So I thought this was the trade that was going to put me over the top. Caught the $AXPW chatter in the room and was thinking that I just need a good .50 and that would be great. So, at about 3:15 I saw that price was making it's way back up from support aroung 3.20 and got in heavy with 5000 shares at 3.45. Was thinking that if it could just get about the 3.70 resistance area then new highs were going to be made. The crazy .10 or .15 'in the blink of an eye spread' didn't bother becuase that's what these crazy runners do.

At 4.00 I would exit or tighten the stop if that was possible. This would have been a quick $2500 for me. But then it happened. I didn't care that I was down .12 right after the fill becuase of the spread even though a .20 stop is huge in a penny stock. I was banking on this to 'happen for me'. Price stalled at about 3.54 and then the big red volume sell bar shows up. I have preached to myself and others that when one of the large volume bars shows in the opposite direction of your entry that this is usally a major trend change or even a top/bottom. I had dollar signs in my eyes that this thing this would come back. I held on but when 3.20 gave way I was thinking this would have to get bought up again like it was previously. At 3.00 I was down about $2500...the same amount I was hoping to bank. 3.00 goes and I get that heated feeling of losing big. Price popped momentarily and I thought that would be the run. Failed..got out at about 2.65 or .80 later or $4000 later. All in about 15 minutes...gone.

The fact of the matter is that this did not really happen! The fact is that if you think that 'one day' you want to be working from home telling your buds and the hotties or girls and the beaus that you are an independent trader and all of your income, bills, retirement fund, car payment, etc. etc. comes from your trading profits then this is the type of hyped price action stock that you avoid. If you can catch the run early in the day, for AXPW that would have been what? 1 to 130 then yeah, trade that. When price action is jumping .20 per tick and the spread is almost what your mental stop would be on any other stock why chance it? Some people were posting they made $$$ in two minutes! They probably lost it all the next trade. I have to admit that I had an order for a paulty buy 300 shares but deleted it becuase I told myself that "This is not the way it's done. This is not the way it's done." Short it if you can and it was sweet for those that played it that way.

Ya really want to trade for a living with this sort of price action? The spread was rediculous at the top at about 1:45 to 2:30 between the tops and when the 2:30 top failed at 3.85 ON NO NEWS...and people still paying for that spread. That's crazy dude. If you want to look at making stable consistent income you would avoid this type of hype ON NO NEWS altogether. VLTC ran for a reason. AQXP ran for a reason. The spreads were still wacked but those stocks had momentum along with readable dips and rallies. Don't become a 90%'er. Avoid these plays when price isn't trading and there is NO NEWS to get it moving.

Peace...