‘lo mates. Haven’t been posting since a while… short summary:

- transfered my funds from Swissquote (Switzerland) to ThinkOrSwim (US)
- started again with 3982$ (25 Feb 2008)
- bought on 13 Mar 2008 some BSC puts – and turned the account from 4908$ into 13321$
- made another nice short on the same day and closed at 14574$
- playing LEH right now: staying at 18276$ 12.34pm (Strike 25/Mar 08 Puts)

Note to myself: Stop buying into hypes, wait for good entries.. damnit!

4′018.65 CH (-37.65 CHF/-0.1%)

Was pretty busy today and the market seemed to be scary to hunt, so I held again my COIN positions and will wait for tuesday (monday is president’s day). If there won’t be any action, I’ll sell it, take the loss and look for another stock to play.

Shares to watch are FRPT (gov. contracts) and NYNY (rumours about a casino).

Also I’m thinking to move from my broker (Swissquote) to another one in the USA; ThinkOrSwim seems to be the favourite.

4′056.30 CHF (-281.50 CHF/-6.5%)

Ain’t no sunshine in this market. There was no action yesterday; so I held my COIN positions and I’m still waiting for a better point to sell.

COIN closed at 10.05$ today (opening: 10.15$).

4′337.80 CHF (-161.9 CHF/-0.37%)

Sold my not-volatile FRPT positions at 4.05$ – and to be honest, because I wanted to jump into a share mentioned on thelion.com, which (I noticed afterwards) wasn’t available on my broker platform – DOH.

Second mistake: I saw COIN flying away and bought into the hype/breakout at 10.93$, instead of waiting for a little bounce back.. Next time you see me, please kick my ass for this. Thanks.
Anyways, talking about COIN: this stock seems to be contantly growing and getting stronger. As I have learned today from Tim Sykes DVD, this is more or less a clean and bullish pattern to profit from. Please correct me if I’m wrong, heh.

Summary:

- Sold 1012 long FRPT at 4.05$ (closed 4.06$)
- Bought 360 long COIN at 10.93$ (closed 10.75$)

Update:

Found comments about COIN here and here:
“COIN is not a perfect breakout, but it’s a nice multi-day one. it’s been trying to breakout the past few days, failing every time. this was the first time it spiked into the close. if it doesnt gap up, i’ll sell for a 10-20 cent loss, but the upside is 50 cents-$1″ (Timothy Sykes)
“COIN really surged at the end of the day, and I am going to be looking to short it if it gaps higher at the open tomorrow. ” (The Market Kid)

Update II:

Come on! COIN went AH into the 9.xx area… !@# I should start playing roulette instead of this – I might have better odds.

Update III:

COIN S3: http://sec.gov/Archives/edgar/data/1366340/000095013508000903/b68568s3sv3.htm

“This prospectus relates to the offer and resale by certain of our stockholders and warrantholders, referred to as �Selling Securityholders,� of up to 750,000 shares of our common stock, par value $0.0001 per share, 750,000 redeemable Class A warrants, and 750,000 non-redeemdable Class B warrants that they own or that they may acquire pursuant to the exercise of warrants; and to the initial issuance of shares of our common stock upon the exercise of the Class A and Class B warrants acquired from the Selling Securityholders pursuant to this prospectus. We will not receive any proceeds from the sale of these securities. We will bear all expenses in connection with the registration of the securities.” (Thanks to edj@thelion.com)

Update IV (and the last one, 2am here):

Uff, those news were old (29. January) and the sellers just overreacted. COIN is back to 10.xx, will hopefully recover until tomorrow..
See here

4′499.70 CHF (+0 CHF/+0%)

1012 LONG FRPT (@4.00$). Let’s see how this develops. Could see 4.5$ today and if the shorts get humped this week, easy easy 6$ (see here).
Will also watch COIN today; since 3 weeks it’s getting spiked every morning and then calms down towards the end of the day…watching for a good entry point. Stay tuned.

Update: 17.15 CET

FRPT moving slowly.. we need some news.

Update: 20.46 CET

Sold FRPT without gains (4.05$). I asked Tim Sykes how he feels about this stock and he answered: “FRPT is going nowhere fast. literally. don’t believe the hype, play volatile stocks!” – Let me get back watching his DVD and learn from him

Nothing much to say. I’m a bad trader and a real newbie.

Just trying to fix this somehow and document my progress.
Comments are welcome.
Credit where it’s due, inspired by http://themarketkid.blogspot.com and http://timothysykes.com.

Cheers,
Joey