Wednesday, November 7, 2007

ONXX- Beautiful Trade

Very pleased with with my performance and how I handled ONXX. I watched to see which stocks were being accumulated right at the open and ONXX shi9ned right away up about 50% in daily volume in the first 5 minutes of the open. Pulled up the chart and saw it had some resistance to break through at 52.50 before I'd get in.


A few minutes later, the next thing I know it's up at 53 and jumping around higher. I waited for a small pullback and got in at 53.05. Saw a nice move right after that as the buying volume kept pouring in and sold half my shares at 53.71 and raised my stop to 53. I let the last bunch of my shares ride it out until it either looked like it might reverse or hit my imaginary trailing stop. It kept rising and when hit it 55 I raised my trailing stop to 54. Right after that It seemed to pullback pretty hard and got down to 54.02 not exactly my stop point but I sold when it hit that point and got out at 54.12


Right after that it looked to jump higher. I should of held my ground and waited for it to really hit my target of 54 instead of chickening out and bailing when it was only 2 cents above it. Could of extracted a little more but overall, I'm very happy with my performance.


onxx trade chart

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