Skiracer's stock slopes

[skiracer]

Watching ACOR right here for a possible short play. Seems to be stalling out similar to last Friday. No other plays yet today. Watching MED but it doesn't seem to know what it wants to do today. So I'll wait it out until I see some stronger indication of direction.

Shorted ACOR at 16.55. Nothing on MED yet.
Placed a stop at breakeven at my entry of 16.55. I'm going to let it ride out to see what happens.

[Lyehopper]

Shorted ACOR at 16.55. Nothing on MED yet.
Placed a stop at breakeven at my entry of 16.55. I'm going to let it ride out to see what happens.

Hey Ed,

I think SHOO is lookin' like a good (quick) short play right now ($41.76)... I almost played it short in the POTW this week.

[skiracer]

Shorted ACOR at 16.55. Nothing on MED yet.
Placed a stop at breakeven at my entry of 16.55. I'm going to let it ride out to see what happens.

No cigar. Stopped out at breakeven. Nothing ventured nothing gained.
Lye,
Maybe not. Did you make the play? Would have been nice to get it right off the bat this morning.

[Lyehopper]

No cigar. Stopped out at breakeven. Nothing ventured nothing gained.
Lye,
Maybe not. Did you make the play? Would have been nice to get it right off the bat this morning.

I just shorted SHOO @$41.83.... I have set no stops.

[skiracer]

I just shorted SHOO @$41.83.... I have set no stops.

Well you're up .03. I just took a look at it's daily. What a beautiful chart and uptrend. I like your play and would place a stop around 41/41.25. I think the drop will come tomorrow to around somewhere between 40 and 41. 40 would be real nice. Please place a stop around 42.25 or anywhere but put one in place.

[skiracer]

I edited the watchlist and deleted the low volume stocks from it. They come up in some of the scans because I don't use volume in some of them. I usually try to limit my plays to stocks that have an average daily volume of at least 300,000. Although I like volitaility in a stock, because it means that the stock is at least getting some play, the lower volume ones can be dangerous in that it doesn't take much to really move them and you can get stopped out rather easily on one trade sometimes. I'm going to list them anyway in case anyone wants to take a look at them. Low volume doesn't necessarily mean they aren't decent stocks. Here are the ones that I removed: ACLS, APLX, CAMT, CPSS, EFJI, EXFO, and HTGC. Good luck if you use them.
I made a short play on ACOR this morning and I thought I had caught it right at the point where it was stalling again like last Friday. In at 16.55 and set a stop at 16.55 or breakeven. It dropped really good to about 16.25 in no time at all and them reversed on me an I got stopped out. No sooner than I'm stopped out it drops again and this time holds to close at 15.50. It would have been a nice play but I was just a little to early to the party. I could have re-entered but I don't like to chase them after the first play. MED dorked around all day and I never felt comfortable with the play and didn't pull the trigger. Still like the play to at least 11 and will continue to stalk tomorrow. Probably should have bought it at 9.50 but it just wasn't showing the force I like to see. It closed up .27 on the day at 9.71 or .01 above my exit at 9.70 on Friday. I'm looking at LIOX real close right now and will take a position at 8. It's been knocking at the door for a few days now and I think it is getting ready to go off. I'll post a chart on it with my thoughts later. I was going to take KLIC off the list this week but looking at the daily I still think there is something there worthwhile. I'm stalking it for an entry if it holds over 9. That was my original plan with the stock when it first came on the list. It closed today right on the money at 9. Here's the edited list for this week.

[skiracer]

Two beautiful moves in MED and SMSI. Anyone been watching these or get a chance to play them?

[IIC]

Two beautiful moves in MED and SMSI. Anyone been watching these or get a chance to play them?

I have...also GIGM and KNOT...but no trading right now

[skiracer]

I have...also GIGM and KNOT...but no trading right now

I had meetings and had to be away from the screens for most of the morning. Getting ready to start the underground utilities on the big site today. Big project and took me from maybe catching the move in MED or SMSI. I was hoping someone else maybe would have gotten in on either of them. I can't believe that I didn't get a part of either one of them, especially MED, after talking so much about it.

[peanuts]

...I can't believe that I didn't get a part of either one of them, especially MED, after talking so much about it.

Quit soliticing bad advice and start listening to your gut

I wish I would have told you to buy it It looks like it wants to start testing levels of price resistance

[skiracer]

Quit soliticing bad advice and start listening to your gut

I wish I would have told you to buy it It looks like it wants to start testing levels of price resistance

No it wasn't that I was indecisive but that I was at those meetings with the engineer, site contr., and my principles to go over some changes to the drawings and plans. It took from around 9 am or so to just about 30/40 mins. ago. I just wasn't at the screens and didn't know what they had done until I got back to my trailer. I would have been in MED for sure. I'm getting ready to buy it right here at somewhere between 10.00 and 10.08.

[skiracer]

I'm in MED at 10.10. No other plays today.

[Tatnic]

Two beautiful moves in MED and SMSI. Anyone been watching these or get a chance to play them?

have had smsi a while...suffering with the volatility. I've heard its one to put away for a while and not worry about it, but that's easier said than done. They got hammered on their last annoucement, quite rudely in fact.

I had expected med to consolidate longer and so I was surprised to see such a strong bounce. I nibbled a little in the mid 9's but expect that it could just as easily retrench before starting a new uptrend (assuming it does). I base this on the weekly charts and they tell me that the stock may need more time before it settles down.

[skiracer]

have had smsi a while...suffering with the volatility. I've heard its one to put away for a while and not worry about it, but that's easier said than done. They got hammered on their last annoucement, quite rudely in fact.

I had expected med to consolidate longer and so I was surprised to see such a strong bounce. I nibbled a little in the mid 9's but expect that it could just as easily retrench before starting a new uptrend (assuming it does). I base this on the weekly charts and they tell me that the stock may need more time before it settles down.

Tatnic,
I glad your in there in the mid 9 range. I should have been in much earlier than I am. Entered today at 10.10. I love catching them making the right side of their cup, which I have probably mentioned hundreds of times here, and being in for that ride. When the circumstances are right this is a great place for an entry just off the bottom. This may sound nuts but I don't see why the stock cannot reach previous levels. I have an interesting article that I will post later on regarding MED. Great that you are in at that level.

[skiracer]

Made one play today. Bought MED at 10.10. Missed an opportunity with SMSI which gained 1.34 today. Can't really say that I would have had it anyway as it wasn't one that I was really looking at closely. I'm stalking ECOL, KLIC, and LIOX very closely for entries from this point or their close today. ECOL and MED's dailies are very similiar charts. Making the right side of their cups. One of these days I'm going to do a percentage calculation to figure how many of stocks in this type of chart pattern continue making the right side of their chart up to the level where they match the left side of the cup.
KLIC and LIOX are both tightening after their handles and are forming small symetrical triangle patterns. I like them both a whole lot and will post a chart on ECOL, KLIC, and LIOX with my thoughts on their charts. Here is the list with todays closes: Here's a real coincidence. I bought MED today, 10/10 at 10.10. Just an observation that I just now realized.