Watchlist for October 14th: Just this once, everybody dies!

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.

optt

optt

EMMS – Hmm, radio still doing fine. This chart looks nice for a long.Volume did not pick up until the afternoon.

emms

Disclosure: No positions. I have a disclosure policy.

17 thoughts on “Watchlist for October 14th: Just this once, everybody dies!”

  1. 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.

  2. 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.

  3. 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.

  4. 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.

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