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.
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:
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: