Wednesday, October 31, 2007

Wild, Wild Day

BWLD hurt me today. What more can I say? I will sell my remaining shares when it catches a bounce.

The RSI(2)<2 filter identified IMA last night. The stock closed up 8+% today. I ran the filter again tonight, but out of 16 stocks, the only one that I would buy is RGR. I may pick up some shares in the morning.

I sold out of my CATS today when it did not rally after the Fed announcement. I took a small gain from the trade. You may recall that was my second RSI(2)<2 trade.

Speaking of the Fed, on the dip after the announcement, I bought 100 QLD @ 118.81 and then sold it for 121.11. While the trade was excellent, it did little to ameliorate the pain caused by BWLD missing.

I really want to go into tomorrow with a few breakout plays, but right now, after a long evening of trick-or-treating, I don't know if I'm going to run any screens or not. If I do, and I find some promising charts, I'll post the names here later this evening.

4 comments:

IIO said...

I feel for you and your BWLD. I had a 20% loser just the other day, along with numerous other double digit losers.

Just to let you know, I made a post about the criteria I use to select stocks. If you have any questions, just let me know.

FYI, when I click RGR, I get Apple.

Dogwood said...

If it helps you feel any better, check out NRMX in August. Note the HUGE gap down, then imagine having 1,000 shares in your account when the shit hit the fan.

Unfortunately, I didn't use my imagination, I used cash instead. Taught me a very good lesson about overtrading.

Feel better now!?

Your welcome. :)

Nice day trade by the way, I caught that one too. It was a fun trade. In and out in 19 minutes. Cool!

ducati998 said...

woodie,

Interesting reaction within BWLD and somewhat overdone based on the "seeming" reason.

It would seem that the very substantial increase in Depreciation writedowns of 54% caused the earnings miss.

This is unusual in that Depreciation is an easily manipulated line entry, thus the earnings could easily have been managed to meet, or beat, the Street. [Certain franchise restaurant expenditures]

The question must arise, why, with such a high P/E ratio, Growth Stock status [with attendent potential downside] did management not "manage" the earnings here?

Food for thought.

jog on
d998

mdawsz said...

^^^Poltroon.