Another pretty boring day for me yesterday, BUT another green day so hard to complain. Finally shorted $BIOF and made $500ish, really wanted to hold 1/2 overnight but then it spiked right at the close. I covered all to protect my profits. I’ll be watching it closely again today.
At the time of this post (7:30) futures are getting pretty shitty, looking forward to a more volatile day, Wed and Thurs were very slow.
Today’s List: Full list from Yahoo Finance
One of my primary goals for the future is to learn how to play these OTC’s better. I bought this at $4, watched it for five minutes, it dropped below $4 so I sold. About 1 minute later it shot straight to fucking FIVE DOLLARS!! So instead of making thousands I lost a couple hundred bucks. Bummer is I’m always so short biased its like torture holding a long. But at least I made the right call, just traded it like dog shit.
Should continue to be interesting today.
LOVE this chart, but looks like its going to be real hard to find borrows. IB has a few but not enough to make it worth trading. I’ll be ALFSS.
Another personal improvement project for this year is to start studying and trading higher priced stocks. By default I have avoided this ticker all week just because its a $70 stock. In hindsight its probably the best play of the week, and could have been traded with good R/R on several days. I just automatically see a stock over $20 and it gets ignored.
Fought and battled with this thing, I left bloody and bruised but with profits. Way to much work and too hard though. I still think the ethanol business is shit, this stock is probably shit, but when you get a guy like Einhorn behind it, the odds of it really cracking hard are probably pretty low. There’s probably some dude sitting in a dark basement somewhere and his only job is to buy when this thing starts fading. I’ll watch again today, but unless it does something interesting I will not keep wasting time typing this ticker into my terminal.