Technical Analysis Day Trade Review: Another Day of HUGE PROFITS FOR BLACK SERVICE MEMBERS! LVLT, MTG, HERO
Oct 30, 2008 Day Trading, Small Cap Stock Picks, Technical Analysis
It was another volatile day in the markets as every one was cautious over the FED’s announcement of the 1/2 point rate cut which we all knew would likely happen. Most often the markets sell off on news like this if it is already expected to happen and known in the market. The Stock Market discounts future events that are expected. Its the surprises that spark a huge sudden move in the market. This is known as the buy the rumor sell the news theory.
[ad#post]
We made some Big Trades today for our black service members and pulled in some big gains making this a hugely profitable week. The stocks traded today were LVLT, ARRS, SOLF, MF, MTG, and HERO. I’ll highlight some of the big winners.
Day Trading Stock Pick #1 – LVLT
I bought LVLT yesterday right near the close in hopes that we would see the breakout of the ascending triangle at $1/share today and we sure did. Unfortunately i was planning on buying some more today if price did in fact breakout above $1/share yet slept in about 45 minutues to much and missed the breakout. But at least i still caught it and made an awesome 22% gain. There was horizontal resistance around 1.20/share which is where i wanted to take profits.
Technical Analysis:
Day Trading Stock Pick #2 – MTG
Next stock we tackled was MTG which was breaking out from another ascending triangle pattern (aka: my favorite and most reliable pattern) and i hopped in and alerted black service members to go long at 2.20. Price ramped up quickly on increased volume. I took my profits quick and sold at 2.35 and 2.71 near horizontal resistance. Price ran as high as 3.70 share even! Could have made some huge money on this if you bought on the breakout and sold at the top! But thats the fantasy world, no one does that except very rarely.
Technical Analysis :
We also made a quick trade on HERO bought at 7.05 and sold at 7.32 near the close. I had some excellent looking positions in ARRS, SOLF, and MF moving into the fed announcement yet got stopped out on the volatility after the 1/2 point cut.
arrs -buy: 6.06 Sell:6.12
solf- Buy: 5.12 Sell: 5.06
mf – Buy: 3.35 Sell: 3.27
Tags: arrs, ascending triangle, Day Trading, hero, lvlt, mf, mtg, solf, stock market
Technical Analysis Day Trading Review: LVLT and ITU – Pulled in Some $$$!!
Oct 28, 2008 Day Trading, Small Cap Stock Picks, Technical Analysis
Day Trading Stock Pick #1
LVLT
Was watching this stock along with several other members like semper trader earliar this morning as it was looking strong technically forming a bullish ascending triangle pattern on the intraday chart. Breaking above .90 indicated a likely move to $1/share.
I alerted Black Service members to go long at .90 on the breakout. Price then rallied near 1 where i alerted to sell 1/2 at .99 to lock in some gains as $1/share is a tough area to breach for penny stocks. But when it does it usually results in a quick move to 1.10 to 1.20 /share. Which is still in possible sight for LVLT this week.
I sold the second 1/2 of LVLT at .945 when it broke down the pennant formation and the market was weakening as well.
Technical Analysis :
Day Trading Stock Pick #2
ITU
ITU had another bullish ascending triangle pattern in force with a gap fill in progress that looked like it was on its way to fill on the breakout. I bought at 8.19 on a slight pullback to the 9ema support. Yet with the market weakening the the later 1/2 of the session ITU continued to fall and break down key ascending support areas which lead me to sell at 8.10 for a small 1% loss.
Technical Analysis:
Tags: ascending triangle, Day Trading, intraday chart, ITU, lvlt, Technical Analysis
