Tim Grittani has started doing recaps of selected trades on YouTube, which are interesting to review. Here's an annotated chart with my comments for his short trade in $AEZS, initiated on July 20, 2017.
Position size: ~$39,000
Click to enlarge
Movies Watched -- The Enforcer (1951)
87 minute running time but felt much longer … story told in flashbacks … scrawny weasel Humphrey Bogart plays a D.A. … prosecuting the mastermind of a murder-for-hire outfit … the ending had a little excitement, a little twist, but the movie was so poorly structured that I just wasn’t interested by then … no idea why it was in my queue, ah, it was a John Farr recommendation, but once again he led me astray … this was not a Top 500 movie, not even close.
Earlier incarnation of Adam Driver
Spotify Global Top 50 Selections -- April 30, 2020
There were six new tracks among the Global Top 50 this week .. data doesn’t look right, these are repeats mostly?
goosebumps — Travis Scott, 4:03, auto-tune hip hop, not thrilled, skipped
HIGHEST IN THE ROOM — Travis Scott, 2:55, hop hop, skipped
Righteous — Juice WRLD, 4:03, hip hop, not thrilled, skipped
SICKO MODE — Travis Scott, 5:12, hip hop / rap … skipped
STARGAZING — Travis Scott, 4:30, non-stop Travis, sheesh, skipped
THE SCOTTS — THE SCOTTS, 2:45, auto-tune hip hop, more Travis, skipped
Stock Du Jour, Fri. May 1, 2020, MDGS
MediGus Ltd. (MDGS) was the stock du jour, doing 201,000 trades and $222MM in volume. It was hard-to-borrow and I paid the bookie 9.35 cents per share ($935 per 10,000) for the borrow … see why you want to be a bookie broker? It gave me a good spot and I covered end of day because the bookie broker charges SEVEN TIMES the original borrow cost to carry overnight (7 x $935 = $6,545) plus 1x for both Saturday and Sunday night, so my total cost to carry over the weekend would be $8,415, and the stock would have to drop another 85 cents (which I expect it will do) just to cover those costs … crazy. Obviously I need a new bookie. It only took me two years to sign up with a bookie broker in the first place, so it’ll take another two years to switch (I’m half joking).
I also played AMTX, MYO and SPI with the bookie broker (huge amount spent on borrows today, but it turned out to be worth it) and I played AGRX, GSUM and MIST with IB, since they had “free” shares, but I paid hundreds of dollars in commissions there — they get you one way or the other, as I’m fond of saying.
Good day today though, I guess the broad market was down (I never know) which may have given a tailwind, but microcap HTB land is a universe unto itself, and I’m happy that it’s my playground. I was a good boy (no tilt), and it was a good day. Looking forward to getting some rest this weekend!
Stock Du Jour, Thu. Apr. 30, 2020, UAVS
AgEagle Aerial Systems (UAVS) was the stock du jour, doing 421,000 trades and $248MM in volume. It was hard-to-borrow, so hard to borrow that my bookie didn’t have a single share to lend! IB had quite a few shares available at first but I stupidly didn’t pre-borrow any and they quickly disappeared. I’ve been told that Cobra had borrow and I’m seriously thinking about switching bookies … the opportunity cost from missing just this one is pretty huge (six figures if done right).
UAVS had a conference call that started at 11AM, I don’t know what happened, I never read the news, but I guess the CEO resigned? It doesn’t matter, what does matter is when it hit $4 I had a picture perfect entry (slow down the tape below and study it), just minutes before it went limit down and halted. It re-opened an hour later at $1.27. Pretty sick, as the kids say.
Some other in-play stocks were TXMD (didn’t play it but should have) with 44,800 trades; CDEV (51,900 trades) which gave a good spot pre-open, but I was not around then; THMO, which I tried to play but couldn’t get a fill on because of SSR, with 47,800 trades … MTDR, which I did play despite it being ETB, and I’m happy to say it was a pretty big winner, with 91,500 trades; and VXRT, which I also played pretty well except I got a bit impatient into the close and covered up just before it dropped another 25 cents to trigger SSR (a huge move in a $3 stock), but it too was a nice win. So I’m happy with today’s trading, all green bro, I was a good boy, and if I had had a borrow in UAVS, I can confidently say I would have made a frigging fortune in it.
But tomorrow is a new day, and one that could easily lead to disaster if I’m tilted.
Stock Du Jour, Wed. Apr. 29, 2020, CAPR
Capricor Therapeutics Inc (CAPR) was the stock du jour, doing 659,000 (!) trades and $1.63BB in volume … IB had shares then ran out then got them back as it continued to squeeze then ran out again … instead of monkeying with the erratic borrow I simply paid the bookie 4.81 cents per share ($481 per 10,000) … when it finally gave me a spot, I got tricked by a tick then poked out and on my second attempt got slipped for ten cents which was sort of my fault, and it was right near the close and I was exhausted from watching it all day and just clicked out for a 25 cent loss and it went straight to target after hours … Murphy’s Law … two swings, two misses … now the real question is why didn’t I get long this? I’m going to devote May to the long side (I always say I’m going to do this but never do).
UAVS was the other in-play stock … I couldn’t get a locate at the bookie, oddly, maybe it’s a Reg SHO Threshold list stock? Anyway, I did actually get long this one in the afternoon using IB (dumb, I paid a huge amount of commissions today at IB), but then I bungled it a bit, not entirely of course, I did make money, but it wasn’t comfortable the way the short side is for me. UAVS did 179,000 trades and $232MM in volume. I also traded CMRX which was ETB, therefore I got my ass handed to me repeatedly as it tricked and trapped, as ETBs always do. Revenge traded that one a bit too, which predictably tripled the original loss. Every day is a struggle, an exhausting battle with one’s demons. I can’t wait for tomorrow, lol.
Movies Watched -- Leave Her To Heaven (1945)
110 minute running time … brilliant Technicolor, I wouldn’t call it a “film noir” … this was a weird one, weird and wonderful first three quarters, which reminded me of Nightmare Alley … the final quarter of the movie (the court scenes) sort of ruined everything that came before … Gene Tierney was a great beauty, and having her play a psychopath was a stroke of genius … really dark stuff here, must have been incredibly shocking for 1945 (like Nightmare Alley was for 1947) … wish the last quarter was better, it’s a pity that it spoils it, maybe Zanuck meddled once again and messed everything up … was John Stahl gay? Was the cinematographer? Gay Russian Jews, maybe? It’s pretty brilliant, but at the same time I’m going to hold off from a green-go rating for now given the unfortunate courtroom scenes ending.
Bosley hated it. Tony Lane also not thrilled, but a little kinder.
Yes, she was that sort of monster.
Stock Du Jour, Tue. Apr. 28, 2020, CREX
Creative Realities Inc (CREX) was a latecomer HTB which eventually qualified as the stock du jour, doing 218,000 trades and $259MM in volume … originally IBIO was the stock du jour doing 116,000 trades and NAT also did 262,000 trades, though neither of those was HTB and I played them at IB.
I got a lovely short entry in CREX after paying 3.73 cents per share for the borrow ($373 per 10,000) … I’ve been practicing holding all day, but couldn’t bear the profits and covered a small piece when I was up around 20% and kept my original stop … shortly afterwards, right at 3PM it exploded higher and I was stopped out for a scratch more or less, after significant slippage … this was a squeeze for the ages and I’ll have to think more about how to manage my original stop in these situations, though things happened fast here and I might not have been able to tighten it quick enough even if I had the presence of mind to do so.
Frankly I’m pleased with how well I handled it … people who get stubborn and add to “work their way out” of a bad position bust out and disappear … CREX hit a high of $5.15 after hours so you can imagine someone with my entry and modest size would be down $30,000 there, unrealized. Scary.
The tape starts right around 11AM when I first noticed CREX on the scanner. I had been busy with NAT and IBIO at IB as well as TROV at the bookie. Slow down the tape at 3PM and watch the rocket ship take off.
Stock Du Jour, Mon. Apr. 27, 2020, YTEN
Yield10 Bioscience Inc (YTEN) was the stock du jour, more specifically the hard-to-borrow (HTB) du jour, doing 140,000 trades and $241MM in volume … the bookie didn’t have borrow at first but I got some eventually at 8.73 cents per share ($873 per 10,000). They waited till right at the close to break it and I was there and caught it, but foolishly covered into the closing bell only to watch it fall to $6.68 low after hours (ugh).
AYTU also active with 185,000 trades and IB had some shares so I played that one there. INO did over 300,000 trades and I played it terribly, again with an IB borrow … had a wonderful entry at the open, but got faked out (inexplicably) and got pissed off and my re-entry was bottom tick, but thankfully they took it all the way down to $13 so it wasn’t a total disaster for me (14.55 to 13.30 ave all out).
I also got a good play on NAKD (114 to 83.9 ave all out), borrow was 4.17. Lastly I played AVDL, 12.59 to 11.78, but I screwed up my sizing and made about a third of what I should have there, borrow was 3.69. The usual day of mistakes and missed opportunities, but I’m new at this game, you know, only been trading 25 years now.
End of Empire
See what the Sports Illustrated swimsuit model looks like in ‘murka today?
“When you see circus sideshow people now, you don’t bat an eye.”
Beached whale pose