Thursday, May 27, 2010

Gap Play - MON

Today I played MON as an earnings play. Reasons were:
1. RS to market - Market gapped up strong, this one was down
2. Good base on prior days
3. Down from a whole number
I shorted this stock at open and bought it back as shown in the picture.
Though it was not the best gapper today, it played well for a good 3.5R.
Better gapper today was NTAP and PAY both were earnings stock.