TimAlerts Day Four

JAZZ – wants a bigger spike before shorting
DYAX – someone pumping it
NVGN and MSHL – short if they fade.
NVNC – short

Entered an order on Ameritrade to short 500 shares of NVGN with a market order, the order went through but got a message that said
Order Canceled: We're sorry, but this stock is not available to sell short.

I can already see these news plays are very iffy, RINO has the news out that they are going to be added to Nasdaq that should be big news, the stock drops from 10 to 8, looks like nobody cares about the news on this stock.

VRAL runs a TV show about how they are curing aids and their stock drops from .13 to .084 in less than an hour after the show starts.  That is a huge drop on what should be great news that should get people buying the stock. But instead everyone was selling it.

I guess the main point is to trade the chart and forget the news.

Today RINO opened around 9.40 and then went down to 9.00 where I bought 1000 more shares and Timothy Sykes sold out of his position like he said he was going to do.

Over the next hour the stock slowly faded lower and lower and I ended up getting out at 8.65 so my loser was more than twice what it should have been.

July 8, 2009