Watchlist 4-17-2014 – $BAS, $MNTR, $CXDC, $FXEN, $HK, $PBR

Today’s List: Full list from Yahoo Finance

Basic Energy Services, Inc. (BAS) -NYSE

Thought about shorting this about a half dozen times yesterday, but just never got a good feel for an entry. I’ll be watching very closely today. I think once it starts to roll over it could crack hard and be a solid multi day fader.

BAS

Mentor Capital, Inc. (MNTR) -Other OTC

While the chart on setup is only “ok” I would love to get short this. Best I can tell they are some sort of Weed hedge fund. Thats the sort of ridiculous business I love to short on a fundamental basis. Ideally this spikes for some reason to setup a better short entry.

MNTR

China XD Plastics Company Ltd. (CXDC) -NasdaqGM

This is almost the opposite thesis as $MNTR, I like the chart on this ticker, but they appear to have a very “real” business. Lots of revenue etc. But I do like the chart setup. Probably a better long than short, but hey I can’t fight who I am, short biased as all getout.

CXDC

FX Energy Inc. (FXEN) -NasdaqGS

I bought and sold this real quick yesterday for a quick couple hundred bucks. Of course my exit was terrible. Anytime I buy a breakout I invariably let it run, then sell when it fades back, minimizing my profits. I think I sold $4.15ish in the morning, it almost immediately shot to $4.28. I’ll be watching for fading today and a crack back below $4.

FXEN

Halc (HK) -NYSE

Steady uptrend and a strong chart, but shitty little frackers are a delectable short. If this fails to break out today, I’ll be looking to get short.

HK

Petr (PBR) -NYSE

I’m short this overnight and basically sitting flat on it. I placed the order based on the chart and the ticker, I did not realize this was I think the Brazil national oil company… Not exactly the type of POS I like to short. Chart looks very fadish and setting up for a crack, but I have no idea the fundamentals or why, how or what this will trade like. Not real happy to be holding it, I’ll have a very short leash, but damn if it can crack $13 its mother fucking party time!

PBR

Watchlist 4-16-2014 – $SUNE, $WAVX, $BAS, $PBR, $MNKD, $ISR

Finally back into my morning/daily routine post vacation. Took a couple days to get back into the mode of getting up early and running screens. My trading this week has been ok, but its amazing the difference preparing makes. Made solid profits Monday, but then yesterday was all over the place because I had a morning meeting and hit the markets right at the open totally unprepared/out of tune.

For what its worth, even if there is nothing coming up I highly recommend getting into the habit of building some screens and running them every evening or morning. It really just helps dial you into what is moving. And for me the simple act of taking the time to prepare makes me feel like so much more of a professional. And because of that my trading on days I prepare is consistently better and more profitable.

Today’s List: Full list from Yahoo Finance

SunEdison, Inc. (SUNE) -NYSE

Blegh after trading solidly all morning, I told myself to take mid day off. What did I do instead, shorted this fucking thing and proceeded to waste all afternoon watching it squeeze me. Turned an ok day into a bad day. I’m pretty much in hope mode now, if this goes down or fades all day I’ll hold it. If it spikes I’m out. BAD TRADE!

SUNE

Wave Systems Corp. (WAVX) -NasdaqCM

Tried shorting this mid day and “nailed the top” in the $1.80’s. To bad $IBKR had no shares at the time I tried shorting. Frustrating like always but that being said recently $IBKR has consistenly had shares of every stock I try and short. So oh well. Not to mention though this one would have worked its been slightly ironic lately that when $IBKR has no shares it has kept me out of trouble on bad shorts. Probably no play on this for me now, if it cracks I’ll miss it, and if it spikes I hate buying bounces. My only setup would be if it really spikes hard and goes batshit crazy, than I will look to short again. $IBKR has a few shares this morning, but will probably run out again.

WAVX

Basic Energy Services, Inc. (BAS) -NYSE

Thought about shorting this several times yesterday but never did. For some reason it never felt right. Of course it would probably make more sense to blame the distraction of $SUNE. I like this setup and at this point its my number one short watch.

BAS

Petr (PBR) -NYSE

Did trade this yesterday for peanuts (couple hundred bucks), but was way to quick to cover. It was right after the open and I had three open trades and all of them green. One of my biggest flaws is I gobble up profits like a fat kid eating cheeseburgers. I decided to close out all three trades bam bam bam, right in a row. Then all three of them ended up fading almost all day. $PBR would have been the best one. I guess the old saying goes “You will never go broke taking profits” but still frustrating to lose out on much bigger games simply because I’m impatient. Should have let me winners run and not closed them all simply because one was starting to move back up.

PBR

MannKind Corp. (MNKD) -NasdaqGM

This chart is pretty messy, but I think at some point this cracks $6 and then its full on party time!

MNKD

IsoRay, Inc. (ISR) -NYSE MKT

I was short this from way back into last week. Finally decided to cover out of boredom yesterday. In hindsight that was rather foolish. If I was willing to hold it for a week why not wait for the big crack. Again I think it was more my lack of patience as opposed to any other reason. But now that I have covered it looks really week and could fall all they way back to $2, and then if it cracks $2 this could be a huge short.

ISR