Finally got back in the tramp plays this morning and it once again gave me the fever.

Todays play was CNTN...... fell from .09 to .045 and stablized. I bought 15000 shares @ .047 = 705.00 + commission and 1/2% 10.53 for a total of 715.53. Sold 15 minutes later @ .064 = 960.00 - 11.80 = 948.20 for a profit of 232.67 or around 32%

A tramp play is a stock that plummets huge in one day. It can be from an over reaction to bad news or sometimes just a huge sell off. Tramps are not the normal bottom plays that have slowly declined over a period of time.
When buying a tramp play we are looking to buy after it has bottomed out and has become stable at that price. Many times it will be better to buy as it starts to rebound (remember the old saying: never try to catch a falling knife)

These plays are normally from only minutes to no longer than 3 days. If the profit is there take it and move on. If 2 or 3 days pass with no rebound its sometimes better to move on.

These are not always winners but can pay big returns in a short period of time. They are also risky plays so make sure to limit your losses should it take another dive after you buy in.

Everyone keep your eyes open for the tramps and throw them in here and we can all make some nice green.

EDIT: One major thing I forgot to mention is to always check the charts & 52 week highs and lows. Its not going to do us any good to buy one that the day before ran like crazy because of a group play and closed much higher than the normal trading range. We are looking for stocks that fell far below their normal trading range and preferably down to or below the former 52 week low. Never buy one for a tramp play on a fall from some huge run

Clappy Hands for you brother..

ETIM did that yesterday as well. Dropped to .0035 then Closed at .0055. Because I didn't have any dry power...I just sat and watched. :mad:

Thanks!!!! That happens but its tough to watch....lol

How do you find these tramp plays Aufan?

__________________
No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.

Buddha

I usually wait until about 30 minutes after the market opens and start checking smallcapcenter.com and then click on losers and it will start from the biggest % loser of the day and go down (you can do the same thing for winners and check for big movers of the day)
. I then check for a pr to see if there is any reason for the drop. One thing to watch for is to always buy the stocks with good volume. A low volume stock here could be a killer.

Great info Aufan, Thanks!

No problem. While tdcp was in the long slump I took about 6 weeks and other than tdcp these were the only stocks I played.

If you find any good ones throw them in here.

Best of luck!!!

Man it would sure help not having a job to track these stocks . I need a get-rich-quick scheme, pronto!

__________________
No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.

Buddha

That's one of the reasons that everyone should watch MAs. ETIM came down hard and bounced right around the 200dma. Just responding to you, Chief, I know you're well versed. But newbies should always pay attention to moving averages, PPS tends to "bounce" off of them like support and resistance.

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Learn Pincher Plays and the Basics of Technical Analysis. I've learned a lot from Greencat and CC and a portion of all sales go back to SMC.

"Always bear in mind that your own resolution to success is more important than any other one thing." - Abraham Lincoln

"The heights by great men reached and kept, were not obtained by sudden flight. But they, while their companions slept, were toiling upward in the night." - Longfellow

Full Disclosure

how much volume is considered good volume?

also if there is no PR, do u still play it or what?