ABOV and BYND and what lies ahead....
Hoping that internet will regain more lost ground next week when a new slew of earnings are coming out.. We needed this release of pressure and it's made it possible for us to cash in on some earnings plays that were very overextended. Plays like EFII, VRTS, VSIO were good tradesafter they had corrected (EFII to the tune of 15%).. Just one warning.. to stay out of some particular high flyers like CMGI, YHOO, DBCC,AMZN,GNET, MALL, EGRP,NETG,GCTY..that might not have finished correcting. I don't post these on my watch lists since their fall as long as they are still doubtful trades.. Don't be the first ones on your block to enter them.. if they haven't finished correcting you are looking at an 10 or points drop. Wait until they are up 2 consecutive sessions before getting in.
On the other hand BYND, ABOV, ELNK, MSPG look they might be finished correcting. VRSN showed signs yesterday that it had completed its correction.. Remember a corrections is natural and normal.. and all the talk about the president, brazil etc.. is just another attempt to find an excuse for an ordinary phenomenon.. The way you won't get caught in a correction is to SELL your profitable stocks and not hang on too long... If NDB was up more than 125% in one day, you would not want to enter it again afterwards so quickly.. the same is true for DBCC, BYND, CMGI.. and now even GNET. I missed GNSSF and NTBK with these theories but I've also "missed" the entire down turn in the last 2 days save for a 1.5k loss on some ELNK options. |
