This market has been all over the Shorts lately. Unless, of course, that you were short DNDN. Ok, this is probably the last time we'd ever mention DNDN. The long and short of it is, the play is over and it's time to move on, regardless whether you are sitting on a loss or a overall profit from your previous trade leads here. It's the last trade that only matters, no averaging stuff to give yourself an excuse to hold on. We played it twice at DJIM, we doubt there will be a 3rd soon. . On to what matters, we basically had a great day. Fed meeting may provided a spin for this market in terms of volatility, but overall, most of the DJIM stocks that have showed strength last couple of days did extremely well today. This time around, and just like all the other time around, it's all about earnings here. To us, earning is the primary if not the only driving force of our strategy. Figuring out entry/exit points is one thing, but the ability to pick out outstanding earnings play with great momentum potential is the root of our approach. Hopefully, by the end of this earnings quarter, many of you would have a pretty good idea what we do here on a daily basis. Getting involved with the right group of traders that know what they are doing is one thing, trading to get more experienced is even more important.
Still...besides all the emails we get during the day, including, ' great call' for an NGA, LXU, FWLT recently which we thank you for. But, there are still 1/10 that we can't understand. If you follow into our stocks, why do you not exit and lock in nice gains when there to be had?. Greed?. Just today before the open, we received one on IDSA and what we think now "as I have not sold all?". Didn't we set out everything late last week and the potential for disappointment and other alerts, last being when the stock was $15.5 on Friday?. The other ironically from last night on DNDN..." might be $50 after approval..what you think"?.. OMG, its a speculative ticket 'short ride' every time we've mentioned it. We gave our exits dang it. OMG..to learn this member was holding 1k of DNDN later at 17+. We had a recent hold into GROW's earning as well from a long time member. ARGHHH!!.
Guys..sorry but maybe to see your mistakes in bright lights here will stop the insanity!!. We honestly care, especially after getting to know some of you over time.
It's tough to pick out the play to write about first since there are too many good ones... ok lets start with..
FWLT, earning sells the story and momentum pays the traders. By the time this thing moves over 7 or 8 points, there's not even any point going over the earning report anymore. Why you ask? Many traders may put the emphasis on the actually earing number, the quality of earning etc., what they often forget is that it's the collective action of those involved in TRADING this thing that makes the difference. For us, we had a feeling that this one has good number, but we needed confirmation from the "big boys" to confirm our feeling. When they go chase, we tag along! This was the premise behind the 2nd note on FWLT today. It went off like magic, you can see it gaining steam on every small pullback around $80-$81. We were so ready, hopefully we prepared you and you enjoyed the rocket launch from 80 to 88. It may sound surprisingly simple but it does take a lot of trading to get used to the idea of "your buy may very well give this stock a new high".
CROX, this is just inevitable. Provided that the market is rocking all around, we still think this one is going much higher. Read up on our notes here, hell use the new search available to you to find it;). In a way, this one reminds us of HANS in its prime days in some ways. We added some late around our 'juice ' alert and it finished beautifully with a nch in place.
NGA, it feels like this IBD100 listing is looking more and more like a done deal, based on its trading. With two days left till the end of the trading week, we think the downside is limited right here. Yes, a pullback is definitely possible tomorrow or even on Friday. In our opinion, any pullback should be bought.
LXU, again, we'd like to use our conservative approach and would like to see a pullback or consolidation around here after the stock climbed from out 18.70ish alert to nearly $21 today. To us, it never hurts to underestimate the potential of a run-up rather than overestimate it. What this does is that you are always setting yourself for good surprises. If this stock continues its leg up with strong volume, so be it and we'd just play along. However, we aren't buying it like the way we did when it was in the $18s, for now.
TRCR, don't let the big point gainers make you forget about the little guys. Your eyes may be glued to the FWLT of the trading world but the little ones can also make up for very nice gains if you time it right. We noticed the set-up yesterday and today's just the confirmation breakout. We added some and looking for more.
TRT, what may caused the strong action today may be the fact that people are looking for a change in IBD rating after its earning report. Yes, this IBD thing never gets old. lol We got a starter and will look closely for any further development. The report itself is nothing to write home about..not 30% worth of stamps. The first trades premkt were $19.50 up 25%, a little to expensive for our tastes and not something we'd chase till we see what regular trading hours bring. Finished up just over 30%. In the end FLWT which was up 7% premkt provided better upside as we thought it might in our pre-market note. Maybe not so much better % wise, but definitely safer and much more liquid to go big $ with momentum. You could not afford to chance and therefore do the sizes in TRT that you could have done with FWLT today. As traders this is primary consideration when wanting to go in 'super size me' lots.
There are quite a few recent stocks that made new highs today, we are trading. These recent mentions from Journal or via trading members in our forum include SPAN TNH HAYN SCHN RS FTK EDU We're still waiting on NTLS.
An incredible day from our DJIM stocks on a day the DOW +54 and the NASD +4.59. Who outperformed who?