BZ1983
7 posts
msg #89255
- Ignore BZ1983 |
3/8/2010 9:52:10 AM
Sbuck, yes, it scans for stocks that are likely to reach at least 5% as a high for the week, not necessarily close at or above that level.
|
sbuck143
88 posts
msg #89362
- Ignore sbuck143 |
3/10/2010 10:40:24 AM
Booyah!
MTG up big today after bad earnings yesterday. It definitely hit and is approaching 10% for the week actually.
I am going to be playing these with straight up options when possible. MTG was optionable, and so it was good for a 24% gain in 2 days (in at .85, out at 1.05). If i had known to let it ride.....it'd have been close to 60% in 3 days!!
TUES looks like its getting ready to trigger as well.
|
sbuck143
88 posts
msg #89593
- Ignore sbuck143
modified |
3/15/2010 8:53:49 AM
For this week the plays (based upon the first post's filter) are
1) Our old friend MTG
and
2) ***HIGH RISK*** The oddly named CEMJQ Chemtura Corporation, which apparently is in bankruptcy,
|
dplowman
3 posts
msg #89595
- Ignore dplowman |
3/15/2010 9:21:44 AM
FYI, Chemj is in bankruptcy.
|
Kevin_in_GA
4,599 posts
msg #89608
- Ignore Kevin_in_GA |
3/15/2010 1:02:24 PM
And yet it already hit its 5% target for the week. Not too shabby ...
This one has been in and out of the 5% list over the last few months, but has delivered 12 out of the last 14 weeks without ever tripping the 10% stop loss.
|
dplowman
3 posts
msg #89618
- Ignore dplowman |
3/15/2010 3:02:06 PM
The bankruptcy notice threw me off, shouldn't have listen to my gut feeling!
|
sbuck143
88 posts
msg #89695
- Ignore sbuck143
modified |
3/16/2010 1:20:19 PM
MTG is up off its weekly low by 9%, hasnt hit the 5% trigger from open, yet. Looks promising for today.
This is my new favorite set and forget strategy.....implementing with options.
I bought an April 7.50 call for 1.20 yesterday at open that dropped to .85c. Doubled down at that price and sold all of it at 1.35 20 minutes ago! 32% in about 24 hrs. Yeah, I'll take that for the week.
My overall risk mgmt is to shoot for 25% gains in the option, with a stop loss of 30%. Requires a 55% win rate to break even. ITM option with a delta of at least .70 to get adequate movement on a 5% move of the stock. It almost got tripped yesterday but thankfully held on.
Biggest problem is most of these Crockpot stews return stocks that either do not have listed options or are so illiquid optionwise that you have no hope of capturing your profit. You cannot win when there is only one market maker, 10 Open Interest and a 2.00 bid/ask spread on a 6 dollar stock.......
|
sbuck143
88 posts
msg #90410
- Ignore sbuck143 |
3/26/2010 11:41:14 AM
No optionable plays this week, but another week, another winner in WAVX.
There's really not much reason to do much else than this strategy thats for sure....
|
BZ1983
7 posts
msg #90509
- Ignore BZ1983 |
3/28/2010 6:30:46 PM
Did you play CEMJQ last week too or just WAVX?
|
sbuck143
88 posts
msg #90510
- Ignore sbuck143 |
3/28/2010 7:40:50 PM
I stayed away from Chemtura since its price is so low, I was a bit afraid of a stop-out. I only played WAVX.
I think the best way to play these is to wait for the Monday morning low, buy in there, and ride it for as long as you want.
|