Skiracer's stock slopes

[skiracer]

Good for you Ray. I'm still in the stalk mode waiting for that 21.26 breakout level. Ray you've got a nice gain going, are you watching it closely or have you placed a stop on it. It's showing strength but the market is up 151 so far today so that's carrying it along in it's rip tide to a large degree. Don't let those gains get away. You can always re-enter on any pullback.

[RL]

Thats just what I'm doing

Ski thanks for your concern I'm ready to get out If It starts down I felt today should have been a bigger move.

[skiracer]

Ray,
Lighter than average volume today by 6 million shares. Not so much a real concern but would have been nicer to see a big volume day to validate some strength. Just a suggestion, but you could bring a stop up to around Fridays close of $20.65/20.70 range and see what tomorrow will bring. Big day today for the markets an it would be nice if tomorrow was a follow thru day or a light down day on lower volume or you could just watch it closely and see what the open brings. I was happy to see it go like it did today. I really think it will challenge the $23/24 levels. If I were to get in at $21.26 an it hit $23 I would bring a stop up real close and be happy with the 1.84 gain if I were to get stopped out at around $23 but that's just my own feelings about it. If I do make the trade I would be buying a full position,1000 shares, so that would be $1800 or so. I'd by real happy with that an if I didn't get stopped out then whatever it runs up to would be that much extra. But one thing for sure is that I wouldn't let to much of those gains get away, not in these markets. Last week we had a triple digit gain one day and gave a triple digit loss back the next day so you can't rely on anything right now. Good luck. Glad it turned out the way it did.

[skiracer]

Here's another setup from Morpheus along with their weekly report on the market.





Here is the setup. It's a short and as the last one on MOT all the specifics are listed as having to be in place to trigger the trade. Please feel free to give your take on the play whether you agree or disagree with the setup. But the reasoning behind your feelings would be a prerequisite just as they have provided all the specifics for their logic.
If anyone is thinking of taking this trade I would advise on using the same triggers and stops as are listed otherwise you're on your own which you are anyway. Nothing is written in stone. If the trade triggers I will be in it and will post on whatever stop or trailing stops are set as the trade developes.


Just an update on a couple of positions that I've been holding recently:

PETS reported today an it was a very good report. Above estimates and revenues up over 50% qtr. over qtr. Stock was up $1.15 today on about 3 times average volume. The position is up 1.80 points from my entry on the stock. The Dec. 12.50 calls actually lost .05 today to close at .35. 89 contracts traded on the calls today which amazes me with the stock being up 1.15 and the options losing .05.

SNAK up .15 to close at $5.04. I lost a few cents on the original position first time around but am in now from $4.45/4.50 range. So the position is up approx. .50.

ABAX reported this afternoon an it was a stellar report. .06 above concensus. Stock closed today at $14.46. I'm in at $13.10. The stock was up 1.41 to 15.87 in the after hours so tomorrow could be a breakout day for it.
Not a bad day but the markets being up 169 points today didn't hurt anyone. But PETS and ABAX did exactly what I thought they would do with the earnings. Every dog deserves a bone now and then.

[RL]

Ski thanks for your take

I'm out of your league on the number of shares have 500 but after your talk of 21.26 I'm going to sell CBI and put It In mot at that time.However I think It can run to 25 to 26 ? but will sell on 12/15 no mater where It Is at. Thanks again Ski.

[Lyehopper]

Ski.... Thanks for ABAX dude!

Hey, didn't I turn you onto PETS?

BTW... I'm holding (Dougs pick) IRIS too.... looking nice right now what's your take on it?

[skiracer]

Lye,
I did pick up PETS from one of your posts an so far it has turned out to be a decent trade. I'm waiting for those calls to get moving. Stock was up real good today on big volume and the calls dropped .05. I'm feeling real good about the stock going up to the 12.50 range and the calls should follow the move up in the stocks price 57 days left in the calls so there is room yet.
It will be interesting to see what ABAX does in the morning. Glad you got on board. Poorman, from the IBD forum introduced me to a friend of his named Jim Schfield, who was the best fundamental investor I ever met, and he would pick a stock and buy it and hold it forever. He made a zillion in the markets and lived real good off the dividends he made on stocks he owned. He lived down in Texas near Dallas somewhere. Anyway he gave me Abaxis about 4 years ago an I made a really big score off it. He gave it to me around 10/11 area an I held it to around 19/20 so this is the second time around for me. I used to call him and email him on a pretty regular basis an one night I called him and there was no answer and for about a week or 10 days I kept calling him with no answer. Finally Poormans or someone called the police and they went in a he had been dead for awhile. He lived alone with no relatives. What a way to go. I don't know who got the money but there was alot of it.
I sent you that info. You never told me if you got it or not.

[skiracer]

I'm out of your league on the number of shares have 500 but after your talk of 21.26 I'm going to sell CBI and put It In mot at that time.However I think It can run to 25 to 26 ? but will sell on 12/15 no mater where It Is at. Thanks again Ski.

Ray,
I really like MOT and will definitely be in at 21.26 and do exactly as I said with the trade if it triggers at that, but please don't do anything on my sayso. If I'm in at 21.26 my first stop will be placed exactly at 7% or 19.77. That's absolutely for sure with me regardless of what Morpheus would set their stop at. They are a little more liberal than me. At 19.77 I'm risking 1.48 to make 2.00. That's a r/r of .74 which is high but that's the bottom line. The stock could go higher, like you're expecting to 25/26 range, which would be great and would lower the r/r considerably but I would be happy with 23.25 range. I've made alot of money with this outfit so I usually follow their lead but not without due dilligence on my part. I've said this before about this outfit. They have more losers than winners but they cut the losers off short and let the winners run out until they stall or get stopped out. That insures a winning %. Another thing with them is that they always take some off the table at some point in the trade, usually 40/50% after they have captured a certain amount of gains in the position. Sometimes I will do that and sometimes I'll let it ride but 99% of the time I will not let the gains go after I have them at a specific point in the trade. Today was a great day for the markets in general and tomorrow could easily be just the opposite. Good luck.

[Lyehopper]

Lye,
I did pick up PETS from one of your posts an so far it has turned out to be a decent trade. I'm waiting for those calls to get moving. Stock was up real good today on big volume and the calls dropped .05. I'm feeling real good about the stock going up to the 12.50 range and the calls should follow the move up in the stocks price 57 days left in the calls so there is room yet.
It will be interesting to see what ABAX does in the morning. Glad you got on board. Poorman, from the IBD forum introduced me to a friend of his named Jim Schfield, who was the best fundamental investor I ever met, and he would pick a stock and buy it and hold it forever. He made a zillion in the markets and lived real good off the dividends he made on stocks he owned. He lived down in Texas near Dallas somewhere. Anyway he gave me Abaxis about 4 years ago an I made a really big score off it. He gave it to me around 10/11 area an I held it to around 19/20 so this is the second time around for me. I used to call him and email him on a pretty regular basis an one night I called him and there was no answer and for about a week or 10 days I kept calling him with no answer. Finally Poormans or someone called the police and they went in a he had been dead for awhile. He lived alone with no relatives. What a way to go. I don't know who got the money but there was alot of it.
I sent you that info. You never told me if you got it or not.

Sorry Ski.... I got it dude, Thanks. I'll be sending you some return info soon. I'll give you a "heads up" when It's on the way.

Hey, Ski, how bout some thoughts on IRIS? I'm hot on that thing.

[skiracer]

Hey, didn't I turn you onto PETS?

BTW... I'm holding (Dougs pick) IRIS too.... looking nice right now what's your take on it?

I wish I was holding it after today. Here's what I think. Today was a great day for the markets and most stocks followed the market direction up. Tomorrow might be a different story so I would PROTECT my gains.
It was giving off a few signals but I don't think I would have caught this one although it had been mentioned and posted on several times recently. MSN Money had this on it which I just found when I was checking it out on their site. Glad you had it. Make sure you don't give it all back. I would also prepare myself for a pullback or consolidation of some sort as it is getting close to the upper channel line after todays gains. They don't continue up forever and you can always get back in after the pullback as it will continue the uptrend in normal fashion with alittle help from the markets which you got today. Remember 50% of them follow the market direction regardless of their fundamental strengths so you have to play it accordingly in my opinion.

[Runner]

Lye,
I did pick up PETS from one of your posts an so far it has turned out to be a decent trade. I'm waiting for those calls to get moving. Stock was up real good today on big volume and the calls dropped .05. I'm feeling real good about the stock going up to the 12.50 range and the calls should follow the move up in the stocks price 57 days left in the calls so there is room yet.
It will be interesting to see what ABAX does in the morning. Glad you got on board. Poorman, from the IBD forum introduced me to a friend of his named Jim Schfield, who was the best fundamental investor I ever met, and he would pick a stock and buy it and hold it forever. He made a zillion in the markets and lived real good off the dividends he made on stocks he owned. He lived down in Texas near Dallas somewhere. Anyway he gave me Abaxis about 4 years ago an I made a really big score off it. He gave it to me around 10/11 area an I held it to around 19/20 so this is the second time around for me. I used to call him and email him on a pretty regular basis an one night I called him and there was no answer and for about a week or 10 days I kept calling him with no answer. Finally Poormans or someone called the police and they went in a he had been dead for awhile. He lived alone with no relatives. What a way to go. I don't know who got the money but there was alot of it.
I sent you that info. You never told me if you got it or not.

Nice job on your holdings SKI. You’ve been rewarded nicely for your patience...

[skiracer]

Runner,
Boy these few positions have been an exercise in patience. Thanks for noticing that. I did believe in them though but there were times when they pushed me to the wall.

[spikefader]

...calls actually lost .05 today to close at .35. 89 contracts traded on the calls today which amazes me with the stock being up 1.15 and the options losing .05 ..

It amazed me the first time I witness such apparent insanity. It's inexplicable one might be forgiven for thinking. I've experienced the same nonsense and not profited from a good 10% drop in a low volume stock I held puts for. And of course the GOOG play where I profited extremely well, from no "when all is said and done" move in the stock price. Options are nuts.

But congrats on the bone Dog!

[skiracer]

Spike,
That's one apparent reason why I don't play with them to much. Never have done really well with them over the long run except to hedge a position and even then, like insurance, you pay, pay, pay, and then they don't pay you for the claim if you have one.
PETS and ABAX had really nice reports but I think a large part of yesterdays move up was on the new Fed. chief appointment. Be nice to see it hold and we get a follow thru on some volume but I really have my reservations. I'm going to be real cautious for the time being. But thanks. I felt like I was bleeding out there for awhile with these three but yesterday was like a qt. of blood.

[spikefader]

... Be nice to see it hold and we get a follow thru on some volume but I really have my reservations. ....

What I see anyway. Looks ready to rumble.