July 22, 2013 : True to form, and as we prognosticated in this morning's Daily Trades email, Darth Trader/Penny Stock Psycho's pick of PWEB today was an unmitigated disaster, according to t onight's edition of The Nightly . The t rading pattern pretty much followed the play book, illustrated by the Darth Trader Daily Trades Report , with the high of the day set early, and traders spending the rest of the day chasing the high. At the end of the day, 99% of all buys were at prices higher than the closing price. Expect more losses to incur tomorrow . The word is getting around about this guy's "picks" and we think his picking days could be coming to an abrupt end. Dollar volumes for Darth Trader "picks" are way down.
GBEN continues to surprise, not in that it closes down on almost every day that it is promoted, but in that they can still find anybody to buy this garbage. Today's promotion once again resulted in almost nothing but overpays (buys at prices higher than the close) and a dwindling share price. It closed subpenny for the first time, but certainly not the last time.
RSSI is a fairly new Pump & Dump, just completing its third day. It is moving mostly sideways, but still creates enough peak during the trading session to end the day with a plethora of overbuys. Another day or two of this type of action will result in captitulation and we could see this thing with no assets, go subpenny in a hurry.
Other issues which had almost nothing but overbuys were AMMX and HALB . Tickers which saw more than half their buys at prices higher than the closing price included: ARTH BLBK PEII and WNTR .
On the positive trading side, shares of XUII continue to amaze, however temporarily. Almost every trade closed in the plus column, setting up a tremendous catastrophe whenever the inevitable crash occurs. And it will occur. Shares of NHYT continue to perform well and TQLA bounced off the lows with the restart of its Pump & Dump. Very few trades in these two issues closed down on the day, but as both are already well established promotions, the bottom could fall out at any time.
You'll notice that we've added two new features to The Nightly today. One is a new column which indicates the time of day at which the high trade occurred. We feel that it will be interesting, and perhaps very telling, to see how much of the day is spent chasing the HOD. We think that you'll find that the HOD occurs very early in the trading day on an almost consistent basis.
We've also added links to the Daily Trades Reports for those stocks featured in The Nightly that have a DTR available. The link is indicated by a purple symbol.
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