where tons of POS companies are dying just doesn’t make sense. I am experienced enough I can follow everything. The best bet with these POS pump and dumps is to daytrade the breakdowns. That way you can get the 4-to-1 margin in IB, the 6-to-1 margin for elite traders in IB and Suretrader (suretrader gives you 6-to-1 with only a $2000 account). It’s nice to watch this methodology in real time and see why so many morons lose money using it. The #1 #2 #3 #4 and #5 reason almost everyone loses in “playing” pennies is they do not cut their losses. What is our top 70 rules here? Always cut your losses. The winners take care of themselves. We can have a track record of 10% and still win if our nine losses are 1%. It is that simple. This is something the public will never understand. They are sheep. This is why we make a lot of money trading. The public could to if they wanted. But they have decided to be sheep. There is nothing wrong with that. However, I will exploit it. On another note, LAD and NTGR gave buy signals today but after extensive studies going over their charts I simply can not buy either move. LAD is not a smooth operator and NTGR’s move is just too much with not enough previous accumulation to warrant the one day jump. I passed on going long SBH on Thursday. It had a similar move to NTGR. You can see how the CANSLIM quality SBH acted compared to our two new longs MOTR and PBTH. This is an art and a science. Using science in this business works. But if you have an artistic ability to see some things that science is unable to see, you are golden. Have a great weekend. I will see you on Monday.

Market Model Weekend Update

new long positions: TNGO (5%) CYMI (2%) BWEN ACPW (1%)

TNGO is bouncing off the 50 day moving average, closing near the HOD, on very strong volume with BOP rising to the green level. Cut your final loss with a close below the 14.75 level, if the stock does not move higher immediately.

CYMI is breaking out of a tight consolidation pattern and is producing a pocket pivot buy point, closing near the HOD, on strong volume with BOP rising to a higher green level. Cut your final loss with a close below the 50.32 level, if the stock does not move higher immediately.

BWEN is breaking out of a very tight consolidation pattern and is bouncing off the 50 day moving average, closing near the HOD, on strong volume with BOP rising to a higher green level. Cut your final loss with a close below the 0.72 level, if the stock does not move higher immediately.

ACPW is breaking out of a consolidation pattern and is producing a pocket pivot point buy signal, closing near the HOD, on strong volume with BOP rising to a higher green level. Cut your final loss with a close below the 0.87 level, if the stock does not move higher immediately.

new short positions: none

none

Two New Long Positions, Three Stocks I Am Adding To My Existing Long Positions, And No New Short Positions For Friday’s Stock Market Session

Josh Hayes — Thu, 02 Feb 2012 22:55:12 +0000

The market just keeps moving higher. Every dip is bought and supported and as long as that is the case I am on the hunt for good stocks to help replace my bad stocks not moving higher. I expect that we are due for a pullback sooner or later. However, I am not going to position my portfolio and lose my position just because I think we are getting a bit long in the tooth here. I will let the charts tell me what to do. There wasn’t much excitement out there today outside of the gains in PROT. Last night, I gave you a list of stocks that are either under real paid promotion to raise their stock prices or part of a Facebook pump. The companies moving higher off the FB news will probably not hold due to their EPS and sales numbers being so pathetic. The other group is just being moved by criminals that do what criminals do best. Sucker in the weak. The strong take the other end. Last night I told my chat room that PROT is giving a legit short signal here and went over it with my “turtle” that is working with me here on Maui for the next 5-6 months. Today, intraday, was down 40%. I would say we pretty much nailed that. If you are still short PROT, due to the intraday bounce and volume, I would cover all and take the 20% gain and wait for the next signal. The only possible signal tonight is ECIT and it is not legit. It is not closing close enough to the LOD and the volume is not big enough to say “go.” PROT’s volume was not huge yesterday but the price pattern took precedent following that astronomical run from 0.25 to 7.25 in one month. That is a real pump job. ECIT is still way too early. I wouldn’t mess with it on the long side. On the quality end of today’s trading, SBH gave a very strong buy signal. This is indeed a CANSLIM quality stock but the problem is that it’s making a huge one day move for it compared to the way it has traded the past two years. It looks more risky to me than trading MOTR. That is why MOTR is a small long and SBH is on the table. Also, NQ gave a buy signal today. But with BOP going the wrong way and the chart not being tight, I will pass on this Chinese company. It needs to be tighter and more green, in this tape. You don’t have to settle for OK. You can wait for the best. Everything is moving right now. Everything. My biggest regret of the day is SAVE. Hindsight is 20/20 and it now appears after it offered that secondary that the gap up HOD close on huge volume was a buy signal. I wanted it to make a base/handle. Guess that will not happen. 16% move left on the table. On another note. I am watching BVSN and ready to pounce on it the next time it reverses lower. IB now has shares (for now). Time to open a Suretrader account. They have every stock available to borrow.

new long positions: PBTH MOTR (2%)

PBTH

MOTR

adding to existing long positions: YNDX (2.5%) ACLS JKS (1%)

YNDX

ACLS

JKS

new short positions: none

none

Seven New Long Positions, Two Stocks I Am Adding To My Existing Long Position, And No New Short Positions For Thursday’s Stock Market Session

Josh Hayes — Thu, 02 Feb 2012 00:05:32 +0000

Another round of buying winners to replace the laggards we have sold the past two days. Eight stocks out and seven new ones are in. If you are close to fully maxed out, remember, you can either focus on the CANSLIM longs only (PVX LQDT MELI CBM) or adjust % invested in each stock accordingly. Today was another solid session with a pathetic ending. I don’t understand what the market is doing here but I really don’t give a rat’s behind. All you need to know is that I do not trust anything and expect a 3% crash on heavier volume any day. I hope it doesn’t happen and it doesn’t look it will happen but would you really be shocked if it does? I know I would not be. The trend is up, we remain under a full BUY signal, and continue to purge the bad and replace it with the good. Now, when we do pullback, I am sure some stocks will fall hard. I am moving my methodology from a BOP/CANSLIM only methodology to one that is eventually going to be 50/50 or 75/25 CANSLIM/BOP and shorting penny stocks methodology. These are the current pumps based on known stock promotion via emails and message boards I am following: BVSN PROT STEV NSRS SVVC STVI ECIT. I am going to continue to monitors these stocks until a real reversal comes on huge volume. The best place to look at OTCBB stock charts is on BigCharts.com. They have advanced charts where you can change the background to look like telechart by adding candlesticks and a black background and making it “big.” If you do this you will see the pumps pretty damn clearly. It is very obvious. I mean a stock that makes no money, has two products, and has no ability to pay its creditors goes from not trading for two years to moving up 300% on huge volume in one to two weeks. Yeah, that is what we call a pump. I am familiar with these from 1998-2000 as this is what TokyoJoe did. The only difference is he was the one pumping to this retard chat gamblers that then were caught on the other side once TJ sold and shorted on their buying. His actions were indeed criminal and disgusting. So this methodology is not something new. I have watched these pumps my whole life. However, my CANSLIM/BOP methodology always killed the returns I could make trading pennies and once you get a lot of capital you can’t really focus on pennies. However, it is a great way to turn a few hundred thousands of dollars into millions when the CANSLIM/BOP methodology simply isn’t pumping out those huge gains we all got used to from 1880-2007. 2009 wasn’t that bad. But that is not good enough for me. I look to kill it year in and year out. The Market Direction Model and shorting penny stocks methodology will make sure to allow us to do that when the CANSLIM/BOP methodology is not hitting the ball out of the park. I want big returns. How about CALL. I “CALLed” that yesterday didn’t I? Sad. First NLST. Then RENN. Then FLT loses green BOP. Now CALL. LOL. I guess WRLS is next. Nothing can stay hot hot green green can it? Maybe that will change as this rally unfolds. However, go review 2003. These hot beast started green and hot and ended mostly green and very hot. The trend is your friend but cutting losses is a friend with benefits. Always cut your losses. I will be back very shortly with charts and final cut loss areas.

new long positions: PVX MELI LQDT (5%) MDF (2.5%) FSII OSUR GHDX (2%)

PVX – Final cut loss is with a close below the 11.25 level.

MELI – Final cut loss is with a close below the 86.49 level.

LQDT – Final cut loss is with a close below the 34.22 level.

MDF – Final cut loss is with a close below the 8.00 level.

FSII – Final cut loss is with a close below the 4.25 level.

OSUR – Final cut loss is with a close below the 11.14 level.

GHDX – Final cut loss is with a close below the 27.75 level.

adding to existing long positions: CBM (2.5%) ANX (1%)

CBM – Final cut loss is with a close below the 7.76 level.

ANX – Final cut loss is with a close below the 0.66 level.

new short positions: none

none

One Stock I Am Adding To My Existing Long Position, No New Long Positions, And No New Short Positions For Wednesday’s Stock Market Session

Josh Hayes — Wed, 01 Feb 2012 00:41:54 +0000

Wow. This rally just sucks, bottom line. The CANSLIM and hot chart methodology continues to suck and I am growing ever more tired of it. The move to penny stocks is becoming more and more enticing as I continue to be utterly disappointed and disgusted by the way stocks act even during an uptrend. Shit that has worked for 130 years all of sudden just doesn’t work anymore. Whenever stocks move like RENN did yesterday, you have to take profits. The days are gone where that move was the signal that a 300% move was coming. Same with CALL today. You have to take some profits. The days are gone where this would be just the start of CALL. Maybe it will be but with all the sells I have tonight on a flat day in the market there is only one logical way for this market to turn out. And thinking that it will turn for the best is a fairy tale at best. The market might be just setting up for a real run and if that is the case then we will just sell these POS stocks that continue to throw up fake pattern breakouts and move the money into stuff that actually works. Though that is few and far between. My frustration on how stocks act after they create hot charts can only be described on a level 10 out of 10. Look at FLT. Even that stock lost its green BOP. Are you kidding me? Really? It appears all those huge past big winners I had from 1998 when I finally figured out how to hold stocks to 2007 are just a fantasy now. These hot charts and CANSLIM stocks are not going to act right anymore. There are going to be violent one day reversals followed by psychotic returns to where they were (think INVN right now). This is absolutely insane and is becoming borderline retarded to me. I am ready to throw half of my money into shorting pump and dumps (pennies). I have watched this methodology my whole life but the CANSLIM/BOP methodology always killed it. It never even could be considered on par with the methodology I created with my BOP charts and the CANSLIM methodology. Now both of these methodologies are jokes to me. The gains we have seen during the best January since 1997 can only be summed up as pathetic. I have had enough. Starting next month this site is going to go into a different direction by March. No longer will the CANSLIM methodology and BOP methodology be my #1 methodology. They are going on the backburner so that I can use my technical analysis skills to nail tops like BVSN. I know when a pump and dump is done and the money to be made on the short side is so consistent and predictable that an unpredictable methodology like the BOP/CANSLIM methodology right now must be axed. I will continue to work these lame methodologies in the hopes that reality of 1880-2007 comes back into play. Still I don’t live in a fantasy world and I do not expect these methodologies to work anytime soon. It is stunning to see RENN reverse like it did today, know that CALL will do the same thing tomorrow, and watch FLT lose its max green BOP. On top of that stocks like CFX and JAZZ which are both high quality CANSLIM stocks show how useless this methodology is right now. Who knows. Maybe we will get a pullback into March and then blast off higher where BOP and CANSLIM stocks rock it out again. Too bad my patience is maxed out and I am over it. I am cutting my losses. If they work in the future, great. However, only 50% of my accounts will be focused on that methodology from here on out. The other 50% is going into penny pump and dumps. Positions of 10% – 25% will be put in to any penny pump at any one time. I do not expect more than 2 to 3 trades per week, with this methodology. That will be much more mellow than trying to figure out which 1 out of the 100 CANSLIM/BOP stocks will actually return 25% without first producing some insane move like INVN just did to current holders. I am over it. You should be too. The CANSLIM methodology is dead until it works again. There are too many people on this methodology. It’s time to move on. The market model will continue to be used for the IRA and some BOP/CANSLIM positions will continue to be taken but they are now going to even account for less of my account than what they already do per trade. The best setups will still get 5%-10%. But if it is not beautiful to me and looks like the add of AKRX tonight. No more than 2.5% per trade. I am over this methodology producing lack luster gains and producing so many false signals EVEN IN AN UPTREND! That is just ridiculous. Study my past big winners and see for yourself. Those moves are f’ing gone. It’s very very sad.

adding to existing long position: AKRX

AKRX is bouncing off the 50 day moving average, closing near the HOD, on above average volume with BOP rising to a higher level. Cut your final loss with a close below the 11.05 level, if the stock does not move higher immediately.

new long positions: none

none

new short positions: none

none

Three New Long Positions, One Stock I Am Adding To My Existing Long Position, And No New Short Positions For Tuesday’s Stock Market Session

Josh Hayes — Mon, 30 Jan 2012 23:00:09 +0000

Today was very disappointing despite the bullish intraday reversal. Well, once again, as has been since the end of 2007, my two biggest holdings ate shit today. FARO and CFX both are giving me sell signals. This rally can’t even produce any meaningful gains before giving legit sell signals. Whatever. This is why I am moving on to a more “penny” stock strategy. Shorting “pennies” is going to make us the money that the CANSLIM methodology is failing to produce since 2007. The hot charts are still not working. If they do work they do not keep working. This is pathetic and sad. I am sick of it and this is why I continue to adapt my style to make sure my accounts do not lag. The CANSLIM methodology has been a great methodology my entire life. But to be blunt, there are too many idiots and donkeys that use it now. These idiots playing these top stocks are the reason we have some severe volatility where it once did not exist in these high quality stocks. By idiots I mean fund managers. It is pathetic that hot charts and CANSLIM stocks do not produce the gains or even act right like they used to from the dawn of investing time to 2007. They kinda worked in 2009 and 2010 and are kinda working now but the gains are beyond disappointing and to be honest I am sick of it. I see some big gains being made playing penny stocks and even though my account is too big to focus on them I am thinking that a shift into them and out of CANSLIM quality longs is appearing to be a smarter and smarter idea. Before 2011 I was basically 100% hot charts/CANSLIM. After 2011, I added the market model to take advantage of bear markets in the IRA. After watching these lame gains for January despite the market being up everyday I am closer than ever to putting more and more of my accounts capital towards trading POS penny stocks. There are so many pump and dumps that come crashing to earth it is sick. If my hot charts and CANSLIM quality charts can not start producing the 50-300% moves I was accustomed to from 1996-2007 I am going to move on and start to move more and more funds into the “penny” methodology. The action today in my top two stocks has me seriously concerned about the CANSLIM methodology. The way JAZZ acted today. That was just pathetic. I hate losing money and hate giving back gains before any real gains can even be materialized. My faith in the CANSLIM methodology is failing day by day. My faith in my hot charts working has already failed. 80% of these hot charts used to act like FLT RENN and CALL. Now FLT RENN and CALL are the exception. My problem is what if the rally is over. We just did a TON of work for POS gains. I am not happy with that. This rally better continue or I am going to be one very unhappy trader. We shall see what tomorrow brings. Today’s action can be summed up as “it sucked.”

new long positions: HAIN ABD (2.5%) MDCO (2%)

HAIN

ABD

MDCO

adding to existing long position: HALO (2.5%)

HALO

new short positions: none

none

Eight New Long Positions And No New Short Positions For Monday’s Stock Market Session

Josh Hayes — Fri, 27 Jan 2012 23:33:27 +0000

First off, remember, just because I am trading all eight of these does not mean that you have to. Why do I take all of my signals? Because how in the hell am I supposed to know which stock is going to explode 10% higher, like USU did today, or not go anywhere like the other two longs from last night. I simply have no clue and every time I do not take a trade (think NFLX or DANG’s recent 50%+ moves after giving legit buy signals this month) I pay for it. So I spread the money out and get rid of stocks that aren’t working like NLST (WTF was that today?). I am already fully invested so it isn’t like I am putting much into these stocks. However, if by some random chance reason, you are not fully invested you can do what I always tell you to do and focus on the CANSLIM quality longs only. Tonight, there are only two–JAZZ DATE. See, that makes your job much easier. As for me holding 100 stocks on full margin is easy. I understand for most of you it is not. Running hundreds of millions or even a billion dollars would not be impossible the way I invest. The market seemed to shrug the scary day of distribution off pretty well but still had a terrible close, imo. I am still not happy nor will I ever be with the market uptrend. Why am I not happy today? Because, even after all of these years I still make stupid horrible decisions. Last night, while telling all of you to enter market orders on USU, I decided to be cute and set my limits at 1.57. Unbelievable stupidity. Just unreal. I got what I deserved. By dancing around a couple of pennies I missed a 10%+ move. Congratulations to everyone else who has a brain. I seemed to have lost mine for 20 minutes last night when entering orders. I feel no joy in winning. Winning brings me zero pleasure. I simply have to win. I must win. It is necessary for my existence. However, I get no satisfaction in it. The satisfaction comes from the process. Doing this the correct way. I hate losing money. I hate hate hate missing a buy and watching it go on to make significant gains. Watching USU, I see this could happen. Therefore, any victory today in our stocks is washed immediately by NLST acting like a retard and me dancing around a couple of pennies and missing USU. We still made a lot of money today but I could care the freak less because I screwed up the process of buying USU at market. Even though I made money today, I am very upset that I messed up the process. This is how a great trader thinks. Who cares about what you won when you just lost missing out on even more gains? If I got USU at market, today would have been a good day. Instead, today sucked. At least we made money right? I will be back this weekend with some further analysis. Also I will begin to write for Fool.com here soon. I will be able to write articles the way I want to write them and use TA for the first time since 2008 with Realmoney.com. I am done with the horrible website SeekingAlpha.com. Writing for them, personally, has been nothing but a nightmare to deal with. Aloha Seekingalpha. I will not miss you or your horrible editorial team.

new long positions: JAZZ DATE (5%) TBET JKS YGE ADES BMRN (2%) ANX (1%)

JAZZ is breaking out above the downtrend line connecting the recent highs of this cup with high handle pattern and is producing a pocket pivot buy point signal, closing near the highs, on strong volume with BOP rising to a higher green level. Cut your final loss with a close below the 45.81 level, if the stock does not move higher immediately.

DATE is breaking out above the 50 day moving average and is producing a pocket pivot point buy signal, closing near the HOD, on very strong volume with BOP rising to the green level. Cut your final loss with a close below the 6.87 level, if the stock does not move higher immediately.

TBET is bouncing off the 50 day moving average and is producing another pocket pivot point buy signal, closing at the HOD, on very strong volume with BOP returning to the max green level. Cut your final loss with a close below the 1.02 level, if the stock does not move higher immediately.

JKS is bouncing off support at the 50 day moving average and the pivot point area of the early January breakout, closing near the HOD, on strong volume with BOP rising to a higher green level. Cut your final loss with a close below the 6.08 level, if the stock does not move higher immediately.

YGE is bouncing off support at the 50 day moving average and the pivot point area of the early January breakout, closing near the HOD, on strong volume with BOP holding the current green level. Cut your final loss with a close below the 4.20 level, if the stock does not move higher immediately.

ADES is breaking out of a very long ascending base pattern, closing at the HOD, on heavy volume with BOP rising back into the positive level. Cut your final loss with a close below the 21.62 level, if the stock does not move higher immediately.

BMRN is bouncing off strong support near the 50 day moving average and is producing a pocket pivot point buy signal, closing near the HOD, on very strong volume with BOP rising to the green level. Cut your final loss with a close below the 34.76 level, if the stock does not move higher immediately.

ANX is bouncing off the 50 day moving average right after retaking it, closing near the HOD, on very strong volume with BOP rising to the green level. Cut your final loss with a close below the 0.62 level, if the stock does not move higher immediately.

new short positions: none

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