Did a swing trade today since I pulled an all nighter didn’t go too bad, there’s still opportunity to jump in for those that don’t mind high volatility. Matech Corp (MTCH) I was in at $0.1065 out at $0.1165. For a while it was floating between $0.108 and $0.114, but that will change a lot throughout the day.
It appears to be up on news: MATECH Performs EFS Testing on Bridges for Federal Highway Administration
C – Citigroup Inc. has serveral resistance points in the short term (60 day approx); 4.10ish as a bottom, in my opinion 4.10-4.15 as an entry point if your patient, 4.20+ if your not. A ceiling of $4.80 (modestly). Short interest appears to be up 52% from the last 15 days, that can be seen here.
Beacon Power Corp. is an interesting little stock, its main resistance point is around $0.67 for those of us that do consistent trades (and in some cases let automated trading take over). It has a pretty solid float between $0.67 and $0.70, however does spike above there at times.
Mesa Air Group, Inc. has 2 major resistance points. $0.205 and $0.24ish. While today’s after hours news came as quite a disappointment to some of us, this will just change up the resistance points a bit. The initial resistance point was for the late summer, subsequently after a small increase in its value, it went up a little bit.
Well in the past my luck with BCON has not been too bad, I usually buy in around $0.66 – $0.67 and sell around $0.70+, I bought in again yesterday at $0.6702, lets see if this goes well. As of now the 50 day moving average is showing at just under $0.70 on stockcharts.com
Well after being overseas and not 100% paying attention to the market, I made a good loss on FNM, however I did make up for it in part, but overall Im still down around 20 cents a share for a full recovery. I have been day trading it and so far it hasn’t been too bad, I’m looking to possibly rebuy if it goes below $1.06 again. Time to get back on track again.
CIT is down considerably during pre-market around 45% at the time of writing, I decided to try my luck, in @ 1.30 and out @ 1.35 its like playing with fire though. I wonder how far down it will go once the market opens, I may buy up if it dips to $1.10 again, lets see what the news says. From what I understand they are in talks for a $10 bln loan. Level 2 quotes are showing alot of resistance at $1.25 and $1.35.
Well, another successful 2 trades today, CIT in @ 1.96 and out at 2.10 on the IRA, and again in at 2.07 and out at 2.16 on the cash account. I think I’m going to call it a day today.
Well, I haven’t updated my positions in ages, but today I decided to play around a bit on the market early on, many of you probably saw CBAI if you are on google finance. Anyways I have no idea where it will go, but i was in at 0.0070 and out at 0.0077. The volume is still strong, and while I think it may push over 0.0085, I’m not willing to risk it with this stock. I may be wrong and it would plummet tomorrow, lets see. I’ll start updating my positions as I get more free time this week!
First Solar, shares were up around 10% today, I closed my position with a modest gain, for those of you that didn’t see in the news;
First Solar, Inc. announced a memorandum of understanding (MOU) with the Chinese government to build a 2 gigawatt solar power plant in Ordos City, Inner Mongolia, China. Pursuant to the MOU, signed in the presence of Chairman Wu Bangguo of the Standing Committee of the National People’s Congress of China, the solar project in Ordos will be built over a multi-year period. Phase 1 will be a 30 megawatt demonstration project that will begin construction by June 1, 2010 and be completed as soon thereafter as practicable. Phases 2, 3 and 4 will be 100 megawatts, 870 megawatts, and 1,000 megawatts. Phases 2 and 3 will be completed in 2014 and Phase 4 will be completed by 2019. The project will operate under a feed-in-tariff which will guarantee the pricing of electricity produced by the power plant over a long-term period.
http://www.reuters.com/article/rbssEnergyNews/idUST5132220090907
I will update my positions here in the next 24 hours. My homework load has soared and eaten up most of my time, but I will be updating the site here soon.
Well with the market fluxuating a little bit, I decided to buy up a couple shares of CIT, lets see how it goes
B: CIT @ 1.51
Other than that, all my positions remain the same.
CIT Group Inc. (Public, NYSE:CIT) Was down 15.52% today, and up After Hours: 1.48 +0.01 (0.68%).
Im no expert in the market, however sometimes friends ask me what I have positions in; heres the list.
B: MESA @ $0.2260
B: HTDS @ $0.0107
B: FAZ @ $23.735
B: DXO @ $4.66
B: LVLT @ $1.24
Guess we will see where those go. Like I tell people, I have little experience in the market, so following my portfolio is definitely at your own risk. I’m using my IRA as a way to get a better tax return and to make slightly better use of my income in learning how to guesstimate the market.