April 25, 2010

RCRC Follow-Up

RC2 is the chart I wrote about on Tuesday that I did NOT trade. Here is the original following the 4/19 close.

I liked the breakout but passed because earnings were being reported on Wednesday. Below is a current chart after Friday's close.

Wow! Sure blew that one, huh? Yep, you could say I missed an easy winner. But I won't lose any sleep over it. This was a potential trade on the chart, technical analysis only. To me it would have been riskier to go into the trade knowing the outcome was dependent on an unknown earnings report. I'll do the same thing again.

April 22, 2010

Sometimes They Go This Fast

Already closed out my ECPG position yesterday for quick gain. Same day in-and-outs are nice, but I don't expect or count on them. Someone suggested I set a trailing stop and let this run in case it takes off from here, but then I run the risk of losing out on this gain if it reverses the next day. I'll pocket this and move on to the next opportunity.

April 21, 2010


Broke 2-month long downtrend yesterday on heavy volume. Going long at market open today. However, it reports earnings next week after the close on 4/27, so I'll close this trade regardless of the outcome prior to the report.

April 20, 2010

RCRC - Like the chart, not the timing

Broke through resistance (about 16.75) yesterday on strong volume. but I'm not going to trade it. RC2 reports earnings tomorrow, 4/21. Have no guesses what that will look like, but don't care. This is about the chart, not the fundamentals. I'd rather miss any potential earnings bounce than risk getting hit by a bad report. Not a good risk when I have no insight on the quarter.


Broke through resistance (about 49.20) yesterday on strong volume. Going long at market open today.