Tuesday, March 22, 2011

Review of Daily Bouncer Watchlist 3/22/2011

Watching todays bouncers in action reminded me of a strategy I haven't highlighted yet on this blog. I use it often and it just about doubles the amount of opportunities available for high probability trades. I highlighted this strategy in the post "Taking Advantage of the Bouncer Setup No Matter What Direction the Stock Heads" and I will try to post the levels that seem to be good buys and good shorts from now on. OCLR and GLNG would have both been good plays today using that strategy. ENER shot up quickly, but was not really a good opportunity unless you were quick to sell. That is one reason I usually avoid the lower priced stocks, because unless you are quick to sell you can easily lose your shirt. MHS was a nice play today as hit a high of $53.84 after breaking through the $53.00 level that would have been a buy signal.

Here is the intraday chart for MHS

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