EASI I had experience already in selling EASI too soon. What I also love above EASI is the way it exemplified one of the more difficult pattern recognitions of THE GAP UP AND DROP TO A RISING MAJOR MOVING AVERAGE. Its difficult getting examples of such stock but they ALWAYS OCCURS IN STOCKS WITH GOOD REPORTS THAT COMES INTO MINOR profit taking. LOW had one bad day but the HD report brought it up, PETC had one bad day and the same happened. Let's look for 56 and maybe higher with raising the trailing stops along the way. Give strong companies that extra chance to recover strongly, but don't give the hitherto weak as water company too much credit that it indeed has turned a corner and on its way from reform school to a Harvard Degree. Be suspicious! Keep stops tight and take profits when they come. Everything won't work perfectly and some straddles (we thought MDT would be one just won't have one direction move enough for the straddle in itself to succeed exceptionally) That is why we have the "anticipation phase" SMTC, SEAC and TSA were awesome in the "anticipatory upswing" phase, but SEAC from experience was the best play to hold over. I also did take SEAC long after the report but also a few hundred SMTC and am down $0.40 of the rather large intraday profit. I have no doubt in my mind I'll make it up within the first hour of trading. CA was posted as just a short (put play from much experience with that loser) however without phase III you'll end up averaging down on losers instead of changing direction turning them into winners. If any doubt, remember OSIP, and TASR. We were steadfast in both (upside and downside) and got over 12 points in one and 33 in the other and ultimately the gains in TASR whether its believeable or not are now over 2,200% in options. I can barely believe it myself.
MDT had a more typical pattern today of perfect bullish haami in the 10;15 reversal period which lose right above resistance of 57 while dropping intraday to a low of 45.48, well below support. As is usual the strong will survive, I still prefer sector rotation and although techs did rally, for me it was the very last sector to rally and we were in no hurry getting in (especially after 2 awful mornings with downside as later as 11:30 a.m in most techs with the added feature today of a GAP DOWN and crap open in the likes of NSM, INTC and KLAC. I have 2 tech stocks and get them at the bottom without losing any sleep, money or anything. 5 plays are across sectors and this diversification should keep me afloat for the rest of the week.
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