Wanted to say high from the very windy city.. Hope you were able to alight NTOP.. stayed up all night specially to see that one. Closed my position in AUDC 2nd time since it IPOed. Will probably close positions in LBRT, WEBT, ALLR, RIMM,INTU, ADIC and FCS early in the afternoon in case I lose my computer and/or telephone connections.
Also don't kid yourselves there is absolutely no stock in the IPO category that will continue to move without correcting soundly, RHAT, NTRO, JNPR, AGIL. so please don't get caught up in any euphoria when they are up. Also NEVER average down. Don't get in BEFORE you stock has pierced the proper resistance lines, don't chase them. I shorted RHAT and covered a bit too soon, another 7 points possible gain lost. I think I made about 16 points going down and 15 points going up in just a week that should tell you the entire story. If I had had time I would have gone long BRCD and CMTN but it was too late. I see these as just potential 5+ gains intraday.
SELL THEM AFTER A NICE 5-10 POINT or MORE but don't think they will continue their upward trend. There are very few high flyers that are FUNDAMENTALLY sound that stay up, so don't expect the others that are still virtually unknown to stay up. I go short or long PHCM, NTOP and RHAT when the chart dictates, I have no illusions, no loyalties for holding these more than 1-2 trading sessions. Don't get in on a 'whim' or be influenced by any diehards in any one stock.. Be skeptical, expect daily proof in the chart before entry. Just keep in mind today's 'best up' list is tomorrow's 'most down' list. If you remember that, you won't go wrong. |
