Monday, November 19, 2012

Trade of the day, ELAY!!!

So my trade of the day today was ELAY. I was watching this stock on Friday and notice it had good volume buying and selling every 5 minutes until the close. I have come to realize lately that these OTC/pinkies with a lot of good volume throughout the first big/pump day to the upside usually like to rally the next day if they don't gap up too much or have a little selling when they open. I decided to test my theory on ELAY today by buying 300,000 shares at .0035 and place my stop at .003 when this sineario started to playout on it this morning. Sold at .0065 when it started to get a little top heavy around .0070 for a .003 point gain. That my not seem like a lot, but on 300,000 shares that is a $900 profit in 30 minutes.
If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on twitter @tradermike9.

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