20 Dec

Futures Are Green, But I Don’t Trust The Market

by

U.S. stock futures pointed to a Wall Street rebound from the prior session’s losses, taking inspiration from an upbeat German business-sentiment survey that lifted European stocks. Volume continues to thin ahead of the holidays allowing small news to move the market in either direction.

The U.S. economic data calendar is thin, with housing starts for November due at 8:30 a.m. Eastern time.

That from MarketWatch but from me I’ll tell you this. I think there are plenty of sellers out there still and there’s no reason to think the green futures will stick. For example, we’ve gaped up last Tuesday, Thursday, Friday and yesterday only to close the day red. With the declining volume it’s hard to believe today’s gap is the one that will stick. Personally I’m just not buying it.

Yesterday I locked in over $2,000 on MILV, THQI, RIMM and GEVO. Two of them were swing trades (GEVO and THQI) and MILV was supposed to be but I didn’t get my fill until Friday at close – hence no time to alert you. Sorry but that’s how the market works, especially when trying to fill pumps on the bid. RIMM I shorted for my DVD and it worked perfectly – helped that the market fell but that’s a big part of shorting. My goal is to finish that video over the holiday break.

Some questions have come up about my new day trade newsletter ‘JasonBondPicks Winning Day Trades’ – let me address them.

1. Do all of your trades go out by alert? Yes, all of my SWING trades go out by alert, that’s what your subscription is for… ‘JasonBondPicks Winning Swing Trades’ and I do 3-5 swing trades every week. The cost of this newsletter is $295 / quarter or $995 a year. The price range on this newsletter is generally $.25 – $5 so customers know exactly what to expect. These are buy / short with the intention of holding 1-10 days as advertised. I will close the trade on day 1 however if I’m up 10% in a few hours.

2. I see some trades on Profit.ly that didn’t go by alert, why is that? Those are day trades I’m collecting as material to market my new product… ‘JasonBondPicks Winning Day Trades’ and I’ll be doing 5-10 of them a day. The cost of this newsletter will be $1,995 / year and is meant for the guy or gal who want more ideas than my swing trade newsletter and don’t mind sitting in a chat all day to get them.

3. Will existing members get this membership for free? No, I’m sorry but that won’t work well – the idea is to attract guys / gals who want to trade along side of me when I throw $100,000 at a trade for 5 minutes to an hour with the goal of making 1-3%. Carrying over my existing membership would not be wise because a newsletter like this doesn’t apply to everyone, especially the 90% of my existing subscribers who work during the day and only want to follow 3-5 swing trade alerts per week. Anyone who is on the ‘swing trade’ list but wants ‘day trade’ too will be given a hefty discount though. There will be no discount if you opt out of the ‘swing trade newsletter’ for the ‘daytrade’ newsletter. But I’m thinking 50% off for my existing customers who want both. I’m in this to make money but I also try to take care of my guys / gals who support me right now.

4. When will the new ‘Day Trade’ newsletter be ready? My hope is in January but right now we’re moving the ‘Swing Trade’ newsletter to a new platform so that will need to be finished first. I’ll keep you posted but I’ll definitely gunning for early January so we can track a full year worth of day trades.

5. Will day trading take away from your ability to spot good swing trades? Guys, come on with this question!!! I’m at my trading station with 6 monitors 18 hours a day. The ‘Winning Small Cap Swing Trades’ newsletter is designed to send 3-5 alerts a week yet I pass up on at least 3 solid day trades daily because I don’t have a vehicle to sell day trades yet. I’ll always be a swing trader first but there is nothing wrong with scalping some stocks given these choppy markets and more importantly I have a lot of customers who want the ideas.

Having said that, last night I took some FAZ long at $44.87 which isn’t going well so far this morning but again I don’t trust the market to hold the gap today. There really wasn’t any really good news out there so sideways to down is what I’m thinking. FAZ was another trade I’m doing to build a history of day trading so I can sell my new ‘JasonBondPicks Winning Day Trades’ newsletter.

Nothing new to report on USAT, HKN or LOCM outside of they all drifted lower on me Monday with the market. USAT broker support at $1 which upset me but I expected it. This is a stock I want to be in come January so at this point I’ll just be holding USAT until it’s at $1.60 barring any major changes. HKN I like the least but it is a real company so I’ll give them a shot since I’m down… for now I can trade around it. LOCM is frustrating up $4,000 on day up $1,00 the next… I’m glad I sold my 10,000 shares at $2.39 now and will continue to hold this 10,000 block with a goal of $2.70 – $3.

Most stocks that are trending down will not break trend in December as that is the tax selling month so you can expect them to drift lower, especially on bear days. Today’s watch list will be made up of positions I’m looking to load in January because I intend to be 100% stock come the New Year.

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