Looking Back..
Wednesday, September 6, 2006 at 11:07AM It's almost always that whenever we have a huge day, the market will tell you to "cool it" the very next day. It feels like this gig is getting too old. Lol! So locking in some profit and reducing some exposure yesterday has proven to be a prudent decision eh? We have to understand that the kind of stocks we are dealing here, though rewarding, can be very volatile. It means that stocks go up and down, so without taking some profit, you'd end up running around in circles. You definitely don't want to see your profit vaporize and back to square one knowing that you could've, or maybe should've done some proper selling. We are not upset that we didn't sell our entire position, but we are glad that we did sell enough to justify the early entry opportunity that were presented to us. Such is trading and we just have to learn our way through it. Conclusion? Sell when you can and buy when you have to! Now on to some stocks..
Without looking at indcies, you'd know mkt isn't so hot based on the action of your watchlist.
BTJ, this is probably the best you can ask for from a momentum stock given today's mkt. Catching some breath is fine and also fortunately for those who haven't had the opportunity to get in, today's not bad of a day.
IAAC GROW, I hate to say it but these two may have seen the short term top for now. With GROW's earning looming around corner, we wouldn't do much aggressive trading untill after their CC. IAAC seemed to pull back more than the others but it looks as though the pull back is relative to the streghth it exhibited last few days. As long as IAAC does not violate some major short term trend line, we can always look for reentry point next few days.
Demi/ YourPersonalTrader
Charts updated for Sept7 trading