Trade review 3-15-10

We served some aces today:

QLTY

Boring, but clinical fade, once it fell to and took out the previous session close of 5.90. It dived near open, but a second chance appeared soon as it climbed back and failed there.

MSEH continued north, while AMOK panicked and faded, but I could not find shares.

IPCI

One failed spike and fading action all day. Just dandy. Again, no shares.

MRVC

Reached toward the highs of previous session, then failed and faded.

OMNI

Nice morning panic! I missed this entirely, which often happens when looking at other seemingly better plays.

HOLX and RXII get special mention. The first panned out, but no ideal pullback. The second  I believe tape painted out of the gun to print at one point at 5.65. Support was 5.80ish. A weaker entry than Friday's 5.85 touch presented itself to the chasing speculator, at 5.89. It went up the rest of the way. Again I did not play.

As so often happens, several in play yesterday remain in play, because they still have not offered entries.

It was a pretty boring day for me on balance. I spent it chatting with others in plays or considering entries. Lately I get PMs a lot in chat for opinions on stocks, so I am used to distractions. You can visit me by joining the room during market hours at http://timalerts.com/chatroom/

I nearly died of boredom, so I kept my hands to myself, following my rule of not forcing things for action.

Sykes, short in IPCI, got squeezed momentarily on a short lived spike. I do not play his alerts with real money except in rare cases as I have mentioned many times. I tried to paper a scalp of the bounce, played it ok, but the notorious IB time lag reminded me yet again why I should never use it for scalping simulations. I got a so-so entry and it exited me with a tiny loss 2 and a half minutes later.

BOT    200    IPCI    Stock    4.16    USD    ISLAND    08:42:58        1.00
SLD    200    IPCI    Stock    4.155    USD    ARCA    08:45:24        1.00


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