Hey guys - Im new to the forum, and somewhat new to investing. I'm a finance major at Ithaca College, and we have a contest that anyone can enter. We all get $100,000 in play money, as well as $100,000 that we can borrow on margin and pay interest. I was doing great day trading and shorting and got up to about $140k from the original $100k, but i took a $39k hit, so im back to square one. I want to steer away from shorting since its very risky, and I'm wondering if you guys can help me in deciding how to pick out stocks that will be strong momentum plays. Investing long-term isnt the way to win this contest so any short-term moves to increase my gain quickly are great! how do you guys go about finding stocks that will be strong momentum plays? I will even short stuff, but i dont want to make this mistake again. the mistake was that i found a stock (ZVXI) that shot from $5.xx to $10.xx in a day, with a 52-week high of $5.8x, so i figured it would be a strong play. of course, it continued to go up to 12.05 from the $10.21 i shorted it at. thanks guys, i look forward to any tips!
I recommend the Zanger report, Mr. Zanger is offering it FREE for 3 weeks. I have ordered it a few days ago, but apparently it takes a few days to get activated. I have purchased nearly a hundred shares of AAPL (Apple Computers) on Friday, at 69.09. I watched it for a while , and got in a little late. (Wanted to make sure that it had a good increase in volume)According to his 10 Golden Rules of trading. I may have purchased quite a bit too high over the trend line. But I will set trailing stops 5% below the highs and see what happens. He recommended AAPL on another site, swingtrader.com. Read up on the Zanger report, just enter Zanger report into Google. I am sure you will be impressed. He is phenominal. Be sure to do your homework before buying anything. Good luck in your stock contest. He researches everything for you, but remember their are no Holy Grails in trading. Please take a good day trading course before doing this for real, I am studying one by Harvey Walsh, it cost less than $100 and is very easy to understand and is very comprehensive. (highly recommended)