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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And in payment for the smile, I thought I'd post this chart with comments. I think SU is a headed South of the border. See the support around $78? Crude is moving higher, and oil stocks are moving lower. Long is wrong, IMO. It baffles me that crude has stayed above $70, and oil stocks have moved South. I still believe crude will remain above the current $69 support, which is very strong. That ought to make the oil stocks strong, too. COP, with oil priced at $60 bbl, is worth at least $100 per share. Current price is $65.80. Hey, that's FA, and I don't do FA! But I read it from Kurt Wolfe. Still, the chart doesn't lie.
By the way, I own SU, and I have it hedged with calls (no puts at this time).
Look at that topping tail, BillyJoe. The big boys are selling every rally. Doesn't matter if oil is up $2; they are selling the rallies. SU is forming a head and shoulders, and lookout if that dog busts that neckline around $79 or so.
SU is such an erratic chart I find it hard to make out any specific chart pattern on the daily other than being range bound between $86 and $77. Lots of gaps there. You seem almost positive about which way it is going to go. Institutional buying is actually up almost $6 million shares and Zach's has a moderate buy on it. But the best part is that what it does. Not only does it explore for and develope oil and natural gas fields but is a refiner of it's own resources and refines for other. If oil goes up this stock would seem to almost naturally follow suit.
I'd like to “expressa” a big hale and hearty congratulations to the gold medal winner for the week, Ninner! whose short on XPRSA outperformed all!
The Ice Man stages an impressive come-from-behind move to claim the silver! I'll tell ya, that Ice is just cool as it is slick!
And then there's our friendly, neighborhood, snow-shovelling felon, Billy in the Low Ground! Only he's more or less in the high ground this week. First he shorted IPAS, after which he thought: "I pass ... on that" and went short on LOW. Short, low, high, sideways, after all the dust settled, there was Billy, leaning in the doorway, all suave and debonair in his freshly-pressed bib overalls, clutching onto that bronze.
Congrats to Ninner on the Gold and Billy on the Bronze.
As far as ICOC...I bot it 5x at an avg. of 6.01 on April 25th...the same day it hit its all time high of 6.18...Been a roller coaster...as low as 3.98 since then...I'm in it moderately heavy...The financials look pretty good and Zappy predicts $10 sh...which would really be great...But my original target was $7.50...Doug(IIC)
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Looks to me like Doug is starting to make a real habit of finishing near the top. Used to be Pete doing it every single week. What happened to him? Taking too much advice from NBB . . . . Big congrats to Ninner, who really knows how to put out a fire in the clutch And also congrats to BillyJoe, who knows how to ice down a hot fire, too.
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