This looks like it is gathering strength, I am considering a long on a move over 54, or a more aggresive entry on the first thrust upward after this pullback - tomorrow if that happens the trigger would be 52.70, just over today's high. The 50 dma is approaching a crossover point of the 200 dma, which may gather greater long interest if the crossover occurs. This has had a fair amount of time since the summer selloff to mend.
I had a short sell order on the yesterday at 24.2, I thought it might get into the gap. It topped at 23.90 and continued down today. It looks like this one is going to sell off at least to 20 but I will wait for a little bounce before trying again.
Our old friend from the heyday. Anyone remember this? Used to trade on the Naz and was wild. This made some traders rich and busted some others out - in a day. Getting some action lately but its more orderly today. That horizontal line is the October 2002 high, and if it breaks that it will be at 3 year highs. THe monthly chart shows a nice basing pattern so I will post it next
Sold TASR 68.8 +4.10 Sold CACS 12.42 + 1.57 Let too much % profit slip on this. Entered OVTI 60.80 Stopped out 60.14 Entered NVLS 43.15 Stopped out 42.70 Entered NVEC at the end of the day 46.40 SOld afterhours 49.9 + 3.5. Lucky - news came out AH. THey got a 1/2 million contract from the DOD but its worth 10 million to their market cap, lol. Short ERES 38 stop at 40.4 Long GPRO 31.50 stop at 29.9 Long DKS 48.10 - haven't put in the stop order yet, still considering it.
The Fallacy of hope: "All who have dealt in the market, even to a limited extent, realize how hard it is to overcome certain stubbornness of belief when we have commitments. Within us we know that we have a very slim chance of being right, and still we persist in magnifying the things in our favor and minimizing those which are not. We see some people who, the more uncertain they get, the more vociferously assertive they become in the certainty of their position. They are keeping up their courage with their voice, like the boy who whistled when he passed the graveyard on his way home at night. Needless to say this is all useless. The market cannot be overcome by our will-power, but must be followed, or rather foreseen, by our reasoning powers. We must not blind or clog up our reason with our commitments." Joseph Kerr, Jr.
Friday's trades: Covered ERES 36.90 + 1.10 Sold GPRO 32.50 +1 Current positions and status: Long IMOS @8.38 -1.3 stop 6.90 Long DKS @ 48.15 +.91 Long APPX @31.95 +.67 I will post a p&l for the past week in the next day or so.
Sold APPX 36.49 + 4.54. At pivot-resistance on C&H. WIll go long again if it clears this hurdle. Entered long NVEC 49.95, failed at 50 this morning, then when it was a making a charge at it again I bought in two lots one at 49.7 and at 50.20 after breaking R. Long NTES 46.25. Wanted it after 45, was late. Long SGMA 26.7 FLML may be turning, worth watching.