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$

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.

I have not had the time to watch and buy the pinkies lately.  I have resorted to leaving the Strategy Desk open to watch a little when I can but have not been able to do much more than that.  I have set my view to the daily setup on a long term basis.  If I were to trade them on longer pinkie charts, the only one that I would do that way is CBAI.  I bought when it was down low again to let it make me some money.  I did put in 500 on that play.  For the last few days it has reacted favorably but not a large gain there.  I did buy the EBIX stock off the Nasdaq ex, but it has not split as they said it would.  I will just wait with that stock as it is a long term pick for me.  I know I said I would not trade tech stocks but this one I cannot pass up.  I’m thinking that if this does split as projected, it may open at the $13-15 range after the split.

What excites me about this stock?  They are under the radar.  They are too small to be taken seriously by the big guys of the market.  They have no competition to speak of.  They have a great money-saving software that works well.  They are not closing themselves off from the healthcare changes.  It seems that they are licking their chops over the prospects of a more organized “big brother” healthcare information system.  I like companies that have attitude too.  It seems that they have a bit of that.  The financials are apparantly honest and are not always exactly what the investors want to see.  In fact, they are finally making projections and the market reacted adversely to a responsibly delivered forecast target.  The CEO uses his people very well to make the company prosper.  He relies on his most trusted as he should.  If he died, the board would have a little trouble replacing him but they could do it.  Enough talk about why I like them.  I expect this stock to bring very good rewards for me as investors find EBIX more and more palatable.  They have split before in 2008 and this secondary split is a good sign to show their sensitivity to what group of investors make their stock profitable.  There is a cautionary flag I would put up is the shorting currently of tis stock.  I expect it from the TA side as it is on the downside of a head and shoulders pattern now.  My initial “good buy” target price was 46.77, but I may have to revise that in the next few days to determine where I want to go in again.  I have one position now at 52.00 that was purchased for the split.

Enough for now.

W$

UPDATE 03/23/2010  Still in this stock.  I think I’m even right now.  I am surprised that it has not gone higher sooner.  Only time will tell I guess.

I waited on this sucker for a better price, but ended up buying at the last minute to grab the 3 for 1 split.  Entered the trade at $52 per share.

ok, that was fun.

L8tr.

W$

I’ve sold a few of the up and out penny stocks.  I have been setting automatic sells and they keep disappearing.  I think I only own 2 more that I want to get rid of.  I’m holding a couple of stinky pinkies..one is emge that went gray, etc…

I finished taking my beating on a few of the stinkiest of the pinkies.  I kept one of them because I rode it all the way down.  I know you might think that strange, but I always have to spank myself a little bit to keep myself in line and on track.  It never fails, if I do not trade according to my plan, I usually lose.

I’m watching for an entry point again on EBIX for my IRA.  Took some money from it once.  Waiting til I see it go into my range to buy again then to hold for the split.

Work has been busier than normal, so I have not had the time to watch the pinkies as much.  Hopefully I will get in on a few this week.

W$

I saw the uptrend on stupid news and got the heck out.  I had one sell order preset to go for 13k shares at.043 and noticed it had sold.  Watched it for 20 min. and got the rest sold at .06.  I’m happy to get out of that one.  I think that I lost about $400.  I think that is just great!  I was down way too much and this just made me happy to escape.  I was resigned to the fact at one point that I was going to lose $2,000.  It worked out just fine.  Lucky W$!

My best kept secrets of trading I have not even blogged yet.  I’ll post a blog about, “The best offense is a strong defense.” - coming soon……This stock made me think of that to do……

Later

W$