1. ARQ- After the decent gap up, this stock went sideways- with a RETURN ON INVESTMENT of 160% after broking I chose to exit.....the other option here would be to use the weighted moving average as a stop loss/exit- I like to 'take the money'. I entered this trade based on a penant formation, a strong bar out of the weighted moving average, a higher low, a RSI crossover and above average volume.
2. MRE- the one that got away! I was on a train when this presented itself- if I had done my normal 'market close scan' I probably would have been on board- a gap up of 60cents- to achieve 100% ROI-immediately! Reasons for entry:
Strong bar over weighted moving average, RSI-X, strong volume, support area/double bottoms.....and off it went.
Back to reality!
AXA- this one COULD have done something- max profit of sixteen cents-but alas not to last - Stop loss was moved to entry after the stock started moving. reason for trade:
Strong bar short through Weighted moving average, RSI-X.
4. ZFX- still shooting away-suspecting it has to end soon ,currently showing a 168% ROI- stop loss is at 100% ROI at 16.50.
5. OXR- a couple of nice moves after a week or so of sideways action- bring it on!
Paul J Penton is CEO of http://mymillionairebuddy.com - free wealth creation resources.
