Welcome to StkyTreat

[New-born baby]

BJT! Should I cut my lost? Purchased at $38 and $36. Anyone?

Has a price target of $28 on PnF chart, but could go lower. Ugly daily chart.
Dow Theory on the daily says she may hit all the way down into the $18 range. Yup. Weekly says the same thing. BTJ is a short right now. Cut your losses.

[jiesen]

Yes, better to cut your losses here at 33 while they are relatively small. Could always go down further, and if you're likely to sell it when it goes down, better to sell now than to wait for 23.

The stock itself does look somewhat tempting to me, and the recent finances seem pretty good. There must be some rough times ahead though, for investors to be selling off like this. If you don't know the sector/company better than the people selling BTJ right now, you'd probably be best just getting rid of it, and waiting for a cheap stock to come along that better suits your investment profile.

There will be other opportunities- having patience is a good thing.

[JohnHenry]

Stuck in a RUT!

BJT! Should I cut my lost? Purchased at $38 and $36. Anyone?

[jiesen]

Um Hi Jiesen

Yeah it feels good. I do not understand why things are selling off. Well, I hear of the housing sector not doing well but I do not understand why. I have to dig deeper when I have some free time.

BTW….where is everyone?

Stky,

Nobody knows why stocks take a sudden downturn, usually. It's what makes this a market- many people will try to explain it by whatever bad news makes the headlines that day/week. Today's story is the subprime lending woes, but markets just go up and down, that's the real story. Owning quality companies throughout all the ups and downs is the real way to make money in the long run- which I hope is the lesson to take away from owning Berkshire through the recent ups and downs.

Everyone seems to be too busy these days to play around much with stock trading (myself included). The $$MM portfolio, like the market in general, has its ups and downs, so while relatively few stocks are hitting the 15% target here, little excitement is generated, and thus fewer new members join and participate. This should pick up again, just like the market will, and you'll see many new people again... if you want more discussion though, just speak up, and/or go recruit a few more members to the forum!

[JohnHenry]

Um Hi Jiesen

Yeah it feels good. I do not understand why things are selling off. Well, I hear of the housing sector not doing well but I do not understand why. I have to dig deeper when I have some free time.

BTW….where is everyone?

So Stky,

How does it feel to be holding nearly the only company in the financial sector to sail right through this whole credit debacle completely unscathed?

http://finance.yahoo.com/q/bc?s=BRK-A&t=3m

I sure wish I were still holding my Berkshire stock!

[jiesen]

So Stky,

How does it feel to be holding nearly the only company in the financial sector to sail right through this whole credit debacle completely unscathed?

http://finance.yahoo.com/q/bc?s=BRK-A&t=3m

I sure wish I were still holding my Berkshire stock!

[JohnHenry]

Thanks for the feedback Iceman and Jiesen. Yeah, I should be happy with what I made and not think about what I could of or would of made...it's the greedy part of being human. Maybe I can learn from this for my next trade.

Happy 4th of July to everyone.

[IIC]

Another idea...you could set Trailing Stops...even on Partials...Just a thot

[IIC]

Very nice trade! I see you're getting the hang of this. It's good that you're asking the questions and getting valuable feedback from the board to help you learn more as you go. Keep that up at least until you really have the confidence you need to make winning trades on a consistent basis.

Doug's right, and you should have a goal to never panic- I'm glad your panic didn't cause you to sell at 35. But just as important is not to dwell on what could have been. For every 8 point gain you miss out on, there's an 8 point drop you're missing, too. Remember that. The key here is you made a plan, and stuck to the plan, and it worked! Keep it up!

I agree w/ J...You made a nice gain...Never dwell on what coulda been...A recent example of mine is FMCN from my CwH list...I'm gonna estimate so I don't have to look it up...Bot around 45...went up to 46...I sold about 43.50...And then it goes over 50...I'm not happy about it...But I'm not worried about it either...The way I trade...which I'm not suggesting that you try to mimic...is based on being right over 67% of the time...that is really it for me...In fact there are methods to make money being right only 33% of the time...Money Mgmt. is key to any system...I don't have to be right 2/3 of the time to make decent money...But that is the goal I try to maintain...However, everyone has to develop their own style...My best piece of advice is probably "Don't try to copy anyone"...Look at what others do and backtest and fronttest if you see something interesting...If you decide it works then blend it into your own style if it seems right...Best, Doug

[jiesen]

Congrats, Stky!

Very nice trade! I see you're getting the hang of this. It's good that you're asking the questions and getting valuable feedback from the board to help you learn more as you go. Keep that up at least until you really have the confidence you need to make winning trades on a consistent basis.

Doug's right, and you should have a goal to never panic- I'm glad your panic didn't cause you to sell at 35. But just as important is not to dwell on what could have been. For every 8 point gain you miss out on, there's an 8 point drop you're missing, too. Remember that. The key here is you made a plan, and stuck to the plan, and it worked! Keep it up!

[IIC]

Hi there Iceman

Sorry my post wasn’t clear. I was too excited and wasn’t thinking straight. What I meant to say, I purchased BTJ at 38 and when it want down to 35. I panic but I didn’t sell. I kept it until it was above my entry price. I remember Jiesen telling me when I first joined this board to take at least 15% profit and that’s what I did. I set a target price at 44 and I sold it at 44 last Friday.

Since I don’t have a crystal ball to know that it would have gone up to 52 like today. How would I time it to take a little more off the table? Man it went up eight more points since I sold it…that’s a lot I tell you.

True...You did not sell it at the right point...But we have the advantage of looking at it in retrospect now...My first thought is that you did OK...although you should NEVER panic.

I'm not the best person around here to respond because over 95% of my trades are Cherrypickers...

I'm assuming that after that drop you were probably relieved to get 4 bux on it...But you could've trimmed at that point to reduce the anxiety...Doesn't really matter if it was only a small trade (which I don't know if it was or not...and for a look back the $$$ amt. doesn't matter).

But let's assume you really liked this stock...And there is no reason that you shouldn't have liked it because it has been #1 on my IIC 100 and some other "Unnamed 100" list for a while...So you could've have known that it also had some nice fundamentals.

Anyway,,,On Friday the money flow and CCI looked very good along w/ some other technicals that were already Bullish...What would I have done?...Really can't help you there...But from what little I know about you...I think you should have trimmed.

[JohnHenry]

How did you decide to sell at 35? Was it just panic or were you looking at support levels and p/v action?

Hi there Iceman

Sorry my post wasn’t clear. I was too excited and wasn’t thinking straight. What I meant to say, I purchased BTJ at 38 and when it want down to 35. I panic but I didn’t sell. I kept it until it was above my entry price. I remember Jiesen telling me when I first joined this board to take at least 15% profit and that’s what I did. I set a target price at 44 and I sold it at 44 last Friday.

Since I don’t have a crystal ball to know that it would have gone up to 52 like today. How would I time it to take a little more off the table? Man it went up eight more points since I sold it…that’s a lot I tell you.

[billyjoe]

How did you decide to sell at 35? Was it just panic or were you looking at support levels and p/v action?

I'm guessing he used the famous WON 8% stop loss.

----------billyjoe

[IIC]

Hey, I have a question.

I purchased BTJ at 38 and panic when it sank to 35. My target price to sell was 44 and I met that goal on Friday. I know I’m still a rookie at this but what can I do to learn not to pull the trigger too early. I didn’t know it was going up another four dollars or I’m just greedy? Any thoughts anyone?

How did you decide to sell at 35? Was it just panic or were you looking at support levels and p/v action?

[JohnHenry]

Btj

Hey, I have a question.

I purchased BTJ at 38 and panic when it sank to 35. My target price to sell was 44 and I met that goal on Friday. I know I’m still a rookie at this but what can I do to learn not to pull the trigger too early. I didn’t know it was going up another four dollars or I’m just greedy? Any thoughts anyone?