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Monday, March 13, 2006

March 13th - AVNX and ANGO

Well, Cramer picked another stock under $5.00 today AVNX. Avanex Corp.. This one closed at $2.30 and hit a high of $2.75 after hours...an increase of almost 20%. So not shortable for me right now and I don't see it going to $5.00 by tomorrow. I will watch and see if there is any sort of trend with this and if there was any significant drop. The stock closed after hours at $2.66.

Cramer's second pick was ANGO. AngioDynamics Inc . This one closed at $21.95 and went as high as $23.25...an increase of almost 6%. Now I actually had a short order in for 250 shares at $23.00 but got cold feet and cancelled. The reason I chickened out was because the high for today was $24! So I thought.....why short it at $23.00 if it was able to get to $24 today without Cramer mentioning it?!?! This put up a huge red flag for me and I was happy my order didn't go through before I cancelled. So, will this one go to $22.70 tomorrow? If it does, shame on me. If not, then I have found a new rule to add to my strategy. The stock closed after hours at $22.95.

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