Targeting the easy..
Tuesday, October 24, 2006 at 06:20PM It's definitely easier said than done. What we are trying to do here at DJIM is to constantly find plays that we identify as being the easy plays. Those are the kind of plays which according to our past experience, have the best probability to go up. Of course, it doesn't necessarily mean that our plays aren't risky. Take ACOR for example, we noticed the morning upgrade and decided that it has a good chance of going higher if its opening isn't too outrageous. We got that and it was a good play. Had we held on till the close, this is back to square one and you can literally write off that upgrade effect because it was in the bag. The point is, use the opportunity to your advantage and trade according to the trading rules, as oppose to any other sentimental rules. **CLICK ON HIGHLIGHTED GREEN to enter Chat
 |
RIMM, this one was noted awhile ago on its earning day and so far it's gotten close to 20%. This is an exception to what we normally trade but this stock always occupy that special feeling to those who were once trading it on the Toronto stock exchange back in the days. The break out looks good today.
MR, at last! We just have one question about this one, "what took it so long?" In any case, even though the stock is enjoying some nice gains, we still need to trade according to the action and letting some go when action stalls.
BTJ, de ja vu? The earning reaction looks powerful today and we really don't need to refresh readers what this thing is capable of.
Past BTJ posts http://djmarkets.squarespace.com/dj-journal-archive/
BVX, pennant b/o, thick zone or whatever you want to call it. The fact is that it closed at the high and higher than the recent high, it's an automatic buy for us again even if this not one of our favorites right now. We have said numerous times what we were looking for since the recent run up, today we got that with volume and a good close.
TRT, we bought a little of this one. We have a feeling that this one may have seen the low. This doesn't necessarily mean that it's going right back to old high. It definitely needs some more work and if the inside selling stops , we may just have a chance.
EDU, possibly the Motley effect is eroding... we bot little to keep an eye on further development. APH as well off the 9ema. AZZ looking pretty good on the chart.
Off our market chat, a few nice stocks put up by fellow traders..
SILC, this stock is also worth keeping an eye on. Earning may not be awesome but action suggests it can go higher. MTOX, this is one of those stocks that we aren't initially sure that it can attract momentum or not. Today it proved that it can and we are in some . ILMN, this is a possible b/o that may get some follow through the next few days.
Yesterday we talked about a power move to/at 114 for RIMM.
That's a pogo stick you want to jump on when you see the volume kick in.
ACOR-APH-AZZ-BVX-CETV-CPY-DIVX-LCC-RIMM-TRT and BTJ