Wednesday, July 12, 2006

Collective2: HRZ and FVE out

Two more stocks bite the dust as the NASDAQ 100 followed the semiconductor index with new lows. Expect the NASDAQ to follow suit soon. Difficult times to be a stock picker.

The following two stocks were knocked out yesterday. Unfortunately, one (HRZ) was a little too tight on the stop as the chart remains in good shape. The other (FVE) was a valid stop hit with no regrets - other than the -$531 loss on the 900 share lot.

HRZ had pushed solid gains from its lows of $13.00 to highs of $16.79. The last 5 (now 6) days have produced some tight trading, typical of a consolidation which follows the trend and should continue to do so. The weeks action allows for a low risk entry with a stop in the $16.10s, but for my purposes the 800 share lot has closed for a +$2,432 gain.