Watchlist 5/13/2010 – Boooring week continues

This has been a week I’ve actually been happy I’ve been far to busy at work to spend time to trade aggressively. There have been plays but only high risk low reward intraday setups. And in my experience as a part timer, when I try and chase those the profits are small at best and big losses at worst. I currently have open positions in AEZS and DIVX but do not like either of them at all, and I’m rapidly starting to feel trapped.

Full list from Yahoo Finance

AEZS

Announced an early FDA approval and spiked pre market, since like a fool I wasn’t watching it pre market to cut and run, I decided to hold through the spike. I’m a bag holder at this point just hoping for a fade. Lame and stupid place to be, but thats where I am… If it goes up at all I will cut and run. Ideally earnings are announced today and are horrendous and maybe I can clear a piddly profit. I still think long term this becomes a “crow” and slowly picks down to $0.80 cents, but I will never have the patience to wait I’m afraid. SHORT

ANTS

This finally cracked through the even $2 mark and I expected it to crater. It did not, it actually closed back above $2, annoying, choppy and boring. But for some reason I’m determined to continue to watch it. Please market go up 10% in day so I can find some REAL short setups instead of crap like this. SHORT

DIVX

I can’t believe I actually bought this stock… Only thing further from my core strategy would be trading GS or AAPL or FAS/FAZ… More or less an attempt to scalp a Tim Sykes alert. But if I was scalping I should have been in and out before the close yesterday, but I decided to hold. If this trade ends in the green I will be VERY shocked. LONG

Update: Jeez, I just saved and started to upload the chart, I’m embarrassed to even post it, yuck…

NLST

This stock is a perennial good short. Not sure if its a sound strategy but at least sounds nice to short a stock that is up 20% when, we lost, LESS money then we thought we were going to, we still didnt make any, just lost less. Revenues are up big though, so thats encouraging on the long side. I’m pretty sure I lost a little money shorting this last year, so I’m afraid this might be a spite play. SHORT

Book Review: The War of Art – Steven Pressfield

One of the best inspirational books about writing and creativity I have read in a long time. It may be even better then Stephen King’s On Writing.

The core tenant is the idea of “the resistance” which is the force all of us have in our brain that keeps us from creating content. Everyone faces it and only few overcome it. Its very interesting because I always knew the so called “resistance” was there just never had it spelled out and explained as well as the author does in this book.

If you are an aspiring writer such as myself or anyone trying to create on a regular basis it is a highly recommended selection. I read and enjoy MANY books but seldom do I finish one and think to myself, “I need to read that again soon.” This book was one of the rarefied few.

links for 2010-05-11

Watchlist – 5/11/2010 – Again nothing worth trading on this list.

Yikes, both of my shorts from yesterday continued to plod higher. Of course I did mention in the watchlist that I didn’t like either of them very much, and pointed out that ANTS would continue to go up if it broke $1.80. But those are just lame excuses, yesterday had nothing very interesting and neither does today. I have plenty to keep my busy outside of trading, especially on days with setups like these..

Full list from Yahoo Finance

ANTS

Same news as yesterday, again, in my lame defense I actually considered buying this mid day, but the illiquidity scared me away. I will continue to watch this on the short side, but ONLY because I can find no other stocks more worth watching. SHORT

AEZS

Same comments as yesterday, but getting more and more choppy and more and more boring everyday. SHORT

ENCO

Contract win, so good fundamental news, I’m only watching this out of spite I’m afraid though. I was up close to $1K on 1000 fricking shares a couple weeks ago, but was experimenting with a longer holding period and let this bastard come all the way back to even on me!! I would love to get some shares of this, but again, I have often shorted out of revenge and I don’t think it has EVER worked… SHORT

MCGI

I thought about buying this on the break of $1.80, but its such a wretch and I hate buying so much I steered clear.. Great call idiot! Since I missed the long, I will wait for the short, somewhat “pumpish” company and I’ve heard they have paid lots of promoters and mailers. Companies that do that VERY seldom hold their gains. SHORT

Previous Day Review:

Nothing to review, no trades, and really just a couple missed long setups, so I won’t beat myself up to much.

links for 2010-05-10