NSCP question for technicians or whomever.
Wish I could report, like so many do on this thread, that I picked up some NSCP this morning at the open and rode it up 8 points, what a great day, good call, etc. etc.
But in fact I only thought about it and then chose to play another stock (ABTX, which didn't have a good day).
I've been in and out of NSCP for the past couple of months, suffered some losses on it, but always knew it would explode some day, and I vowed I wouldn't let this one get away from me, which of course it did today in a laughably grand way.
My question:
At what point today do you decide to jump in? Other than volume, which didn't pick up until the lift-off about 12:15 today, what do you look at? How do you tell whether this isn't a typical fake-out that will fade at any moment? Once it broke 30, I forgot about it for a while, then looked back and it was 34, and so on.
Was there anything in the chart over the past 10 days of trading in the 26-28 range would foretell today's breakout?
I know, the famous Gap strategy would have worked brilliantly today, but too often I've bought near the day's high using that technique.
Any insight greatly appreciated.
And what about tomorrow. The tremendous volume indicates a probable continuation tomorrow, right? But I was too chicken to buy at the close today.
Any tips on how to play this stock tomorrow? Wait for the initial blow-off and get in on the dip? Stay the heck away? Or what? This seems like a classic stock action to me and a great learning opportunity.
Thanks. |
