When you set an alert, make sure you pay attention to it. Otherwise, you’ll have “the one that got away” stories. Here’s your trade on $FOXF, $FIZZ and $RARX. (March 11, 2019)
I want to talk about Fox Factory ( NASDAQ: FOXF ) but first, before I do let’s take a walk down memory lane. FIZZ ( NASDAQ: FIZZ ). I mentioned this in the Chart of the Day over the weekend, that FIZZ ( NASDAQ: FIZZ ) sold off so much that the real buy point here on Monday would be if the stock surpassed the high of 58.83. And so this morning the stock actually gave you an entry at 58.20 if you are just looking at the open.
What I am saying is, you could have actually bought the stock a little bit lower than the entry point if you were confident. But even if you didn’t and you bought the stock when it pushed above the high of 58.83 ultimately you get a nice little move here of about $2.00 or so.
The reason I am pointing this out is because this morning this actually turned out to be a pretty good trade and some of the guys in the forum made this trade. It was really quick; it was done well before 10:00, this deal is done at 9.50. By the time 10:00 rolls around the buyers had pretty much left the building and traders did too. So types of oversold bounces totally work, they work really well and we are finding a lot of them.
Here’s the one that got away; Ra Pharmaceuticals ( NASDAQ: RARX ). I was looking at this stock way back in the day. I am seeing that kind of thing; I actually drew this trendline back on the 11th but I extended it. My idea was, I don’t know when this stock is going to bounce through this trendline but if it does I want to be there. A couple of times back here my alert pinged and I looked at the stock and I went, Oh not yet, not yet. And then last week, ultimately, the stock blasted off through the trendline here.
On TC2000 you can set your alert based on the trendline; just say, tell me when the stock blows through the trendline, which is nice because then if you decide you want to change the trendline for whatever reason, oh, I want it there, you don’t have to change your alert; the alert just sits right along the trendline.
I was looking at this stock, I never did anything and then on Thursday, as luck would have it, when my alert went off I had a lot of other stuff going on, I had a lot of other alerts going on and I didn’t see this thing. And then Friday the same thing, I didn’t see it, I didn’t see it until over the weekend. And of course, what am I going to do? I am not going to buy this thing now.
Why am I pointing this out to you? I didn’t make the trade so it’s not like I am patting myself on the back. I am pointing this out to you to tell you if you set an alert pay attention. Do as I say, not as I did because this was a great trade. It was actually VERY, VERY clear, VERY clear. BOOM! Big volume, twice average volume; buy this puppy and then now it is up here. So if you set a price alert have a note there somewhere so you know what the heck you are supposed to be doing when you get the alert.
Now with Fox Factory ( NASDAQ: FOXF ), it had a similar trendline here and I have just been watching the stock. So finally today, after this aborted move here, finally today the stock gapped up to 65.00 and kept going. I am looking at this saying, “Alright, if the stock pulls back a little bit, maybe a point or two, if the stock pulls back that’s when you want to look to buy the stock.” I think Fox Factory ( NASDAQ: FOXF ) ultimately runs up to 75.00, which will be another 10 percent or so. I think the stock works, it’s just that after it’s been up really two days in a row, not that much in magnitude but as a percentage basis of what the stock usually moves this has been a pretty good move. I think you can maybe wait for a little bit better entry, but ultimately I think Fox Factory ( NASDAQ: FOXF ) goes to new highs.