Thursday, August 10, 2006

Collective2: RICK and HMSY out

Some dicey action in RICK saw an end to its attempt to break $7.50 resistance. The stock did find support at the 50-day MA, but closed below its previous area of demand at $7.25. The 1,250 share lot closed for a loss of -$550.

The second pick, HMSY, was stopped out intraday, following some light volume action. The stock was able to close above what I would consider support at $11.50 (although on a 10-min chart, it failed to end the day above support, in this time frame, at $11.80). But given I use fixed stop prices, the play was stopped out at $11.49 for a +$970 gain on a 1,000 share lot.