This was sent early AM to TIMalert subscribers:
Great, great day yesterday, my Vegas seminar went great with nearly 20 people watching and learning as the markets got ripped…still some potential shorts out there:
CNWI had a good reversal off its spam-related strength, just wasn’t up enough for me though
HZO is a double off its lows, had a big morning spike and drop and then went sideways…support is clearly at $2.50, I might look to short if it breaks that.
BTIM is now down off its highs, lets see if it can consolidate near its highs which would signal further strength or if this this is gonna be a double top.
SNMX just keeps going up gradually, too choppy for me, but I watch for a potential short in case this incline gets too steep
STXS is the one I’m short 3,000 shares overnight, up $600ish so far, perfect afternoon fade, nice crack of the day lows, first red day in the chart pattern, still early, me want to cover today in the $3 range…will $3 hold? I’ll look to cover above or below depending on price action around there.
PERY dropped 20%, let this be a lesson to me and you, in this market, there’s really NO need to take profits so quickly, sometimes the longer you hold a stock short, the better. Bargain basement prices my butt, it’s all in the chart patterns and for those you need to learn your history!
PLG is a double off its 80 cents lows, I’d say its my top potential short today, but it has a poor history of fading after spikes..still watching it though
RMTI tried to fade before spiking into the market close…earnings play act differently people!
IDMI could fill the gap below $2.25, tried twice yesterday, I might short a bit if it does succeed as it could be an easy 25-50 cents/share of downside here…it’s a weird one though
If you guys don’t understand my language/concepts, I highly recommend you check out my instructional DVDS…it’s just stupid to try to trade a strategy you don’t fully get as I assure you the cost of making a trading mistake will be far greater than the cost of a $300 DVD!
