DrBob, thanks for your excellent TA, and the membership in SI. I have always wanted to be in this premiere site. The quality of technical discussion is getting better every day with new folks coming on board.
I am playing the recent IPO's. So far so good, but risky business finding a bottom and trading range for these highly valued stocks. I like AVCI, which I've traded (129-150) and bought again in the upper 120s for another trade. I made one trade on CORV (87-96) but have no current position. I took a new position on ONIS at 89 on Friday hoping this was a good entry point. Also, I have been trading AVNX in the 128-136 range. I'm watching SONS and SCMR. August was one of my best months, thanks to a large position in EXDS and some trading fortunes (RFMD, BMCS, RBAK, NXLK, PHCM). I need to be careful here because confidence can invite reckless behavior.
My hunch is more upside on the NAZDQ during the coming week with some profit-taking on Friday afternoon or Monday. My cash position will be larger than usual for September and early October as bargains appear. All of this depending on what the market dictates, which often does the opposite. |
