To OTC Journal Members:
 

You will find a newly posted BLOG with a complete update on last week's annual 10K filing of the audited financial statement from Spicy Pickle (OTC BB: SPKL). Definitely worth a read- this stock will be much higher in the next Bull Market in my view. Read my comments, and find out where it could go between now and then.

I've also started a new feature- a daily BLOG with a short review and some observations on the market and how I see it. I won't be able to publish it every day as it can be tough when traveling, but I'll try to do it as frequently as possible. Let me know if you find it valuable.

For those of you who are following my short term trading ideas in the BLOG, this past week I closed out the Lehman (NYSE: LEH) puts I suggested in last weekend's edition. I held them for two trading days- Monday and Tuesday, and closed them out on Wednesday. Happy to notch a $3,000 gain on an $8,000 high risk investment in two days, but left some money on the table by exiting early. Between GS and LEH I'm 2 for 2 on the short term ideas I've shared. Perhaps I'm due for a losing trade.

On Friday, just before the market closed, I picked up 1,000 SPY (ETF for the S&P 500) at $132.06 as posted in the BLOG. I think the larger market will bounce early next week, and I'll scalp a couple of points off this trade. 

If you want to follow these trades, you can either check the site periodically, or use the RSS Feeds to imbed the BLOG in the home page of your browser. Simply go to the home page at www.otcjournal.com and check the right hand menu bar for new postings.

The BLOG is your opportunity to ask questions and offer comments. I will make an effort to answer every legitimate question. If I don't know the answer, I will contact the management and get the answer. Alternatively, if you have questions you don't want publicly displayed, you can always email me directly at editor@otcjournal.com. If you submit a comment or question, it will not appear on the site until I have responded.

To use the BLOG, simply go to the home page at www.otcjournal.com - the BLOG scrolls down from the upper right hand corner. The most current journal entries appear on the right hand side of you screen. Check back frequently for updates particularly when stocks are moving to overbought or oversold levels in volatile markets.
 

The Big Trade For Next Week: RIMM

I believe I have identified a really exciting trading opportunity for next week, and I want everyone to get the heads up ahead of time in the event you like the idea and want to position yourself.

Research In Motion (NASDAQ: RIMM)- makers of the widely used Blackberry (I used to have one, but I like the iPhone better) is setting up for a great trade in my view.

Here's the current chart.

Two big consumer tech names have been trading really well of late: Apple (NASDAQ: AAPL- darn it, I missed the bottom), and Research In Motion (NASDAQ: RIMM).

As you can see from the chart, RIMM has made a big comeback of late, rebounding from about $80 during the January low back to the $120 level this past week. It has been particularly strong this past week.

RIMM is announcing year end earnings after the close this coming Wednesday, and the financial media is buzzing about robust results and earnings doubling to $401 million, or $.71 per share.

This is a pattern I have seen time and time again over the years. When a stock runs up into a big earnings release, good or bad, it nearly always sells off after the fact.

If RIMM continues trading up into the event post close on Wednesday, I am going to take a fairly substantial short position by either shorting the stock or buying puts before the earnings are announced. Perhaps I'll do both.

This is certainly risky, and definitely not a suitable use of your "safe" money. However, I like the odds if RIMM keeps moving up the charts.

Here's what will happen. If the company delivers any sort of disappointment on any front, the stock will absolutely get killed. If the company delivers the numbers as expected, the stock will go down. If the company absolutely blows away the "whisper" number, the stock will trade up briefly, then probably give some ground. This market is far from out of the woods, and RIMM's reward for stellar performance is already being priced in.

If it continues to trade up into Wednesday, I will definitely be taking a short position, and advise everyone via the BLOG.

Several followers have asked me to publish these short term ideas with email additions. It's not viable. It takes about 4 hours to get it out to everyone, and in a moving market its simply too long.

Check back frequently next week if you want to know what I suggest- which will mirror my own trades.
 

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