posted
So,with the news on FRPT out it seems like a buy now close to 10am monday after others jump ship to drive the stock down a little more? Which stocks do you own other than those 5 Jo?
And, of course, the one stock I shorted has done nothing but gone up, even though the chart looks like it was overbought. (swc)
Jo
I always told you never to short a stock that is over the RSI 50 line Jo. And if you do so because it's in overbought territory then you wait for confirmation (a reversal/bounce off the ceiling). Wait for RESISTANCE before going short.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
Guess I jumped the gun on that one, mainly because it looked so overbought, I figure the "confirmation" and the big drop are going to be instantaneous. There probably won't be time for confirmation when it happens. It's gonna happen quick. (at least that's the plan!)
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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quote:Originally posted by Jo4321: I'll give ya the top 5 losers here:
RJF FRPT JSDA GME SIRF
RJF: Below RSI 50 and in a obvious downtrend. Should of been shorted and not gone Long. Dump it and rebuy perhaps when there is a trend reversal.Note: look for the BOUNCE near or at RSI 20
FRPT: Dump it. Should of been dumped when it crashed below the RSI 50.
JSDA: Dump it. Look at what I wrote for RJF.
GME: Dump it. Look at my RJF notes again.
SIRF: Dump it. Similar but not quite to my RJF notes. Can rebuy if Bounce happens since it is going sideways on RSI 20 but do not keep it and "hope" it does. Get confirmation with Bounce.
Note: All the MA's on these 5 should of indicated that you should of dumped them as well as them being below RSI 50.They are lined up in wrong order and in downtrends. Both are indicators and signals that I have taught you Jo. But like I have said you threw Mach's rulebooks out the window and now your feeling the pain due to that.
With a "bounce" always make sure it is in decent to high volume and not low volume.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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quote:Originally posted by Jo4321: Guess I jumped the gun on that one, mainly because it looked so overbought, I figure the "confirmation" and the big drop are going to be instantaneous. There probably won't be time for confirmation when it happens. It's gonna happen quick. (at least that's the plan!)
Always wait for confirmation. No matter what. When you don't wait then you suffer the consequences and have no one to blame but yourself. The market is always right and not you.
Btw Platinum, Palladium and other precious metals are at their all time highs and continuing up with no end in sight right now because of the economy being down. When the economy is down people invest in precious metals. SWC is a mining company of these metals and is the most significant mining company of Platinum family metals outside of South Africa where 80% of platinum metals are mined.
There is no reason for shorting SWC when precious metals are on the rise. You knew that i work in the jewelry business. You should of asked me before shorting this. And again you should of waited for the Bounce first regardless. And i will take a wild guess you did not have any Stop/Losses on the first five of your list and this one because if you did your losses shouldn't be that huge.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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quote:Originally posted by Jo4321: Other than those 5, I also have ONT NTRI EPAX and TRY.B
All of which are in the red.
I had Apple but sold it last week at $129.70 for a small gain (after some previous losses in it)
And, of course, the one stock I shorted has done nothing but gone up, even though the chart looks like it was overbought. (swc)
Jo
ONT = Keep it for now. It's heading down to RSI 50 and that should be SUPPORT. But if it crashes through on decent to high volume then DUMP IT!!.You can always rebuy if I am wrong and it bounces back up and through RSI 50.
NTRI = Dump it. Below RSI 50, in downtrend etc. Rebuy if bounces off of RSI 20 on decent to high volume though I wouldn't rebuy it because i prefer going Long on stocks above RSI 50. Note: MA's are lined wrong. Indicator to dump it. Should of Shorted it before.
EPAX = Dump it. Crashed through RSI 50 which is now RESISTANCE.
TRY.B = Dump it. Read my EPAX notes. Might go up temporarily on Monday because of Aftermarket hours prices but remember RSI 50 is now RESISTANCE.
Stop losses on any of these Jo? No?
Your becoming a action junkie. Dump all of them except the one i recommended. Go into cash and rethink your trading strategies and go back to Mach's rules. Right now it is a Bear market and you should be shorting more then going Long. But short stocks under RSI 50 with bad financials not Mining companies where there is a Bull Market for precious metals and other commodities.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
keep doing my recommendations though i haven't checked the charts of them today... but i don't see much of a change for them and/or will go up for one day temporarily....
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
Breathing a small sigh of relief on that short position with SWC down 9.2% right now. Still not in the green, but feeling much better than this morning when it was in the mid-22's. Thinking of covering and taking the 6% loss just for peace of mind.
Also, I bought some JRCC yesterday at $16.85 and sold it today at 17.75 (using PCola's idea of just going for 5%)
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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posted
Ooops, thought I'd put in a real low order for JSDA before work, and it filled. BUT, then I noticed instead of putting the order in to buy at $4.75, I had fat-fingered $5.75! So it filled at $5.15 on the open. Lucky for me, I was able to get out of it at $5.21. Made about $15 bucks, but at least I didn't lose anything.
GEEZ!
BTW, GME is now up over $3.00 since my sell, and JRCC is up about a buck and a half since my sell. Out of those I sold lately, two have continued downward (SIRF and FRPT, but the rest have gone up! (GME, NTRI, JRCC, AAPL). And of course all the losers I chose NOT to sell continued down.
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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BTW, GME is now up over $3.00 since my sell, and JRCC is up about a buck and a half since my sell. Out of those I sold lately, two have continued downward (SIRF and FRPT, but the rest have gone up! (GME, NTRI, JRCC, AAPL). And of course all the losers I chose NOT to sell continued down.
Btw GME is below the 50 line and will not break through it so that $3 or so per share you would of made you would of lost because I know you would not have sold out before or at the 50 line... Tough love but i have to tell ya that...
NTRI - I did say it might bounce up as it approaches the RSI 20... but it's going up is temporary... the MA's are still going down and MA's in that position tend to act as Resistance when the price of the stock approaches them.. but again you would of lost any profits from it because you do not know when to sell out and nor do you put any SL's lately from what i see...
JRCC - I don't think you told me about this one so I didn't analyze it for you...
AAPL - does not matter if Apple is going up right now because it's temporary... look at it's RSI chart... will not pass the 50 line especially since they having some problems.. you have to spot these things (patterns)... because even if it goes up a day or two it will be temporary so those profits you are calculating in your head are just temporary themselves because you have a habit of not recognizing these patterns about the 50 Line anymore and hold onto them longer then you need to... you also are not putting SL's anymore from what it looks... so profits = temporary... then you will come back and post here about how you held too long to it... seen it more times then i can remember Jo ::: rolls eyes ::: sorry tough love but has to be said...
As for the other Losers you CHOSE not to sell... I am not sure if they are the ones I told you to sell but if they are... then you didn't listen to me as usual...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
Thanks Mac. I wasn't doubting that I should have sold those. I was just pointing out how often trades do not go my way (title of thread!)
I'm giving you all a head's up now that I sold all my JSDA yesterday and tonight they report earnings. Watch them announce a buyout or something!!! I think everyone (except me) should buy 100 shares just for fun.
This happenned to me with two other stocks, TTWO which I sold the very DAY before a buyout announcement with a 50% premium, and PETC (which was about a year ago. I sold a few days before it went private)
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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posted
Jo,We need to know when you are selling so we can buy at the bottom...J/K...I am not real swift about my investment either.Probably why I turned to a broker in commodities.
posted
Sorry to butt in with this but I'm looking for a quick reply. Any suggestions on an EASY to use L2? I'm ready for it now.
Posts: 235 | Registered: Jan 2007
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posted
Not so much hard to use,,I should have easy to read...not a lot of clutter. My apologies for not being clear. I've seen quite a few posted and some seem better than others.
Posts: 235 | Registered: Jan 2007
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posted
I know what you mean about a lot of clutter. I've found that I like TDAmeritrade's regular no-frills streamer. They have another one that's called "Command Center 2.0" with colors and all kinds of bells and whistles, but I've always found that one to be a bit more confusing to look at. Fidelity's streamer has to be downloaded to your computer, so I cannot use that one at work.
JO (Covered one of my short positions on SWC today for a small gain. Still red on the other short position)
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
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quote:Originally posted by $tock Weazel: Hey Mach!
What do you think of DY?
I might buy some tomorrow for a swing trade!
Insider buying!
-$w
Me personally I wouldn't buy it... way in what i call "negative" territory... which is below the RSI 50... when it's in that area it has a uphill battle .... you'd be better off looking for a better stock... it's pretty much hit rock bottom though it can go down further still... but like i said it has a uphill battle... stocks in "positive" territory which is above RSI 50 are much better to own imo... also another reason not to buy this one is how the Moving Averages are lined up... they are all in a downtrend themselves.. this stock might go up temporarily tomorrow but i still wouldn't buy it and especially not on a Friday when people take profits or cut their losses for the week... another side note is that the industry index for this stock is in a downtrend as well.. if the industry (Telecom equipment) is down usually the majority of stocks in the same industry are down and makes it also a uphill for this stock to overcome... so my recommendation is not to buy but that's up to you... do your own DD....
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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quote:Originally posted by $tock Weazel: Hey Mach!
What do you think of DY?
I might buy some tomorrow for a swing trade!
Insider buying!
-$w
Me personally I wouldn't buy it... way in what i call "negative" territory... which is below the RSI 50... when it's in that area it has a uphill battle .... you'd be better off looking for a better stock... it's pretty much hit rock bottom though it can go down further still... but like i said it has a uphill battle... stocks in "positive" territory which is above RSI 50 are much better to own imo... also another reason not to buy this one is how the Moving Averages are lined up... they are all in a downtrend themselves.. this stock might go up temporarily tomorrow but i still wouldn't buy it and especially not on a Friday when people take profits or cut their losses for the week... another side note is that the industry index for this stock is in a downtrend as well.. if the industry (Telecom equipment) is down usually the majority of stocks in the same industry are down and makes it also a uphill for this stock to overcome... so my recommendation is not to buy but that's up to you... do your own DD....
Thanks for the TA tips! Really appreciate it.
What are a few stock you are looking at short/long?
quote:Originally posted by $tock Weazel: Thanks for the TA tips! Really appreciate it.
What are a few stock you are looking at short/long?
I was thinking GOOG might be a nice short...IMO.
Thanks!
Good candidate for shorting since it's in obvious downtrend (including it's MA's) but how much stock could you buy of this since it's over $400 per share? Unless you have alot of money to make any significant profit from it. Anyways assess your funds and always confirm anyone's advice on this board with your own DD and see if it makes sense before you make a final decision on a trade.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
I betcha google drops below $400/s and the dow may close today below the 12000 mark.Gold may also hit the $1000 mark.If you play platinum it was down another $125 at 5:30 this am and has been going back up since.
quote:Originally posted by Bottomfeeder: Have you shorted CFC down to at least the $4 range?
It might bounce tomorrow or day after since it is very close to the RSI 20. The last 4 or 5 times it was close or at RSI 20 it bounced which means MM's and traders think it is oversold at that level and buy it up temporarily at least for short term profits. Do your own DD though... i'm sure quite a few people made a killing shorting this stock when it was in the $40 + range and held on to it till now...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
Mach,what are your thoughts on GRIN? It is up to $2 one day then drops down for a day sometimes 2 to around 1.50 then bounces back up.No new news for some time but it stills moves.Today it was down >25 tomorrow or the next it will probb be back close to $2.
quote:Originally posted by Bottomfeeder: Mach,what are your thoughts on GRIN? It is up to $2 one day then drops down for a day sometimes 2 to around 1.50 then bounces back up.No new news for some time but it stills moves.Today it was down >25 tomorrow or the next it will probb be back close to $2.
I'm not crazy about this one (GRIN). First it's a toy company based in HK which is a part of China. Even if they are legit and make quality products we all know that in the past year Chinese companies/products have been in scandals which would not be good for this company. You are correct though in that Resistance is $2.00 and Support at $1.50 for now. In 2007 they were contemplating looking for a buyer but nothing seemed to come about that. I also do not like the average daily volume on this one. Not much volume and liquidity imo. But anyways it's at RSI 50 and if Support holds then it will bounce up tomorrow off of RSI 50 ($1.50 per share).
Buy it if it bounces off the RSI 50 on decent to high volume. If it crashes through Support/RSI 50 then don't bother. If you are currently holding it then dump it if it crashes through Support/RSI 50. If Support/Resistance keeps holding then you can buy at Support and sell at Resistance a few times til if and when it crashes either/or Support/Resistance then rethink what to do with it if anything at all.
Anyways that is my assessment. Hope it helps but as always do your own DD as well.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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