Folks, this is the kind of market that rewards bold, aggressive trading. Yes, it's how ironic that as little as a couple of weeks ago, we'd be hard to imagine carrying more than a few positions overnight. These days, you just have so many choices to add at the end of day. Good times are here it feels like. This is the kind of trading environment, the kind of participation and the kind of opportunistic crowd we'd been looking for. We have been very aggressive into this market last couple of days and more so today, largely due to the good actions we are seeing from the market and continued flow of new plays. There's really not much else you can say to describe this market. For those of us who have the luxury of playing every single play out there, don't take this for granted. Market movements like this only come a few times a year and we simply have to fully take advantage of this sort of action. Regardless the kind of plays you are in, whether it's DNDN, TSL, MTRX or GROW, the common feeling out there is that mood is good and plenty of money is chasing some hot names and we as traders, HAVE to deliver on our end.
Basically, it all sounds pretty simple when it comes to making a living as a full time trader. We try to make a killing when market is good and stay low key when the market is poor. This time around, there's no exception that we have to way outperform an average investor/trader. How do you stay ahead of the game in a good market? If you have limited capital to trade, the key is to stay in the hottest names and cut the laggards the minute. the momentum slows down. The reason for that is that since there's always a steady supply of good setups/new plays coming into the market on a daily basis, there's no reason to be hanging onto a laggard. This kind of tactics can be very stressful but nobody said being good in this game is a walk in the park. If you have somewhat of a big portfolio and more capital to trade like us, we'd simply play everything/anything that resembles a good setup. The key in this case is get a starter position in an play and add aggressively to those that have the higher momentum. Again, we cut laggards as often as we add new names to portfolio so the laggards do not drag down the overall performance after a while.
..here is some new action we are involved in today and some initiated last week...
TSL, in our opinion this is the only solar play that mattered today. Other solar plays may tried to give it a go but this is the only one that really shined. Remember last week there was a block for sale at $49.80 and stock backed down after it was revealed? Many of us are definitely eyeing it as the resistance/catalyst for a breakout. Once it was taken down, the rest is just history and we just had to follow through. It's looking great. Last week this was alert in the 46's, then add in 48's and today another alert around $50. BOOM..BOOM..BOOOM to 54's and almost 20% in a few days. Recently in the forum we said liked TSL better at that time because of the set up. There's no rule in this trading camp to how long we keep the 'one', the fave. Simply, if we like how you behave, we reward you with capital.
MTRX, we added a little of this one and we are actually pleasantly surprised by its follow through action today. When it came out with earning last quarter, its follow through action is nowhere near its action today. Again, action always speak louder than words and we just have to respect it when it comes to trading.
CIMT, this little one seemed to sat back in the classroom today cuz other kids have stolen the highlights. With us, we gave it extra attention by adding to our existing position. The key for this one is its 2.69 mill float. To highs this alert is over 20%, we like to think there is more to come.
USAP, nobody expected this one to gap over the weekend. We expected a new high in hours, just not in minutes, but nobody expected SCHN to come out with a rosy guidance either. NCH and potentially with other co. reporting good earning, this sector may be in vogue again as said last night. Right time, right place.
VIP, simply the idea repeated in last nights Journal has started to pay off as it traded to over $100.
USAT, if it was 3 weeks ago, this one might just close poorly and we'd stayed away from it. This says alot about the kind of trading environment we are in. This stock flat lined most of the day after the initial surge and last 10 min. showed why we have to go BOLD in this market. Speculative money is pouring into this market in force and we have to take advantage of it. The idea was to go after USAT, if the flat line didn't break down. It didn't and popped another $1 after alert in the last 3 minutes.
ISH, this is similar to USAT but with a better chart, minus the news. Why do we play these? Well, it'd be stupid not to. Probability is high that this one goes higher given today's volume/price action.
URZ, not to confuse with the gold play GRZ, this is the uranium play which we are putting on our watch list and got a starter position with. Chart is looking good and we are adding some flavour to the mix.
Others behaved well include NIHD OYOG WBD BW...