IMCO we were happy with this one.. We took a chunk of profits after the actual announcement, declared we would be waiting for all the 'potpourri of daytraders' who would glut out IMCO and when historical volatility would return to normal we would make our way back in, which we did as we always do with our earnings plays and longer term plays. We waited for ATVI, TMPW, CPRT, ADBE and a host of earnings plays to come back to normal before entering. I blew a 45 call option on ADBE by entering the way of the blustering daytrader and could have made a few grand instead of losing $750. I acted like the quick acting daytrader instead of the cautious, meticulous swing trader and suffered the consequences.
We are a strong proponent of this company, but not looking for the instant gratification of the daytrader, thinking he can 'smash and grab' his way into it after the news. IMCO had a lovely move today and for SUBSCRIBERS and Marketgemmers, those that understand the INTRINSIC worth of IMCO which we did tout for weeks, and not those that are looking for an easy daytrade got the benefit of "anticipatory upswing" and the buy after the hullaballo died down. We watch our stocks for weeks and "understand" their historical pricing patterns, scalping doesn't work in the long run, it never has, it never will. Scalpers burn out in frustration, they have 1 good trade and 4 bad ones, its only the swing trade that has the most profit potential(even the swing short, as surely we swing shorted much of this week) |
