Swing trading Mr.Market's latest Top Five Picks

[billyjoe]

New-born,
I may have this wrong , but I believe AT&T was spun off into a bunch of smaller companies that still hold some value. I have an aunt that inherited AT&T stock that has been in the family since the 1920's passed down as each owner died without selling . She was complaining several years ago about the amount of paperwork. I guess you could write a book about AT&T, it's probably already been done.
billyjoe

[noshadyldy]

to Spike and Newbornbaby

Two nicer fellas I don't think I'd find anywhere. You give so much of yourselves simply to help others. Consider yourselves cyberhugged. (and if either of you are ever a patient of mine, you will get my best!)

Now, when I said I've got a lot to recoup, I mean that it's more than I care to lose, not more than I can stand to lose. I'm like a dog with a bone; I just hate giving it up! And Yes, I did scale back to under half my original position back at the $25 mark. However, I certainly recognize that you, Spike, (and you too, NBB, for that matter) are far more educated and experienced in these matters than I. Having said that, when you speak, I listen up since You are more likely to be right. One thing I will say though about me, and this has played out numerous times, is that I get this feeling in my gut (not a donut this time) that I don't trust often enough. When I looked at the chart for NGPS i could see it fall down around 20 nothing flat (when it was up at $32) yet I didn't trust the feeling and went with the technical.
I do believe its a very good company and have no reason to think that eventually it wouldn't recoup (although I would be surprised if it hit it's prior high anytime soon at all), which is why I did a double take when I thought you said, you'd throw in the towel if it broke under $21something.
Knowing that there is so much that I don't know, I worried that I must be wrong.
Thanks again for all your help. I'll shut up now.

[New-born baby]

Thank You NOshadylady

NOshadylady,

Thank you for your kind remarks. No doubt Spike, MrMarket, and all on this board agree with me: we want everyone here to make money with no losses! Unfortunately we are not always right, but I do feel comfortable offering Can advice because it is a great place to get back what one has lost.

Best to you and NGPS. And I should say that I was too lazy to figure out for you the projected bottom of this stock. Maybe I'll do that today . . . . . .

[spikefader]

Thanks noshady. Cyberhug backatcha. I know exactly what you mean about that gut feel about taking action or not, and I know I've struggled with it in the past, and still do to less of a degree. The hard thing is distinguishing it from a) just plain old fear of the unknown and b) fear based on a logical and perceptable reason.

Maybe the answer is making that gut feeling accountable in some way, so that one could appropriately respond to it and avoid the errors based purely on unreasoned emotion/fear of unknown.

Bottom line I guess is that there will always be a surprise or unexpected move in a position we hold and that we're going to feel negatively about it. The only thing we can do is to control the things we CAN control, and give the stress and negative 20/20 hindsight thoughts to the big fella upstairs to handle for us. Worrying about it isn't productive, in fact, its destructive to our states of well-being.

The only thing we can do is contemplate all potential risk, imagine the likely emotions during the ride and pass on the trade if it's going to ruin our sleep or affect our state of well-being. The reality of this is that if one is trading without stops the potential 'worst case scenario' scares the bajingies out of me, and if I pondered that deeply enough I'd probably choose never to trade without stops ever again. This is exactly the reason I love stops. I'm setting the boundaries, I'm in control of my risk, and not leaving it up to Mr. Market (and I don't mean Ernie).

New-born is spot on. I want everyone on this forum to make money and minimize the losses - especially if I post a chart and rec it only to see the dumb thing make me look stoopid But you know what? Another desire of mine is that everyone rate their level of success not on a + or - profit, but rather whether they have made a logical plan within their tolerance limits, and stuck to that plan. That's a true measure of success in my book. Good fortune, and dumb-luck timing, in the face of knuckle-headed foolishness, can make money in the market if one happens to be lucky enough. But to demonstrate you made money because you were smart, disciplined, patient, emotionally in control, systematic, accountable and resourceful.....now that's something worthy of respect and admiration.

[spikefader]

Mr. Market's latest top five list is here

ACRG.OB
ARLP
FRD
IAIA
IIG

I'll post some charts on the 50% retrace locations later.

I'll note that ACRG is long from 3.06 as per channel turn up entry posted earlier in the thread here .

[spikefader]

ARLP has a 50% retrace entry today off the daily, and good spot down near intraday S2. System long from 70.02 or anything under 70.25 and target 70.25 + 15% = 80.79

EDIT: Note that I've already done ARLP 50% play successfully

[bec1nj]

Thanks

Spikefader-Just want to thank you for your great posts.
Bruce

[spikefader]

Spikefader-Just want to thank you for your great posts.
Bruce

You're welcome, and thanks for the thanks.

[spikefader]

ACRG retarget to 3.85

[noshadyldy]

Ngps

did you see that BEAUTIFUL 2 week reverse head & shoulders pattern with the right shoulder just a tad deeper????????????????

[noshadyldy]

oh by the way, i love the bear! I'm a critter lover for sure!

[New-born baby]

Ngps

Jiesen,

Well, if you missed NGPS a couple of days ago at 21.34, you may get it here in the last hour. It's droppppiiiiinnnnnnnnnngggggggggggggggggggggggggggg !

Volume is LOW today, less than half a million shares. Been running 2-3 million per day. What does that mean?

[spikefader]

What an example!
This is one of Mr.M's current Top 5.

[New-born baby]

50%

Spike,

I'll expect you to post a "hot pick of the day" tomorrow that's as easy as 1-2-3.

[spikefader]

did you see that BEAUTIFUL 2 week reverse head & shoulders pattern with the right shoulder just a tad deeper????????????????

Post what you're seeing, cuz I'm struggling to pick it out.