Waiting and Picking cherry one at a time...ANGN ($7.50), FNET
Monday, September 11, 2006 at 11:13AM 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,
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.
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.
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.
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 .