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mattman bottom bouncers

post #1 of 26
6/16/09 at 6:34pm
Thread Starter 
I like trading the dead cat bounce on stocks that are down more than 20% on the day. The way I do it is wait for a TA formation and then set my buy and SL orders at the same time.


The first one I am watching is MMR with a buy order in if it breaks 6.01 with a SL at 5.80
This is a low volume stock so it will be a quick trade so I can get in and out and not have to worry about not being able to sell.

If it does not hit the 6.01 mark before todays close I will forget about it and move on to the next
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post #2 of 26
6/16/09 at 6:39pm
Thread Starter 
another one i am watching is APWR with a buy order in at a break of 10.35, SL 9.95
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post #3 of 26
6/16/09 at 6:54pm
Thread Starter 
in MTXX at 6.04 was haulted now back open

EDIT: its VERY volitile so trade with caution
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post #4 of 26
6/16/09 at 6:58pm
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doubled position at 6.02
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post #5 of 26
6/16/09 at 7:00pm
That thing is wicked.
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post #6 of 26
6/16/09 at 7:02pm
Thread Starter 
Quote:
Originally Posted by prodigy View Post
That thing is wicked.
its giving me a heart attack but im looking for an exit around 7, i hope i can withstand the pressure. 6.30 right now...
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post #7 of 26
6/16/09 at 7:04pm
Quote:
Originally Posted by mattman27 View Post
in MTXX at 6.04 was haulted now back open

EDIT: its VERY volitile so trade with caution


Quote:
Matrixx Initiatives confirms it received a warning letter from the Food and Drug Administration
2:34 PM ET 6/16/09 | Briefing.com

Co received a Warning Letter from the FDA. The FDA has asserted that the co is in violation of its regulations by failing to file a new drug application for its Zicam Cold Remedy Nasal Gel and Zicam Cold Remedy Gel Swabs and that those products are misbranded under their regulations for failing to adequately warn of risks. The FDA referred to numerous complaints it has received of anosmia associated with the use of these products. The co believes these products are safe and do not cause anosmia. The co's position is supported by the cumulative science and has been confirmed by a multi-disciplinary panel of scientists. The Company believes the FDA action is unwarranted and is in the process of determining its response, which may include removing these products from the marketplace. These products constituted approx 40% of the co's net sales in 2009. (stock is halted)
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post #8 of 26
6/16/09 at 7:13pm
Thread Starter 
out at 6.27, the bounce didnt happen like i had hoped for, trading sideways after a big drop are flashing red lights for me to get out. made a little but not what I was expecting. profit is profit
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post #9 of 26
6/16/09 at 7:30pm
IN MTXX AT 5.86 ....planning to get out around 6.80
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post #10 of 26
6/16/09 at 7:32pm
Thread Starter 
Quote:
Originally Posted by HitnRun View Post
IN MTXX AT 5.86 ....planning to get out around 6.80
nice grab! i thought about it but i was still rocovering from my first trade if it doesnt break 6.65 on this move up be carefull and take some profits off the table. the news was horable and it could go lower of you hold through the night.
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post #11 of 26
6/16/09 at 7:33pm
this thing is giving me a heart attack
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post #12 of 26
6/16/09 at 7:39pm
Thread Starter 
Quote:
Originally Posted by HitnRun View Post
this thing is giving me a heart attack
at least im not the only one
I want back in because I still think we are due for a bounce but this sideways trading is not a good sign. ill look to enter if we test the lows again but if not ill let it move up without me. GL
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post #13 of 26
6/16/09 at 7:46pm
got out at 6.33
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post #14 of 26
6/16/09 at 7:48pm
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Quote:
Originally Posted by HitnRun View Post
got out at 6.33
nice

if we dip to new lows ill be looking to get in again. I dont think we still go that far below where we are so ill be looking for around 5.40-5.50
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post #15 of 26
6/16/09 at 7:54pm
Thread Starter 
I just picked up a small position at 5.59 lets see if we can get some movement in the AM
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post #16 of 26
6/17/09 at 1:33pm
Thread Starter 
Quote:
Originally Posted by mattman27 View Post
I just picked up a small position at 5.59 lets see if we can get some movement in the AM
still holding that MTXX position and added pretty heavly at 5.75 at the open

EDIT: In STSI at .955 as well, it broke the .95 resistance which looked nice
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post #17 of 26
6/17/09 at 2:37pm
Quote:
Originally Posted by mattman27 View Post
EDIT: In STSI at .955 as well, it broke the .95 resistance which looked nice
ouch
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post #18 of 26
6/17/09 at 3:28pm
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Quote:
Originally Posted by bigbadbuff View Post
ouch
im still holding, im using my profits from MTXX to offset any losses on here and im still up overall on the day so im not too worried
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post #19 of 26
6/17/09 at 3:35pm
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out MTXX for a nice profit

still holding STSI, currently at .95 so im even, looking to sell around 1.10

edit: out STSI at .99 for a small profit
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post #20 of 26
6/17/09 at 5:05pm
Quote:
Originally Posted by HitnRun View Post
IN MTXX AT 5.86 ....planning to get out around 6.80
You still in? At least it's green right now.
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