sure, it's usually based a lot on gut feel (I scan through a multitude of charts and get a "feeling" about certain ones). This most likely comes from experience and the amount of charts I have looked at, about 20-30 a day, for about a year. I'll try to nail down to specific aspects that appeal to me.
Not a *perfect* setup, but good enough for me, nice volatility. You should have been able to take 2% if you played it yesterday, good picking.
Filled SVVS on friday at 2.4, still liked my position at the end of the day so kept it overnight. Monday I didn't like the action to decided to exit at the closing price (2.16) on tuesday. Didn't get it and ended up having to sell at 2.05, taking a sizeable loss. It's all part of the game, what can I say, have to ignore the monetary losses and concentrate on continuing to trade in a disciplined manner. New pick tomorrow 2/24/04 Current Equity: $2,883.71 Starting Equity: $2,500.00 (1/1/04) Current Return: 15.35% 13 Winners/4 Losers Past Trades IONA 6.59% 1/2/04 GMAI 2.07% 1/5/04 SITI -4.24% 1/6/04 ARTX 2.22% 1/9/04 PHMD 2.45% 1/13/04 HEC 8.82% 1/21/04 CAU 2.04% 1/27/04 TWAV 2.08% 1/29/04 RTK 2.80% 1/30/04 DROOY 2.09% 2/4/04 CRIO 2.35% 2/5/04 GASE 2.48% 2/9/04 XEDA -1.60% 2/10/04 FMDAY 6.25% 2/12/04 CORV -6.16% 2/19/04 WBR 2.78% 2/19/04 SVVS -14.58% 2/24/04
Seems like you should have made the 2% friday on SVVS. I was watching it and it opened at 2.40 then quickly ticked up to 2.47. Maybe you did'nt get your sell limit in quick enough , assuming my quotes were correct .
I got nailed by SVVS too. Not much bounce on that one - it just hit and stuck like sh*t thrown against a wall! Can't win 'em all
CMGI is play tomorrow. I like the hammer, stairstep increasing volume, and test of 50/75 SMA. BUY 1237 shares of CMGI, CMGI, Inc. at LIMIT of 2.33
No fill there, tomorrow I try STEM. Increasing volume/range last 3 days and long lower wick today. Lim will be 1.91 (after hour action last price)