Beanie11111: SIMC: Trust me, this one is in play.

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Location: USA

The last few years have been great to me, as i was able to clobber the S&P500 many times in returns. But of course, you can't make a living trading the markets if you don't make great great returns. I'll try to give my readers trades that i think will make them money. However, you need to have money management skills, in order not to lose everything on a greedy or stupid trade. I may or may not already be in the trades i recommend. I may or may not trade the stocks i recommend. Due diligence is required on your part and the usual disclaimer that i am not responsible for your losses always apply. I have no affiliations with any broker/dealer and all posts are for educational purposes only. Remember to 'refresh' the home page and the "Comments" pages frequently in order to receive updated posts. Let's rock!

Friday, April 01, 2005

SIMC: Trust me, this one is in play.

I thought it would go lower towards the close, but it stayed in the high 6.

I have good reason to believe they will run this one next week. Any time it trades above $7 again, you can be almost certain that it will go higher. Buy on Monday on any gap down!

I currently do not have a position. On a big down day like today i am more careful with support/resistance levels, and hold less positions. Traders were shorting and selling SIMC all day because the market wasn't healthy. You should too (sell at resistance levels) on down market days!

However, i believe SIMC will touch $10 next week. If you just held today and did nothing, it's gonna turn out in your favor nevertheless.

4 Comments:

Alan Ji said...: Beanie,

ISON annouanced in AH that they have signed "letter of intent" to acquire a German institute/company. Can you comment on how the stock will likely move within the next few days especially on Monday?

-Alan; Sat Apr 02, 01:47:00 AM EST
beanie11111 said...: Alan,

I don't see this as a significant event for ISON. The acquisition is for only $1.4 million in cost. That German company is a very small outfit if ISON is paying on $1.4 million. It's not gonna add that much more revenue to ISON and it definately won't help with the losses. ISON is already working with the German company for awhile now in the development of the bomb detection device. Nothing new offered here, except small share dilution to ISON. Traders might run it a little on Monday, but i doubt i would go that far. I doubt it will break $3 on that news.

Just my opinion..; Sat Apr 02, 11:31:00 AM EST
beanie11111 said...: This comment has been removed by a blog administrator.; Sat Apr 02, 12:57:00 PM EST
beanie11111 said...: This comment has been removed by a blog administrator.; Sat Apr 02, 01:19:00 PM EST