Nice example from this morning’s pre-open trading in SGBX … I was not present to take advantage, but I know what to do when I see it!
Click to enlarge
Stock Du Jour, Mon. May 4, 2020, APDN
Applied DNA Sciences (APDN) was the stock du jour, doing 122,000 trades and $295MM in volume … it was hard-to-borrow and I paid my brookie (newly coined) between 10.72 and 18.4 cents per share (weighted average 16.73 cents per share of $1,673 per 10,000). Let’s briefly think about a small account attempting to short hard-to-borrows … say they borrowed 1,000 shares for $168, think about how perfect their timing would have to be to justify that kind of expense? This stock was at $13.07 pre-open, up from a $6.63 previous close, so plenty of range here to justify the cost, but that’s not always the case.
Bros who have no method and just randomly get in, more or less, are fine when things fade all day, and they can pay their borrow fees then, but what about the losing days? Fees will destroy the little guy who is trading randomly (no consistent approach).
MVIS came on my radar late because it was a sub-dollar, but it did 205,000 trades and $302MM in volume. IB had no shares anyway. Other actives were CODX (no shares available at my brookie), RVP with 54,900 trades … I was short RVP (it tricked me in), and it ran hard in the afternoon … if I were risking to Grittani’s $5,000 high of day, I would have lost that much, but I don’t risk to high of day. VSTM was active … AGRX, FLDM I traded at IB since they had shares.
Good day, big win on APDN with a lot of shares and I was pleased with my trade management in it. But tomorrow is another day and you’re always one trade away from going on tilt, losing everything, and disappearing from TWTR forever and ever.
Comments on Grittani Trade Recap: Short HUSA
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 HUSA, initiated on August 1, 2017.
Position size: $63,000
Comments on Grittani Trade Recap: Short IFON
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 IFON, initiated on July 26, 2017. IFON has done two reverse splits since then so the scale has been multiplied 25 times.
Position size: ~$35,000
Click to enlarge
Comments on Grittani Trade Recap: Short AEZS (win)
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 21, 2017. He swung this one for two days, risked $7500 to high of previous day, made 74 cents or 5R on this swing trade. Multiple R trades are more likely on swings than day trades.
Click to enlarge
Comments on Grittani Trade Recap: Short TOPS
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 $TOPS, initiated on July 24, 2017.
Position size: ~$45,000
Click to enlarge
Comments on Grittani Trade Recap: Short AEZS
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!