what does slumberge mean? i cant find it in the dictionary...
anyways is that quote from Cramer good news for me?
Machiavelli, i would really appriciate it if you could explain the RSI 50 with a chart. I would be the most kindest of you.
Posts: 202 | From: Hong Kong/Birmingham | Registered: Jun 2007
| IP: Logged |
quote:Originally posted by Machiavelli: ok that sux... I hate when I'm right and peeps lose money... like with XOM jk Anyways I love my RSI 50 theory..
I do too Mach... on both counts. I thought it would spike a lil bit more but dems da grapes.
Good luck Toothpick. Good first lesson eh? At least it went up and back to square instead of down and down...... Good to have a plan before you start. And stick to your plan with a finger on the trigger just in case.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
posted
i never doubted you mach! i guess the proper thing to do was to sell just before close last night and loaded up again today.
Posts: 202 | From: Hong Kong/Birmingham | Registered: Jun 2007
| IP: Logged |
posted
There are a few things to consider. Tax's are pretty ripe for a short term hold. Some would say you could have sold completely out when it went over 85, or some would say leave some in but take profits out. Some may say you may be asking about averaging down Vs. selling completely out at a loss or just riding it out in hopes it will return to the upper 80's or even into the 90's. Some would also say turn off the putter and don't look at it for a few months. Who knows. Some might also suggest that you leave XOM and find something else. One thing I will say - if you can't afford to lose it, don't put it in (blue chip or pink sheet).
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
posted
yep i am still in. i consider buying at 83.10 pretty good to hold for a while, i actually bought at 81.87 and 81.81. However, i forgot to take in to regard the price of trading so it totalled at 83.10 lol.
My first lesson as when you play virtual ones, your capital so xxx.xxxx that it doesnt really matter. but when capital is x.xxx, it makes a BIG diff lol!
so guys, should i carry on watching it with regards to the RSI 50 and if their is no special news sell at around 85-86 and ride it down to the 83-83's?
please give me some advice.
kind regards,
Posts: 202 | From: Hong Kong/Birmingham | Registered: Jun 2007
| IP: Logged |
posted
I guess it must be because you've only bought a small number of shares. The more shares you buy, the less per share the trading fee turns out to be.
Not sure which companies let U.K. trade, but Choice Trade is only $5.00 per trade, that would help you out on small orders.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
| IP: Logged |
posted
it's tough to take profits if you have to increase major %%%%%% to clear commissions. (not that I needed to mention that I'm sure). Great gains on xom.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
posted
i am correct in saying the next resistance is at 87 and i should hold on till then. if it does dip sell and wait for it to bottom and stock up again?
is that what you professionals will do?
Posts: 202 | From: Hong Kong/Birmingham | Registered: Jun 2007
| IP: Logged |
quote:Originally posted by toothpick: what does the resistance look like on RSI 50 now?
has it changed much and how should i play it now?
Still at Resistance of RSI 50 pretty much. It's slightly over the 50 line but not by much. Do not be surprised if it pulls back on Thursday. Even though it did a nice gain today I still wouldn't buy it till it breaks RSI 50 for sure and began a distinctive uptrend.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
| IP: Logged |
quote:Originally posted by toothpick: i am correct in saying the next resistance is at 87 and i should hold on till then. if it does dip sell and wait for it to bottom and stock up again?
is that what you professionals will do?
Using big charts with momo, rsi, macd and BB - flip through 5 day (5 min), 10 day(5 min), 2 months (daily). You can see resistance and support and average out where the walls are. If something looks really hot during a play I will follow even the minute chart with big charts. RSI actually hit 80 yesterday and bounced right off the 50. imo many of the indicators look pretty good. Needs to break free of 85.50, it seems to have walls about every .25 on the way up with decent support at 84. It's a major struggle between the bears and the bulls right now imo.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=&time=&freq= should be a couple interesting days. Things can still change in a heart beat. You can have a short term plan and a long term plan - taking some profit and then when it dips major (back into the 70's) add to it again. I would recommend that you don't have all your eggs in one basket though. A little diversity can save your ass in the long run. Cheers.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
posted
mach do you think i should let go today? what do you think i should set my limit at? of course i dont soley rely on what you say, just incase u find that i am giving you pressure, sorry
Posts: 202 | From: Hong Kong/Birmingham | Registered: Jun 2007
| IP: Logged |
posted
oooooooooooooooo back in to the 85's lol, have i missed my chance?
Posts: 202 | From: Hong Kong/Birmingham | Registered: Jun 2007
| IP: Logged |
quote:Originally posted by toothpick: oooooooooooooooo back in to the 85's lol, have i missed my chance?
lmao.
you can drive yourself nuts watching these things. btw, imo the buy/sell sites that say buy/hold/sell are a little slow responding to trend reversals so should just be taken as another sense of direction imo. with every new tick there is a risk level. When I start leaning to "hope" this or "hope" that then my risk level is pretty dam high. I'm still learning myself.
good luck M8
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
quote:Originally posted by toothpick: mach do you think i should let go today? what do you think i should set my limit at? of course i dont soley rely on what you say, just incase u find that i am giving you pressure, sorry
Honestly... I wouldn't buy it right now for a swing/position/long trade as long as it's not keeping above RSI 50 dinstinctively. But for scalping/day trading I would.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
| IP: Logged |
quote:Originally posted by toothpick: oooooooooooooooo back in to the 85's lol, have i missed my chance?
lmao.
you can drive yourself nuts watching these things. btw, imo the buy/sell sites that say buy/hold/sell are a little slow responding to trend reversals so should just be taken as another sense of direction imo. with every new tick there is a risk level. When I start leaning to "hope" this or "hope" that then my risk level is pretty dam high. I'm still learning myself.
good luck M8
Like I said "Hope" as much as "Fear" and "Greed" are your enemies in this game...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
| IP: Logged |
posted
3 day weekend!! lots of partying. oh, and and auto auction. next week we should see the market pick up a bit.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Razz]](tongue.gif)
jk Anyways I love my RSI 50 theory.. ![[Big Grin]](biggrin.gif)
