Friday, February 18, 2011

Update and Watch List for today...

UPDATE

As I had anticipated, neither $DBLE nor $KNKT followed through with the first hour or so and should have been exited promptly to free up capital.

Yesterday's watch list had three triggers: $SWS, $INPH and $CVV.

$SWS went red/green at about $5.80 and could have been bought here with a stop at $5.70. One had the option of either booking the quick profit in the $6.10 region or holding over night looking for the bigger move to $6.50 ish. Either can work but I prefer to remain liquid.

$CVV triggered about 15 mins into the trading session and grinded slowly higher to close up over 15%! As per my rules, "In addition, unless the stock triggers your stop loss or has moved so quickly that you can book profits in excess of 3 - 4 times risk in a few minutes then do not use up day trades!" had you taken this trade you should have held overnight and be looking now to book/lock in with a stop loss, profits in excess of 10X the planned risk this morning.


$INPH well this was a monster. This was an obvious long as it was printing very nicely to the bid with faster large prints as it broke out. You had to be quick with this one or else you entry would have been off the ideal $4.60 ish. This stock went on to close up nearly 35% although I recommended against by own rules to book much smaller profits at $5.50. I need to learn to follow my own rules when I start back trading live!!!


WATCH LIST







Also still like $IBIO for the break of $4.00 and $IVD for the break of $1.50. Good luck and good trading!



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