The stocks on the watch list are all stocks that seem to exhibit some qualities of the strategy I am using. They have all spiked up considerably in the past few days and the news doesnt seem to justify the increase. I am still currently holding my MESA stock but will be looking to sell on monday morning. Hopefully it will spike down early morning so I can get out at an even better price. So far I am at around $55 profit from MESA. I’d say its been a pretty good trade so far since I’m up 40%. Once I am free of MESA, I will be looking for which stock brings me the greatest possibility of profiting. I’m not looking for big bucks here, I am only trying to build my account so I can make more trades instead of putting my entire bank roll into one trade. One stock that I do not have on my watch list is AYSI. It had a very impressive spike recently and there is absolutely no news. One drawback is that it is a .OB stock which I believe means the commission is $20 instead of the usual $5. This is devastating for someone only using $500.
May 11, 2008 at 3:27 pm
Hey,
Enjoy your blog. I am a noob as well – are you looking at Mesa to gain or sink? Looking at the chart, it’s tough to see what you are seeing. Can you maybe write a post about what you are specifically looking for in the technical analysis?
Thanks
May 11, 2008 at 5:03 pm
Thank you. I am hoping MESA will go down in price because I shorted MESA. If you look at the chart in the past week or so, do you see the spike upwards? This is what alerted me first. After that I looked for news of MESA to see if there was anything to justify it. There wasnt so thats how I knew it would probably go back down. If you have any more questions please ask.
May 11, 2008 at 6:05 pm
Crap – I just responded to you under the Mesa chart page, instead of here. Sorry
May 11, 2008 at 7:19 pm
Dont worry about it. I can get it either way. Considering it was specifically about the MESA chart, you actually posted it in the right spot.