The Ambitious Trader: Stocks, Trading, Investing..My Ambitions as a Trader and Investor

This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.

Tuesday, October 17, 2006

Bears in a Bull headlock...

Hey folks,

For what should've been a celebratory day for the bears, turned out to be more of a buying opportunity for the bulls as several attractive stocks offered great buying opportunities (such as WSTG and EVST for instance). While my accounts were in the red during the pre-noon hours, I saw some green on my screens and actually some impressive gains in one account and a very slight loss in another. The fact that the market turned around after hitting its low point was impressive enough to attract more buyers as the institutions and big boys loaded up on hot stocks that were tripping off stop losses on the dips. In addition, a proportionally large amount of stocks closed near the HOD, which gives proof that there are a more believers in this market than the average bear may think. Let the nonbelievers continue to scrutinize the market, while those who follow the trend benefit handsomely. I have a ton of Hw and studying to do (which is why I haven't been on as often), but I will try to pop up a little later and offer some stock suggestions. Later.

Update: Some suggestions
INPC, WSTG, EVST, ESPD, SIGM, MCRS, GCOM, FELE, SQM, APKT, RVBD, KSW, CVLT, DIVX, INWK, CDWC, ATRM, TDS, OXM, NSTC... some are new picks and of course, there are a few previously mentioned picks as well.

Yeah, there are others, but this is a good enough working list. Besides, there is always tommorow!

Update: 10/18/06 Grab some NYX as the stop has filled its gap and is at a pivot point. If above average market trading volume ensues, NYX will go higher.

2 Comments:

At 10:11 PM , Blogger Singar Studio said...

Looks like SAI is experiencing some resistance at 18.00 level. It tried all day to get over it and couldn't.

 
At 12:39 AM , Blogger Nick M. said...

I was looking at some intra day charts and it seems that you are right. It has been lagging a bit underneath 18. EHTH has been also slow to make new upward moves compared to APKT. I think APKT is the healthiest of the 3 new IPO's. Compared to the other three, it has experienced the least amount of selling from the underwriters and company insiders (you can see this with a money flow chart). Oh well, I still think that all 3 will be fine for the intermediate term (SAI will be good for long term). I am planning to go long on SQM tomm (if conditions prove to be favorable)

 

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