(For all you tape readers) I'm long 10000 shares of a

Discussion in 'Trading' started by Sky123987, Mar 27, 2008.

  1. I'm long 10,000 shares of CMO, which doesn't do much volume but an okay amount.

    if I place a sell limit order for 10,000 shares @ the offer. Is this a clue to tape readers to start wacking the bid and driving the price down? ... or was it jus tgoing to go down anyways?

    like my question is do I have to be careful, not to exit this large position is a some what non-liquid stock in a by not show a LOT of size?
  2. (Not trying to be a jerk)...but, I think you bigger problems than trying to offer the stock. Although it has decent price to book, it's below the 200 day and the 50 day MA on double average daily volume.

    That being said, as a tapereading question for "normal" stocks, they tend to go towards the size orers more often than not (as long as the overall market is trending in the same direction.



    And, yes, just hit bids, then leave 900 or so at the same price, move back up when possible.
  3. Don,

    Why do you mean by it has a decent price to book and well below the 200 & 50 MA on double volume? Are you saying that, it's a clue as to the direction of the stock?

  4. Price/Book (mrq): 1.36

    50-Day Moving Average3: 15.119
    200-Day Moving Average3: 12.911

  5. thanks don,

    This was a simple day trade. I really have never looked at only executing the trade (long in this case) if the stock was > than the 50 MA & > 200 MA.

    Are you saying I might want to consider this for a small day trade???

  6. You have 10,000 shares of this and you don't know what a 50/200 moving crossover is. Where are you long from?
  7. I know what that is, however I'm just never really though of using it as a filter where, I'll only execution long positions if the 50MA > 200 MA, but I could definitely experiment
  8. CMO is not a bad company they are heavily tied to the ARM market and have some real estate. If you are currently entering this stock I guess I would ask why as you are getting in here. The question is has this finished correcting? Here is a chart, the stock is between 50 and 200 day, maybe you will get a chance at the 200 day line. Good trading.
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  9. thank you very much.

    I havne't been doing too well lately, and perhaps I'll look at filtering stock out using some TA
    #10     Mar 27, 2008