Mixed day that started out great and stayed ok but the end was a little painful. My overnight with PPO turned out well with a nice gain even after the stops I took yesterday. I had some other smaller trades because I was not getting any size on most of the entries until CML. I traded CML back and forth for much of the day and before I started taking stop losses was actually up about 250. The real interesting thing is that my new entry filter based on the old time frame gave me an entry and the new one did not until much later missing the first time frame by a few cents. I took the trade because the filter was meant to protect against large fast spikes which was not the case. Had I only used the new entry amounts I would have traded CML three times and all three times getting full target and ending flat with this stock. With that being said it was still considered a valid entry but once again I am holding overnight which I donât enjoy doing with a buyout rumor floating around. One would think I would be used to them by now. I covered some stock into the close to lower risk and reshorted some after the close. With a forward PE of 90+ a buyout would most likely need to find a company to pony up 100x or more which may happen but I think its much more likely that the stock falls tomorrow when it retraces. I was able to pick the top of OSK (34.15 ↑5.37%) with a B9 signal and ONXX (33.29 ↑13.46%) with a B9 NG was a gap up after B9 and worked out real well for such a small priced stock. Numbers include stops taken in afterhours via trading back and forth with CML at the time of the post. Still trying to trade CML CEU + 27 CML â 619 NG + 207 ONXX + 80 OSK + 51 PPO + 787 + 535
It was a very long but slow day. Not much of a surprise this morning with my overnight CML. It did open up and fall down but it didnââ¬â¢t down as far as I would have liked. CML has done this to me several times and they tend to compound each other. Like the want of a nail the shoe was lost. The want of a penny or two and I end up still in CML. I love the chart pattern and today was a bearish bar but donââ¬â¢t enjoy the thought of waking up to find out they have been given a take out offer way above the close. While it shouldnââ¬â¢t happen as the price is so high relative to normal valuations you need oxygen to buy it. Maybe the market picked up on the 90x forward earnings as CML was unable to stay above 34 for very long and when it did it fell back quickly. More of a short squeeze than real buying. KFY gave me a B9 short signal and the new entry confirmation once again gave me a lower number than the old one. Unlike CML not much would be different at the end of the day. But the difference is larger than I am comfortable with so I will be back at it trying to crunch the code to provide for a closer entry signal. I am carrying both stocks overnight and while I love the KFY overnight the CML will be covered tomorrow on any weakness. I have fewer CML shares that I am carrying over and my average price is about 40 cents a share higher. CML ââ¬â 600 - 600
Rumor mill buying: "Compellent Technologies Inc. (CML, $33.53, +$4.91, +17.16%) Chief Financial Officer Jack Judd has canceled an appearance scheduled for Wednesday at a Barclays conference. The company says the change was due to a scheduling conflict, but that didn't stop speculation that a big announcement is coming. For months investors have speculated that Compellent could become a target for Dell Inc. (DELL, $13.60, -$0.10, -0.73%) as the data-storage industry consolidates. Craig Hallum said that while Compellent is a viable target, it is unlikely a deal could come together so quickly that the company would have to cancel an appearance on such short notice." Holy cow, that is one insane P/E ratio!
RW, Often Iâve found myself doing something for no real reason â usually occurred when I had formed an opinionâ¦.. Not sure if it's applicable or not â just sharing Trade Well RN
"forming an opinion......." yup, that about sums it up for me in a nutshell Today was a good example of "not knowing, or I have no opinion" A guy in the chat room asked me what I thought of a stock. 9 times out of ten I dont have a valid signal working with any given stock so I say so and then I try to give my best guess based on TA. Now, I just say I don't have a signal and have no opinion as a way of just being in the habit of "not knowing when I don't know" Best to you and let me know if you ever want to join us in the room Robert
My short with CML paid off nicely today. I had it closed out and covered before the opening bell It came with a bit of a scare though. I saw that the tape started moving fast with trades at the same time the squawk box announced that dell was buying CML but I didnât catch the price and I thought at first that it was going to move much higher. I looked at the booktrader and the price was moving down. Somewhat slow at first and then really moved down quickly. I had some bids already out there and most of them where hit before I could remove them. I then waited until the price appeared to slow down and covered the rest. Basically one of those dream trades we all wish we could have everyday. The rest of the day turned out ok too. MIPS gave a double 10m overbought and I shorted it and it fell right away but not to target. It then spent the rest of the day moving higher. I scalped it back and forth but never really made much progress making gains. By the end of the day I was ready to hold overnight and I was near even with a small realized loss. In afterhours someone decided they wanted out right away and a bunch of bids I had near even. I also sold some more in after hours and it was pretty active in afterhours. Will hold and expect to cover tomorrow. GMCR was an afterhours trade that really never went anywhere. I tried to catch the falling knife and didnt get very far. LULU was an opening gap up fade. ARG + 231 news play based on the buyout offer of 70 CML + 6006 (its been a while since I made over 5K on a trade. Nice early Christmas gift) GMCR + 44 KFY â 34 LULU + 285 + 6548
Great way to end a good week. My overnight with MIPS didnât turn into a winner but I was able to walk away without getting beat up. KFY was covered for the most part until it started moving higher and then I reshorted and ended the day shorting into the close. Less shares and a higher average than before. Looking for a retrace on Monday. CYH was a beast and after getting a double 10m bar overbought signal that went triple it kept moving higher. I had a chance to cover near even and covered some shares and then it moved back to new highs putting a lot of heat on me. I had to start taking some stop losses and was underwater with it. I kept trading it and it finally broke down after giving a great B9 signal. Had I waited for the B9 it would have made a lot more. I did something I donât do often and that is short a stock when its already fallen far and fast along with being cheap. news hit the wire that GAP may file for BK as soon as this weekend. Having faded enough of these (LEH comes to mind) I looked up the financials on it quickly to try to get a sense of the value of the stock in BK and could not figure out a way it was worth over $1. Since it was trading at 1.90 ish I started shorting and actually put a fair amount of size relatively speaking. I scalped a bunch and covered some too soon but kept a lot for a cover around and near $1 per share. I wanted to hold longer over the weekend thinking the stock would crash to about 15 cents if they file but didnât want to try to grab everything when I had a nice gain in the hand. As it turns out GAP was halted and I would guess that the news they are going to announce is that they are filing. Either way I am out and can enjoy the gain. LULU is giving a pretty nice gap + 1 signal and the 70 DEC calls are decaying at 30 cents a day so I shorted some calls to cover Monday. NAK was a last hour B9 signal short that I took and almost received full target but covered on the way to target so even though I didnât get every last cent but did well with it. CYH + 118 GAP + 793 KFY + 3 MIPS + 14 NAK + 321 + 1252
Thank You for the invite RW â Iâm honored and humbledâ¦â¦ But I like being on my own â means Iâm beholding to / influenced by â no one Sincerely hope you understand Sir RN
I do and no worries. Consider it an open invitation if you should ever have a change in mind. Perhaps thats one of the biggest draws to this business. We can forge our own path and at any time go in our own direction even if just yesterday we were running with a pack. I know its one of the things I love about our profession. Happy Holidays to you and yours !! Robert
Slow and steady today. With the end of the year within grasp I took all my signals slow and conservative protecting gains. I had a bumpy year to be sure with a start that I will be glad to forget about but an ending that really is making the holiday season a lot more fun. I had a B7 signal today and while I could have doubled the size traded I took it slow and was careful not to put myself in a situation that may come back to bite me. Also the LULU overnight from Friday started out against me but I was able to fade the stock and the options and walk away with some nice gains. Again I was a little slower at trading it although I did start in premarket with the stock. I closed out the JCG short with calls that was going nowhere and I had a COCO offer that was lifted. I added back the COCO and still need to start ramping up my COCO holding. I have been waiting until I have time to write up my COCO report and post it. COCO + 2 JCG + 10 KFY â 36 LULU + 353 LULU Dec 70 c + 214 NIHD + 96 + 642