Skiracer's stock slopes

[skiracer]

I made two trades, quick 1-2 day in-and-out's on HOV. I didn't see your mention of it until just under $2.00, so I was late. I got into GCA at 4.60, and sold at 5.07 two weeks ago.

Why didnt you hold on to both of them. I would like to hear your reasoning on the early exit. ya know you got to let these run out and maximize the move.

[skiracer]

shorted ROST this morning at $52.65. 200 shares.

[bootsmagee]

Because I felt my entry was late on both, and I'm not experienced enough to know "for sure" how long stocks like those will run before they take a dip. I try not to get greedy if I don't have my own target exit. The stocks that I pick for myself tend to be long uptrends, like AWK for instance, so when I buy on a dip I know where I'm looking to exit. I bought AWK on the 11th at 31.73, and my target was 32.50 (basically just following previous highs, make a straight line more or less.) I sold on the 19th at 32.80, I let it run a little past my target because that day it was on a good run. I could've made more if I still had the stock today, but again I try not to get greedy because I end up losing my gains more often then not when I do.

[skiracer]

Because I felt my entry was late on both, and I'm not experienced enough to know "for sure" how long stocks like those will run before they take a dip. I try not to get greedy if I don't have my own target exit. The stocks that I pick for myself tend to be long uptrends, like AWK for instance, so when I buy on a dip I know where I'm looking to exit. I bought AWK on the 11th at 31.73, and my target was 32.50 (basically just following previous highs, make a straight line more or less.) I sold on the 19th at 32.80, I let it run a little past my target because that day it was on a good run. I could've made more if I still had the stock today, but again I try not to get greedy because I end up losing my gains more often then not when I do.

boots,
I can appreciate your reasoning. the idea is to max out on the opportunities. it takes alot of time and experience. if and when you enter something that I am touting and you are in it you can always ask me what I feel. not that i can guarantee anything but if I'm still in there holding then I usually still feel good about the trade. hate to see you or anyone miss the opportunity. but any profit is better than a loss. it happens to everyone and still does to me. believe me I am always in a fight with myself over emotional control and what to do with the gains when I have them in hand. what I do when I have a decent gain in the works is to set a point of what i will give back and yet still insure holding onto the better portion of my gains. then if it drops to that point i exit and dont look back.

[skiracer]

ROST is in a struggle right now between the shorts and longs. and those longs with big gains are all thinking about perserving those gains and not giving to much back. I think they are going to go the route of self perservation and sell off and be happy with what they made to date. thus driving the stock down. just my view of what is going on. If the profit taking starts it could fall fast and furious. I think it could go to44-45 range over a couple of days. I was hoping it would start today as tomorrow is the end of the week and those profit takers will want their money in their pockets before the weekend and not having to worry about what Monday will bring. great shorting opportunity under these circumstances. hope it plays out the way i figured it with the chart and the timing.

[bootsmagee]

boots,
I can appreciate your reasoning. the idea is to max out on the opportunities. it takes alot of time and experience. if and when you enter something that I am touting and you are in it you can always ask me what I feel. not that i can guarantee anything but if I'm still in there holding then I usually still feel good about the trade. hate to see you or anyone miss the opportunity. but any profit is better than a loss. it happens to everyone and still does to me. believe me I am always in a fight with myself over emotional control and what to do with the gains when I have them in hand. what I do when I have a decent gain in the works is to set a point of what i will give back and yet still insure holding onto the better portion of my gains. then if it drops to that point i exit and dont look back.

That makes sense, setting a point of what you're ok with giving back. Believe me, I watched HOV continue to climb and cursed myself out for not having bought earlier. But at the same time, when I did make an entry, I had no idea if/when it was going to sell off. What would be your thoughts on someone who was looking to buy HOV today, after it has gone flat for a bit, and now has started another jump? Is it more of a gamble now? Or do you have confidence in this one continuing past $3?

[skiracer]

That makes sense, setting a point of what you're ok with giving back. Believe me, I watched HOV continue to climb and cursed myself out for not having bought earlier. But at the same time, when I did make an entry, I had no idea if/when it was going to sell off. What would be your thoughts on someone who was looking to buy HOV today, after it has gone flat for a bit, and now has started another jump? Is it more of a gamble now? Or do you have confidence in this one continuing past $3?

take a look at the weekly chart boots. i dont know if you use stockcharts or not for you charts but if you do my parameters are set up for weekly, fill the chart, and 7 bars, candlesticks. just so you see it the same way i do. its making the right side of its cup base. has plenty of room to go to 4.50 / 5 range. the last line of resistance is around the 100 ema at 3 level. i would think as it makes its way up the right side there will be some short spots of correction on the way up but nothing major or abnormal. once it clears 3 then its clear sailing to 5 is the way I see it. whether or not to buy it now is going to have to be your decision. i wish you had stayed in it when you owned it. my advice at this point would be to buy a small chunk and although higher in price than when you exited earlier that will be offset by the gains you took earlier. so it would be pretty much a push and you would be back in at around even. then its a new game and you would have to be prepared to exit at a 7% or less stop if it drops after your entry. but at least you would be in for any continuation upward. does that make sense? if you are asking me if I think it will move farther up I do as I have said from the beginning. but I dont guess weights and ages anymore.

[bootsmagee]

take a look at the weekly chart boots. i dont know if you use stockcharts or not for you charts but if you do my parameters are set up for weekly, fill the chart, and 7 bars, candlesticks. just so you see it the same way i do. its making the right side of its cup base. has plenty of room to go to 4.50 / 5 range. the last line of resistance is around the 100 ema at 3 level. i would think as it makes its way up the right side there will be some short spots of correction on the way up but nothing major or abnormal. once it clears 3 then its clear sailing to 5 is the way I see it. whether or not to buy it now is going to have to be your decision. i wish you had stayed in it when you owned it. my advice at this point would be to buy a small chunk and although higher in price than when you exited earlier that will be offset by the gains you took earlier. so it would be pretty much a push and you would be back in at around even. then its a new game and you would have to be prepared to exit at a 7% or less stop if it drops after your entry. but at least you would be in for any continuation upward. does that make sense? if you are asking me if I think it will move farther up I do as I have said from the beginning. but I dont guess weights and ages anymore.

Yeah, that makes sense. I would never expect anyone to tell me to buy because they can promise anything, I understand what you're saying. I do appreciate the advice though, what we all do with it is up to us of course. I do not, however, know how to figure out resistance levels. I am slightly familiar with the EMA lines, but I don't know how to read them in relation to the stock's expected performance, or vice-versa I guess. Just to take a stab, is the expected resistance level the price point between the 50 and 200 EMA lines? If this is a little too involved to explain here, I have no problem doing my own research. Any recommended sources?

[Lucavia123]

I'm beginning to like TASR again. Take a look at the monthly and then the weekly. beautiful spot to catch it on the monthly. I'll be watching it closely on Monday a.m.

Anyone still watching TASR? It has taken a heavy beating. I would expect it to find the bottom soon.

[bootsmagee]

Anyone still watching TASR? It has taken a heavy beating. I would expect it to find the bottom soon.

I've been watching it as well, and will continue to.

[skiracer]

not to bad a technical read and call on ROST the other day would you say. down 1.01 from my entry this morning. I made $200.02 bucks today. but the call was delicious.

[skiracer]

Yeah, that makes sense. I would never expect anyone to tell me to buy because they can promise anything, I understand what you're saying. I do appreciate the advice though, what we all do with it is up to us of course. I do not, however, know how to figure out resistance levels. I am slightly familiar with the EMA lines, but I don't know how to read them in relation to the stock's expected performance, or vice-versa I guess. Just to take a stab, is the expected resistance level the price point between the 50 and 200 EMA lines? If this is a little too involved to explain here, I have no problem doing my own research. Any recommended sources?

basic rule # 1: moving averages are either resistance or support. when a moving average is under the current price of a stock it is a line of support. when a moving average is above the current price of a stock it is resistance. whether the moving average is expontental (ema) or just regular (dma) doesnt make a difference in defining support or resistance. it is just two different ways of figuring a moving average. there are other ways of looking at support and resistance. it could be a recent high or low point or a fibonnaci line which is figured mathematically and I wont get into them here but they are very strong lines and you would be amazed at how you can figure out how high or low a stock will run by figuring and placing fibonacci lines on a stock chart. you can google "fibonacci lines" to get a clearer understanding of them.

[billyjoe]

HOV: entry 1.10: closed today at 2.64: + 1.54 / + 140%: 3000 shares @ 1.10 = 3300: 3000 shares @ 2.64 = 7920 = + 4620 in 5/6 wks.
GCA: entry 4.25: closed today 5.52: + 1.27 / + 30%
did anyone even take a sniff? HOV could go to $10 in an election year!

Ski,
My 2nd son is getting very serious about investing . I told him to check out HOV. He bought and is up 8 1/2% in little more than a week. Thanks again.

------------billy

[skiracer]

Ski,
My 2nd son is getting very serious about investing . I told him to check out HOV. He bought and is up 8 1/2% in little more than a week. Thanks again.

------------billy

no charge billyjoe. just kidding. I wish everyone here would have bought some of it. tell him to hold on to it. i think it is going to turn out to be a decent winner. make sure he keeps his feet on the ground and to listen and learn from his dad and to make sure he doesnt go out and invest money that he doesnt have and learn to always honor his stops if he is swing trading for the short term.

[skiracer]

it appears that there could be some correction starting today in regard to the $INDU and the $SPX. remember that 80% or so of all the stocks in the stock universe will follow the indexes regardless of their fundamental or technical strength. keep that in mind if thinking of trading anything long today to hold over the weekend. this market has topped out this week at 12750 which is at the levels of recent highs this past year. and everytime it reached that level it corrected and pulled back. there is nothing to write home about in our economy or in the rest of the world, especially europe, so why the markets keep going up mystifies me and my line of thought. the charts dont lie and they are what they are . it's time for another correction and a pullback. whether or not these markets are being manipulated or orchestrated is one line of thought but regardless there has to be some form of correction and being caught at this time on the long side is not where i want to be and neither should anyone else unless you are already holding something from earlier. but i think most stocks and indexes are in for a correction so hold on to your seats or play things accordingly.