Friday, April 27, 2007

BONEHEAD OF THE DAY

Ok, so for the week I had a pretty good win/lose percentage but the closest thing I had to a rocket launch was on Wednesday with IDSA at 25%.
Today I could have probably topped that one but I BLEW IT.
In the chatroom Slotmonkey put up IDMI which turned out to be a super alert.
At the time I was holding quite a few stocks and since I thought to myself, "I don't recognize this stock" I didn't even bother to do a quick chart on it.
It ran from about 7.20 to a hod of 9.68 right near the end of day.
After the close I looked at the chart and couldn't believe it.

...I HAD POSTED ABOUT THIS SAME STOCK ON 4/7!

This is great, here is what I said:

Saturday, April 7, 2007

SPEAKING OF IDMI

As Stockbee would say, IDMI had an episodic moment. That's why it's important to remember Former Runners. This stock may never go again, but many do, and that's why it's important get to know stocks and how they behave.
They may go quiet for a long period of time, but when one day they start running on the HOD list (with volume), you better pay attention!

Ya gotta love where I say "YOU BETTER PAY ATTENTION"
This is why I love trading stocks,you just never know what will happen next.
It's also why I lost an ego a long time ago.
As long as I've been trading I still pull bonehead moves like this on a regular basis, haha.

Every day, "WHAT A RUSH" is right!

7 comments:

slotmonkey said...

The biggest bonehead is the one that posted IDMI and didn't do a thing with it. I learned how to find them but I still gotta learn how to play them. Posting you trades will help me in that endeaver.
Thanks for showing us the way, Muddy.

Laura said...

Slot, I feel your pain, lol. I do it all the time.

But the point is, you spotted it at the exact breakout.

The other point is Muddy posted on this stock twice and didn't buy! LMAO Mud!

Great call!

Anonymous said...

looks like its about prime to short now

Pradeep Bonde said...

You should trade Episodic Pivots with longer holding periods rather than as day trade. Most of them offer best risk rewards for 2-6 weeks holding periods.

Anonymous said...

You should trade Episodic Pivots with longer holding periods rather than as day trade
---------------------------------
and what exactly are these my friend?

Muddy said...

From stockbee:

Major rallies start with a catalyst. Often major rallies start with high volume gain days. Some of these stocks have the catalyst to launch multi month move. Catalyst like recent earnings, earnings momentum, earnings/sales acceleration, new product introduction, sector rally, insider buying , regulatory approvals, etc. are capable of triggering long duration or high magnitude rallies

I'd suggest to go over to
http://stockbee.blogspot.com/
and search Episodic Pivots and also read his blog from start to finish.

Also on this blog the "Squeeze/volume/breakout" will show how almost all of these episodic pivots can be found.

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