There were no minimum 70% gappers today … PRTG came closest with a 57% gap. I paid 25 cents!! per share to borrow this ($3,198 upfront) and then it went up 95% from the open taking out all the fixed 20% 30% 40% 50% 60% 70% 80% 90% stops (100% stops safe), as well as the pre-market high of $7.71 … so it was another gapper that lost money into the close, and oh yeah, the $3,200 paid upfront for a borrow. See why so many genius day traders disappear?
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Stock du Jour -- STAF
144% opening gap… Opening Print Boyz play … short the open ($2.93) blind. After 10:30 AM, put protective stop above whichever is higher: pre-market high of day ($3.75) or pre-10:30AM high of day ($4.64). Cover end of day, this time for a scratch. Try again tomorrow. Oh the borrow was 10 cents a share which meant $3,700 out of pocket upfront. If you were wondering why the Uxinator didn’t mention it.
Stock du Jour -- REVB
REVB a 100%+ gapper so all the OPB boyz on it … the rigger knows that everyone and his grandma slammed in short at the open so they ramp price up 65% clearing out all the 20% 30% 40% 50% 60% fixed stop guys, then drop it right back down. I exited all of my short at EOD for a tiny gain and then #whocouldanode: Revelation Biosciences Inc. Announces Exercise of Warrants for $3.8 Million in Gross Proceeds … I missed a huge win by not swinging it. Well done, riggers!
Stock du Jour -- INM
There were three gappers that qualified for Du Xiuxian’s 70% criteria this morning: INM, TGL, and TTNP. The story in INM was complicated though since one could have shorted the first ding below 35 cents and taken a max loss … if you employ a nonsensical 50 cent price floor on dings, then you were safe. There were dozens and dozens of other plays in PM (pre-market) and RTH (regular trading hours) in addition to the Opening Print Boyz plays, and they all dropped like rocks, so it was an easy day to make six figs. DPG.
Stock du Jour -- ALZN
This was a nanofloat (sub-million float) that dinged at $3 in the PM (pre-market). I was MOST fortunately on my morning meadow walk when this happened, otherwise who knows what would have happened. It went straight up opening at $7 and then more than doubled to $15.06.
Apparently the clearing brokers screwed this one up by making it ETB (easy to borrow) so everyone could short as much as he wanted at $3, then they figured out their mistake and when I got back I had to pay $1,147 (.099 a share) to borrow it, which I was damn grateful to do. But it still doubled on me, lol.
Had I shorted $3 in the PM I probably would have pulled my stop, added to the loser, and top ticked out exactly at $15 because that’s how all pro traders handle things in reality. Anyway CING went sideways all morning then dropped 60% into the close handing me and everyone else a SCRATCH (minus borrows). I’m sure there were people who lost everything in this 638% mover.
Study the table below the chart, it’s the most important thing to pay attention to.
Stock du Jour -- CING (again)
CING continued its run… 118% gap means Opening Print Boyz (and me) involved … closed up 69% from the opening which means I took a loss here… the high of day stop after 10:30AM would have saved me quite a bit of money, but I’m still not sure if lowering the stop to there would be a good idea in the long run. Will continue to track this anyway. Crummy end to the week, but we soldier on!
Stock du Jour -- CING
125% gapper so short the open with the Opening Print Boyz (I was early and had a worse ave than $4.16) … they rigged this one though and cleared out all the RTH and PM HOD stops … slippage would have been terrible. I carried it into EOD and took a 50% loss on half and will swing the rest, which I may break even on. (He says hopefully. :-) )
Someone in my Discord hipped me to the AskEdgar Discord, which looks invaluable.
Stock du Jour -- ALBT
Thankfully I was on my morning meadow walk when this thing first dinged at 35 cents… I would have been up the creek if I had entered there, but by the time I got home this thing was up 200% making it a perfect Opening Print Boyz play… I paid between .009 (later) and .02 (earlier) for borrow (over $1,800 upfront!), but it was worth it since it dropped over 50% into the close. Big win for the brainless Opening Print Boyz … this is the opposite of a JRutian Big Brain play: you can be a total moron and just play these every day. Don’t worry, most people are too smart to do this so you want have any competition.
Study that table below the chart! It’s all you need to understand; it ain’t rocket surgery.
Stock du Jour -- MKDW
This was a 4AM mover so if you weren’t up at 4AM, you missed it. Probably didn’t have any borrow then anyway. Big day for the blind shorts though. Check out the table below the chart… that’s what you should study every day (click to enlarge).
Stock du Jour -- GNLN
This thing was the biggest gapper (see table below the chart, click to enlarge) opening at 9.50 and I paid 45 cents a share and got short with a 10.09 ave and waited around all day for it to drop below $5 … but the rigger launched a squeeze in the late afternoon taking price up to $21.50 a share (reminder: it closed at $2.47 yesterday, that’s a 770% move, see table below) before #whocouldanode: Greenlane Announces Pricing of $6.5 Million Private Placement Priced At-the-Market Under Nasdaq Rules