Miles, when you can profit on a trade (even when their is an unexpected news disaster) that is pretty amazing. The strategy has had 9 winners in the last three weeks+ and 1 loser. ADVP was a temporary loser, but became a nice winner.
MIR was up about 80% in 2 days. That was the biggest, although the others averaged about 25% gains in 2-5 days. Maybe you missed this. I'd love to hear YOUR strategy. From your smugness, it sounds like you're doing even better.
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posted on the Gore thread:
I call them ODOD's or ODOW's (Oversold Stocks Of the Day or Week). Fundamentals and Technical Support Points are used to determine safe entries along with the Market and OBV analysis. It has been wildly successful and losses are kept to a minimum with tight mental stops. In other words, emotional selling which often carries things to far to the downside in this market, can result in great trades, if you are selective.
Winners
1) Remember TYC at $7-8 in the over-reaction (up 40-60% to $12.50 in 48 hours last week?)
2) Remember MIR at $2.50-2.80? (up 65-80+% to $4.50 in 24 hours)
3) How about CDCY at $6.40 (up 35% to $8.75 in 4-5 days)
4) Today was ADVP's turn (up 18% from $17 to 20.20 in 3 hours)
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5/6) Even ITRI which has been dissappointing is up about 8-10% and ATYT returned about 20% on a trade before it fell back on NVDA's lousy announcement.
7) KG, an ODOM, was up from $18 to $22 from where it was highlighted here a couple days ago (even though back down today)
8) THQI was a great one at $17-18 as it had beat earnings YOY by 35% and guided very strong. It quickly came back to almost $25 in a couple days.
9) DROOY near $2.20 to $2.50 when gold plunged to near whole number support at $300 but held. DROOY ran over $3.00, a 20%-ish gain.
You can't win em' all, of course
The only big loser is ORB on credit issue. It's an overreaction but I gauged this one wrong. I'm almost certain it will be fine simply because their earnings are going to dramatically help their ability to improve things.
A stop-loss kept the loss fairly small. Other than that there was NVDA but I sold it before the close for a 1.2 point gain.
Also ADVP was a loser if you bought at $22, but by averaging down at $17+, you are likely back up nicely overall. [edit - pretty amazing when negative news comes out and you can still buy even cheaper on a second silly overreaction and turn out ahead overall]
PS--- ORB appears close to a financing package. News on Briefing after the bell. Furthermore their PR guy says the term will be good since they had excellent eranings of 12 cents eps last quarter and huge business from Boeing and Lockheed, and others.
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PROPER REWARD/RISK ASSESSMENT ====================> SUCCESS |
