Vringo (VRNG) Stock Swings 63% Since My Alert; What’s Next From Here?

By Jason Bond of JasonBondPicks.com

On Thursday May 24, 2012 I alerted my swing trade subscribers to Vringo (AMEX:VRNG) stock at $2.84 after I bought 10,000 shares. Within a few days I cashed in my chips for over $4,000 profit. The price has jumped from $2.84 to $4.63 in just 7 days since that alert and this is yet another example of a huge winner at Jason Bond Picks.

Now I’m going to be honest, it’s been terribly difficult lately to catch any momentum in a swing trade across several days with the S&P 500 having one of the worst Mays on record, but it does illustrate there are always a few winners to be had and I’m happy to share we were right on top of this one. We actually jumped back in at $3.70 recently but  weren’t able to capture the move to $4.63 before hitting a tight stop at $3.60 and losing $500 on 5,000 shares.

Keys to Vringo (AMEX:VRNG) moving higher still include a clean break of $4.50 resistance and sideways consolidation from there. If it chops out above $4 I’d be interested in another swing but right now it’s definitely getting heavy up top. Honestly my target on the initial swing was $4.20 and I was shocked to see it reach  up and test and break the $4.50 resistance after such a big move. I think retracement to $3.70 – $3.50′s would do the stock good and believe that’s where we’ll see bigger buyers come back in.

For anyone who wants to learn, keep in mind I know this stock very well and it was alerted to my subscribers on Sunday April 1, 2012 before the huge move sparked by an article on the Business Insider by James Altucher. Since then we’ve played it repeatedly. The most recent alert at $2.84 was a textbook near oversold reversal pattern at $2.55 just above the recent $2.47 low… which is around where Mark Cuban of the Dallas Mavericks announced taking a 7.4% stake in the company.

Keep in mind, Luke and the guys / gals in the day trade room have been crushing this trade too, not just the swing traders. For more ideas like VRNG at $2.84 7 days ago, make sure you’re on the BondSwingTrades and BondDayTrades list today. Note head moderator Luke runs the day trade room and is by far one of the best day traders you’ll ever meet.

Sold VRNG for $4,000 profit. Thanks! ~ Luke A.

$990 profit on VRNG, thanks Luke and JB ~ Joseph

Jason, took Luke’s alert this morning for VRNG and made $3,931 between my two accounts. What a morning with the overall market in the red… Love your service and Luke’s knowledge!!! ~ Tom

Out of VRNG @ $650 profit, thanks JB. It was tempting but had to pay myself . Thanks JB! ~ Raghu

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