Well I missed on that call also. When I first examined the chart on aria I thought it was iffy at best, but now after the third day up it does look good. I guess one would be chasing this thing now unless you have a longer term objective than it would be a justified purchase only if the fundamentals are supporting your entry. I wouldn't beat yourself up because there are tones of these opportunities out there every day. On a further note: All of these Stocks have done well after the 90 ma crossed above the 200 on the 1min charts.
Trading Thoughts for 1/9/09: DWCH ICOP COOL I'm genuine when I say that I am looking for people to "shoot holes" in these picks. What is it that I am missing that would tell others that these would be bad?
I did take a look at the charts and I didn't see anything wrong with your choices from a technical stand point. But I do have a concern in regards to controlling your risk with a thinly traded market, you wont always get your price. If you could have bought these when they were trading in a channel I guess it would have been great to get a short term pop. But now since they have done just that, you would have to look to see if they are fundamentally worthy of getting in at these levels. I would think that there are so many others that have had good trading volume/chart history established that your chances of just sticking with them would have provided you with better odds for a follow through in price than searching for new shares or just shares that are thinly traded. I hope I was helpful. Keep up the good work.
Ended up staying away from the previously mentioned stocks. Currently, I am holding VZ, GM , and ANDS. Other than VZ, I really don't know why the hell I am holding the other two. Planning to hopefully break even (after commissions) on both early next week.
Im about your choice for holding VZ and your despair over GM and Ands? VZ has been drifting lower and the other two are drifting higher. Are you short?
You know...the thought did cross my mind today regarding VZ. I Bought in at 32.11 and from what I can see it looks like it should get back to just under 33 tomorrow. I'm not ready to short stocks right now. I need to get myself to a more confident level of seeing the upside before I try to predict the downside. After looking at the performance for GM today, I agree that it's worth holding a "little" longer. My analysis of ANDS was telling me that I bought ANDS too high (which I did) and then started watching it drift back to where it was 4 days ago. Dumped it today to basically break even (less commissions). Eric Koldony has some great predictions, but I need to understand that his short holding strategy differs significantly from my swing trading strategy that I am still trying to develop.
Originally when I first saw your picks VZ was the first one that stuck out. I guess I thought it was an expensive purchase compared to all your other past picks. If your able to trade a stock why not buy a stock that is in the below 5$ range. You can buy more for less and your pop ups in price can give you a bigger return. If you choose to go in light you can scale down later to price average and get a better entry. Another reason not to buy expensive. The indexes are being pounded daily! If anything stick with small caps. The Russel seams to be less weak, it doesn't give up too much ground and it rebounds well. Just an idea for ya to think about.
Tomo had a big spike down in price towards the end of the day. For me its a sign of weakness plus my moving averages are still crossed down on the 5mn. If you looked at the moving averages 90 and 200 you would have seen that they were getting close to crossing over to the up-side and then you got a nice spike down which tells me that the shorts aren't ready to let go.