Thursday, January 16, 2014

Down Day, But Action Under The Surface

Another day at roller coaster amusement park. This time the roller coaster went down, but there were
plenty of big upside movers that ignored the general market. I must say that in general, I have had my best days during the period after the first day or two rally by the major indexes. I think that in a decent market, that is when the institutions are done pushing the major indexes for the time being and the market broadens out. Not that I'm so sure that this is a dent market, mind you.

SRPT was one of the big upside movers that I bought pre market. A tweeted about it at 8AM and jumped on it right after when it took out its AM highs. I'm still holding it, believing that it can run up another 6 points or so before it hits resistance at the gap down point and 200 day moving average. SRPT got FDA advisory panel report. That is not the same as FDA approval which usually - but not always - follows. Anyway, this is a stock that was busted that may become whole again.



GILD is a biotech superstar which finally broke out of the base I had highlighted in an earlier post. Great company. A keeper.






CANN went ballistic again, but without me. Who would chase a thinly traded parabolic fad company that gaps up on no volume? They rented a head shop and own some land to grow pot on in Colorado. They have no earnings or revenues to speak of. Yet CANN is trading like it is the new born HD of pot.



ASPS went up again and I will sell it tomorrow.




RESI lost a tad on it today when they announced a secondary. Out. I also did not buy NQ back sine my price alert was not met. And I sold KNDI & because I am keeping tight stops.

Other stocks like AOL, TSLA & SCTY made big moves. Here is AOL. AOL probably has another bit to run, but I should have bought it on the breakout. I did not have my price alert set and paid for it by missing the trade. One of the keys to making money is doing my stock scans each night and setting my price alerts at break out points. Homework is key. Many stock setups that I post will not make it. But nothing ventured, nothing lost. I live for the ones that do alert me.





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