As Web's World Turns

[dmk112]

Webs, you may have missed your buy pt today @ 10.67 but who knows.

[Websman]

My limit order for ACW filled at $10.50. It's time to make some money.

[Websman]

Here's an update on my present positions...

1. ELN - Bought at $6.88. Closed today at $7.23.

2. VPHM - Bought at $6.60. Closed today at $10.04.

3. EZEN.OB - Bought at $1.95. Closed today at $2.30.

4. ACW - Bought at $10.50. Closed today at $10.55.

I'm good!
Of course, I still have to close them out to get to keep my profits.

[dmk112]

My limit order for ACW filled at $10.50. It's time to make some money.

Well I was wrong.

[Websman]

I closed VPHM out today at $9.91 for a 50% gain.
I'm thinking it may be getting a little overextended at the moment so I decided to take my profit. I'll get back in if it drops back closer to the 50 day MA.

[skiracer]

It's your money but I have to disagree, bigtime, with that move. This stock has all the ingredients for a big move up to the 14/15 range or higher. Plus it's a takeover target. I would be really surprised if you see it below 9 again this year. Why didn't you just bring a close stop up to insure the gains and ride it out. Over the last couple of days it has just been doing the normal thing that good stocks do after they have made significant gains. Normal stuff.
I can appreciate your feelings but exactly what makes you think that it is overextended. On the weekly chart the 50 dma is 3.29. Do you think it will get back to that level from todays closing?

[jiesen]

I closed VPHM out today at $9.91 for a 50% gain.
I'm thinking it may be getting a little overextended at the moment so I decided to take my profit. I'll get back in if it drops back closer to the 50 day MA.

overextended or not, nobody ever went broke taking a profit.

wtg on the VPHM, webs! I wish I were paying better attention when you first got in.

[mrmarket]

Here's an update on my present positions...

1. ELN - Bought at $6.88. Closed today at $7.23.

2. VPHM - Bought at $6.60. Closed today at $10.04.

3. EZEN.OB - Bought at $1.95. Closed today at $2.30.

4. ACW - Bought at $10.50. Closed today at $10.55.

I'm good!
Of course, I still have to close them out to get to keep my profits.

Looks like webhead is buying the beer.

[skiracer]

Webs and Jiesen,
I would be the first one in line to advise anyone to protect their gains and profits and to take the money and run, but trying to do it when the timing is right is the key. Just my opinion on this but it's a pet peeve of mine. As an example I had IBM this week from 78.60. It ran up to 81+ and I thought, like Webs, that it was getting overbought or overextended. Technically you can only interpret the charts as you see them and that doesn't guarantee that your interpretation is right or wrong. The very best that anyone can do for themselves is to try to position yourself with the best edge you can. Rather than sell off the position and take the gains at 81+ I brought the stop up real close at 81.35, the stock had actually closed the day before at 81.50, and waited to see which way the wind was going to blow. I thought for sure it was going to be stopped out. It goes up another 1.25 much to my surprise. I make another $1250 for sitting back and waiting it out and no charge for the ride up.
One of those famous trader guys from the past, I can't remember the name, said that the only time he made money was when he waited an exercised patience with his feelings on the positions he was holding. Every sharp trader that I know, an I know a few worth a zillion, have this mentallity an ice water in their veins.
Unless your cash flow is tight and you need the inflow immediately why not set the stop real close and wait it out. What could possibly happen between today and Monday that could hurt you with that stop in place. But I'll tell you what really hurts, an I'm speaking from a number of experiences, is when the damn thing goes off the scale on Monday morning and you're not in it when you could have been and protected at the same time for nothing.
Webs I'm as happy for you as a pig wallowing in the mud knawing on a cornhusk. I hope you an everyone here make millions at this game but there is always room for improvement and doing better.

[spikefader]

Yeah, congrats Webs. +50% is beautiful.

But ski has a great point, and I agree with him. VPHM on the weekly is acting mad bullish, ignoring that upper channel tag a month ago, and surging! VPHM buyers have been smoking too much bat doo-doo one could say, but that's what they said about TASR buyers back in November '03 and in just 5 months from that point the thing powered to +600% from those apparently insane levels.

So bottom line is your VPHM weekly candle isn't bearish yet.......there's plenty more waves left in it........21.90 is the next significant weekly price resistance.........there's a big fat double bottom back in Oct '03............volume by price sub $5.00 is massive..........and you've got PLENTY of time to hold a winner and let it run. Protective stop to take at least 25% percent or something Vulcan like that.........and sit bag and brag all the way to Christmas time. So buy the dip is all I can say

Either way, it's still a great trade. Only criticism is you didn't let it mature into an absolutely astronomical trade!

[Websman]

So buy the dip is all I can say

A dip is on the way. Then I'll buy even more shares and make even more money.

Thanks for the words of wisdom Ski and Spike. Your opinions are always welcome and highly valued!

[Websman]

Looks like webhead is buying the beer.

They call me Webspam on the IBD boards...

[New-born baby]

The dip is here already

A dip is on the way. Then I'll buy even more shares and make even more money.

Webs,
VPHM closed at $9.87. You sold at $9.91. If she doesn't gap at the open, you can jump right back in, in better shape than when you left. And if you are with IB, then the .04 diffo paid the commisions with some extra change for yourself. What's wrong with that?

Ski--

Thanks for the sermon. A good sermon is good for everybody.

[Websman]

Update on my present positions... 7/15/05

1. ELN - Bought at $6.88. Closed today at $7.35.

2. EZEN.OB - Bought at $1.95. Closed today at $2.28.

3. ACW - Bought at $10.50. Closed today at $10.49.

ELN was up .12 today. It won't be long and it'll be headed back to the $20 range.

[Websman]

Webs,
VPHM closed at $9.87. You sold at $9.91. If she doesn't gap at the open, you can jump right back in, in better shape than when you left. And if you are with IB, then the .04 diffo paid the commisions with some extra change for yourself. What's wrong with that?

Ski--

Thanks for the sermon. A good sermon is good for everybody.

Excellent post! I will definitely consider hopping back in at a few pennies lower.