As an active swing trader, I make my money pouncing on short term buy and sell
opportunities in the market. Readers are often shocked to see me profit from
buying a stock one week and then shifting gears and profiting again selling it
short the next. Wall Street is not a place to fall in love with stocks anymore
and my proven strategy is helping thousands of readers realize that and more
importantly, profit from it. Here are 3 of the many traders Im looking at today.
Shares of Raystream Inc. ( OTCBB:RAYS ) continue to be manipulated by a $3
million dollar plus promotional campaign. Wednesday at 2:36 p.m. EDT the stock
suddenly fell -16% for no apparent reason from $2.50 to $2.10 before stabilizing
into the close. RAYS is being promoted by the same team that touted Lithium
Exploration Group ( OTCBB:LEXG ) which fell 66% in one day back in the April
after squeezing shorts over a 2 month stretch that took shares from $.12 cents
to $10.65 before crashing and burning, never to return down 94% just 6 months
later. Im watching the $2.00 range to see if this was merely a shake or the end
of this big budget promo. My current target is $2.13 to $1.72. If the stock
continues to be touted up the chart Ill consider trading the upside momentum
with a watchful eye and look for a new short entry. LeapFrog Enterprises (
NYSE:LF ) beat Wall Street estimates and upped their full year outlook which has
taken the stock right into overbought territory. Long term I wouldnt be
surprised to see shares trading above $4.80 on news like this but right now that
is resistance from about 6 month stretch on the 1 year chart from back when it
gaped down in January. As with any overbought stock, Ill look to short a spike
just before resistance at $4.80 as that is where I expect the sellers to show up
again and create problems for the bulls in the short term. Wednesdays high was
$4.85 before shares closed at $4.49 illustrating my point. Sino-Global Shipping
America ( NASDAQ:SINO ) recently ran from $1.40 to $9.16 across 3 trading days
back in July before giving back 83% pretty much returning to where it started.
Wednesday shares jumped from $1.52 more than doubling to a high of $3.47 before
closing at $3.11. With a tiny market cap of $9 million this can be a very
dangerous short so Ill wait a few more days to see if it squeezes aggressive
short sellers like it did last time before I consider trying to ride the next
83% collapse.
No comments:
Post a Comment