I Twat I Taw a Puddy Tat: PGDCEB report.
This week features plenty of new casualties to add to the bunch, a
few signals to put on the table, and a little trading to monitor.
New gappers since last report: VSNT 39-45, SPLH 39-43, LCRY 30-36,
ACEC 37-35, VDNX 35-29, IQST 43-30. The first number indicates the
opening or intraday gap, the second the close to close percent loss
for the day. Most fell on earnings related news.
Add these to the existing list of: EFII, KLIC, VVUS, DANKY, ORCL,
MMGC, NRGN, NRL, DAVE, SLAM, PLXS, APOG, DEPO, XION, AGP, SGI, OXHP,
ACTM, TSEMF, TRKN, ALRM, CKSG, LEN, MEGO, OCAD, QUAL, BMC, ALTS,
AMLN, TEAL, LIPO, CMCI, XION, RMDY, TLDCF, RAIN, MCRE, HCIA, PTB,
GMTC, NANX, ADPT, MDYN, LCCI, BCGI.
Some of these may never signal or be anywhere close to signaling
now, and some may be in the 3 week post gap waiting period. See
Doug's post #10425 for a more thorough description of many of these
dead cats. I'm thinking of limiting the post gap monitoring period
to 6 months.
Previously traded symbols: Only QUAL was left hanging after the last
report. It stood it's ground well during Friday and Monday assault
and made nice gains this week. Unfortunately it was closed out by all
exit methods with a small gain.
New signals: Monday was a signal day for several cats: PLXS, DAVE,
SGI. ORCL teased but did not move off the low sufficiently. Not
surprising to get multiple signals on such a dramatic morning attack.
It was a difficult day to play signals since two of the three rallied
sharply long before the volume requirement was met. I'm not aware of
any other signals for the week.
Currently traded post signal cats: I am currently tracking two
trading methods. 1: Doug's accelerating trendline method best
described in post # 10411. 2: My own intraday trendline and
horizontal support method. (Both must be broken to trigger an exit.)
Doug's method is easy to apply and track. There was lots of
discussion last weekend about exit strategies for PGDCEBs. These
are the two methods I feel can be relatively objectively followed.
Following are my best estimates of the results trading these
signals using these two methods in a strict fashion.
PLXS: Difficult to judge entry point because the price plummented
near the close. Between 13 1/4 and 13 3/4.
1) Exit today 1/16 at 14 1/8.
2) Exit 1/14 at 14 3/8
DAVE: Probable entry at 6 7/8
1) Exit today 1/16 at 7 1/16
2) Still open at 7 1/8
SGI: Best probable entry at 11 1/8
1) Exit today 1/16 at 11 5/16
2) Same exit today.
Last weekend the ideas concerning PGDCEBs were really flowing.
The reversal process looks promising, as does presignal play, but no
one seems near creating an objective system. I guess we're just all
too busy trading!
Happy hunting.
Esteban |
