Skiracer's stock slopes

[skiracer]

I'm adding LIOX to the close long watchlist. Looking for an entry above $8 this morning. No time right now to post a chart but later I will. Not before 10 am and has to be above $8 and holding.

[peanuts]

SONS trade

Great play on the SONS! I think you got out at the right time. 25% is $$$HUUUUUGE$$$

[skiracer]

Thanks Peanuts. It was beginning to give me the feeling it was going to stall. I had been in it a while. Better to move on. There are so many opportunities for other setups either way. I had posted on LIOX the other day and am looking for an entry at $8 or above. I didn't have time to post a chart yet. Another one I am looking at to breakout is AMBD. Another one I have to post a chart on. But look at the weekly. Nice cup and handle formation and looking ready to breakout. I'm buying at $15.25 this morning after 10 am. Good luck and thanks for the affirmation. You're right, everyone feels good when they get it.

[peanuts]

... SWHC turned out to be a better long than short. I still believe the stock will consolidate at this range and what I liked from the short perspective was that it closed off the high of the day. I'm keeping it on my short watchlist for the time being. Peanuts had the play down with yesterdays call in his thread but no cigar because he didn't make the play. They only count when you own them

I just shorted SWHC at $12.83

[skiracer]

Exited NITE @ $ 18.00: entry: $17.81 gain: + .19 /.01 %
Exited TRAD @ $15.75: entry: $14.81 gain: + . 94 / 6.3 %

Open Positions:
HSOA: entry: $5.40
ABMD: entry: $15.25

Small gains on both but no cigar really. Was in both trades longer than I wanted to be but have had enough of both today. This brings my active positions down to HSOA which reaffirmed my feelings about the stock this afternoon when it came back to close just below .04 it's close yesterday on higher than average volume but lower than yesterdays volume so even though is lost .04 today the day is not considered a distribution day. I still like the chart.



I was watching ABMD for an entry today at $15.25 or above. I like to wait until at least 10 am before I make a buy just to see if any gaps up or down will hold after the 1st half hour of trading. There are times where this practice puts my entry at a little higher price than what I would like to get in at but it saves my butt alot more times by keeping me out of making the trade to early and having it reverse on my or just pullback again to the pre-gap price at the open and I end up getting it at what I wanted to in the first place instead of paying the gapped up price. It pays to wait because many times gaps up or down will return to the previous days closing price after the first hour or so. Anyway it's a good practice and requires alot of self-discipline. I watched the action in the stock unfold this morning and all afternoon and didn't make the trade until late this afternoon. I'm in at $15.25 right where I was looking for this morning. Here's a weekly chart of ABMD and some thoughts on the trade.



I was also stalking LIOX this morning for an entry at $8 or above. Never got above my trigger point and the trade was never entered. Still keeping my eye on the stock and setup. Just might have to wait a until tomorrow or beginning of next week. I've been watching this stock for a few weeks as it made the right side of it's cup but was so erratic in doing so that it never gave me what I was looking for or instilled enough confidence in it's track for me to make the play. Then it got into what I would call the handle phase and still was quite erratic until recently the chart has started to straighten out and here's the chart and how I see a few things within it.

[skiracer]

I just shorted SWHC at $12.83

I like the play and thought you hit it at a good entry. I was thinking that it was topping off right around that level. I see that it is a few cents above your entry right now but I wouldn't worry and definitely would not exit. Place a stop just above $13 to protect the play and if you get stopped out then let it go and get it again tomorrow. I like it to the short side here an it is just a matter of time before it consolidates. I'll be looking for an entry myself tomorrow or maybe at the close today if it falters. But that was a nice entry and good thinking to follow it for a short at this level. Good luck.

[peanuts]

I just shorted SWHC at $12.83

Holding overnight, not skird

[skiracer]

Exited NITE @ $ 18.00: entry: $17.81 gain: + .19 /.01 %
Exited TRAD @ $15.75: entry: $14.81 gain: + . 94 / 6.3 %

Open Positions:
HSOA: entry: $5.40
ABMD: entry: $15.25

Small gains on both but no cigar really. Was in both trades longer than I wanted to be but have had enough of both today. This brings my active positions down to HSOA which reaffirmed my feelings about the stock this afternoon when it came back to close just below .04 it's close yesterday on higher than average volume but lower than yesterdays volume so even though is lost .04 today the day is not considered a distribution day. I still like the chart.



I was watching ABMD for an entry today at $15.25 or above. I like to wait until at least 10 am before I make a buy just to see if any gaps up or down will hold after the 1st half hour of trading. There are times where this practice puts my entry at a little higher price than what I would like to get in at but it saves my butt alot more times by keeping me out of making the trade to early and having it reverse on my or just pullback again to the pre-gap price at the open and I end up getting it at what I wanted to in the first place instead of paying the gapped up price. It pays to wait because many times gaps up or down will return to the previous days closing price after the first hour or so. Anyway it's a good practice and requires alot of self-discipline. I watched the action in the stock unfold this morning and all afternoon and didn't make the trade until late this afternoon. I'm in at $15.25 right where I was looking for this morning. Here's a weekly chart of ABMD and some thoughts on the trade.



I was also stalking LIOX this morning for an entry at $8 or above. Never got above my trigger point and the trade was never entered. Still keeping my eye on the stock and setup. Just might have to wait a until tomorrow or beginning of next week. I've been watching this stock for a few weeks as it made the right side of it's cup but was so erratic in doing so that it never gave me what I was looking for or instilled enough confidence in it's track for me to make the play. Then it got into what I would call the handle phase and still was quite erratic until recently the chart has started to straighten out and here's the chart and how I see a few things within it.

Sorry but I made a little mistake thinking I could edit an earlier post. Anyway got it straightened out.

[skiracer]

Two more that I am watching develope.
FRNT
LMIA
COGO: adding this one to the list. It's a Morpheus Trading pick and their entry was yesterday above $14.53. If it holds yesterdays close this morning after 10 am I'll take a position on the long side.

[peanuts]

Holding overnight, not skird

covered $12.30, got 53 cents/ share on SWHC short.

Today stinks, I don't even want to look at my computer!

[skiracer]

covered $12.30, got 53 cents/ share on SWHC short.

Today stinks, I don't even want to look at my computer!

I bought it at $12.75 this morning. I was watching it at the open and was glad to see it open below yesterdays close. I'm watching it real close though.
Another thing I like about Friday's with short positions taken Thursday afternoon or Friday morning is the week end psychological factor of people wanting their money out by the weekend. The feel safer with it in the bank I think. Anyway I've always thought it helps to drive the prices down for shorts on Friday afternoon. I going to try to wait it out for that to happen this afternoon.

[skiracer]

I'm placed a stop at $14.18 on ABMD. Physically placing the stop to guarantee that I honor my stop. I like the stock long but it's dropping and I'm insuring that I don't hold it any longer than my stop loss limit. I would hate myself later. I might have gotten a little early to the party. I will be holding until it stops out or reverses.

[skiracer]

I'm glad this week is over. Seemed like alot of work to get a little ways. Some changes to my watchlists and positions.

LIOX: I'm removing it from the list on Monday if it doesn't wake up. Just not performing the way I expected it to. I was looking for it to come out of that cup and first handle, on the daily, much stronger. Seems to be overextended at this point and stalling out.

ATHR: Another disappointment. Stalled right at it's 200 ma and now sitting right on it's 20 ema with the 50 right below the 20. I'm looking for the 20 and 50 to hold and for it to bouce off them to continue making it up that right side. If it fails to hold here then it's toast and might be a good short back to the $15 level.

HSOA: Ended the week giving back half of this weeks gains. Better up than down but still disappointing. Would loved to have seen it hold $6. I'm letting this go to even at $5.40 before I exit the trade. Still taking some consolation in today's drop on lower volume than yesterday wasn't a distribution day. There have been several up days recently and had gotten to a recent high of $6.35 but not strong enough to hold it.

ABMD: I'm down .56 with the position. It pierced it's 20 ema and 20 ma today but closed above both of them. Todays low of the day was a lower low which I don't like to see. I placed a physical stop at $14.18. 7% below my entry. It either reverses and does what I was expecting or it gets stopped out at $14.18.

FRNT: I never make the play and it's off the list. It's been on a tear and may be extended and need to consolidate. Definitely showing signs of stalling over the last two days.

IRW: I was looking for a short with this stock but am dropping it from the list.

SWHC: Took it short this morning at $12.75. It got a little dead cat bounce at $12.25 and climbed back to close at $12.42. I still like it to drop to the $11.50 range. Remember this is only a normal and necessary pullback to consolidate recent gains in my opinion in a continuing uptrend. I'm holding and will let this go back to even at $12.75 before exiting.

This wasn't a bad week with a 25% gain in SONS, 6.3 % in TRAD, .01 % in NITE, and 1.6 % in SWHC.

2 open positions:

HSOA: long + .34
SWHC short +.33

These are only several of the trades that I made over the course of this past week. I'm trying to give a clear picture of how I go about my trading and all the facets included in that process just to exhibit a clearly defined discipline and planning strategy.

[billyjoe]

Ski,
Nice concise writeup. With SWHC can you tell us why you believe the uptrend will continue and the downturn is necessary and nothing to be alarmed with. Will you eventually be going long SWHC ? Thanks

--------billyjoe

[skiracer]

Ski,
Nice concise writeup. With SWHC can you tell us why you believe the uptrend will continue and the downturn is necessary and nothing to be alarmed with. Will you eventually be going long SWHC ? Thanks

--------billyjoe

Billyjoe,
Here is a daily chart on my feelings on the short side. I'm going to post a weekly here also to show what I think is the stock faltering at $13 level. Anyway the stock has clearly been in an uptrend. These last red candles on the daily and weekly are giving a signal that the uptrend is about to stop or is stalling. I like it as a shorting point because of what I have just said. This is normal and necessary. I don't know why but it's like taking a breather before you start climbing again. Would I play it long in the near term future. Yes I would if I could pinpoint the bottom of this drop I think is going to happen. But first it has to drop as I think it will. I see that first level of support at $11.50 range where it bottoms on the pullback and turns back up to continue the current uptrend after taking a breather. Strictly my interpretation of the chart at this point in the stocks cycle. But you have to go with your interpretation and what you believe will take place. This is why I advocate stops and the strict use of them. If you are wrong then you will only be wrong up to a specific extent. Here is a chart of the weekly. Just to show the current uptrend.