posted
Like I said before... "SVSE broke its upward trend. But since nothing has changed, Pipeline still coming on-line, and Alberta wells in testing, whats to worry? Holding long term." In hindsight I wish I would have sold the first day it broke trend. I could have picked up a lot of extra shares. It's easy to look back in hindsight.
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posted
well, the mms reset their positions a little since then, i was going on Lev2.... BUT, 1.01 is still in sight....and somebody is buying during lunch...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
whose going to buy me a round of drinks? hehehe
Just dont forget to put stop/losses to limit any losses and protect your profits .. if you dont and the trade goes the other way you better believe i'll say i told you so lol ...
-------------------- Let the world change you... And you can change the world.
Probably the hardest part of the trading day for most new and basically any trader is going to be the first 15 minutes of the trading day.
There are lot emotions that run high during this period. For me personally I have always tried to find ways to try and keep my emotions from getting out of control so I don’t make bad trades. Especially in the first 15 minutes of the day.
Through trail & error over the years I have come up with some strategies that work for me.
THE 10-MINUTE HEAD FAKE ON THE OPEN: I am starting to see this more and more now. This Market Maker Tactic (IMHO) is to shake out a lot of weak longs especially in a hot stock.
I will give you to 2 great examples of this trick.
AGIS: yesterday (11-07-2003) first thing MM”s did is they gapped it down, that was there first scare tactic. Now what we are going to focus on is the opening price for agis.
The opening price was .271 first print of the day. Remember stay focused on the opening print .271. Here comes the 10-minute head fake. The stock makes a low @ .20 in the first 10 minutes of day. I am watching this all happen on my level 2 screen BTW. AGIS makes a bottom at @. 20 now here is what I am looking for on a reversal. As soon as I saw the reversal happening I started buying in @ 23-24 and picked up 10k shares for this trade. Remember pay attention to the opening price of .271. That is my guide through this whole process.
Once AGIS traded through the opening price of .271 the stock exploded and within basically 1 hour of the trade it traded as high as .75 cents. I had personally had gotten out .70 and I was done for the day. This trade will last usually 1 hour.
What are the key points? Stock makes a bottom in first 10 min. then comes back and trades through and closes above .271 the opening price within about 5-10 minutes after it making the bottom at .20. My stop loss is .20 if breaks .20 I am out for a small loss. My risk was $400.00 but my reward was over $4500.00.
Another point I will make is I will only make this type of a trade in a hot stock that has a lot of volume. A lot of liquidity.
Another point is it that the stock has to be above the 5 & 10 day moving average for this kind of trade. It has to be in full motion.
FNIX: (11-03-03) Another great trade. The 10-minute head fake was on this stock as well. Opening price .93 within 10 minutes makes a bottom @ .83 I buy 10K shares @ .86 again are main focus is the opening print of .93. The stock explodes through .93 the opening price and hits a high of 1.19 within 1 hour of hitting a bottom. The MM”s can kiss my butt. Money in the bank. More head fakes please. You need to use level 2 for this type of trading, if you don’t have it get it. Risk 300.00 Reward 3,000.00
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
i keep checking the insiders activity and the SHO list...all systems look good... i didn't expect it to double overnight...
but that round will have to wait 'till we see 1.20$ in my book...
if oil stays up it looks even better.... i swear i hear people mentioning 70$ barrel all the time now..(no i don't like it, i just trade it the way it IS)
i was busy with ASTM today so i didn't really watch the trades that close....
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
Holding nicely this a.m. Not many on the ask @.92 then it's (.95x2) (.96x3) (.97x1) then jumps to (1.01x5) alittle volume & we're at a buck!!GLA.
-------------------- Greedy Because I'm Broke!!
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posted
After looking at the pro`s and cons, its surelyhas to look very promising with an eighty million dollar company plus, being able to profit 1 1/2 million a year from every well in drops in the vacinity of the first one. If you want to figure the simple math, one well every two months and paid for in just six months! How sweet can it be? It might look like a Texas playground of oil dericks!
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posted
Never really thought of that JTex.I could've got out a few times this week,I mainly trade daily but this one seems to have long term effect on me.Any Prejections?I'm thinkin with the wells producing this year,more goin in & oil prices up, this should easily double within a year.My thoughts....
-------------------- Greedy Because I'm Broke!!
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-------------------- Don't envy the happiness of those who live in a fool's paradise.
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