One2's Noob Daytrading and Swingtrading Journal

Yo Yo Yo.

Ive been busy here in new york so I havent had to much time to trade. I havent added or suptracted any positions but here it is. SPNG f00ked my account pretty good when they announced a reverse split but I still believe in the co. I know im rationalizing trades but these guys are headed to the nasdaq so big money will b coming in. Anyways here are my current unrealized gains/losses.

2k CTIC - $167
1k Cors - $158
5k SKVI - $10
20k BIEL + $256
2mil SYMW - $528
5k CVM + $67
30k SPNG - $1161

Holding 1700 in unrealized losses. No Bueno...

So im sure many people are thinking im about to blow up. Lol. Ya it looks like that but I promise I was profitable before starting this journal. :p

Good luck tomorrow guys.
 
Hey 0ne2,
Nice journal so far....As long as those losses are part of your trading plan you have no worries of blowing up! Will you go into detail about the set ups you take later in the journal? Hope you continued success on your trading-G
 
One2, I agree with Geez here. I took a ton of heat on my NVAX positions last fall but my plan was to hold through 2009 when a lot of their "news" was due out. Swine flu was more news than I expected, but it brought over 5K in gains this spring.
 
Quote from One2:

Yo Yo Yo.

Ive been busy here in new york so I havent had to much time to trade. I havent added or suptracted any positions but here it is. SPNG f00ked my account pretty good when they announced a reverse split but I still believe in the co. I know im rationalizing trades but these guys are headed to the nasdaq so big money will b coming in. Anyways here are my current unrealized gains/losses.

2k CTIC - $167
1k Cors - $158
5k SKVI - $10
20k BIEL + $256
2mil SYMW - $528
5k CVM + $67
30k SPNG - $1161

Holding 1700 in unrealized losses. No Bueno...

So im sure many people are thinking im about to blow up. Lol. Ya it looks like that but I promise I was profitable before starting this journal. :p

Good luck tomorrow guys.
More...




SPNG is a pump and dump so you should play it as such. A ton of 144 stock became available for the market and RM Enterprises (SpongeTech CEO is the President of RM Enterprises) is dumping the stock on the press campaign going on. The regulators are working this and one day, at any time, it could be halted.

Bottom line: Tread Cautiously.
 
Redemption or Dead Cat Bounce?

My account is showing some signs of life today. CVM and BIEL are making me some green. Other Positions are floating closer to the surface.

Had one trade today go bad but it was a minimal loss. Tried to play faz after open as it made a higher low. Didn't work on the setup but my stop got me out with only a 76 dollar loss.

Here are my current unrealized positions.

5k CVM + $667
20k BIEL + $516
2k CTIC - $147
30k SPNG - $900
2mil SYMW + $528
1k CORS - $178
30k SPNG - $900
5k SKVI - $85

So I had an idea yesterday night to pretty puch dump all of my unrealized losses and reevaluate my plan. I am still thinking about it. I may dump cors tomorrow. it seems to be doing nothing. Im sure as soon as i dump the thing will pop but oh well.

Thanks for the reassurance guys. I hope both you are making tons of mula. I haven't been in the chat latly but I haven't really been trading lately.

I will start sharing my setups. Right now I am swing trading penny's so I am looking for companys that have strong press coming out and also promising products that everyone will buy into...Once I get back to day trading I will try to share my setups so you guys can replicate them and take the other side of the trade. :p

Patchie im going to PM you.

No blotter today. You guys can just trust me that I lost 80 dlrs on faz. lol
 
Not to much action on friday. Was a choppy day so I quit pretty early.

Traded SSO. Got in PreMarket at 33.67...and it went all the way to 33.90 but then it started retreating and i got out with a +9 dollar gain at 33.74. Big money!

After that trade I traded faz...You already know how this ends. - $103...

Got out of CVM PreMarket at .82 cents for a nice 727 dollar gain gain

Also entered 5000 GVBP at .258 and holding long.

Current Position's and there unrealized gains/losses

20k BIEL + $874...I think i should have closed this one out. we will see monday
1k CORS - $183 Dumping this monday
2k CTIC - $207
5k GVBP + $152
5k SKVI - $20
30k SPNG - $711
2mil SYMW - $528

There it is. Hope everyone enjoys there weekend. No blotter. It disappeared from my account so I cant take a screen shot. lol.
 
Quote from One2:

Ya thats why im dumping. If i even can. lol.
More...

Hey you never know, these zombie stocks can take on a life of their own sometimes :p
 
One2, as I stated in PM but for anyone else who is reading this: Beware of SPNG and go into any trading understanding that this is a P&D.

You can play the executives pump but be cautious of their plays cause it could end at any moment. I suspect that a trading halt will more than likely take place in the stock at some point.

As an example of the play these guys are engaged in, look at GFGU, a complete unknown with a questionable 10Q filing. SPNG and two unknows controlled by the executives of SPNG announced that they invested $10 Million into GFGU despite these entities not having $10 Million in cash to invest. The news shot GFGU up while huge volume was being sold in the run up. That was the pump and the executives and "consultants" who owned shares dumped. It is now back down to where it began.

A former associate (Orr) of the Sponge CEO (Metter) was busted for money laundering and stock fraud recently reflecting a period in time when both Metter and Orr were presidents of a small broker-dealer in NY called First Cambridge Securities.
 
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