After the Minute
Tuesday, August 29, 2006 at 04:54PM what started as a typical dismal Aug. day during the last week of the month turned out to be very exciting toward the end. Of course, you still wouldn't feel it unless you are trading our kind of small caps.
BTJ, once again it's on my top watch list and also the first thing I wanted to talk about. All I want to say is that you are gonna wish that you bought some shares earlier today. I started dipping some earlier today and got more progressively as its action turned from so so to fantasitic. Maybe this stock will eventually crash down or burn in flame like IFO or ERS, but for now, momentum rules and you have got to hammer this one as it gets hotter and hotter. In fact, most of my trading gains come from plays like this. The point is, when a stock like BTJ has this kind of liquidity, the momentum and everything else which makes a great small cap winner, you just have to go all out and put all your effort, capital, and focus into it. Of course, I don't have to take this much risk now and even though I'm playing BTJ with less than 10% of my equity, it can still count for substantial gain when I play it right.
FTEK, would you look at that flag? This is a typical break out scenario which we've played many many times before. However, it never gets old.
NEU, I thought this is the second best setup next to BTJ. It is very volatile for a $60 stock but when you get it right, the reward outweighs the agony tremendously. Blacktruck has had some very nice chart + timing attached on this stock and I'd suggest anyone go check it out. I'm long a few today but will add aggressively the second it takes out $63.
aside from the above three which I thought were the best setups on my screen, others include UIC IAAC PWEI IPSU ANST HURC all closed near the top of their range today and I believe they all have the potential to get some carry through tomorrow.