3SOF

My picks for today:

TMY It opened up at the gap of 3.5.
GTE. It accelerated today...

Any comments?

- Dhiraj

update:

MOTGE.ob - I like the feel of it today.. I may continue to hold over the weekend.  It has a nice pattern.  It feels like there is support there and all we need is some pr to get it cookin. 

ABTG - I decided that I wasn't willing to wait on it to develop and that I should free up cash so I let it go. -4% 

scanning but I doubt I'll find something before close 

I thought this complete look into my last trade might be interesting. 

Dissection of a Play

GNBT
---------------------The Setup-----------------------------------------------------------------
01. Avian flu is in the news, avian flu stocks are rising
02. Made a list of all the avian flu stocks I could find using google, boards and blogs.
03. Filtered the list to the only ones that I would trade. (10/14) this list was 7 stocks.
04. I put these 7 into my realtime watchlist and no other research was done.
05. Meanwhile some plays took off without me but I like to buy at my price.
---------------------The Buy----------------------------------------------------------------------
06. Early in the trading morning(10/18) I look at my watchlist for heavy volume.
07. GNBT is showing heavy volume and up in price a bit.
08. I look at the chart, just above the neckline of inverse H&S.
09. Lvl2 showing many trades, lots of action.
10. Make the buy. (bought GNBT @ 0.84 on 10/18 9:49 AM)
--------------------The InBetween-----------------------------------------------------------
11. Look for the news.. no news out yet.
12. targets.. makin a move to 52 week high 1.10 than psych resistance 1.5.
13. GNBT breaks a dollar trading very heavy
14. traders begin an end of day selloff after 3pm after hitting 1.09
*note: GNBT hit 1.10 but they were rogue trades when the ask was 1.06
15. I consider selling and have an order out for partial but decide to pull it.
*note: i get hit on a few of the shares(1.04) before I sell, not many.
16. this momentm after a solid base should give another day of run.
17. Stock ends the day @ .90 and I'm upset with that kind of drop
18. Optimistic about the next day still.
-----------------------The Sell----------------------------------------------------------
17. Watchin GNBT pre-market(10/19) lvl2 no action till 9:20ish.
18. Bid rises up to ~1.10 and trades are going off on my screen.
19. I decide to sell 1/2 @ 1.08 (9:30ish) because of gap above close and near high of day b4
20. then i notice that the news is out.(buy the rumor, sell the news is in play)
21. reading the news also shows, imo, no immediate impact on $ to GNBT
22. Sell 1/2 of half left @ 1.18.  Leaving 1/4 to see where momentum is going.
*note: affecting my decision is that the bird flu group had hit a wall the day b4
23. Sold the rest @ 1.18 as well.. wasn't willing to give anything up.
----------------------The Conclusion---------------------------------------
24. avg sell was $1.12 a 33% gain.
25. sold in original projected target area between 1.10-1.50
26. could have sold @ 1.08 day b4 maybe not the most efficient to wait a day for .04 cents
27. even if the play continued rising, which it did not(1.21 high), I protected profit.
28. what made this play tick: avian flu(trend), being calm end of day sell(trend), buy rumor/sell news(trend), inverse head and shoulders pattern w/ volume(TA), targets(TA), protecting profit(money management), not falling in love with an idea or stock(psychology)

And the pictures that go along with the story:

G, here's another one to watch. probably to much price rise and action on the break and due for a pullback..but we'll see. 

Quote from: JMoney on October 22, 2005, 11:36:57 PM
G, here's another one to watch. probably to much price rise and action on the break and due for a pullback..but we'll see.

CNCN does look good.. I'd have to see it act on Monday to get an idea of what it could do.  Thinking about it from a different perspective if I had gotten a good entry on CNCN on Friday I think I would still be holding my shares.. I wonder if that news is that good.. we shall see 

Went ahead and picked up some GLIF @ .269

news and nice consolidation break.. chart up soon 

GLIF
news: Grant Life Sciences Expects to Begin Generating Revenues from Sales of its Rapid Tests for Malaria and Dengue Fever Before Year's End
http://biz.yahoo.com/bw/051024/245725.html?.v=1

more GLIF

Shares Outstanding:   58.39M
MKT Cap: 992.61K

I'm up over 80% on GLIF in a few minutes.. thinking of selling partial but.. I dont know this pattern looks good. 

EliteG,

Awesome pick. I missed it after your post. I had a buy at 0.038 and it jumped to 0.039 and beyond.

One more Applaud...

Any other pick you'll recommend for today....

- Dhiraj

I'm gonna hang on to GLIF.. I have a good entry and it has passed over a resistance area that may now provide support(.037ish) and I like the small mkt cap and the low outstanding shares.. which probably means really low float.    I may be wrong but the price I bought @ allows me to experiment 

Quote from: dhiraj19 on October 24, 2005, 10:30:12 AM
EliteG,

Awesome pick. I missed it after your post. I had a buy at 0.038 and it jumped to 0.039 and beyond.

One more Applaud...

Any other pick you'll recommend for today....

- Dhiraj

thx dude.. there may be more, not sure till I see it 

I bought at 0.041...  There should icon of sweating and nail biting too.. 

Quote from: dhiraj19 on October 24, 2005, 10:45:32 AM
I bought at 0.041... There should icon of sweating and nail biting too..

I think it looks good Dhiraj  I'll follow it with a play by play soon    when GLIF makes a new intraday high

--------------------------------------------------------------------

Here is one that I consider very nice.  Have not entered yet but looks great! 

Update on positions:

MOTGE - sold it(-12%) although it is still technically sound and will probably end the day with a nice hammer.  I just dont like holding for such a long period..without momentum continuing.  I do believe this play can still rock and roll for those still in  I just wanted to free up cash.

GLIF - bought in today @ .269(posted above).  I like it and I think it still has much more to go.  Plans can change but I will not sell half till I have over 100%.. maybe 2 bags 

looking for more

GLIF bouncing off the 5min 20ema.. we pass over .04 and another run seems likely