I have been buying a bunch of stinky pinkies as they come up.   Have not been doing a lot as the business is demanding so much attention.  We are very busy.  Its a good thing.  I’m not complaining.

Have been buying stocks (1-4 per mo.) that have tanked to hell.  Winning only 75% of the time.  But 75 is better than 0.

When it slows down I will give it more of a shot.  Still ahead of the game, but not by a ton.

Happy Trades!

W$

The markets have been heading south. 

 Sells

• Stopped out of FO at 47.14 for a loss of 1.00
• Stopped out of BBBY at 40.20 for a loss of 1.00
• Stopped out of CCL at 33.70 for a loss of 1.12

Buys

• Bought HD at 30.30 off of lower trendline support, stop set at 29.30, target 32.50 (7.3%)
• Bought KIRK at 17.90 off lower trendline support, stop set at 16.60, target 20.70 (15.6%)
• Bough BIG at 31.50 off lower trendline support, stop set at 30.50, target 34.00 (7.9%)
• Bought JWN at 36.10 off lower trendline support, stop set at 35.10, target 40.00 (10.8%)

Good luck and green trades!

-Orion

So, I’m still holding C which showed good strength today, and almost got stopped at of FO today.  However, I did pick up two stocks in the sell off this afternoon.

Here’s the first one I bought, BBBY.  it was on my watch list.  Nice down channel heading into the EMA200.  All the charts look good for a bounce, but time will tell.  I bought inat 41.20.  Target sell is around 44.00 for 6.2%.  I have a dollar stop set on it.

And for the second one…..

CCL wa another on my watch list.  It is bouncing off the EMA200 in a slight ascending triangle.  The only problem with this one is the stochastic line.  It hasn’t quite gotten to overbought yet, so it may go lower or chop around a bit before heading back north.  Time will tell.  I bought in at 34.82.  I have a dollar stop for protection.  Target sell is 37.40 for 8.2%.

Still watching SCVL, DBRN, KIRK, GNW, MT, and SWC.  Watch the market, it will be iteresting to see what happens tomorrow.

Until next time, good luck and green trades!

-Orion

Here’s the chart:

The price is currently in a downward sloping channel.  It has tested the bottom trendline 3 times, and the upper trendline 5 times.  The interesting part of this trade is the EMA200 is going to provide support around the next bottom trendline test.  The Stochastic line is going down and should be around oversold about the time the price hits the EMA200 and the lower trendline.  This should provide a good bounce at least back to the upper trendline.  It may or may not breakout.  The safe play is to pick the stock up around 17.90 depending upon exactly when it hits support.  The target sell is around 20.70, or whenever the price gets back to the upper trendline, EMA20, or EMA50.  All three of these resistance levels will be around the same level.  The key to this trade will be the stochastic line.  The more oversold when it hits the lower trendline, the better the setup.  So we would have three buy signals, support at the EMA200, trendline reversal, and oversold status.

The rest of the stocks on the list hae similiar setups, so look for trends, support and resistance.  They are not buy on Monday and sell on Friday stocks.

Good luck and green trades!

-Orion

Man has work been crazy. I work in preconstruction, what most companies would call sales. When the cosntruction market started going south, my department got extremely busy trying to keep the volume up. The good news is that life is returning to normal. Yeah me!

I’m getting back into trading, but I am goig to leave the pinkies to W$. Unless you count C as a penny.

That is the only thing I’m in right now. Swing trade from below $4.00 to somewhere around 4.50 to 5.00. It just completed the reverse head and shoulders. I’m looking for the break above the neck at 4.00 and then we will see what happens after that.

On another note, I have fired my brokerage and am in the process of moving to a Schwab SDIRA. The brokerage account just was too slow to trade in a market like this. And the fees are killer. I have time, renewed forcus, and a plan… we’ll see how it goes.

Until next time, good luck and green trades!
-Orion

p.s. Feels good to be back in the saddle again.

I like some of the bankruptcy’s that are out there.  Some of the companies that were in trouble b4 the drop that went chapter11 I am watching and buying.  I just bought $1000 of abwtq.pk    I bought it at yesterday .42 and from what I can tell it might be one of those stox to buy and hold.  From what I can tell, they are going to honor the shareholders equity.  Financials suck less than they did…..we’ll see how it plays out.

http://finance.yahoo.com/q?s=ABWTQ.PK Abitibibowater Inc

I’m buying an obvious pump n dumper.  It is clrh.ob…. Clear-Lite Holdings, Inc.    It is some light bulb company that people have pumped the shit out of and then dumped hard.  http://finance.yahoo.com/q?s=CLRH.OB Why am I buying it?  This schlub has been sold soooo hard there has to be room for it to retrace slowly.  Watching for the bottom of the sell-off…..Thinking of buying in the .30’s…  Don’t care about the company, just the movement.  Update:  Still waiting to buy…its in the mid .20’s range….falllllllllllllling, falling!!!  Maaybe Monday…..who knows…

Update:  Still in abwtq.pk and bought clrh.ob at .26 and at .29.  In a perfect world, it should hit .81…I’ll just wait to see…so far so good its sitting @.38.

Update:  Jumped out of abwtq at .425 saw it descending.  Waiting for the correction to finish, then will jump back in @$2,000.  Still in clrh even though its been a down day again 4 it.

Update: Still did not get back into abwtq.  Bought twice on ckrh….grrrr, losing money, waiting too see a reversal…can’t know if it will even happen.  I guess we’ll see.  Being stubborn on this one, should have sold already but did not.

Critical Update:  Damn, I’m glad I waited again on abwtq…..holy shit what a tanking!  They voted to kill the shareholders equity!!!!  Buttheads!  Currently holding  ckrh, losing big-time so far….pfffffft.

Trade like you need food……

W$

Business is slowing down a little bit at the office.  So, I started to watch and re-learn how to trade again.  I started off by purchasing VIPR on the kneejerk sell-off today.  In the IRA acct. I purchased $600 worth at .0015 and I think it closed at .0016 today.  Woo-oh….$40 in the green so far,,,LOL!  Hardly worth mentioning….  I’m looking for it to open higher in the morning.

W$

NVLT is the ticker.  Bought at .302

I miss having the time to trade.  Business has been soooo good that I have not been able to afford the time to give to this trading……..

Happy Trades my friends!

W$

My CBAI position sold today.  I was looking for a penny, but who cares….close enough.  Ended up with $450 profit. Haven’t bought anything too busy at the shop.  Happy trades!  W$

Its time for the up n out on THRR.  I had purchased an original position higher and then when I saw it had bottomed out, bought again at .0002 because I knew these folks would move the stix eventually.  When I bought the 2nd position, I bought 1.3 million to cover the original 300k position.  I sold 600k of the position to kiss cousins and break even.  I am left with 1 million at .0002.  I put in an order to sell at .0007.  We’ll see if it goes.  Here’s the current status below.  W$

Update 3/23/2010  THRR had been moving recently.  I had kept 1m shares that I had purchased at .0002.  I ended up selling them pretty well, but did not hold as long as I could have.  I ended up with a five banger after the dust settled.  Was a fun little poop of a stock.