Gotta start the fun off by featuring the chart of the manipulation scheme du jour, CVSC (no need to detail the company; whoever’s promoting it doesn’t care, so neither should you!)
Notice how each day now the daily gain is getting larger right alongside the trading volume—methinks a blow out is coming sooner rather than later, in a similar fashion to the blatant manipulation schemes of Christmas’ Past
But, then again, it doesn’t have that far to fall…yet, so hopefully this promoter is as cunning as Roger Clemens–meaning he has the will to cheat for the long run–and concoct a chart like this:
Back in real stock land (boooooooooo!), I def. wanted to short LULU’s $4+ gain at the market open—‘twas only up so much cuz some ANALyst said blah blah blah, squeezing the shorts—hardly any chance at holding a 20% move without dropping a little considering the collapse over the past few days leads many longs to sell into any bounce. Unfortunately, no shares available to short, strange for such a large company, $2 drop before 10am made me cringe, but it coulda woulda shoulda just been a quick scalp as the stock finished stroooooooong.
Another stock in a nasty multi-day downtrend, COIN, caught shorts off guard at the open, spiking $1+. Not surprisingly, no shares available to short. $1 drop before 10am—same pattern due to dip buyers taking profits, bitter investors in at higher price cutting their losses—all very much predictable, but also not a big move, as the stock came back. Actually looked like a potential buy late in the day as it broke the morning highs, but it failed to breakout more than 5 cents, aka a double top, as there was a wall of sellers at every turn (why I prefer buying only into pure breakouts to new highs)
And in retrospect, I coulda woulda shoulda bought any of these falling knives I posted HERE last night, but even in today’s ideal up market I’d mostly be up 20-40 cents/share on each of them—which due to my pathetic timing skills wouldn’t leave me much room for high probability profits. Good avoidance. I won’t even post their charts cuz I don’t wanna set a bad example for you kids out there.
TIM Lesson: There are both small predictable moves and large ones, focus on large moves—less headache, better risk-reward, bigger gains, more spare time, aka don’t become a scalper like Uncle Timmay! (considering that while I’ve gotten better at focusing on the big gains, I still take infantile gains—gotta get better if TIM has any shot at the big-time)
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