While the market has been getting hammered it has taken FMCN down pretty significantly. FMCN is THE advertising and marketing firm of china. Word is they will get a TON of clients for the bejing olympics in 08. I think this will be a great long term investment down here. I am going to buy half a position here and more after I see what the market is up too.

I bought in today @ $41.50.

Noticed today that I got payed a $15 dividend from Nintendo. At thee same time I was cahrged a 7% "foreign tax". WIERD. I dont even own it anymore. Part of the reason i sold it was because I never knew what was going on with it. I never got good news and I could never watch it trade. It was a good stock to own while I had it, but I would rather invest in a company that I can trade actively. I think I am going to stick to stocks trading on the american exchanges.

Here is Andrew Hunt (On The Lot Contestant) filming his short film. I got VIP access to the shoot =)

Tried to make some cash off HOKU today but not much action. This stock is super volatile which is great for trading. Problem is, sometimes it is hard to get shares for shorting.
Todays trade:
Short 400 shares @ 7.08
Covered 400 @ 7.00 at the end of the day.

Investors slaughtered Google today because they missed their Net Income by 3 cents! GOOG reported a 58% increase in revenue and the street expects it to of QUADRUPLED its revs for the year. But missing your earnings is forbidden on wall-street no matter who you are. The stock opened at $548 wednesday and opened at $511 on thursday. Now a $47 drop seems ASTRONOMICAL, but if you divide GOOG by 10 and think of it like a $54.80, then it really only dropped $3.70. Really not much at all.

The reason for the earnings miss? Eric Schmit says it was becasue they hired faster than they had expected. Since no one knows what google is up too we can only speculate on the amazing things they are going to be launching and why they will need all of this fresh talent. If rapid growth and hiring too many of the most talented people in the world is a crime, then the market is fuxEd. At least they are keeping these people out of the hands of MSFT and YHOO.

I saw GOOG getting mAuled thursday night and picked up 10 shares in the after hours at $510. I dont normally like tying up over 5k but it is so cheap and I have wanted to own some GOOG for so long that now was the time. If you look at the chart, the trend is CLEARLY up and this seems like a good price to get in on the cheap. I might just dump it at $520 or so because there is a lot more money to be made elsewhere.

Maybe I forced this one because I knew it wouldnt make and dramatic moves. But I did make the right call. I noticed the stock bounced off 12.60 a couple times so went short at 12.66. Once it broke below 12.60 it became the new resistance line verifying that it was previous support.

One lesson I have learned from these trades is that a lot of traders buy back their positions at the end of the trading session. I need to start buying back sooner before all the shorts start buying back. I bought back in the last minute at 12.55. It as at 12.45 only minutes before. Made .11 a share on the trade. Not enough, but still profit.

I was stressing last night because I was short so much JSDA (relative to my overall portfolio). I tried selling yesterday at the close but was denied.
LUCKILY the market tanked today and brought JSDA down with it. Instead of booking 2% yesterday i made 4.5% on accident.

Here is the rundown.

Yesterday afternoon JSDA spiked on a downgrade. Since I believe investors misread the press release, i went short at the top $16.30. It was planned to be a daytrade but I accidentally missed my selling opportunity.

Luckily no news overnight and a tanking market brought JSDA down with it. The support kept picking up at $15.60 so i figured it it breaks that, there will be a massive sell-off and I will buy the shares back. The stock didn't break until 2 minutes before market close today. Since there were so many traders buying back their short position the sell-off never happened. I sold at $15.60 (the very bottom) and pocketed 4.5% in 2 days.

I never meant to hold this large of a position over night. It is just to damn risky. I got lucky but dont plan on doing it again. You never know what can happen over night.

This strategy of daytrading volatile stocks has been working really well and is a lot of fun. I know I am not supposed to be having fun (no emotional involvement) but thats just to fn bad. Hopefully I can find more opportunities like these.

« Previous1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Next »

Get notified next time I post. Three ways to subscribe:
RSS Email Twitter

© 2009 BrainBackup.net | All Rights Reserved.