Saturday, October 23, 2010

It was an incredible Friday! REE, RITT, ANTP

RITT, REE, and ANTP made my day Friday! RITT opened at $3.30 and hit a high of $5.70 (73%) before it closed at $4.88. My initial entry price was $2.00 on 10/21 after hours and I bought a few thousand at$3.50 and $4 on 10/22 and exited around $5.25 and bought the same volume of shares again at $4.40 and sold them all around $5.40. I did not send the alert as soon as my system filtered it because it was after hours and I was not really sure if I did the right thing (buying RITT at that time)....most of the fast and furious traders who go by momentum first follow the trend and then they look at the fundamentals :) and I did the same thing but after digging into some details I though it was worth mentioning on our blog. Anyway if you are a smart trader you would have made at least 50% on your investment. I made some big bucks on round trips of RITT.

I will send a special alert on RITT based on its trend next Monday, 10/25 so please stay tuned.....

REE - I closed the puts position between $1.50 and $1.65 for about 70% profit. These puts were bought at .75 as disclosed in this alert. Since the stock was beaten down so badly, I wanted to play the dead cat bounce game and alerted our subscribers when it was trending up around $9.75. This is the price where I bought it and got out of it at $10.50. My target was $11 for that day and it almost got there.

REE's trend was parabolic couple of days ago and this is a best example to say that the prices of any commodity or stock tops out at certain point when it is in a parabolic trend. In my opinion the price should settle down around $8 and predicting that it might even touch $7.50, I bought some Jan 2011 $7.50 strike price puts for $1.15. I might quickly close them and go long if I see any reversal...

ANTP - I loaded some more ANTP at $5.40 and sold them at $6.20 and holding the remaining half that I bought initially. It would be foolish if had not ring the register on profitable trades. However, based on the RSI and momentum and other technical aspects, I predict this stock going to $9 soon.

That's it for now. Good night guys.

A general Caution and Advise -As I always advise in my posts, Do not chase stocks. please keep in mind that I am not a Stock Market Analyst or an Investment Adviser to count on my recommendations/alerts. As always please do your DD before investing or speculating, start with a small position, always keep your stop losses in place and emotions out. Finally thank me for your profits but do not blame me for your losses because you are the one who pulled the trigger!!!

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Who is Mr.Incredible?

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New Jersey, United States
Mr.Incredible is a Momentum/Technical Breakout player who trades small/micro cap plays and who saw a 600% Growth since 2006, Yes even in this down market. I am going to post my real trades (including profits/losses) soon...As a general caution and advice Please start with a small position and always keep your stop losses in place just in case....As usual Do your DD before investing. Thank me for your profits and don't blame me for your losses because you are the one who pulled the trigger!!!