I screwed up with my last watch list. I forgot to list a couple additional stocks that I was long last night. Both FNM and FRE. I bought them going into the close on Friday on mid-day news about Congress passing HR 4173. I was alerted to this on CNBC and watched as both stocks spiked Once I saw that both held their volume and price I bought them for an overnight trade. I realized I missed this in the my watch this morning when I got up.
ANX – I bought this into the close on an alert inside the chat at IU. It’s being pumped and should get a bit more out of it over night.
BEE – Nice move yesterday but its volume was just average by historical standards. I’ll watch how it deals with the $2.00 mark and see if volume picks up any. Looking back at September, the big moves took 10M and 15M, yesterday was still around 2M.
FNM – I am still holding FNM because my price target hasn’t been met yet. I nearly got to it so I’m holding it one more day. I didn’t really want to hold this two days because both FNM and FRE are basically dead companies. I only bought them on the momentum of the bill’s passage. I figured I’d get a little spike out of it and it was a pretty safe trade. But they are both like TLB from last week. Not something I want to hold long. I’m just happy they were a stock I spotted and moved on without any outside influence.
LZB – Still long here. It moved over $10.50 today in the last few minutes of the day. Great chart today. I kept waiting for a pull back and never got one, which I’m happy with. One more day like that and I’m happy. Course, I still expect to have to hold it a few more days, but that’s okay. I have a real comfortable chair to watch it from.
MSHL – This is another alert from IU. They have drug news coming out on Thursday. If you look back over the last year, each time they have had news there’s been a little spike. January, July and September. The spike in May has no news related to it. Today was the second day big move. I’ll be watching this on a daily basis for more trending and get out at the first sign of weakness. I certainly don’t want to risk holding it in case the news is bad on Thursday.
XRM – 25% move on Monday on increased volume. The only news I found was their own press release and a notice of delisting. Interesting. Have to check my email for other news. This is the kind of move I’m trying to spot. Something that is just starting to break out after a one day move.
The Donger Trades 