Found a breakout that looks pretty good - MAT. Mattel Corporation started to become more volatile than ever in October which is clear on a six-month or longer chart. It is only now re approaching its latest 52 week high and it looks to be both a good day trading vehicle (consistent 40 cent range) and a good swing trade. Earnings are coming up on the 29th, it's not a tech stock, and there are no negatives that I can find - except that it's in the toy business. It would be a spec play until after earnings but it does look as if the 'toots expect a good number out of it. A lot of positioning going on in the stock. Why the 'toots? - this isn't a retail stock - it's a no buzz - high volume stock. I don't know who is buying - it will be 3-6 months before we know that but it looks like all offers are being accepted.
The annotated chart shows the trajectory - it is a good strong wave format with each successive wave building on the last. And while these things are always personal the stop loss could be set at the last underline.
Do your own DD. I currently have no position in MAT - I might tomorrow even though I hate buying at the top.
Not advice - just guessing - if I were Jimmy Crack Corn Pone I'd declare authoritatively that once this thing hits 23.7 there will be a short squeeze all the way to 25 - there won't be but if I were him that's what I'd call.
4 comments:
Come on, Marlyn, call for the short squeeze! It'll be great for your ratings!
That chart is pretty nice. I might have to give it a try myself. It'll be a good excercise in buying a breakout instead of my usual buying a pullback.
Thanks for sharing.
If you ever want to monetize your traffic, ya gotta start making those short squeeze calls!
Looks like a flat open today, you going to do the QID/QQQQ trade again?
I'm going to take a look 5 minutes in and if the gut feeling is good I'll do it again. No science behind this - just hit it and watch.
Not everything is fun and games.
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