Skiracer's stock slopes

[skiracer]

I'm going to try to post these everyday that he, the swing trader from Briefing.com, gives some picks and how they are doing. Some he enters an others don't trigger for whatever reasons. The best thing here, if your strategys are short term trading (swing) are the charts an his analysis. By seeing his take and why he feels that way will over time provide a great education in charting and T/A by a pro. By keeping a loose track of his picks will provide a clear picture of specific setups an the ones that turn out the way he thinks they will and the ones that don't. Also provides a number of good picks to play but you must keep an eye on them to see if they setup the way he feels they will. This guy is good an I have made alot of money following his leads.
You guys are going to get them for nada. So use them as you please. Also should be good for some decent dialogue if you're of that mindset.

[Runner]

Hey ski, awesome stuff. I missed the entire day today but looks like this guy likes one I was eyeing last Friday. I had entry about 18.52. I’ll be keeping a close eye on AQNT tomorrow..

http://www.mrmarketishuge.com/showpost.php?p=22581&postcount=751

[skiracer]

Runner,
He's a pretty sharp guy. I like him because I can study his charts and learn and better understand the setups with his explanations.
I was looking at AQNT myself the other day after he mentioned it and then you posted on it. I kind of like it myself although didn't make the play.

[skiracer]

Boy talk about missing a great move. I placed a pretty close stop on the position I had in IBM last week mainly because I had 3.75 or so gains and wanted to protect them. I was right because the players took out their profits an it fell back to the 81 range stopping me out at 82.25 on the way.
But I should have kept a closer eye on it because I knew they were getting ready to report earnings and the prognosis was good. I missed the boat on this one. They report .08 over consensus and yesterday in the AH and this morning in the pre-market they are up almost 4 points. Bad for me for missing the boat but good because this should give the market a further boost as IBM is an integral part of the tech sector and that drives the markets. Today should be a good day for most stocks and we could see a nice bounce in the NASDAQ. Good trading.

[B.J]

Oh shoot, sorry Ski... here I was in the Portfolio thread congratulating you on IBM. Didn't realize you had sold.

[skiracer]

BJ,
Actually got stopped out at 82.25. Wasn't really paying attention to it after I was out of it. Knew the earnings were coming up but just wasn't paying attention. It's having a nice day so far.

[skiracer]

Today was a great day. You could have bought almost any bluechip and made a half point or more without any problem. All of this on IBM earning report after hours yesterday.

Also got stopped out of HTRN at 13.50 around 3.30 pm today. God I've been stopped out 3 times on this stock. 1 point gain realized this trip. Will be watching this one close for big pullback now. Earning on July 27 so they always seem to pullback just before the report for the big guys to shove all the little anxious guys out before earnings. I believe they are going to give a great report. Looking for a re-entry point once the dust settles after today. This will make alot of people very nervous so it could go a bit farther down.

[skiracer]

This comes across the wires first thing this AM and HTRN gaps up over 14 to start the day. Reaches 14.24 and what they give they take back because early in the PM this comes across the wires and it loses .70 in no time to close at 13.42 or so.



Here's a little ditty on ELN. It's amazing how news items will effect the intraday activity of a stock.

[B.J]

Ski, were you able to add to VPHM this morning? Got down to 10.14 (so my quote says).

[dmk112]

Ski, were you able to add to VPHM this morning? Got down to 10.14 (so my quote says).

Yea I saw that, I thought it was a misprint but then looked at the chart and it looks like it went down there for a second or two so if you had a limit order sitting at that price you may have got some cheap shares.

[skiracer]

I'm ending up with alot of these shares. No I didn't have any kind of a limit order in or anything but got back to the office at around 11/11:30 am and caught it right at the time it was recouping the gap down from this morning. I liked the way it was moving and bought 1000 shares at 11.80. Thought for sure it was going to go off. Then watched it turn and drop to 11.20 range. I bought another 1000 shares at 11.20 this afternoon. I now own 2500 shares at an average of 10.94. There goes my 3 point gain. I still believe the stock is good for 20 range although days like today test your mettle.

[skiracer]

Sold off the 2500 shares in VPHM today at 11.50/11.60 range for an average gain of .66. Decided to take take the small gain and see which way this thing is going to go.
Had high expectations on this stock but really not acting the way I thought it would. I'll be keeping a close eye on it for a re-entry.
Took a position in SIRI for a short term swing today in the after hours at 6.98. Agree with Spike's analysis on the ripe entry time. The coincidence of my liking the stock at this time and Spike's feelings about this point for an entry pushed me into the trade. Not looking for the world here but somewhere around the 7.75.8 range would be nice.

[B.J]

Ski, take it from someone who knows (because I've done it a lot too), but, IMO you broke just about every rule of averaging up in the book on VPHM. 2000 shares over 11 vs. 500 under 9; should be opposite. Plus, I'm not sure you were patient enough with your 11.80 buy. Far from support levels. It's easy to get excited on a rebound, but my experience is to either let it go, or buy a much smaller stake if you feel that good about it.

But, hey, you still profited on it! That alone merits praise.

Today was actually very bullish, except for the very weak volume. American Bulls actually claims a Morning Star. If there's another up day tomorrow on higher volume, I'll keep holding. Probably too late to buy any more right now.

I screwed up too. Slept at the wheel. If I had it to do all over again. I'd have looked at the gap and figured it was ripe to fill sooner or later. That's why it went down to 10.14 that day. BTW, I don't think it completely filled. If I did end up getting the low 10's buy, it probably would have been for about 1/3 of a stake and no more.

[B.J]

The last example of my buying poorly was on July 1. CMT hit a channel long off its low of 8.75. Well, you know what Spike says about those. The price was 9.25 by the time I saw it, so I jumped in. On the 5th, it corrected again, stopping me out, then going on to well over 11.

The fact that I didn't want no part of it today is neither here nor there

[skiracer]

BJ,
I liked the stock a whole lot and was anxious to get more of it but didn't really think it was going to pullback the way it did.
I came back to the office that afternoon just a little bit after it had reversed and was heading back up from the 10.14 low you mentioned. I never saw that low but when I looked at the 15 min. chart that afternoon I felt it was going to go off. I watched it go through 11.60 to 11.80 and bought the 1000 shares at 11.80. I wasn't thinking of the position as averaging up or down but just the position and trade from 11.80. It really surprised me when it reversed again from 11.80 and started back down. I bought the 2nd 1000 shares at 11.20 where it stopped for the day.
My feelings were that it was finished with the drop but was also wrong on that call. I wasn't thinking of cost averaging up or down but just getting back into the stock before it went off. It turned out to be a bad trade an a undisciplined one on top of it all from my handling of it the way I did. I was very lucky to escape the way I did with the gains I ended up with. One of the reasons I bailed on the position today was that I was feeling alittle out of control with the trade from what went on with it and just wanted to get out of it. It happens on occasion, not often, but occassionally an I hate it when I lose my focus and stray from my plan. Like I said, I lucked out with the bounce today an ended up in the black with the trade. I'm out of it now and intend to keep a close eye on it for re-entry.
My feelings about the re-entry are that regardless of the entry price the trade starts at that point and the target is from that point so if the stock is moving up and you get in at 12 and your target is 13.50 that is your new plan from the setup and whatever happenned before that is in the past and over and done with.
I have to be honest with the numbers and what I do and the trade did look to be pretty unreasonable and stupid on my part regardless of how it worked out today.