Waiting and Picking cherry one at a time...ANGN ($7.50), FNET

Market is tough!   It's a fact and we already know that.   But since this is the only thing we enjoy doing for a living, we still have to make some sense out of it.  Lol      When it comes to this market, seeing is believing.   No matter what we think  how the scenario is going to play out, what the stock ACTUALLY does overrules any opinion we had or may have on a play.      Picture is worth a thousand words, as we often remind each other.    So, no arguing with the chart and moving on is a necessary habit when it comes to playing this market.

FNET, which was mentioned here on Friday, got the approval news for mobile gambling from Nevada state gaming control board.   This is a story stock which we had followed since its IPO day for those that read from our former home.   We are putting it back on the top trading list as we think this one will get some addional legs on the back of this news, if its history proved correctly.

ANGN, this one got some unthinkable boost after its earning report today.   We don't think this would get this kind of a reaction if it wasn't for the fact there's really just nothing else to play.    Earnings isn't spectacular but the reaction is nothing short of that.    We are treating this ANGN as a day trading candidate and are not holding any hope of seeing another double or any meaningful percentage gain from it.   Even if it does double, oh well and so be it but the main trading theme around this one would be very short term.

MFRI, it seems just about every small cap stock we played before gets recycled a couple times every couple of years.    Earning isn't too bad but more importantly the action is holding up.   We are putting this one back on the list too and will trade accordingly.

one last note on BTJ,  it's getting dragged down by sector and there's nothing we could or want to do about it,  along with ALY of course.    Keep an eye on BT's chart and it usually gives you a good clue when to avoid these kind of things.

cheers,

Update on Monday, September 11, 2006 at 12:48PM by Demi/ YourPersonalTrader

Never forget what sector your stock is in. The charts(ALY,BTJ, NEU) as BT pointed out were on the verge of falling off a cliff with any further downtick in the oils...3 weeks later these are just above our first alerts/list price. I'm sure the recycling program will kick in and we will be looking at these again.  The point of our list is well served by FNET today, if you didnt get in Friday, today was another opportunity to catch a nice entry. List it, watch it,watch the tape...etc...Stocks dont break volume records like FNET did friday without getting noticed. ANGN..how come it didnt get this action back in March when I listed it off earnings..;(. wonder if any of you have held this through to this day? Congrats if you did. I'm not sold on this gain but will be around as long as volume stays.

Update on Monday, September 11, 2006 at 08:24PM by Jon

Just a follow up!    The runup in FNET and ANGN today is nothing short of breathtaking.    Fortunately, it did not paralyze us from taking some off the table near the end.    Again, this is very automatic for us when it comes to playing fast movers.    Will these movers gap up and perform another runup tomorrow?  Who knows and we'll believe it when we see it.    Though you can't just retire off one or two of these kind of plays, but you can make a pretty good living trading these ones smartly.    Maybe the trading environment has changed somewhat since it's been a long while when a stock doubled in one day.   Hopefully this sets a stage that traders are willing to chase this kind of earnings movers and we might just be in business when earning season kicks in.   If you miss the runup, don't worry as there will be plenty of opportunities that'll come up and for as long as DJIM is up, you'll likely catch them early right here on this site.

Update on Monday, September 11, 2006 at 08:49PM by Demi/ YourPersonalTrader

Wake to overseas markets slashed, metals, oils gearing for 6th straight down and we end up squeezing the life out of two 3 MM floats in FNET,ANGN oblivious to the rest of the market. I know there is fear when a stock is up 80% but we're not gonna bring it up unless we think there is room for more. The price at post was 7.50's(80up), AH price has hit $9..that's another 20%. Again FNET was mentioned as it broke fridays high..post time was about $8.80, traded over $10... 10.25AH, thats another possible 15% on FNET. You could only squeeze so much.. Better education is the charts posted now after the DJIM runs, keeping sharp if the oil related ones turn than it is to have the FNET/ANGN charts done tonight.

Update on Tuesday, September 12, 2006 at 08:25AM by Demi/ YourPersonalTrader

Unbelievable.ANGN...took some more off 9.90premkt here....this is so in play it brings chills down my back remembering these 10k bids at 9.90's I've seen before .

Keeping Focused...

Even though it seems every low floater with better than average earning is getting played as if it's the next big thing, we still have to be focused and catch some real opportunities.     Stocks like ANGN RFIL FNET in our opionion are just runners.   When you catch them, great, if not, no biggie.     Here's some update on stocks we are trading today....

EDU,  what began as an accumulation/chart play for us turned into a spectacular show throughout the day and right to the end.   We like the story and its action and this is looking to be a beginning of a leg up.       The beauty about these IPOs, there's no resistance and we can literally ride it as high as it wants to.    It's a profitable Chinese IPO with a relatively low float that happens to trade on NYSE, and it has decent earnings growth, and any more fundamental research is redudant at this point.    Hopefully this one will do some wonder for us. 

http://djmarkets.squarespace.com/charts/eduisnew.jpg

GROW, they shook the tree and alot of players fell off.   Well you basically have to see it to believe that the play is not over.    We are not arguing about the earning quality here, just stating the fact that the action today and yesterday looks good for a long trade.

IAAC, as Demi mentioned before, the selling may be overdone due to the commodity selloff, we bought some and looking for a bounce.

other stocks looked strong today include ANST GRB WBD CETV ANGN...

Never dull in DJIM

Crazy action in SNCR, big bids came in...CPY getting attention and bot more this afternoon. CTCM another one we use for bounce is having a good day.

Update on Tuesday, September 19, 2006 at 06:09PM by Demi/ YourPersonalTrader

As we cap off our first month here at DJIM...our first ever listed stock hit the 25% benchmark we set in finding stocks. AMIE joins a few others we have introduced since August 20 for 25+% moves (BTJ, FNET,GROW, ANGN, EDU). Unfortunately AMIE did it when we were not playing favorites in this market and sold her off. This hurt me more than Jon as I like the crawlers more...but 25% is 25% via a momo run or a month long crawl!. I'm sure it will be picked up again shortly, but as we keep stressing take your points/profits and recycle.

SNCR if you bought early, you probably sold as it blew over $11. A bid of 43000 started chasing the stock up and it got filled big time much higher. Who knows what this was about?. Be careful.   GROW, we finished with for now after selling yesterday as well. SYX looks much better at the close today. CPY was getting swallowed up 43.50 area. TWLL held it together through a rough market and a Dgrade...not bad

Rational Behaviour..

We wish there's an easier way to explain market's action today.   Of course, if your account is under performing(in a relative sense) compare to the index, you are probably among the 99% of all traders out there.     What's really surprising us is not the reason why the index is up, but how it's been holding up in such a resilient way recently.      Here's a question, how would any of our stocks perform if the Dow is only up 50 pts and Naz up maybe just a few pts?   Our guess is that most of DJIM stocks would still end up closing where they did today.     Ok on to some stocks...

TRT, after 1 1/2 day of pullback, this one finally seemed to find its footing on its own.    Put it this way, one good rush can take out its old high.   This is a very low float stock and naturally the volatility comes in the same package whether you like it or not.   Give room to allow it to tilt either way but as long as the overall trend is up, you just have to act according to the overall theme.

RIMM, after a couple of days of consolidation, this one is finally moving on very healthy volume.    This one is more tied to the index than most of our small cap plays so it's prudent to track COMP while trading this one.

SYX, this one got a new closing high and is looking healthy.

possible setup for tomorrow  NGA IAAC ANGN CVLT

World Series..

If this market is a baseball world series, then DJIM stocks surely resemble the tigers, the mets.. etc.    Did we expect anything less from our stocks?  Nope! Lol    Ok joking aside, we are having one of the best days here since the inception of DJIM blog.   Just about every one of the stocks on our watchlist is doing a "hell ya"! 

TRT, our champ stock is delivering its promise today.   Now shouldn't people feel like loading it up on that last dip?  We are just glad that we did and it's paying off nicely.    Oh and don't forget, it never hurts to let some off the table.   We at DJIM let go some of our trading position to stay disciplined.

AZZ, it just doesn't take very long for a stock with its kind of earning/float to break out.   We added some and hopefully it keeps up till the end. The flag we pointed out yesterday got some wind to the upside nicely.

NGA catching a sympathy ride too.

SYX, as BT have pointed out, a big volume day may take this one out of a potential pullback.   So far it's on pace to get a big volume and we are trading it accordingly.

IAAC, textbook,   We added!. Yep, the refueling we discussed over the weekend gave it the go ahead to move on up.

CVLT, this one is also trying and we think if it gets a good close, it may get some legs.

ANGN, 10 dollar psychological mark is broken and we were adding on this potential break we discussed in DJIM #8.  The whole sector is basically on fire and no reason it should stop here.

Keep focused and trade accordingly to the action, this is about as good of a small cap action as you can get here.   We've said it not too long ago that this is where your most dedication, effort, energy, capital and focus are needed to make a good run out of this market.

RIMM- celebrating a little thanksgiving with us. A good one to fellow Canucks out there.

ACOR- we missed our AA meeting this weekend..ACOR Anonymous, but we sobered up quick this am and will wait it out now.