day trading

[OnWisconsin]

thought i'd start my own thread since i've been barging in on the wamuq thread. first of the month, got a new basket of stocks priced between .80 to $1.50, will spend the next day or 2 paper trading to see which ones i have a feel for.

right now, i'll be tracking cprx, heph, rpfg, vg, and vsci. i have about 40 others, but i put astericks next to the ones just mentioned for some reason. not recommending nothing yet, just letting you know they're on my radar.

my intent is to make $150 a day, trading 3,000 shares of whatever it is that i buy. most days wind up flat or minus money, but there's a few days of the month where everything just kind of seems to come together. i am considering buying and holding for a minimum of 3 days as i seem to be selling too soon into the pops, but i haven't decided yet. i've also been burned by holding a nice gain into the close only to see sharp dropoffs at the open, so i guess it evens out.

all that having been said, i feel like i can make some decent recommendations and help others make some money. i am not a pro and i've only been doing this a few months, so take everything with a grain of salt. once i buy something, i'll post it here. if i feel strongly about something ahead of time, i'll put it here. but with it being the first of the month and a lot of stocks that i follow having gone past my price range, i am taking a day or two to get a feel for the next batch of pups.

 

[OnWisconsin]

thought: cprx. they announced some huge marketing news today for a drug that treats neurological diseases. the stock gained 200%.

about 3 weeks ago: hlcs announced some huge news regarding sequencing the human genome. they were up over a 150% before lunchtime that day. within the next day, hlcs lost 50%, and the stock remained stagnant for the next couple days and then slowly climbed from $1 to $1.20. during the past couple trading days, it has gone from $1.20 to $3.60 before closing today at $2.80 on a pullback.

let us see what cprx does tomorrow since it pulled back from $1.60 to close at $1.39, very similar to the day hlcs announced its breakthrough news.

let us see if cprx follows this pattern. would love to see it fall to the $1.10 to $1.20 level tomorrow.

 

[OnWisconsin]

thought 2: heph, up 30% today, could be riding the coattails of cprx, as heph is also a pharmaceutical, althought it has no news. keep an eye here, as we might get a continued bounce off the cprx news. got to track the premarket on this one. might be able to get a bounce on the open, but its one year high is only $1.77, so we need to see serious volume in pre market hours to consider jumping in for a buy and sell. definitely a momentum trade here. buy at the open, sell after a 7 to 10 cent jump.

 

[OnWisconsin]

thought 3: rpfg. could be another case of a beaten down financial on the way up for no real reason. after their initial moves up, stocks such as fre, fnm, aig and cit have not really pulled back. if this stock shows signs of stabilizing in its closing range today, it might be worth a buy at this level with the expectation of a good POP. it also has a 1 year high of 8 bucks, so there's plenty of upside. not really looking for a pull back on this one, let's just see if it can hold the $1.30 level.

 

[OnWisconsin]

thought 4: vg....this stock has tripled in the past 2 weeks. it hit its 1 year high and has since dropped sharply the last few days. everyone's heard of vonage, right? very similar to the biotechs that i'm following, vg released some news of some very fine technology i don't know shit about, the stock price soared, and has since pulled back. could very well double in the next week or two. got to be ready on this one. i'm looking for a 20% uptick on open, a pullback, stagnation, and then i might jump in. here i would not so much be looking for a pullback, but a higher open followed by a couple hours of tug of war. maybe a 1:00 buy and and hold until the next day.

 

[OnWisconsin]

let's hit this shit. who am i kidding, there ain't no paper tradin' 'round here.:smoker2:

 

[The Thinker]

good luck this month...

ill be checking this thread... may join you on a few..

GW

 

[OnWisconsin]

cprx. got a nice pull back. in at $1.16 at 8:33

be nice to see it pick up where it left off yesterday. willing to hold for a couple weeks though if need be. very similar trading pattern to hlcs, and the drop at the open was enough to reel me in.

 

[The Thinker]

i joined at $1.15 on the drop back down... ill sell all of mine at $1.40, how long do you think it will take before it gets there...

GW

 

[OnWisconsin]

i joined at $1.15 on the drop back down... ill sell all of mine at $1.40, how long do you think it will take before it gets there...

GW

maybe a couple weeks. after i bought at 1.16 i almost sold at 1.36 for a quick 10 minute gain. what i'm looking for it to do is this: settle within a range -- anywhere from $1 to 1.20, hold there for a few days, then start a gradual move up, and then take off. i'm giving it 2 weeks. really wish i had sold on the bounce after i got in and bought on the 2nd pullback, but second guessing yourself can be a bitch.

if we could get a bounce back to the 1.30 to 1.40 range today, i would sell there and look to get in again. it could happen, but after yesterday's rally it might take a few days to get going again.

 

[The Thinker]

luckily i give everything a 90 day time frame.... everything is falling apart today... guess i hold..

GW

 

[OnWisconsin]

luckily i give everything a 90 day time frame.... everything is falling apart today... guess i hold..

GW

yeah, broader market going to shit today.

 

[tiznow]

i'd be careful guys

all the penny spec plays have been going apeshit for months now....and was some crazy flying the past few weeks all over

guys like AIG...FNM...FRE...ABK...rolling over hard now

if broader market is topped out here heading into gloomy sept that probably stops

 

[OnWisconsin]

i joined at $1.15 on the drop back down... ill sell all of mine at $1.40, how long do you think it will take before it gets there...

GW

nice bounce right now. could see anywhere from $1.10 to $1.40 close. upward momentum for the past hour. i will most likely sell prior to close if it remains above my purchase price to clear up cash for opportunities tomorrow and take a gain on the day.

 

[OnWisconsin]

$1.07 close for cprx, down 9 cents from my purchase price. missed an early opportunity to sell on a surge for a $600 gain, end up down $270 for the day. still following along the pattern i was looking for, so no worries.

 

[OnWisconsin]

tracking vg in pre market trading, looks like maybe we missed the boat on this one. may get a good entry point some time today to ride its momentum, most likely would be in the second half of the day. still holding cprx. an hours to go before the markets open, broader market looking at another negative open.

 

[kuwlness]

Any pop VG gets today will be whiped out shortly thereafter when their balance sheet comes back into focus IMO.

 

[OnWisconsin]

thought: cprx. showing strong support at $1. volume has tapered off but remains well above its average. hoping to see it maintain this price level into the close. if it shows signs of a pullback below a dollar, i will sell for a loss and keep it at the top of my watch list. still expecting a nice POP within the next two weeks. remember, i am basing this off the activity of hlcs after they announced their big news on august 12. so far, cprx following the same pattern.

vg. as i stated above, i was looking for a substantially higher open followed by a pullback. so far we have both. if the price remains at this level for the next two hours and the volume remains strong, i will strongly consider buying into the final 90 minutes of trading and selling just before close in anticipation of last minute pumping.

 

[OnWisconsin]

ouch. cprx falling like a rock. going to stick with my original plan and hold for 2weeks. forget anything else, at least for the time being. i'm willing to be wrong on one, but being wrong on two or three at the same time would be a real nut smasher. this thing was .49 just a couple days ago, so a sharp selloff was to be expected. i had really hoped to see it stabilize within a tight range today.

could be a case of a classic pump and dump and i might have gotten stuck. still too early to tell for sure. all that being said, if i get an opportunity to sell and minimize my losses in the next day or two i will strongly consider it.

to anyone who might have tailed on this, i would simply recommend that you evaluate your risk tolerance. i'm holding because i still like it to make a substantial swing to the upside within two weeks and am willing to hold and risk further decline.

 

[Jason04srt4]

I got cprx @ 1.05 today, now at .91! hno:

I hope you are right.