Wednesday, May 16, 2007

Good Evening

Today I made attempts to not sell low. Yes, I should have sold CMGI yesterday. However, since it retraced today but did not hit my previous entry, I bought 2K more at 2.285. Again, this is an attempt to add to winning positions.

I also bought 500 SWHC @ 12.80 as a blow-off bottom play. I almost bought it yesterday after it made the big bull hammer off the 200 day average. I hope it makes some of you feel better that SWHC has fundamentals to go with the techincals.

GIGM had a nice day today on news that it has the licensing for a popular Sega game.

Although the Nasdaq had a nice day, volume looks like it will be lower today than during the last two down days. That is never a good sign.

Last night I spent some time exploring Tradesim. While this product looks awesome (Just over a 1K gets you Monte Carlo sims / random entries and R multiple distributions) you must use it with Metastock, which is not cheap, and requires a fairly expensive data source. I would like to hear from anyone who has used Tradesim. From what I'm finding, it is going to cost on average 2K to get good backtesting / system development software.


Dogwood said...

You can give credit to the 200 MA for SWHC's reversal, but all real stock traders know that the stock went up because I sold it yesterday.

Its scary to think about the power and influence my blog has, but I'm learning to live with it!


I sold yesterday morning, then looked at the chart after the close and thought one thing...that's a bottom.

Sure enough, there it goes!

Unfortunately, I was in a meeting until Noon, so I missed any opportunity to get back in. I'll be watching for an entry over the next few days.

Woodshedder said...

Well, that's what you get for selling CMGI yesterday and causing it to crush me today! lol

I almost left you a message on your blog about swhc, but I didn't want to come across as rubbing your face in it.

Dogwood said...

Rub away whenever you see me do anything stupid.

Most times I recognize my stupidity fairly soon after the fact, but sometimes I need some assistance in that area!

indypass said...

classic bull flag resolution...tu...gdp

Deborah said...

I had a look at CMGI.

It looks to me that most of the earnings last quarter were from a one time only equity gain, which is generally a recipe for share price to go down the next quarter when the next earnings are announced.

It looks to me eps would have been around 3c without it.

I only glanced at the financial reports, but when ever I see a relatively large number under Other Gains it really raises red flags for me to check much deeper into a stock. Good luck with this one.