just went long IBM.. anyone hate that trade?

Discussion in 'Stocks' started by jrlvnv, Jun 9, 2006.

  1. jrlvnv


    Went long at 77.70 on a stop and got filled at 77.58... Talk about price impovement... Stop is 76.70 and looking for 79.70. First trade with IB... Anyone hate the trade? Comments???
  2. is it a day trade, a swing trade or an investment for long term?
  3. jrlvnv


    Just a 1-3 swing trade... Profit not set in stone but if I get a buck in profit then I'll adjust the stop and try and run it up and get out based off my strategy on moving averages
  4. I dont like the trade because its a counter trend trade and I am more of trend swing trader (selling rallies in a downtrend and buying pullbacks in an uptrend). But if this works for you than thats fine but be careful with trying to pick tops and bottoms.
  5. Better be a day trade or a brief swing trade. It broke down from a well defined mult-week triangle and $80 is a nice round number.

    Only redeeming qualtity is a fair amount of insider ownership relative to its large float.
  6. nitro


    IBM's price will double in the next 3 years.

  7. jrlvnv


    I put in my order when the price was at 77.60 and I put it in saying... Buy limit price of 77.70 and I watched it hit 77.70 and then my order was executed. Check the price and I was filled at 77.58. I take it that, that isn't very normal.... Am I correct?
  8. Have to be frank and tell you that I hate that "trade", unless you've taken catching a falling knife as your vocation. It would've been less troubling if you told us that you're a value investor and are willing to average down several times on the way down with an average holding period of a few years. Just remember that a lot of "traders" turn into "long term investors" and then they go bust.

    As for the best pricing you got that's perfectly natural for smart routing. You bid, then someone else offers at a lower price on another ECN, and your limit order gets rerouted to your benefit.
  9. jrlvnv


    Is there a way to see that or would that make trading "too easy"
  10. Don't like the trade if you're thinking 3 handles on the upside. No way we hit 79.70 by next wednesday.
    #10     Jun 9, 2006