MOJO Swing Trades - 10/3 VRNG

MOJO Swing Trades - 10/3 VRNG - New Pick

Published: Thu, 10/03/13

Thursday October 3, 2013

Hello MOJO Swing Trader,

The market has been getting hit pretty hard and is down again today 126 points to 15,008 - like a magnet it's getting drawn to 15,000.

The CANSLIM stocks in the Model are holding up pretty well. I will be doing a video update today and send it later in the afternoon.

VRNG = going to revisit this stock here as been patiently watching it creep lower and lower for last month. The stock is $2.74 X $2.75 and has a history of making very big spikes higher. I think the rocket ship is now on the launchpad and engines just fired up.

Here is the latest news out about Google and the case - in an article from Seeking Alpha = http://seekingalpha.com/article/1727012-does-google-have-a-real-potential-workaround-against-vringo-with-its-new-algorithm-changes?source=yahoo

In conclusion, we believe Google will try to use leverage in determining damages of a possible workaround against from its jury trial against Vringo with its first major changes to its search algorithms in over 10 years to pay substantially lower royalty rates. In recent cases between Apple and Samsung (SSNLF.PK), a court did not accept Samsung's workaround. We believe though that Google will try to include new evidence of these algorithm changes in an expert's update to the court in October or November of 2013.

That news is priced into the stock here and its poised for a rebound back to $3.00+ - feel the risk reward here favors more reward than risk. Taking an Entry position here just to test the price - see which way it wants to move - then we get another Entry #2 either little higher or lower with more patience. The stock also has covered calls available - so there is always downside insurance protection on this one.

Thanks for watching, and profitable trading!

ProTrader Mike
email: info@mojodaytrading.com
Skype: protradermike
website: http://www.mojodaytrading.com

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