RamtaJogi— Hacking Life for Money and Fame.

Once again, I didn’t do any trading, I only watched how my potential setup performed.

From my yesterday’s post, ACUS finally broke down on the 6th day. In fact, it dropped by 17%, going from 0.65 to 0.52. Also volume dropped sharply. If volume doesn’t increase tomorrow, it should fall further. I kind of feel that this was a pump and dump which Tim talks about. If you look at it, the stock started moving because of review of their product by FDA. Now that review is going to happen in December but stock is moving today, in month of October. It doesn’t make any sense. If you see the daily chart for today, there was a big sell off in first half hour itself.

ACUS October 16th Aftermath

Another interesting stock was DAL. It didn’t budge today as well and kept moving up. In fact, out of last 5 green days, it made the biggest move today (up by 18%). I am not the one to fight momentum. But it’s highly likely that DAL should come down tomorrow as it is going to test the resistance at 9$. If at all it crosses 9$, it will test the next resistance at 10$. I doubt it will go above 10$ mark. I hope it moves up tomorrow, that way, I am ready to short this baby on Monday.

DAL October 16th Aftermath

Not oly DAL, several other airline industry stocks are moving up. Just look at this:

Airlines are Up

UAUA moved by up 40%! I it broke the crucial resistance level of 10$ and it’s quite possible that it will try to touch 14$, the next resistance level. OR if people starts selling, this could tank tomorrow by dollar or two. Definitely one to keep an eye on.

UAUA - Potential Setup for October 17th

I found AAI to be even more interesting than UAUA. It broke the crucial resitance at 3$ and zoomed in last 1.5 hour of trading. I think it’s very likely that it will continue the momentum tomorrow as there is no clear next resistance level.

AAI - Potential setup for October 17th

That’s all for now! Will update tomorrow.

Happy Trading!

RJ.