Sorry for the hard to read chart but sometimes you just have to say what the F....... Whenever the Mouth on TV roars 99 percent of the time, it makes a candidate to short. There is that 1 percent which I have found it is not. That is when he recommends a new issue (IPO) or a stock that you can't short. Today's stock was ACM. On the chart, I included the previous days action to show how much power he can have sometimes.
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And when that sometimes is a really hard stock to short, you look to go long instead of short. I look at the AH (after hours) action for where the stock should open. Amazingly, the stock many times opens near where it closes in after AH or in this case 23.35 but instead it was trading at 22.25 to 22.50 (a bargin). I went long assuming I could get a pop all the way up to 23.35 or higher at the 8 o'clock stupid money rush. It did pop to 22.85 before it start to drop, so I only took 35 cents out of the trade. I was hoping that the stock would fall back to the 22.35 area to go long again into the open pop of the stupid money rush. I got my chance and went long some shares at 22.40. I should have bought 5 times more but I was stupid in my own way. The pop came and I was a little too fast in getting rid of my shares and took only 25 cents of the move.-
After things cooled off, I should have been back for more about 10 am at 22.50 to go long again.
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But there you have it home gamers - a way to play the big mouths " I can't short so I go long" stocks. This one was easy and I should have made a lot on it.
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The numbers - Gross +225, net +217 shares traded 1400
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Wife is still sick so I did not have my eye on the market the way I like too.
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Come on guys and gals - leave some good insults to get my juices going so I can beat that evil market.
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