The fireworks didn't stop for me today. In fact, today has been my best trading day ever, and is a nice follow-up to getting a bad start to the month.
Once again, it was my old pal USVE. I failed to take profits on it last week when I should have. However, the weekly chart still looked great, with a doji star showing a strong sign of reversal.
The outstanding shares were officially maxed out, indicating there would be no more dilution. Also, there were still tons of message board hype. Thus, this thing still had a strong chance of running. I noticed UVSE was up around 1.9 cents pre-market, and I wanted to try to get in below 2 cents if I could, so I put in an 200,000 buy order before the market at a 2 cent limit.
The market opened, but those damn OTCBB stocks are so slow to fill....the ask price hit .021 and missed my order. I quickly changed my order to a .021 ask. Luckily the price dipped a bit, and I got most of my order filled...191,770 shares at 2 cents exactly.
The price then skyrocketed. It easily broke the 2.5 cent resistance point that it failed 3 times to break before. I added another 20,000 shares to my position at 2.55 cents.
The price kept going, touching 3.5 cents. It then came back down and fluctuated around 3 cents all afternoon, and had a nice close at 3.3 cents, putting me up over $2500 on my position so far.
I'm holding this overnight for many reasons. First, it closed near its high. Second, there's rumors the company will be releasing a PR in the morning, which should attract more buyers and force the price higher. Third, the chart indicates this still has a lot of room to run. Fourth, I don't want to waste any day trades, particularly since Thinkorswim is cracking down on day-trades and has released new software that counts your day trades.
If this fails to break 3.5 cents tomorrow, I will exit completely. If it breaks 3.5 cents, I'll keep holding and probably take partial profits in the 4-5 cent range, and hold the rest to see if it can continue to run. If it doesn't continue to run, I'll sell the rest.
GUTTER ACCOUNT STATS:
June 30th: $4856.64
Yesterday: $4518.24
Today: $7091.22
Today's overall gain: $2572.98, or 56.9%
Gain since June 30th: $2234.58, or 46%
Positions held overnight: UVSE
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6 comments:
Hey
It's noobtrader.08 from Tim's site.
Thanks again for the link to your site.
I have one very simple question for you... I'm not looking for any stock picks, as there are plenty of those going around... what I'd like is some very basic questions answered... from your perspective...
I've never traded a stock in my life (a real one that is), and I don't have a finance background. I'm an HR Director for a private company, in Canada. I make good $$ too... my reason for telling you this is to be equally as transparent.
Would you be willing to help me out? And no I'm not going to fill your inbox with questions. I'm doing my homework (have read Tim's book twice, own his DVD and have watched it once all the way through but am now going through it with a fine tooth comb... I just want a different perspective.
Anyhow... blah, blah, blah...
Any help would be greatly appreciated.
PS-Nice gain btw!!!
If so... my email is progressivegemini@gmail.com
Let me know...
Thanks again.
Hey man....with the strong closing it should gap 2morrow....
I made a blunder today...should of held on to FRTL today...but sold way too early...as it clsoed at 0.11....duh!
Anyways...congrats on yoiur gain....!
Thanks Danny!
Don't worry about the missed profit. Nothing wrong with taking a profit too early. I've missed out on profits too. It's totally part of this game. You're always going to have woulda-shoulda-could'ves.
Steve, gotta thank you and 13th again for backing UVSE, I would NOT have found it on my own but it looks like we both made the right call to move ALL IN as soon as we could, huh? I'm glad you got in again today after seeing it continue its run and I'll be up tomorrow morning right there with everyone else to see how this thing plays out.
You're welcome, Ben. Hope you got out this morning with a profit. I'm about to post a blog about my exit this morning.
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