Frustrating Action...
Today wasn't a good day. For the most part the markets kept me frustrated all the way into the close. Many of my new trade ideas blew up on me. I stopped out on LFT after an ugly reversal. I was actually able to get in at a good price (32.59) and bailed out at 30.20 for a 7.33% loss. So much for that stock. On the flipside, there were several current holdings in the 'folio that did just fine. These stocks are the cream of the crop and boast the strongest RS in comparison to all the other stocks within the U.S.stock market. The one thing that has me a bit uneasy is the fact that I haven't really found any new high quality stocks to buy. Sure there are still plenty of lower-priced speculative issues floating around but nothing to really get me excited about buying. The amount of negative reversals has me a little queasy as well. I may just be over analyzing the situation though. We'll have to wait and see how the week ends. Keep an eye on earnings for ASIA and CRDC for tomorrow. ASIA already reported earnings and CRDC is due to let the news spill tomorrow morning.
Stocks that Did Well: APPY, AXYS, BIOS, CRDC, HNSN, KHD
Added To: AXYS, BIOS
posted by Nick M. @ 7:39 PM
4 Comments:
lft crushed me too... but got on board again around 29 and did offset loses.. the volatility turned out too much for me to handle while working on a deadline at work..
hoping to trade it again tomorrow.. there is a trend i observed for chinese stocks.. dips around lunch time and picks up later half (if i am lucky).. if that happens tomorrow, I will make a bet for upswing for second half buying at lunch hour..
about juniors gold mines.. i have one long stock that i am accumulating.. speculative but high potential in couple yrs.. TYHEE DEVELOPMENT CORP.
caio,
my 2 cents..
Raj,
I'm done with LFT for now. I'll wait for it to work on a stable chart for a few weeks. For now, LFT has been sold off on heavy volume. I agree that lunch time is a good time to pick up not only Chinese stocks but most stocks in general. By the way whats the ticker symbol for Tyhee Development Corp?
Nick,
Its a canadian company.. try TDC.V in yahoo or VCE:TDC in google finance.
There are many such exploration companies.. but so far from my research this one seems to be a good bet. Look what happened to TIE in last 3-4 years ! it was a buck in 2004!
Raj,
Thanks for the ticker. I'll look into TDC. So far it sounds pretty good. The only turn off is that it is a Canadian penny stock at the moment. While I realize the potential of it becoming a big winner (like TIE, AKAM and others that started as penny stocks), I would like to see it continue improving over the next few weeks. I am also aware that there are plenty of penny stock scams and B.S. companies that trade on the TSX Venture Exchange (not saying that the U.S. OTC.BB exchange isn't filled with them also). Still, TDC is an interesting find. Thanks again.
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