You lucky devil, you
I assume that many who follow my site were nervous about the dip RICK experienced yesterday. I immediately sent my thoughts last night that you need not worry about it and I gave you several reasons as to why. I hope today's action vindicated my advise.
RICK went down to as low as $6.25 on a volume of 187,000 shares on Monday. Since the average volume for RICK is just under 100,000 shares, this was somewhat significant. However, I thought it was not big enough to worry about. Tody, RICK went as high as $7.11 and closed at $7.04 (+12.6% from yesterday's low) on a volume of 316,000 shares! When stocks go up in double the volume, it means something. Looking back low $6's was a fantastic price, wasn't it? Just so you know, I have added 1,000 more shares at $6.69/share.
Lesson: Don't get overly concerned with our types of stocks (small caps) simply because it goes down. It could be that someone just wanted to exit the position to raise money to buy Silver Mercedes for his girlfriend this christmas! (I know people who do such stupid things - and some of RICK buyers are such individuals)...
Our last few buy are all in the positive territory as well: CMGI / STMP / NTE
UTK is also bouncing back nicely from the attack.
IGLD is dacing simply beautifuly.
Most of you do not own MIDS but let me show you my buying pattern on this: August 2006 $1.43 & $1.33 then in November $0.82 & $0.75 and I have additional buying limit order at $0.60/share. When I am done, my average cost will be around $0.80 area. You will see how this unfolds next year. Wait for the climax!
EXPEZ is teasing you right? Most of us already have nice gains on this but you are looking for more, I know. Acetrader's average cost is $4.36 (+45% gain already). Some of you are at higher or lower than me. I fully intend to get out with at least a double. I still say that we will see $10+ on this baby.
How do I have such convictions?
Almost 20 years of watching the market, you get such feelings. Although far from being perfect, my open record shows that I do OK. I will update Acetraders YTD performance soon (after all earnings are out). But I can tell you this. If Acetrader portfolio was a mutual fund, we would be in the top 1% of all money managers. Give me high-five!
You lucky devils you.
How did you find me?
Traders: I know that I have said that if QQQQ closes above $43.5 then all bets are off. Well QQQQ closed at $43.93 and I had to re-visit my trading schedules. After an extensive thought process, I have came to a final plan. Short term, I remain negative. I still say that QQQQ will visit $40-14 area before resuming its uptrend. I realize I am being stubborn, but the risk/reward ratio is too compelling for me not to have this stance. Therefore, I remain in QID instead of going QLD. Many individual stocks are due for a discount: FLML/ICE/NDAQ to name a few. The earnings season will be over soon. Watch out then.
RICK went down to as low as $6.25 on a volume of 187,000 shares on Monday. Since the average volume for RICK is just under 100,000 shares, this was somewhat significant. However, I thought it was not big enough to worry about. Tody, RICK went as high as $7.11 and closed at $7.04 (+12.6% from yesterday's low) on a volume of 316,000 shares! When stocks go up in double the volume, it means something. Looking back low $6's was a fantastic price, wasn't it? Just so you know, I have added 1,000 more shares at $6.69/share.
Lesson: Don't get overly concerned with our types of stocks (small caps) simply because it goes down. It could be that someone just wanted to exit the position to raise money to buy Silver Mercedes for his girlfriend this christmas! (I know people who do such stupid things - and some of RICK buyers are such individuals)...
Our last few buy are all in the positive territory as well: CMGI / STMP / NTE
UTK is also bouncing back nicely from the attack.
IGLD is dacing simply beautifuly.
Most of you do not own MIDS but let me show you my buying pattern on this: August 2006 $1.43 & $1.33 then in November $0.82 & $0.75 and I have additional buying limit order at $0.60/share. When I am done, my average cost will be around $0.80 area. You will see how this unfolds next year. Wait for the climax!
EXPEZ is teasing you right? Most of us already have nice gains on this but you are looking for more, I know. Acetrader's average cost is $4.36 (+45% gain already). Some of you are at higher or lower than me. I fully intend to get out with at least a double. I still say that we will see $10+ on this baby.
How do I have such convictions?
Almost 20 years of watching the market, you get such feelings. Although far from being perfect, my open record shows that I do OK. I will update Acetraders YTD performance soon (after all earnings are out). But I can tell you this. If Acetrader portfolio was a mutual fund, we would be in the top 1% of all money managers. Give me high-five!
You lucky devils you.
How did you find me?
Traders: I know that I have said that if QQQQ closes above $43.5 then all bets are off. Well QQQQ closed at $43.93 and I had to re-visit my trading schedules. After an extensive thought process, I have came to a final plan. Short term, I remain negative. I still say that QQQQ will visit $40-14 area before resuming its uptrend. I realize I am being stubborn, but the risk/reward ratio is too compelling for me not to have this stance. Therefore, I remain in QID instead of going QLD. Many individual stocks are due for a discount: FLML/ICE/NDAQ to name a few. The earnings season will be over soon. Watch out then.
posted by Jaewoo | 5:40 PM
2 Comments:
see comment to yesterday post about cancerwebsite
the Ronald
I was laughing at the RICK bounce back yesterday. After Tuesdays painful downturn (I was literally 30 cent away from my "cut losses and run" point exit strategy), it was very gratifying to watch the upsurge kick in on Wednesday.
I'm long on RICK, and am well convinced of their value going forward.
Keep up the excellent blogging!
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