Skiracer's stock slopes

[Runner]

SKI bot F long 8.29 with 1R2.04

[skiracer]

I exited the long position in SMSI this morning at 18.45. Not sure what caused this sell-off. I haven't had a chance to look at Briefing.com today at all and haven't heard any news. Severe though.

[Gwhiz]

SKiracer, what's your opinion on HWCC at this point?

[skiracer]

SKiracer, what's your opinion on HWCC at this point?

I had such high hopes for HWCC. I exited the position this morning at 22.00. A loss of .60. I would like to watch it for awhile first to see what it wants to do. I don't like them when they act this way. I was looking for it to pullback on consolidating some gains but this is way past what I think is reasonable. I bought it at what I thought was a low for the day the other day and it was a top instead. My normal stop would have been 21.02 which is 7% but at 22 it is around 2.6%. No big.

[billyjoe]

Ski,
I don't move in and out of stocks like many of you guys so my portfolio action is pretty boring unless I have to make several quick exits. 5 stocks I now hold including 3 that aren't listed on this thread have current gains of 9.54%-14.68% and have been holding steady after earnings. If they were yours, what trailing stops would you put on them today? None have hit 20%, a point at which I'd seriously consider cashing in. Thanks

------------billyjoe

[skiracer]

Ski,
I don't move in and out of stocks like many of you guys so my portfolio action is pretty boring unless I have to make several quick exits. 5 stocks I now hold including 3 that aren't listed on this thread have current gains of 9.54%-14.68% and have been holding steady after earnings. If they were yours, what trailing stops would you put on them today? None have hit 20%, a point at which I'd seriously consider cashing in. Thanks

------------billyjoe

I just wrote a lengthy response to Billyjoe and I lost the post. Internet Explorer said that it couldn't find the page. It happened to me earlier in the same fashion. Anyone else experiencing this?

Billyjoe,
It becomes a matter of how much you want to protect. I would set the stop at 21.80 which is .60 or 25 % lower than a 12 % gain, right in the middle of your gains as stated, or 2.40 or a price today of 22.40 which is 12% higher than the 20 per share price I used as your entry price. I would adjust the stop up proportionally if the stock moved up and would leave the stop in place at 21.80 until the stop triggered if the stock moved down.

[skiracer]

Quite busy with a number of things going on. Sorry I'm late with this sheet. Some trading going on today with a number of positions exited and some new ones initiated. Some nice picks going on here. Here is the sheet for today:

[skiracer]

Took it on the chin with HWCC today. Had such high hopes for this position. Don't know what caused this and saw nothing on the newswires. Just someone unloading from lower levels. Still like the stock and this might provide an entry opportunity. Exited the position in SMSI this morning. This turned out to be a great trade and although I thought it would/could go higher it is all about protecting your gains and taking profits. KLIC is finally starting to make some noise. I like this stock and play and have been very patient with it. This is a great spot for an entry if anyone is looking at it. Here's the sheet on this watchlist for today:

[IIC]

Ski...I know you sold SMSI...But they announce after the close today...should be interesting

[skiracer]

Ski...I know you sold SMSI...But they announce after the close today...should be interesting

That was a primary reason for the decision to exit before even the stock started to fall. The 2.45 gain is nice on the number of shares I had.

[skiracer]

FMD may be getting ready to fall off a cliff. I won't do anything until at least 10 am but am stalking it closely for a short play. ACOR short is beginning to move down nicely.

[IIC]

FMD may be getting ready to fall off a cliff. I won't do anything until at least 10 am but am stalking it closely for a short play. ACOR short is beginning to move down nicely.

Hmm...FMD was the only stock in the IBD Top 10 that was up yesterday

[Websman]

Ski...

I bought...

MRVL @18.48

PACT @6.07

[skiracer]

Hmm...FMD was the only stock in the IBD Top 10 that was up yesterday

I missed it the first time this morning but I think it drops bigtime this afternoon if it doesn't break that neckline on the 15 min. intraday chart. The second drop is always more severe than the first in my opinion.

[skiracer]

I missed it the first time this morning but I think it drops bigtime this afternoon if it doesn't break that neckline on the 15 min. intraday chart. The second drop is always more severe than the first in my opinion.

I just shorted FMD at 67.35. I would place a stop at 67.75 or so on this play from here. I see 66 as viable.