MTM's Charts to watch

[mtm]

I am not in it, it was just a trade. I am not a big fan of buy and hold by no means. I only buy and hold a select few stocks. The trade on this stock was dead by Friday's close.

I was just curious if anyone had stole some cookies from the cookie jar while the lid was open.

[jiesen]

I am not in it, it was just a trade. I am not a big fan of buy and hold by no means. I only buy and hold a select few stocks. The trade on this stock was dead by Friday's close.

I was just curious if anyone had stole some cookies from the cookie jar while the lid was open.

and I don't usually buy anything I wouldn't want to hold for years. so to me, seeing a buy rec on this stock looks like a red cape being flashed in front of a bull. of course I can appreciate that as a trader, you could care less about the long-term prospects, but will take the quick buck every time...

I think that due to the nature of this site, there are a lot more buy and hold types around here, that would do well to avoid this particular disaster.

[skiracer]

If you knew the company was going to suspend it's production and was getting rid of a few hundred employees that would be necessary and required to continue operations how could you even consider a play and call it an overreaction to that news.
There are hundreds, thousands of stocks out there that are getting downgraded for whatever reasons and plunge on the downgrade for no apparent reasons. This was much more than a brokerage downgrade or a CEO resigning or any other breaking news item that could cause an overreaction. This company is stopping production. No product and no earnings. What would prompt anyone to pick that specific stock to play on the assumption that this was an overreaction. Did you think they were kidding.
Last Thursday or Friday some brokerage decided to downgrade CMTL, a strong company with great fundamentals an a leader in the recent uptrend, and the stock drops 3.50 or so points on the news. That's an overreaction and today was proof of that. Personally, an I know it's your money and time, but I think it was a bad play and recommendation with all the alternatives available.
You also have to understand that by just posting something in regard to how you feel about a stock leaves you open to other peoples opinions and views on your opinion. As long as we keep it civil it shouldn't make a difference whether the rebuttal is negative or positive. It's only an opinion.

I would advise NoShadylady to get out of this position as quickly as possible tomorrow, eat todays minor loss, and chalk it up to experience. I can't imagine this stock appreciating anytime in the near future or intermediate term. What reason could you present to make a case for it going up?

[mtm]

LOL, I think the problem here is the failure of some to "read" what I "actually" posted. Please people, !!!READ!!! what I post before you run off the deep end making unfounded accusations.

[Runner]

I guess from the inraday chart I could see where one could have caught a little pop. Heck I wish I’d caught it, but then again different trading/investing methods yield different results.

[mtm]

I guess from the inraday chart I could see where one could have caught a little pop. Heck I wish I’d caught it, but then again different trading/investing methods yield different results.

BOWS to Runner



I was starting to wonder what world I was in.

[skiracer]

Apparently you're in your own world. I read what you posted and you called it an overreaction. It did make the bounce and you can't discount that. Did you make the play on the bounce? I can't imagine anyone rushing out to make the trade on that kind of news. I saw the item come across the Briefing.com newswire and looked at the chart immediately an it dropped like a stone in water. The play was the momo guys pulling in the retail suckers and selling off into that strength.

[mtm]

Apparently you're in your own world. I read what you posted and you called it an overreaction. It did make the bounce and you can't discount that. Did you make the play on the bounce? I can't imagine anyone rushing out to make the trade on that kind of news. I saw the item come across the Briefing.com newswire and looked at the chart immediately an it dropped like a stone in water. The play was the momo guys pulling in the retail suckers and selling off into that strength.

From the first post of this thread:

You must do you own DD because we are 99% technicians.

Yes we made a handful of trades actually.

The play was the momo guys pulling in the retail suckers and selling off into that strength.

Is'nt that the name of the game? I don't care if they are pulling in an elephant and a giraffe. It's all in the chart (supply vs demand) and thats what make me a technical trader!

I can't imagine anyone rushing out to make the trade on that kind of news.

I guess that all depends on the experience of the trader. I can say this though there were a ton of traders, hedge funds, Institutions in there.

I would rather buy $50,000 worth of stock for a quick .50/$1 @ $5 and get out.

Than buy $50,000 worth of stock in the 20's and hold it for a position and watch it get haulted and drop out of the sky like ABRX. <<< This was a true scenario of a trader I know, let alone he was margined.


I was well aware of the news and information provided to the public about their scenario. I have played these type of scenario's for years and thrive on them, because people panic and the smart traders come in to sweep up there pain.

This is why I like to stay under the maximum of 300 shares on any swing trade, so I don't have to jump out the window when these things happen.
If I can have a bunch of small positions for swings and hit'em hard and heavy during the day, I can sleep much better at night and not worry about my capital becoming a recent memory.

The main point to this whole discussion was... I was wondering if anyone else played it and how they did? How it came this far is beyond me.

All is good though!

[jiesen]

The main point to this whole discussion was... I was wondering if anyone else played it and how they did? How it came this far is beyond me.

All is good though!

My fault- I saw you talking about ABRX and just had to throw my .02 in. Didn't mean to ruffle any feathers, just stating my opinion on the matter.

You're right, though, it's all good! Nothing like a little heated debate to liven things up every once in a while.

[skiracer]

I just thought it was a bad play with the news about what was going on with the company. If you made money on it then it turned out for the best and that's what's important. Other people read your remarks and recommendations and act accordingly. No problem with me just voicing my opinion.

[mtm]

Well if I am making money on it than its not a bad play. So far only one of my plays posted here has gone against me. I think thats a pretty good record so far. But, I understand the criticism I see it all the time.

[mystiky]

Is JMDT about to start another channel up?

COuld this be a long again at around 24.80 - 25? What's the target if it is indeed? Looks to me like 24.60 is support and 29 is resistance.

Opinions?

[mtm]

COuld this be a long again at around 24.80 - 25? What's the target if it is indeed? Looks to me like 24.60 is support and 29 is resistance.

Opinions?

It could go either way. I personally would not trade it for a swing for it has no clear direction. Support would be around the 24.25 area under that would be a gap fill or partial gap fill in the area of 21.50 to 20.00.

I have no bias on it though.

[mtm]

We think today is a great day to start bagging profits and tightening stops. Why?
alot of the stocks that lead this rally up are starting to lose there momentum while the laggers are holding us up. this is not a bearish call just a heads up to take that money and look for a better re-entry if and when it comes.

Bottom line is just don' be greedy on those stocks that have moved big and start looking for those that have not made a big move yet.

[mtm]

Looking for the 1213 to 1216 mark to be an intermediate top on the Spoos.