Runner Stocks Follow Up

This is the addendum (exiting) of my AKER trade. The original post is here. I added the follow-up chart below. So much to learn from these intraday runners, I learn from all the trades I do. And no not a daytrade to those who show no interest in this stuff. I don’t know why so many show so little interest in this, you will learn way more thru the daytrader/short-term trader opportunities than anything else – even if you don’t trade them. And certainly it is understandable why people won’t or can’t trade them. But with all that can be learned from them, with the accum, absorption, 123 springs, 123 tops, upthrusts, #1 EA, reaccum, they are all there. And .3380-.54 in AKER, I’ll take it.

Original post:

There are a lot of ways to look at strong stocks. In the big more quality-type stocks, the trend is the momentum. But momentum in small, often low-quality, stocks is the trend. And if the trend is up, then we should be looking to buy. There are numerous approaches to this which we can develop over time. I have my ways, and one of them is buying into the selloffs after the first EA. And as long as the volume doesn’t explode into the highs and/or into the selling waves, then the probability is that the trend (momentum) is still up. Then it’s just a matter of judgement, the buying and the exiting – pure judgement. We also need, early in the session, to attempt to recognize which stocks can be runners for the day. That alone is very helpful to having profitable trades – the recognition.

So today at 10:30 AM, I left this comment:

I will get back to EBAY in a bit, but it’s more of a longer-term thing. Today watching QNST, INPX, BSPM, AKER. Different things with each one. No positions in any of them so far.”

And at 12:45:

Forgot to add in premarket, for the rest of my JNUG position with a 15.42 scratch stop. Also, here is that AKER chart, missed it so far.”

Below is a post-market scan of the day’s winners. Those 4 stocks were very active and strong stocks, allowing different strategies:

 


My focus ended up with AKER. Below are the self-explanatory charts. Yesterday, I exited ATOS in pm trading – ATOS post plus MSRT, gold. We’ll see about AKER if there is a spike. My stop is at .3490.

 

 

 

Follow up, the exit, notes on the chart:

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About traderscott 950 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.

4 Comments

  1. Didn’t see any news, assuming it was short covering off the low.
    Expect the move to be short lived, 2-3 days then back down if that’s the case?

    • Definitely SOSes built up before the explosion, but yes another penny stock surge, starts with the strong hands stepping in, short-covering, ends with the short-covering/Stocktwits buying. But when the trade is there, some really great setups. And the beautiful reaccum bounces on Friday. Maybe another secondary rally, but that huge volume right into the high, and following it back down. Wow. I’m sure there are a lot of new bulls with this one.

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