Okay, I sure ain’t The Doctor (who might say it like this), but if I were on his show as The Reaper then I would have to utter the line, “Just this once, everybody dies!”
OPTT – New contract announced, which is really just clarification and further information about an earlier announcement months ago. This did not gap up but gained strength throughout the day as day-traders got into the hot stock of the moment. It faded in the last hour. I like this as a short on red.
EMMS – Hmm, radio still doing fine. This chart looks nice for a long.Volume did not pick up until the afternoon.
Disclosure: No positions. I have a disclosure policy.
ACPW has news and is blowing through resistance in pre-market.
CHIO is showing some strength on no news, needs to break 1.75 or so to be a buy.
BMTI is blowing through resistance on news, could be a pre-market leader.
CNO has some news and consolidation on their chart, resistance around 6.30.
ziop, pkt, cno, mbhi, casm, acas, nsph, rgn, uec, ftbk, bmti also up big in pre
ZIOP is also blowing through resistance on news.
BMTI going to gap to 52 week highs
Momo buyers must have stayed home today, there were several nice setups that didn’t mature yet.
big gap ups scare the momos. i think you will find that momentum plays work most reliably in flat, choppy broader markets.
My theory is players get bored in those markets and tend to congregate in a few momo stocks.
btb, I was thinking the same thing, thanks for putting logic to my thought.
Damn, I missed OPTT short on red, that was a good call.
OPTT was a good call but a lot of people got squeezed. I am one of them :), but i think i did the right thing even though the stock is now at 7.15. The way i see it. The stock went red then went green and broke the morning high. Breaking the morning high was my stop loss if it didn’t break that i would have held. With the market up as much as it was I was afraid of a squeeze to 8.5 or so. I got out for -200.
Yeah, I made that comment after seeing the price down and not looking at the chart.
I would say you made a very good call sticking to your plan.
Annoying, that was. It was picture-perfect after that spike.
LEE might go red on the day.
Jamal — you imply the use of a modified time-stop. If the price action is unfavorable and/or the stock hits my mental stop, I get out. I don’t wait. I just get out.