Did anyone trade it today? I had a buy for it at 15.05. It didn't go that low What a bounce! 15.25 to 19.05. I would have been out at 16.25 or so. Nevertheless, congrats to those who had the balls and hung on. Trade Smart! Tony
How fortunate that all the mutual funds lugging huge underwater positions in this name caught a 30% move the last day of the month. Just shows the value of good fundamental research I guess.
I didn't know if they were gonna dump it or run it up, but when it broke 16 this am, I thought to myself man the specialist has to be long a ton of shares. My plan was to buy at 15.05 and let it go down to 14.78 before bailing out. I felt that a quick squeeze would be good for a point maybe 1.50. Between both TYC and QQQ I had my hands full today, so I didn't even look at another stock (I did look at MSFT, INTC, KLAC, AMAT just to confirm the QQQ move, but not to trade them). The reason I was looking at TYC today is because a friend of mine was telling me how badly the stock was being sold over the last week or two. Anyhow, I was amazed by the run TYC had today. My good discipline does make me miss trades. I didn't chase it up, because I had no plan that justified it. At 15.05, I thought the rewards were worthy of the risk.
I had a pretty good run with TYC yesterday. I went short at $17.10 ($17.11??) and covered at $15.80. I only wish I'd caught a piece of the end of day action. So my question is, what is the most likely senario for Wednesday's open (first hour). a) Gap up, followed by a decline (reverse). b) Gap up, and continue to run. c) Gap down, and reverse. d) gap down and follow through. e) straight up, no major gap. f) straight down with no major gap. It's never a good idea to try and anticipate a stock, but I'm trying to figure out how I will play TYC given different sets of price/volume action. Any thoughts?
Who knows? You forgot opens up flat, goes up, reverses, then reverses again then consolidates, or the converse etc. You outlined 6 reasonably possible scenarios and my head is spinning. TYC is event driven. Maybe you should wait for another news shock or jolt.