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Monday, April 10, 2006

Update - FLWS CRYP CHTT

So I was a little too cautious today. I tried to short 700 shares of FLWS at $7.90 since the price was creeping up to that level near the 9:30am open today but it never quite made it. I was very conscious not to chase the price today because I could have got a short in at $7.80 if I had just lowered my sell price. The low of $7.51 (so far) was hit within the first half hour of regular trading and could have been a nice profit. I was a little surprised to see this one climb as it did before the opening bell. It did have a dip right at the beginning of the pre-market from $7.75 to $7.56. I am certainly kicking myself on this one.
Update: FLWS closed the day at $7.76. This shows me, once again, that after the inital drop from its high that it is a crapshoot as to where it might go next and why I prefer to only do my shorting of Cramer's picks the next day for the inital drop, and not bother with it after that.


CRYP had a big drop all the way to just after the opening bell from $28.20 to $27.30. It has since moved back up to the $28 level. Since this one had climbed after hours I was a little concerned, but it looks like it would have been a good trade. So the last 2 stocks that have climbed in the after hours instead of levelling off have produced rather large drops the next trading morning. KRY if you recall climbed after hours, and then in the pre-market it went from $5.50 down to $4.90 before going back up again. Definitely something I will have my eye out for next time.


CHTT traded very thinly in the pre-market, but declined quite a bit until the opening bell where it has been a little up and down. Since there was so little trading, it would have been hard to get a short in because of the large gaps in the bid and ask prices.
Update: CHTT closed near its low for the day after hitting its high of $38.45 at 10:19am. The stock closed at $37.64.


If anyone is checking for my analysis of Cramer's picks tonight, it will be a little late this evening.

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