Posts by MookTrader

This week specific microturd stocks have been getting a lot of exuberant action to the upside. $CBIO (Catalyst Biosciences) stock is our supernova highlight of the day. The stock went up nearly +200% yesterday and today went up another +30% in pre-market trading (a total of around +300% in two days). The news that caused the stock to spike was that one of their hemophilia drugs got the OK to proceed with clinical trials in South...

We are always on the lookout for overly beaten down stocks with daily charts resembling rocks falling off a cliff. Sometimes they make prime picks for bottom picking, assuming the only reason they are going down is because a huge fund is just liquidating its stake. An example of this is the stock $RRD (RR Donnelley & Sons). It has been trending down since its February 28th decent earnings release and in-line forward guidance forecast,...

We shorted this Bioanalytical Systems ($BASI stock) today. This was the 2nd day run up on no news. Stock ended up trading ~3x its float today which signals massive stock manipulation, which doesn't bode too well for it holding its +100% run gain this week. Reasons why we initiated the short position in BASI like all the other microturd pumps are because the company is running on fumes in terms of its cash position as well as the...

In 1996, I started my trading career on 110 Wall Street, NYC as a proprietary equity trader. I was exposed to trading investment grade stocks listed on the NYSE or NASDAQ exchanges with prices greater than $5 and having market capitalizations of over $100 million. My mentors at the firm traded only these and thus so did I. For the next 18 years, small and mid cap stocks were my bread and butter. Mega cap stocks like Exxon and IBM were...

When a listed stock has a parabolic rise for any reason, we take note of the much desired price movement and watch for signs of eventual topping out, making it a prime example for a short scalp. This is what happened in KEMET Corporation ($KEM stock) last Thursday and Friday. KEMET announced Thursday that it will acquire NEC TOKIN from NEC. Since NEC TOKIN will be debt-free, Wall Street gave this acquisition a big two thumbs up as the...