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!
Well, despite the market being down I still managed to make some decent calls as far as the market.
S: MESA @ $0.2506
S: HTDS @ $0.012
S: FAZ @ $23.40
My only loser that I sold today was FAZ. Lets see how the rest of the day plays.