AMZN opened at 137 1/4 up 2 from my buy point and CNWK opened at 70 3/4 up 1 5/8 from my buy-in. Both gapped up, but not by much. CNWK collapsed right after the open, AMZN ran up 10 more points.
A good way to make money on these gap plays is watch at the open--sell on selling, but hold if there is buying at the open. Then you could have gotten the extra 10 points from AMZN as it continued its momentum.
Both stocks closed today lower, something quite to be expected when you are buying gap potential stocks--often they run a bit after the gap or collapse into the gap.
Many apologies for posting CNWK with the incorrect symbol--I wrote ZNET which is, of course, nowhere near 69 1/8.
I will attempt to be much more scrupulously careful from here on out.
So, today's score is +1.4% or so, much better if you held AMZN a while after open given its strength at the open. Of course, if you didn't dump CNWK right at the open you would have gotten pasted.
I did not get a chance to pick anything today, sorry. FAXX looks good chartwise but it is after market close--too late to pick it.
Matthew Cromer
NETworthy |
