Lightning's Pit Stop

[Splitlink]

Good point Split, the charts are really deceptive due to as you say their sporadic trading nature. now I have made my trade I will stick with it for the short term in the hope they actually move at some point soon 7.5 million of the bu&&ers

Im working on the screener now to see if I can get results that only show stocks that trade every day rather than maybe at best 4 or 5 times a month.

All the best for next week, see you at the top.

Yes, I agree, there is no advantage in chopping and changing shares that all have the same prospects. I notice that Bullboy's selection was of 20p and 40p, though. Mine was about 40p, too (the one that went up, that is) and it only went to about 44p, if that, so they do not have to be rock bottom. The trick is to get out, then, not hope for a bull run in them! I waited and lost the advantage..

Yours recklessly,

Split

 

[Lightning McQueen]

Yes, I agree, there is no advantage in chopping and changing shares that all have the same prospects. I notice that Bullboy's selection was of 20p and 40p, though. Mine was about 40p, too (the one that went up, that is) and it only went to about 44p, if that, so they do not have to be rock bottom. The trick is to get out, then, not hope for a bull run in them! I waited and lost the advantage..

Yours recklessly,

Split

morning reckless

After much late night candle burning I have tuned up the screener a tad, nowhere near as I would like, but close enough for now.

Heres my stock list to watch for Monday's action.

Short
JVQ
MIO
MMS

Buy
VOG
CDE

look at this one as a missed buy opportunity
VDS

Staying long JVP

Im interested to see how they get on as the week progresses. Im also going to pull up bullboy, talung & Lucky Luke's trades, do some checking up on the opposition

edit all my work for nowt as I've just realised that I've bu&&ered it all up with the wrong MA, stupid software keeps defaulting back to a longer MA cant be assed to do it all again now take no notice of my crap

 

[Lightning McQueen]

I will leave the above post up for now as a personal reminder to be more vigilent in my studies in the future

I have decided to sell half my holding of JVP to release some capital to trade with (fed up with sitting on my hands)

Bought CDE 260,000 @ 9.5p 2p spread on 9.5p was a bit of a killer to my overall placing

Still holding JVP 3,500,000 @ 0.63p (waiting for the miracle move :cheesy: )

 

[Splitlink]

I will leave the above post up for now as a personal reminder to be more vigilent in my studies in the future

I have decided to sell half my holding of JVP to release some capital to trade with (fed up with sitting on my hands)

Bought CDE 260,000 @ 9.5p 2p spread on 9.5p was a bit of a killer to my overall placing

Still holding JVP 3,500,000 @ 0.63p (waiting for the miracle move :cheesy: )

Yesterday was a dull day for most of us, Don.

Split

 

[pssonice]

I ve no idea wat u r talking about, BS statement

"Yesterday was a dull day for most of us, Don. "

 

[Lightning McQueen]

"Yesterday was a dull day for most of us, Don. "

Hi pssonice, nice of you to drop by. If I may perhaps explain Splitlink's statement.

We are currently participating in the T2W share competition and as such need trading strategies for large gains to stand any chance of getting anywhere near the top of the leader board, hence the trading of penny stocks. The problem with this strategy can be that they trade infrequently if chosen badly, as I have (see pic of JVP on post 61)

Not best example but another pick of mine CDE shows a non trading day. therefore yesterday was one of those days for us im afraid

was that ok Split :cheesy:

cheers

 

[Splitlink]

Hi pssonice, nice of you to drop by. If I may perhaps explain Splitlink's statement.

We are currently participating in the T2W share competition and as such need trading strategies for large gains to stand any chance of getting anywhere near the top of the leader board, hence the trading of penny stocks. The problem with this strategy can be that they trade infrequently if chosen badly, as I have (see pic of JVP on post 61)

Not best example but another pick of mine CDE shows a non trading day. therefore yesterday was one of those days for us im afraid

was that ok Split :cheesy:

cheers

Perfect, Don :cheesy:

Small print.. Do we know him?

We have, still, got three weeks for these to double!

 

[Lightning McQueen]

Small print.. Do we know him?

Umm, no actually I dont believe I've had the pleasure of conversing with Mr ice before.

But I think we will as he's also popped up in the comp and ahead of us

After much sitting on hands I am now fed up with these stocks not trading for days on end, so a slight shift in strategy. I am now limiting the screener to the ftse 350, this will give more action for sure. may carry on with penny stocks in a limited way.

1st up, COBHAM short 10507 @ 210.50 - bit of a retracement starting

Still holding CDE, too expensive on the spread to dump

sold JVP for a loss of £356.73, spread was only 0.01p

 

[Lightning McQueen]

New for this week I've added 2 more MA's, so I now have 5, 55 & 89 SMA on the chart

On the watch list for this week

buys

PRTY - Partygaming
ARI - Arriva

shorts

PMO - Premier Oil
FKI - FKI
GFS - Group 4 Sec
HLCL - Helical Bar
RDW - Redrow

No penny stocks on watch, although its early yet and I may find some candidates

Still holding CDE & COB

Chart wise CDE looks a dead beat so will try to sell for the minimum amount of damage and good riddance.

COB still looking good to the shortside, despite GE's announcement of its proposed purchase of smiths aerospace division, lifting the defence sector a bit.

 

[Lightning McQueen]

I have neglected to update the journal with the latest goings on. oops

CDE was dispatched and unceremoniously cast into the abyss - hoorah!

PRTY - PARTYGAMING was bought to replace that donkey. this one is performing ok, following the strategy well.

COB - COBHAM this one so far is ok, although for the comp it is far too ponderous to generate enough money to make much of an impact. so this one will be axed today to release funds for a cheaper selection.
Because this trade went very well strategy wise Im going to continue to watch this one for my educational purposes.

The above watch list is no longer in play, I have no stocks on watch other than FALKLAND GOLD & MIN - FGML for a short.

 

[Splitlink]

I have neglected to update the journal with the latest goings on. oops

CDE was dispatched and unceremoniously cast into the abyss - hoorah!

PRTY - PARTYGAMING was bought to replace that donkey. this one is performing ok, following the strategy well.

COB - COBHAM this one so far is ok, although for the comp it is far too ponderous to generate enough money to make much of an impact. so this one will be axed today to release funds for a cheaper selection.
Because this trade went very well strategy wise Im going to continue to watch this one for my educational purposes.

The above watch list is no longer in play, I have no stocks on watch other than FALKLAND GOLD & MIN - FGML for a short.

With the best part of the time gone, now, I have decided that desperate times call for desperate measures.

How do you like NEB? I knew you wouldn't but I bought it anyway!

Split

 

[Lightning McQueen]

With the best part of the time gone, now, I have decided that desperate times call for desperate measures.

How do you like NEB? I knew you wouldn't but I bought it anyway!

Split

NEB is ok, looking strong but I would have liked to have waited to see how it traded today and entered the trade nearer to the 5 MA (blue) good luck with that one, but as you say desperate times need desperate measures thats why I've got rid of COB even though it was performing a little it was not enough, big bucks are required and fast.

only just realised you posted as I was busy scanning, cant find another stock yet

got to get one on before kip, no time to lose, onward and upward

don

 

[Lightning McQueen]

COB axed for a measly 50 quid profit dont laugh....my first profit in the comp that.

Couldn't find another stock, so stuffed the lot on to partygaming.

 

[Lightning McQueen]

PRTY has come up trumps and for a short period of time propelled me slightly up the leader board.

A bit of up-ness rather than down-ness was rather pleasing, but alas short lived.

with 5 trading days to go for the end of the comp I decided to sell PRTY and again re-enter the arena with a speculative play penny stock, dragging me back down the board - desperate times, desperate measures and all that :cheesy:

In the real world PRTY would still very much be an in play stock to the long side.

 

[Splitlink]

PRTY has come up trumps and for a short period of time propelled me slightly up the leader board.

A bit of up-ness rather than down-ness was rather pleasing, but alas short lived.

with 5 trading days to go for the end of the comp I decided to sell PRTY and again re-enter the arena with a speculative play penny stock, dragging me back down the board - desperate times, desperate measures and all that :cheesy:

In the real world PRTY would still very much be an in play stock to the long side.

Dead jammy, Don Congratulations.

Split

 

[Lightning McQueen]

Dead jammy, Don Congratulations.

Split

Thanks Split
my next short of NSX is also on the way down showing a good profit :cheesy: now thats jammieness by the spade load.........well until the open today anyway........

I have neglected to post charts of this stock but will if I have time today.

in fact I will save this moment for posterity as its probably as good as its ever going to get.

 

[Lightning McQueen]

Right now im kicking myself bigtime

The partygaming train rumbles on and is now 10p higher if I'd stayed on this one a top ten place was for sure

NXS has gone nowhere apart from the initial move, consolation it is trading regularly everyday but its now signalled a buy so I should cover really, but because the weekly charts still in short mode and only 2 days of the comp left I'll hold and prey

Learning lots, this comp is a great resource for trialling strategies without making expensive errors in the real market.......cant wait for the next one.

No charts as i will do an end of comp look through for sorting out what needs fixing and what doesn't.

 

[Lightning McQueen]

With no new share comp in immediate sight I have lost forward momentum, rudderless, a ship sailing the seven sees without a captain.

If there's no comp starting soon im off to Investors Chronicle, their next one starts middle of next week I believe, better prizes too.

I found this quote from a post here recently - cant remember where now "pullback entry to trend" and I thought yes thats what im trying to do, so have been reading up on it in street smarts.
The only thing thats the same really is the principle of trade entry as price bounces off a moving average. The concentration on one timeframe is a little odd, but there you go, not going to give everything away are they :cheesy:

 

[Lightning McQueen]

The new comp here on t2w got underway, only a short one, ends on the 9th.

I can only speculate that the new site rolls out after this date, with swanky new comp formats I hope, a proper index comp would be cool as well as shares :cheesy:

On the comp front im sticking all my eggs into one stock, Ryanair Holdings RYN. Im trading this stock exclusively, cheap price allowing large holding, highly liquid for a penny stock, close spread allowing day trades.

I havnt had much luck and have been on the wrong side twice........yeah caught out by the slide on the 27th , wasn't watching the indices I've learned a good lesson there and am back watching my old fave the DOW for clues as to what the FTSE may do, I also check out whats happened in Asia before London trading starts. Im also keeping a FTSE 100 chart up while watching my stock. and DOW when across the pond wakes up.

No point putting up a chart of trades etc a stock split has skewed everything, bit of a mess, averages scrambling to drop down to the new price yahoo charts will be ok next week on a 5 day chart which will be better for me to follow.

 

[Splitlink]

Have a good week, Don. Thanks for the information. You research my selections more than I do.

For the rest of the readers, I shorted ESH this morning, a stock that has been out of business about two years. I should be ashamed. However, with only a few days left to win the comp, I was in a hurry. In a hurry to get out, too, when Don dropped me the news! Now I've gone to AZM, I think,. Let me just check......

Split