Have eyes but cannot see

[TraverseTramp]

Today is 6/22. I was on AMTD and OPWV all day long. Each made the list of strong gainers for the day in "The Big Picture" column. As each stock made a new high, I kept shorting them, waiting for the turn. Got set back each time. How does a person tell when these things are running up that strong? I've got every indicator mentioned in all the books and still got ate up. Any advice from out there?
Later, Traverse Tramp

[Runner]

Glanced at AMTD, this stock clearly was not a short today. Not sure what you goals are or methods, but this thing was not even good for a short scalp. Also the daily closed at the peak. Sometimes volume can be a big help. Why fight the trend? Long is the trend on AMTD at least for now!

[IIC]

Today is 6/22. I was on AMTD and OPWV all day long. Each made the list of strong gainers for the day in "The Big Picture" column. As each stock made a new high, I kept shorting them, waiting for the turn. Got set back each time. How does a person tell when these things are running up that strong? I've got every indicator mentioned in all the books and still got ate up. Any advice from out there?
Later, Traverse Tramp

I just looked at the daily charts on those...Did not check for any news or anything further...But I have a question?...Why do those books tell you to short movers on volume?

Oh...they will both probably pull back...but how do you determine when? Timing is "EVERYTHING"

I am curious as to what those books were and what they said...Thanks, Doug(IIC)

[bknight]

Why short a stock that is a take over/buy out candidate? If they have agreed in principle with TD Waterhouse's bid, they will sell the company for the agreed price. The only bug is whether E-Trade will make a higher offer, thus driving the stock even higher. Don't short this one, move on and look for another candidate.

[mtm]

That dividend threw all TA out the window on AMTD. I was long RIMM yesterday at the very bottom and took a decent gain and wathced it run up like crazy then tried to short it at minor resistance. Lets just say that short was the wrong answer! Once I was stopped out of it. Bottom line here is don't think about shorting momentum plays, short the weak stocks.

Even though you think the prices are BS which they may be, you can't fight momentum!

[New-born baby]

GooG

That dividend threw all TA out the window on AMTD. I was long RIMM yesterday at the very bottom and took a decent gain and wathced it run up like crazy then tried to short it at minor resistance. Lets just say that short was the wrong answer! Once I was stopped out it fell like I wanted. Bottom line here is don't think about shorting momentum plays, short the weak stocks.

Even though you think the prices are BS which they may be, you can't fight momentum!

MTM,

Do you plan to short GooG anytime? I mean, the thing is way overvalued; there is no dividend to fight; the only real worry would be if the board decided to split the stock. But there will be a time GooG retraces--even CME retraced $60--so I'd like to know your thoughts.

[IIC]

That dividend threw all TA out the window on AMTD. I was long RIMM yesterday at the very bottom and took a decent gain and wathced it run up like crazy then tried to short it at minor resistance. Lets just say that short was the wrong answer! Once I was stopped out it fell like I wanted. Bottom line here is don't think about shorting momentum plays, short the weak stocks.

Even though you think the prices are BS which they may be, you can't fight momentum!

I whole-heartedly agree...go with the flow...IIC

[mtm]

Would I consider shorting GOOG? Absolutely not at this point in time!!! Will it split? Don't count on it!!! They set their presidence when they decided to do a dutch auction. If you don't own it from a lower price I would just forget about it for now.

Don't let the price fool you! It is cheaper than Yahoo for you have to consider the float.