December 1, 2006
Crazy Play Du Jour — Xenonics (XNN)
(Read through the Dummy Lessons if you’re not already a Dummy.)
Cat: | Time: 10:36 am (utc+8)
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December 1st, 2006 at 12:39 pm
Nice. Looks like I’ve got a serious problem. Didn’t see it cos of volume settings. Btw, AMEX stock..?
December 1st, 2006 at 1:25 pm
CM,
Can you please expand on what you mean by “Dummy Dip”? I followed this stock all day and watched it from 1.90 all the way to 3.6. I kicked myself for not getting in around 2.20 when the real momentum started to build but I was too afraid of the volatility. Any comments or your analysis is appreciated.
TIA,
/amir
December 1st, 2006 at 2:33 pm
Eyal: Yeah, if you’re scanning “All US Stocks” you can see these Amex-listed things … see also PMU which one commenter recently mentioned. What is your unusual volume level set at?
Amir: If you read through the dummy lessons (should take you less than an hour) you’ll see that this stock set up very nicely: impulse move up followed by a low-risk inside bar to enter above, protective stop-loss below the swing low: a classic dummy setup.
December 1st, 2006 at 3:04 pm
Yes I scan for all stocks on both IB and QC. It’s set to 800K and I more or less finalize the list by the first half hour with a tendency to favour the pre-market movers.
December 1st, 2006 at 3:12 pm
CM,
Curious, what dollar amount would you have traded on such a stock? Being such a cheap stock but with a lot of volume and volatility would you have traded in the $10K range, $50 K range, over $100K..???
TIA
December 1st, 2006 at 3:36 pm
Eyal: you mean 800K within the first X minutes, or on track to do 800K a day?
Amir: This is a thin stock, $2 a share which is like a penny stock in my mind; I’m not sure how big the spread was because I wasn’t in there in real-time, but chances are I would’ve traded it small, probably no more than a couple thousand shares, if that.
December 1st, 2006 at 11:09 pm
Chairman, this is the second time I’ve seen reticence expressed about trading on AMEX. Another fellow I read on the web refers to AMEX as “a bunch of crooks”. What’s up with AMEX anyway?
December 2nd, 2006 at 12:59 am
lol stevegee58. Have a buddy that trades against the “crooks” at AMEX. You definitely enter the dark side trading on that exchange. 1 and 2 point shake outs are a frequent occurrence on sindle to double digit stocks. He holds a core and buys the dips. Not a game for the faint of heart .
December 2nd, 2006 at 9:04 am
stevegee58
The AMEX contains some of the most crooked and outright cheats that exist in any stock market. Trade there and BE AWARE. Those folks do not play fair.
December 2nd, 2006 at 9:29 am
I have noticed that I do get hosed, and fills take forever, even with fairly liquid stocks on the AMEX. I think I am taking them out of my scan. WTF is an intraday chart doing on your site CM? ;)
December 2nd, 2006 at 9:47 am
Don’t the AMEX stocks that start moving (like XNN) get active on the ECNs thus taking the market out of the hands of the AMEX? It’s been a long time for me, so I appreciate your insight on this, guys.
December 2nd, 2006 at 11:14 am
CM,
I am going to look into trading AMEX stocks a bit more. Perhaps using a volume filter is an option. I don’t even use Level 2 or NYSE Open Book. Anyone feel that they are really useful? I trade 15 and 30 min charts.
December 10th, 2006 at 4:40 pm
Witness the evolution of the next TASR!!!!!
XNN !
December 18th, 2006 at 12:22 pm
XNN 12/18, what is next for this stock? the latest rise on 12/11 was great, checked Edgar Online, why the recent sell off? Is this just “the AMEX way”? Maoxian, love the site!!
December 19th, 2006 at 7:05 am
xnn - id say either up, down, or sideways. but keep checking edgars- they are the holy grail