Daiello's Momentum Plays

[daiello]

Starting up my own momentum thread as a majority of my plays are based on momentum.

I will try and post on this as much as i can during the day, and will also post plays which are getting attention during the evening and will may be in play the next morning.

Some plays may go up a few percent, some a few hundred percent, and some may go down. These are just some of my opinions and play them at your own will.

Also, if you havent played momentum plays, you have 3 rules.

1) TAKE PROFITS
2) TAKE PROFITS
3) SELL ON THE ASK, not the bid

Don't become a bag holder because you wanted more than a 10% or 25% gain.

Until you become experienced in watching L2 during these momentum plays, id say take profits as soon as possible. Once you are able to recognize what MMs and sellers/buyers are doing you may be able to grab a few more bucks per trade.

Good luck, and lets make some money :D

[Kuzami]

Sell on the ask...how does one achieve that?

[daiello]

If B/A is .05x.06, put in your sell order at .06, and not at .05.

Selling shows weakness, and allot of whackers come and the next thing you know its .03x.04.

Whackers show up on every run but i still like to tell people to sell on the ask.

[Kuzami]

Originally Posted by daiello

If B/A is .05x.06, put in your sell order at .06, and not at .05.

Selling shows weakness, and allot of whackers come and the next thing you know its .03x.04.

Whackers show up on every run but i still like to tell people to sell on the ask.

Interesting...didn't think you had a choice except to go by what the MMs have out there. I've had some bids out there that never got sold because they didn't reach the magic number...

[daiello]

I hope you dont use market order. You should be using limit order, when using a market order the MMs can take down the PPS and you can lose out big.

Also, depends on our brokers.

I know Etrades screws me over all the time.

B/A is .05x.06, i put my sell order in at .06, the B/A upticks to .06x.07, and still my order doesn't sell.

heading to bed, catch ya tomorrow.

[Kuzami]

Originally Posted by daiello

I hope you dont use market order. You should be using limit order, when using a market order the MMs can take down the PPS and you can lose out big.

Also, depends on our brokers.

I know Etrades screws me over all the time.

B/A is .05x.06, i put my sell order in at .06, the B/A upticks to .06x.07, and still my order doesn't sell.

heading to bed, catch ya tomorrow.

LOL hell no...I always use limit order

[daiello]

Possible Runners for Monday August 6th

PHAR .0115
A phone call is being made to the CEO tomorrow. Good news from the phone call should get this moving some more.

[Kuzami]

I was looking at that one too, for Monday the 6th though <grin> Going to give it a bit though and see where it goes...

[daiello]

Should be pretty good. I will post the information from the phone call here when i receive it.

Thanks about clearing the dates up :D

[daiello]

Monday's Runners:

PHAR @ .0115 still watching
RGNO @ .028 still watching
GCOG @ .0011 to .0017