Thanks for being a reader of the blog! I do appreciate your kind words.
With KIRK, I decided to buy as the stock was showing above average volume momentum. In addition, I had been planning to buy KIRK for a while but never had the nerve to buy it after it broke out end of March. I could have waited for the stock to clear 7 which would had been a great confirmation of continued momentum, but I decided to just take a chance and get in as early as I can. The stock is showing tremendous strength and I believe that they will continue to outperform the market in the upcoming months. I believe that their restructuring plan will help out earnings in the next few quarters. Of course, I could be wrong and the trade may fail, bu then again that is why it is important to cut losses as soon as possible. I believe that it will break out of its high handle position.
I like OMGI as well. It has some nice breakout action. It looks like it has broken out of a cup w/ handle and it is going for all new lifetime highs. It doesn't get any better than that!
Nick, Do you think one should wait for MAIL to take out 7 first?
ReplyDeleteAnd OMGI looks good I agree.
Thanks for a great blog, I have followed you for a year or so, and your picks are great....Keep it up.
I meant KIRK....not MAIL
ReplyDeleteLee,
ReplyDeleteThanks for being a reader of the blog! I do appreciate your kind words.
With KIRK, I decided to buy as the stock was showing above average volume momentum. In addition, I had been planning to buy KIRK for a while but never had the nerve to buy it after it broke out end of March. I could have waited for the stock to clear 7 which would had been a great confirmation of continued momentum, but I decided to just take a chance and get in as early as I can. The stock is showing tremendous strength and I believe that they will continue to outperform the market in the upcoming months. I believe that their restructuring plan will help out earnings in the next few quarters. Of course, I could be wrong and the trade may fail, bu then again that is why it is important to cut losses as soon as possible. I believe that it will break out of its high handle position.
I like OMGI as well. It has some nice breakout action. It looks like it has broken out of a cup w/ handle and it is going for all new lifetime highs. It doesn't get any better than that!
-Nick M