Monday, April 09, 2007

Monday Morning Action

Added to AKS on the pivot point pull back. Bought a partial in KNOT - based on nothing else except that it went up the last three days last week and maybe whatever fund was selling out their holdings is finally done. And I am joining in the irrational exuberance over DNDN with a partial. I seldom buy a stock after it goes up 2.5 bucks in the first few minutes but I'm making an exception with this one.

This is a classic return to 4 and I bought it at the intersection of the open on the 4th bar and the EMA 4. I put a stop at 50 cents below my buy point and if it drops back down it does and is gone and I won't cry over it - I'd only cry if I missed the biocrappa run of the century.

Good trading everyone - it looks as if my prediction of not much today is going to hold.

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