... recap of some trading opportunities today from DJIM list.
What we have here at DJIM is 3 sets of eyes interested in the same type of stock, helping each other and passing it on. Our strategies, techniques might be different in some respects but the goal is all the same.
IAAC was alerted to yesterday in MC as it came to its 9ema just underneath $22 with some force. The remark "BT get the charts out" is that after one sees the possible move coming another like BT can put up charts and give clear signs of where (R)esistance might come into play. Knowing where the R is essential when a stock takes off so you can act accordingly and hold onto your gains. In IAAC's case a couple of points. Last night BT pointed out $24 would have to be taken out with force. The force was not there and we had the perfect place to exit and look for another possible entry as BT was.
EDU- last night we talked of a possible bounce at $22, the original trade entry on EDU. Seems like it couldn't wait to bounce and gapped this morning. We did enter but like IAAC feel this is a chart trade for the moment. The EDU chart has the 50ma to consider, like IAAC you might want to exit if you do not see the force in taking this out. No fun hitting your head against a wall for too long.
TRT- adding yesterday was quite fruitful as is every opportunity where the weak hands decide to lose their shares of TRT at this point. Even today was a gift to some as it fell intraday. Like EDU, if you follow the DJIM you had yourself a nice 6-7% day. TRT opened under $10 and ripped to $11 in the morning.
SNCR- mentioned this one in MC today at 70K in volume. The edgy SNCR was in full bloom as someone came in to play with the bid later in the day but had no sellers. The volume which averaged 30K the past 3 days doubled after our mention to 150K. The day after we profiled SNCR this action caused a fast rise to over $11 on these shenanigans as the ask was chased by a 50K lot. Added some today to see what the fuss is about..maybe tomorrow we'll know. A opp for a quick trade seems to exist if thats your game, a possible longer term trade if the software game stays warm.Notice the quick move intraday and volume end of day.