TIVO- Remember Me?

BellaMike Bellafiore's (Bella's) BlogsLeave a Comment

One of the great things about being a trader is you get to trade whatever you want whenever you want.   I haven’t touched TIVO in years.  Honestly I cannot remember the last time I traded it. Why would I want to?  What is it’s intraday daily range?  Ten cents?  But I did today.  And it offered a few great risk/reward opportunities.  Let’s discuss.

For the really young who do not know what a TIVO is, it is the thing that came before those fancy DVR’s.  It was a status symbol for traders like Steve and me as we attempted to woo women (respectfully of course) in our younger years.   I needed a lot more help than Steve.  It was the coolest recorder after the video recorder.   And yes we did have TV’s back in the day wise-asses.

TIVO won a patent appeal and it gapped up premarket.  It was trading above 10 premarket, then traded below and hovered.  TIVO could not trade above 10.  And then it did.  Bella long TIVO.

Since the stock moves one penny at a time I will only position trade TIVO.  I am not interested in making three cents by catching a move in TIVO.  At 10.25 one our interns Krysten twittered that this was a huge level.  Check for yourself.   TIVO could not trade above.

Finally TIVO broke 10.25.  Long more Bella.  And I held.  TIVO traded up towards 50c and I took some off the table.  TIVO traded up towards 82c and failed.  I set stops for 60c and 49c.  Bella stopped out.  Oh well.

TIVO would not trade below 50c, created a green candle to 60c, Bella long again and holding.  I am still long.  I just added some more in the after-hours at 43c.  And kicked it out 57c.  Hey I wasn’t doing anything other than writing this blog so I made the dopey trade.

TIVO was not strong into the close.  But it did not hit my stop because the market was strong into the close.  Hopefully TIVO will gap up in the AM.  If not I will exit, gather information, set important price alerts, and probably take it off my screen.

TIVO is a stock I only trade if it has exceedingly interesting fresh news, has a significant premarket move, starts a clear intraday direction, and has significant room to continue in this trend.  So like today for example.

Don’t forget to DVR The Office tomorrow.

Best of luck with your trading! Don’t forget to follow us on twitter.

tivo-06-03-09

Leave a Reply