TRCH trade for 7/6/2016

Posted By JM on Jul 6, 2016 | 0 comments

When stocks make huge moves on no news it gives us an exciting time to make some quick money. Today nanostock $TRCH (Torchlight Energy Resources) made an insane +200% move to the upside from $0.58 to $1.74 in just 70 minutes.

We started our short position in TRCH at $1.48 and then added to the position as it was falling. Financials told us that the company has virtually no money left to burn so it must be a pump job rip that will eventually fade, followed by a huge secondary offering in the near term.. Rode the turd back down below $1 and covered it all into weakness. We usually trade 1/10th our normal dollar position size in these microcap stocks just to be cautious if these things run against us. All live trades called out as they happen in the MookTrader chatroom.

Net Profit: $3,085


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