Skiracer's stock slopes

[IIC]

Haven't been following this one closely, but if it was up alot in the eh trading and gapped up but fizzled within a half hour, that typically a good time to short. No hard and fast rules obviously.

It is a pretty crazy stock anyway although I was able to dt it for a quick 10% recently

[Tatnic]

Them bastards got me at 17. I'm out of the position at 17 and I'm not going to chase it.

with these types of stocks, always take a position that's hardly worth taking.

[Gwhiz]

skiracer, got into cpst @ 1.7088 this morning

[Runner]

Well not much work outdoors for me today. BLUD has now reached 2R and I will now place in a 16% profit retrace. This will be a hard stop at 25.31.

[Runner]

I guess my point was, to be aware of the relevant prior context for any apparent setup (but maybe your setup doesn't care about the intermediate past action of the stock, I don't know). I'm sure you want to be aware of any looming resistance that would possibly affect the behavior of a stock you're considering. A stock can be acting pretty well up until a given point, and it might turn out that "that point" is also an area of resistance from prior intermediate term action. You had been focusing on the near-term action of the stock coming out of a base, when in a larger context, that base might have been relatively insignificant. But what is "significant" about a stock's "context" depends totally on one's goal for the prospective position, I can understand that.

Sorry for coming across like I'm stepping on your toes back there. Maybe I missed what's going on in this part of Ski's thread. Regards. ...

Park, you raised a great point and sorry for my stupid comment.

[skiracer]

Park, you raised a great point and sorry for my stupid comment.

I love and respect you guys.

[billyjoe]

2 Hours ago analysts for Cowen & Co. reiterated their outperform rating on MOT and raised estimates. This might be good for a point.

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

Was wrong on this , down .71 today . They are announcing earnings tomorrow, two days earlier than expected . Most are expecting good news.

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

[billyjoe]

LRW is reporting earnings Thursday expected to be .47. This stock dropped 45% around May 1st , not due to bad earnings but the fact that earnings were increasing at a decreasing rate. Analysts said this was a result of the declining housing market. LRW is able to shift it's workforce quickly and is doing lots of work with commercial real estate builders that are in many cases booming in several areas of the country. Any number above estimates Thurs. should prove that LRW is gaining steam.

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

[skiracer]

Got stopped out of ACOR this morning right at the open. Placed the stop at 17 and got stopped out immediately. This stock doesn't seem like it wants to fall. I'm leaving it be. I'd bet there were a decent number of shorts that got stopped out at 17 this morning at the open. After a closer look at how the initial list performed today I condensed the list by a few stocks. Still holding all the open positions. All are still in the green but nothing to write home about today. ECOL looks like it is beginning to stall out some. I'm up 1.61 with the position and will be protecting the gains tomorrow with a stop around 21.50/21.60 level. Everything else stays the same. Cannot believe FMD. Up another .49 today but it is looking like it wants to rollover with that last candle on the daily today. I'll be stalking it for a short play tomorrow. I still love it to the short side. Just need to be patient for the time being. I'm pretty sure I'm going to be exiting ACLS tomorrow. My entry could have been better and it has been going straight up. It's in the overbought territory right now and is due for a pullback of some sort. Hardly any gain and I'm not going to take a loss with it. I'm letting KLIC, LIOX, and MED run. KLIC has subtly gained .50 without to much fanfare. No stops on any of them yet. I'm watching them on the screens all day and would be placing a stop if I wasn't there watching like I am able to. Here's todays list and sheet:

[skiracer]

ski,
sold GROW with a stop order at 30.00

Whiz,
Am I taking to much liberty in dropping the G? I thought the play in GROW was a decent position and looking at the daily was in a nice spot for a further run up. Not quite sure I understand your post. Did you exit the position on your own or did you place a stop at 30 and get stopped out. I see that you are in from 24.23. That's a very nice play. What was your logic in choosing today to place a stop and why 30. It opened at 30.09 and that was a pretty close stop from the open. I shouldn't talk as I did almost the same thing with my short in ACOR this morning except my .22 gain was alot less than what you had going with GROW. I'd like to hear your thoughts behind that stop if you would.

[skiracer]

As I said earlier, I'm only going to track the changes to the ports and not keep a running record of the daily price movememt. There were a couple of changes today and here they are:
1. GWhiz got stopped out of GROW at 30 apparently with a stop he placed. Great trade Whiz. Then he entered CPST at 1.708.
2. Runner added DRIV at 53.10 and took the QQQ short at 42.47.
3. I exited my ACOR short on my stop placed at my initial entry and breakeven at 17.
The sheet will reflect the changes in that the position will not be there anymore. I'm going to try to post the moves in some commentary as I did above so that anyone looking will read about the move first and then see the change in the sheet.

[skiracer]

Runner,
Could you give us something on your short play reasoning on the QQQQ's today. The daily looks like a perfect cup. Are you looking to grab a little bit on the handle move down if it does go that way?

[dmk112]

I need to run for the rest of the day. I took Q's short at 42.47.
1R=2.20

Trying to pick the top, eh? Good luck with it, it def needs a p/b but if the earings will be strong, it will keep on going.

[dmk112]

Runner, watch the double top on BLUD.

[dmk112]

Ski, I was wondering why you were shorting ACOR, any reasoning behind it?

It actually looks like a long to me if it comes down a bit more.

I picked up some NYX @ 73.70 and ININ @ 17