..Jar of peanut butter

Last night we noted AA numbers, although the best in co's Q1 history, it will likely be a ho-hum to the market.  We didn't anticipate a 9th straight of new highs for the DJIA and that simply relates to our make up going into the day.  Basically, it is a stance of caution and a willingness to sell as we see nothing ahead for the day.  This is expanded by the uncertainty of the Minutes at 2pm and what it can do to the market.  This is simply a cloud over the market and this doesn't exacttly make us buy happy, but rather sell happy and that's what we mostly did this morning.  Nothing was revealed that gave us cause to step back in the afternoon.  Still...we stuck around in anticipation of RIMM's numbers to step into an old DJIM name, the funds were ready and we got ready for the first true EPS play of the season...licked our fingers and were ready to dip in the RIMM peanut butter jar.  You see when it comes to stocks in the 70's to over $100, we joke about how many fingers you gonna dip?..a finger is a 100 lot.  We're not exactly gonna dip 2 hands full at 140 bucks a lot.  Well...we were quite disappointed RIMM's guidance couldn't give itself a jolt or maybe the techs going forward.....But then we got a pleasant surprise it seems with another peanut butter stock....AMAG

AMAG, this was a pick up in late March....Well we played it from just under 60, got the breakout recently and left on the 3rd of April as today's results were to be released that afternoon AH.  We said we'd get over a gap open in the morning if the results were favourable, but today we got a gift at 4:30 as the results from two trials were released and we had it to you in a few minutes.  We found our Jar and dipped into this around 70. We love the float of this stock near 10 million and a big short interest.  This one is also loved by the analysts and we expect to see some kind words tomorrow morning.   Now that it is trading at 74, we are to believe this will be kind and we could get more follow through.  The beauty of the market is AMAG gave us what we were looking from RIMM....the best part is it might give us more by late morning than RIMM could ever have..easily.

late March, ..."we used to trade this back in early 06' with great success under a different symbol, it's a streaky stock and if you get on the right side..at the right time this one can be quite the winner. It's in late-stage development for iron deficiency related anemia in chronic kidney disease and that is the speculation part.  We started very small and will see if the small float and big short interest can dance with the Deutsche Bank $100 target put on it today".

UXG, was a premarket buy in the 5.60's and quickly climbed to over $6 at the open and a a quick 6-7% for the flippers here.  Well, we actually did some of that and as we said we will look to buy the dips, which we did later again.  Having some gold rather than the Nasdaq stuff seemed like a better idea later in the day.  We are traders and if we get 6-7% in the first 10minutes, we will take it.  It finds itself there over $6 in AH's today and we think it goes higher.  We will continue to trade these cheapies GRX, URX and now UXG.

ASTI, we explained the play last night after alerting to it late in the day. Well buying and saving 20c on a early entry didn't matter much did it?. This baby got love premarket and it extended to an early 10.80 high. Yeah, we sold up there in the 10's..we said last night what we are doing these days.   If you didn't catch BT's email of its potential early in the day or don't get in on our late day buys...don't worry there will be more opp's like we said before in this name.   Right now, we are exhausted by the TSL's, FSLR's after the nice moves here and now ASTI.  We're taking a breather now on them even though this was one of the few sec's up today.   We're holding some FSLR end of day only.

USAT, we noted this one surprised us so far and that we could get something to look forward to.  It came pretty quickly and a shot up to 12.50. Not bad for a 10.60ish alert end of day a few days ago.  At this point we are trading it, it has potential to trade beautifully if more momo money discovered it.  Right now it feels like its on the fringes as nobody knows what to make of it.  It's not exactly earning related and momo traders aren't about to go deep into DD on this or any stock.  We added and then sold some.   If you were watching  you probably pulled off a nice intraday trade after our note.   Again..we are trading it and hope more come to it.   If you wanted to hold it for a few days, you had your chances to buy around $11 and to sell today and make a quick 10%+. 

SLP, it had a fine afternoon and from previous history, we'd be patient and drive into it more when it moves.

Everything else was ho- hum and anything lagging was being cut off for the time being.

.. a sigh of relief

Let's be honest and take a small cap market with no conviction as a winning day today.  This is because we were opening today to a sell off in overseas markets due to rate hike speculation in China and a 4.5% drop in the Shang'.  Here we go again...February 27th!....NOT!.  As earnings reports step up in numbers, it is evident the market is waiting for the techs to come in and push this market higher.  So far, they are clearly not serving up as a catalyst for this market.  We need something soon to get out of what feels like summer trading to us!. 

Deal with what you're given and try to make the most of it...even if it's a AVNR!.  A trade is a trade, money is involved to make more money, so who gives a hoot if some stocks are of the paper bag over the head material.   As long as you use the same trading discipline but with a little extra care, even a $1 dollar stock can be the only win you'll need all week or month.  There is not much to say or do we want to say more about it, except it went just like our gut told us this morning with a 20+% pop that was there within minutes after the bell.   Speaking of paper bag, this one got ugly as it threw up in one when it cracked yesterdays support at $5 and closed under $4.   Like we said in the forum, we didn't give a damn or give a damn about any stock that goes nearly 50% in a few trading hours and try to find another entry.  Those looking for another entry today are mostly those that missed the train.  We usually bet the first train out of the station will be the runaway.  That's the one you want a ticket on!.  We turn our back on such plays after such a run and so should have anybody that got in on DJIM's alert in the afternoon yesterday. The risk is not playing a $1..2..or 3 dollar stock.  It's not knowing how to play that is the risk.  Hopefully, we covered this type of play enough last night for future speculative plays that come across DJIM.

Last night, we noted that there a few too many stocks with a chance at breaking out but failing to do so.  Today...just before 1pm, we noted we'd be looking for follow through later in the day to add positions in FCSX and RCCC.  Clearly ...this did not happen as both started to give up their gains on the day soon after.  You can add these to the ' a few too many ' category.  Maybe they should just give up now and pullback ..really pullback.

ATR, this one pulled off one of the better reports so far this Q.  It had everything... a beat the street, a raised guidance and even a 2-1 split. This type of stock falls into the ABM's of the small cap world, we don't expect it to be a runner, but potentially a nice stock to accumulate in a good market as this is 90+% institution owned.  We got a starter at the open and will add if it performs better than last Q after day 1 earning. The split might just give it more upside in the short term than last time.

USAT, this was our only other buy coming late in the day. This one has held up quite well since we into'd it April 9th. Todays...POS news launch just happened to coincide with USAT kissing the 9ema for a few days. One couldn't do it without the other today for a NCH move. We'd like to see more volume come in to make it more than just a trade for a day or two. We'll see....

This is not the time to jump right into a play because your book is thin.  Be patient.  It's hard, very hard after the explosive runs we had here in JSDA, TSL, UXG and more.  Don't trade for the sake of trading, trade for the sake of making money.