Weekly Roundup June 23-27

Jul 1, 2014   //   by Profitly   //   Profitly, Profitly Weekly  //  Comments Off on Weekly Roundup June 23-27

Are you guys ready for another weekly roundup?! Let’s waste no time and get right down to the big trades of the week.

We’ll start with Tim. First he had a $3,671 profit on LITB. Tim bought 15,700 shares at $6.38 on the 27th and sold them later in the day at $6.61. Entry comments: Buying this online retailer after a slight increase in expected earnings & intraday uptrend…the beginnings of a turnaround? Not much downside and this stock is down from the $20s so I like the potential upside here, goal is to make 30-50 cents/share in the next day or so, analyst upgrades probable Monday, also 1.24 million shorts 🙂 Also bought some in my http://tim.ly/timlong portfolio for longer term hold. Exit comments: Nearly 30 cents/share in under 30 minutes, yes please I’ll take it without any overnight risk…still holding longer term position, but this is a PERFECT Friday afternoon short squeeze as outlined in my TIMtactics DVDs, take advantage of this DVD sale and study! http://tim.ly/studysave.

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Then we have a $3,395 profit on CHGG. Tim shorted 35,000 shares at $8.04 on the 25th and bought them back the same day at $7.94. Entry comments: Reshorted CHGG on this tweet http://tim.ly/1o3U44D Seeking Alpha expose coming tomorrow talking about intensifying competition from AMZN, yes it’s a technical breakout but these breakout traders should run & hide on news of this expose, lately Seeking Alpha exposes have impacted stocks the day before the expose came out like REFR, goal is to make 30-50 cents/share. Exit comments: Now 7.83 and falling so I just played it too safe, but this stock scares me…just spiked back to 8 for a minute after multiple chatrooms/Twitter exposed the coming expose, it probly goes lower, but I don’t even know anymore as some Seeking Alpha exposes are best played the day before and this stock still seems strong…taking small profits overall today and glad to be out, maybe I get back in before the market close, but tough to call here.

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Then we have a $7,505 profit on CRDS. Tim bought 45,000 shares at $3.56 on the 26th and sold them the same day at $3.73. Entry comments: Breaking out of nice chart pattern/January highs, straight out of http://tim.ly/natedvd & alerted by several people in TIMalerts chat, thanks JGram & Paretto, I tried buying at 3.50, some other big buyer beat me, goal is the high 3s, not a fast mover, but gotta respect a high volume chart breakout like this, low risk as gotta get out if it doesn’t hold 3.45 breakout. Exit comments: Sold all remaining in afterhours trading as it’s hitting my target of 3.80…this isn’t a fast mover and I LOVE the breakout, just not sure how long it can really last since it’s up a ton on relatively no news…long story short I’m taking $8k profit with no overnight risk…during a slow summer I’ll take that ANY day, congrats longs!

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We do have a loss to talk about as well. He made a mistake and lost $2,000 on CHGG. He shorted 20,000 shares at $7.89 on the 25th and bought them back later in the day at $7.99. Entry comments: Looks toppy here at bigtime resistance at 8ish, this is a speculative short as it was a speculative buy for me in the low 7s, volume is fading from the recent spike, risk of losing 10-15 cents/share, downside of 5-70 cents/share, I like the risk/reward, will try to give this some time. Exit comments: Covered for small losses, looks strong, no thanks, small losses can never hurt that bad, big losses kill.

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Then we have Superman. Let’s start with a $1,825 profit on TNXP. He bought 5,000 shares on the 23rd at $13.15 and bought them back later in the day at $13.52. Entry comments: TRADE/SWING personal stop loss tight area 12.75 isn and personal target 13.65-14 plus if it works. Exit comments: SUPER TRADE from watch list…may go higher and will keep on watch but I like starting Monday off with a $$$ trade.

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Lastly we have a $5,010 profit on KONE. He bought 5,000 shares on the 24th at $5.40 and sold them the next day at $6.40. Entry comments: DO NOT CHASE – TRADE/SWING into earrings ..thesis is this low floater moves into earnings as they said profitability this year in last ER…..personal stop 5 area and personal target 6-7 plus if it works. Exit comments: super trade – earnings are tomorrow.

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Last but not least we have InvestorsLive. First is a $2,980 profit on GPRO. He shorted 1,500 shares on the 27th at $39.26 and bought them back later in the day at $37.27.

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Then we have a $9,553 loss on IRM. He shorted 6,000 shares on the 25th at $34.79 and bought them back later that day at $36.38. Comments: Auto import trades as of end of June – trading got sloppy in Wedbush the last 2 weeks of the quarter — ETC and Etrade have been great but not how I wanted to finish out June in Wedbush (account I verify).

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Don’t forget to check up the previous roundups here:

March 30-April 4

April 7-April 11

April 14-April 18

April 21-April 25

April 28-May 2

May 5-May 9

May 12-May 16

May 19-May 23

May 27-May 30

June 2-June 6

June 9-June 13

June 16-June 20