Recap for Monday the 8th of September
Posted Monday, September 8th, 2008 11:10 PM in DailyRead, Recap by IL-Editor
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DSL didn’t end up having a second day in it, weakness kicked in right out of the open, closed near the low of the day

STSI another sell off today followed by a gradual recovery into the second half of the trading day.

COIN tested previous highs but was unable to break the $7 mark, low volume, a good trade from open but other than that it was too slow and gradual for an intra-day trade

KEY closed up 6% hit a high of $14.33 bounced off hte $13 support and headed back up towards $14

AROW another 52 week breakout over the $26 level before selling off a bit

TGIC great short from $4.24 this morning, hit as low as $2.41 and closed down about 17% on the day

UAUA great short over $11.70 tested $10.70s from there representing a possible $1/share short, many other trading opportunities along the way for .20-.40

BIOD turned out to be a great reversal from $2.48-$2.50 range towards $2.80 for a quick .30/share

GE a value play added today held gains through the day as the market was selling off into the lull

FNM and FRE confused everyone today and turned out to be a waste of time watching them as it was distracting to other potential plays setting up. Towards the end of the day I short at .9699 covering at .9505 - from there it went straight to .76. It was a very tough play today and much better just tracking other stocks with charts setting up rather than trying to catch the bottom and short the top of both.





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