April 19, 2006

NutriSystem Inc. (NTRI)

NTRI was my big winner today (7R profit). Good days seem to always come in pairs.
I was lucky and learned a lesson from my stops yesterday. I had a stop in at $50 for NTRI, but adjusted it down to $49.59 just in time - within minutes it dropped to $49.75, only to turn around and hurry to new all-time highs. Maybe someone was bringing it down to take out stops to collect more shares for the ride up.

Early on I was stopped out of ENER and HOLX for -2R loss. I have a new policy to prevent the Big Loss days - I call it "3 strikes and you're out." If I have three closed trades on the day, I don't allow myself to initiate any more...

This way I can still have big days like today without ever having a really bad day. With two closed trades early on, I was careful to buy only a very nice setup.

My second biggest gain for the day was AKAM (4R profit):

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