Top Short Watches

Congratulations to anyone that saw my Twitter post that GAEC was going to tank. I put that alert up a couple days ago before the annihilation when the stock was at $2.20s. The stock crashed today to $1.10 and closed at $1.60.


These are some of my top short watches.














FRZ sells ice cubes. See a pattern here?














Newspaper company.














Another newspaper














Yet another






























full disclosure: no positions

Festival of Stocks at Modern Graham

Check out Modern Graham and the festival of stocks for some investing articles. My post I did on IFON and LDIS is there. I just took off my IFON for a gain of 20%. Post coming up on that and on my 2009 net-net performance.

Net-Net IFON Trade

I'm glad I learned technical analysis because it really helped me out with IFON. Actually, the way it is going right now it may have been the difference between a nice gain and tiny profit or loss. I used that red trend line(in my platform though) to see that the bull run was still alive after it had fallen back to $1 and slowly started creeping up around the same trend line. After I longed it at $1.58 all I did was watch it continue up the line. As it approached the $1.99 resistance from the other week(first red line) without breaking it strong intraday I saw the potential for a double top and pull-back. Not worth the risk of loosing the profits because of that possibility so far into this run it has had. I actually sold it yesterday at 1.92 before that last red day on the chart which is today's action. This exit looks about perfect right now because yesterday IFON only hit a high of 1.96. And right now it is looking like that was the end.

It very well could get a push over $2 but there is just something about those round numbers. Notice it never traded at $2. And I noticed that the buying has been coming every day and that had to end eventually. Drew that with a black circle. I was also thinking about the valuation. No longer in net-net territory here and not the kind of net-net I know well enough to run past that valuation. A buy right around $1 off that pull-back would have been sweet in retrospect because the technicals were there for it to be had but I'm happy with this trade. I had a loss today chasing a momo penny stock so this is offsetting the loss.



full disclosure: no position

Net-Net FSI International FSII On Move

I was looking through some scans and this chart stuck out. I drew the resistance line for the range it has been in.














This breakout looked interesting so I checked out some fundamentals. The stock happened to be a net-net. I think it actually rings a bell as a perennial net even though I don't scan for net current asset stocks as often as I used to. Unfortunately, it is a semi and I hate the history of its fundamentals. The fact that someone is buying this here on more than its average volume and taking it up is interesting. I'm thinking that someone may be coming in late? I've noticed some micro-caps like PXG would get accumulated after the bigger companies in the sector all got rotated into. I guess that would make sense because naturally the street is going to go after the Microsoft's first because of the liquidity then when that is exhausted and they still have money to put to work the only place left is smaller market caps.

Hard to find much good going on here. This is possibly better. "The Company intends to manage its operations with a goal to end fiscal 2009 with greater than $10 million in cash, restricted cash, cash equivalents and marketable securities." There is no long-term debt but there has been declining revenue growth and income for years.

Not very excited with the little info I have on the company fundamentally. Just watching this one right now. This isn't a good stock to invest in surely. To trade. Possbily. The technicals point to more potential upside with this rounding bottom and breakout if it holds another day or so. I've been up as much as 6% or so so far in net-net IFON. So far the stock is holding up well.

full disclosure: no position in FSII, long IFON

Net-Net in Play, Stock Daytrading Watches

I noticed these two net-net's awhile back because of the nice uptrend they were in and just longed one of them. I longed IFON at $1.58 because it is doing what I wanted to see. I wanted to see a bull flag with a good signal like I mentioned in that other post.


Well, I've missed a lot of this move off the flag but I feel good here because there were some big blocks of shares coming in today. Not to mention this is a tech name and a net-net play to boot. Thing is this is a high beta stock so it's probably just going to ride with the market good or bad like it has so far. I've got my exit scoped out and it will be if it breaks below this trend line it is in right now probably. I might also think about stopping out if it cracks below 1.20 because this is more of a key area right now.

LDIS is holding up well and just got a flurry of big volume days recently. I longed that one in this portfolio tracker I'm going to be tracking my net-net performance with. I had to enter a symbol to start up the account. I would have preferred to buy LDIS right here at .73ish on whatever fill I could get. From here on out I will always make a post before I place a buy in that tracking portfolio. I think this should be viewable by anyone even without an account there. Let me know if you can't view that page. I put up a great watchlist for daytrading and even some swing trading on my twitter page. It has been really good past couple days. http://twitter.com/StockPursuit


















full disclosure: long IFON