MOJO Swing Trades - 11/5 - LUNCTIME UPDATE

Published: Tue, 11/05/13

Tuesday November 5, 2013

Hi MOJO Swing Trader,

OXBT = went to $6.75 from the short at $7.02 - that is a 4% profit in a matter of an hours time. If you covered the short great job. This stock is moving very fast and if you more long term minded then hold it longer. I would rather keep on booking profits no matter how small they may seem they add it big time. If you missed the short cover at $6.70 range do not miss it the second time around today because it will test that price Have some bids in to cover is a good idea. Maximize some should it drop hard from there.

DRWI = committed now to this one. Feeling strongly we have a bottom. Earnings estimates are raised this stock should be under accumulation and not selling pressure. See if it ends here at $1.28 X $1.29

Email from earlier -

Nice opening trade on CSIQ. Very pleased there as the top was called and the bottom was called today.

OXBT = is a major short play. Short it above $7.00 and you looking good. Two day play. Grab 2,000 sh short here above $7.00 - may be covering half at the end of the day. Stay tuned....

CNDO = is a no go selling it.

Email from earlier -

PICKED UP 500 Shares CSIQ Short avg price $29.00 - can lock in half anytime as low is $27.30 and see if we can get a dump on the other part. A profit is a profit is a profit. Trail Stop $28.00

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I think the solar run is about over and due for a reverse to red side. The top SHORT CANDIDATE is ......CSIQ (Canadian Solar Inc.) See Chart & Image - it has gone up soooo much and the last 5 points to the upside we can retrace back 3 of them no problem. $29.00 to $26.00 short play. Sell half along the way. Pick up a few hundred shares short today at the open - Short into the rally get a good price. Stay tuned for another lunchtime update if not a profit by then.

VXX is up premarket with high of $12.68 - let's close the options for a small profit then close the VXX during the day for a profit too. Same with VRNG. (NO RUSH)

From last night's update -

The market is showing resilience and is kind of scary right now. Very close to an all time high and a possible panic squeeze and dump back with the market. Could be quite volatile, that is why I am surprised VXX has not soared over the past three trading sessions. Starting to get position heavy with too many stocks to follow and looking over the holdings I decided not to be a landlord this month and collect rent with the covered calls on VXX & VRNG . I am closing both the stock position and the covered calls on both. Will be getting into more of cash position this week. Will give DRWI another day or two to work, if not will be selling it.

Thanks for reading, and profitable trading!

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

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