I have 22 consecutive profitable trades of 15% or better. How is this possible? Every day there are hundreds of stocks setting new highs, no matter what happens in the overall market. Many of these stocks are still at very reasonable valuations. Afraid of buying stocks at their highs? Think of it this way: a new high is really a future floor for companies with solid financial underpinnings. Quantitative momentum modeling makes it easy to identify stocks that can continue this upward momentum trend. Why does this happen? It's really very simple..ask me about what investors and cows have in common. I am $$$ MR. MARKET $$$. I AM HUGE!!! Bring me your finest meats and cheeses. You can join in on the fun. Register for free and you'll be able to post messages on this forum and also receive emails when $$$ MR. MARKET $$$ makes his own trades. ($$$MR. MARKET$$$ is a proprietary investor and does not provide individual financial advice. The stocks mentioned on this forum do not represent individual buy or sell recommendations and should not be viewed as such. Individual investors should consider speaking with a professional investment adviser before making any investment decisions.)
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"Trade What Is Happening...Not What You Think Is Gonna Happen"
ITC, do you buy purely on technicals? I did IBD stock check up on CENX and the EPS rating / SMR is not great..would appreciate your thoughts ..
No I don't, but I don't pay much attention to the IBD EPS rating...I look at very recent, present and projected EPS.
It's actually against my religion to buy a stock in a group like this...but I said 3 Hail Mary's and went for it based on yesterday's action and the fact that I think the market will reverse soon. I simply BOT CENX as a defensive play to balance my risk. Projections for this one are pretty good.
I'm in the process of trimming overall right now though. Took profits on PWN, FDRY and the rest of EGOV earlier today.
I screwed up though on CKCM...Don't buy risky plays with unsettled funds!...But I look at it as a long term play...3 days anyway I went in real light though(fortunately)...Best, IIC
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Sold axyx today at $4.68, :P think its time to split on that, what you think about TIVO, think its going to reverse.
What you thinking about buying tomorow? take a look at HL, done beuties for me....
I closed out all settled positions except AXYX, BLTI and BIT...as far as those 2...I really have no idea...HL could be a defensive play if you think the market is tanking...but it did close near it's low for the day today...so I'm not sure...One of my 3,157 Sayings To Live By is When in doubt ...Stay out
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Pleasant surprise that the NAZ 100 was up fraction A/H...doesn't mean the techs will bounce back or anything...but it might be a good time to start searching for good ones that have taken a recent hit e.g. EVOL, MOBI, NICE etc. Then wait for the day they rise on vol...at least I'm gonna do that.
BTW: On a side note, ever notice the inordinate number of stocks that have an 81 EPS at IBD?...It's a programming glitch which is partially caused by rating companies w/o 3-5 yrs of EPS to measure.
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Foreign Markets close UP...NAZ 100 up a fraction A/H, Futures up A/H...but the 10day NAZ volume MA indicates a new downrend as well as the Short term OverBOT/OverSLD Oscillator at DGO...a little confusing here right now
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Although still positive, the futures are dropping, ...a bearish signal IMO...Don't get sucked in...My 2 cent take this morning
9:15AM : S&P futures vs fair value: +1.9. Nasdaq futures vs fair value: +5.0. At its worst level of the morning, the futures market continues to point to a higher open for the cash market.
9:00AM : S&P futures vs fair value: +2.1. Nasdaq futures vs fair value: +5.5. The futures market continues to dip on the heels of the worse than expected Initial Claims report at 365K (consensus 354K). Although below the consensus, the report does not disrupt the favorable employment trend established of late. Accordingly, supported by mostly solid same store sales reports, upward guidance by QCOM, and Merrill Lynch's upgrade of several tech companies, including CSCO, the cash market remains set for a higher open.
8:40AM : S&P futures vs fair value: +3.1. Nasdaq futures vs fair value: +7.0. The futures market did not take kindly to the worse than expected Initial Claims report at 365K (consensus 354K). Keep in mind, though, that the 4-week average, a less volatile measure, only rose to 363K from 360K last week. Despite the dip in the futures market, it continues to point to a higher open for the cash market, supported by generally strong same store sales reports, upgrades of the likes of CSCO and MRVL at Merrill Lynch, and QCOM's higher Q1 guidance.
8:25AM : S&P futures vs fair value: +4.2. Nasdaq futures vs fair value: +10.0. The Initial Claims report will be announced at 8:30 ET. The report will shed more light on the employment picture. The market consensus is for a reading of 354K versus the prior reading of 351K and the Briefing.com consensus of 355K.
8:00AM : S&P futures vs fair value: +3.9. Nasdaq futures vs fair value: +9.0. The futures market is higher in a reversal of yesterday's late afternoon pullback and in conjunction with largely better than expected same store sales reports, as well as upgrades of several tech names, including CSCO, at Merrill Lynch.
6:45AM : S&P futures vs fair value: +3.2. Nasdaq futures vs fair value: +7.0.
"Trade What Is Happening...Not What You Think Is Gonna Happen"
FWIW...My take is that the NAZ will go down to 1930(approx)...rebound to 1960(approx) and then go down again. Can't say exaxctly when that will happen.
A lot of good stocks getting hammered big time...keep an eye on them for future rebounds...Best of Luck...I hope you longs took my advice yesterday.
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Sorry to disappoint everybody ...but I will be leaving town till Sunday afternoon...probably no posts till Sunday night...look for the mkts to deteriorate a little more IMO...If you find any tight bases with drying up volume...please post them here...Have a Great Weekend!!!...IIC
"Trade What Is Happening...Not What You Think Is Gonna Happen"
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