Jay Looks like in the longer term timeframe, I was right. RICK is going up and VCGH is going nowhere. Like I said, there is no play here in this cheap shit stock unless big volume steps in and shows some interest. Now that the downtrend is more of a confirmed break, RICK should move to $26 at prior highs. Doesn't bother me at all that we got stopped out though, we traded it properly according to our rules and timeframe. One thing to note is that when the 20ma fails to hold your next stop is the 50, which in this case held it perfectly and was the launching point for a stronger move than the little one that e played off the 20. More details for the newbies are above in this very thread....... -shadow
oops, meant to say more details in this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=127996
lol..i said i was going to sit on this for 3-4 months..you guys seriously crack me up!!! shadow you were wrong....your trade lost money! face the music..you were early and got stopped out ..you never re iterated a new buy signal...so you were not right period you were wrong! i am confident this trade will play out...rick will not continue much above 25...vcgh will soon break out to upside at least i am not making excuses and calling the move in rick stupid shit like shadow did when he got stopped out on rick..i am down now but holding..this is not a day trade you guys...anyway shadow...being right a week later is not being right....you had a good idea..but you were early...and wrong..i wish you would have been right..anyway you were not...i was right on this spread but now i am wrong...i am risking spread 4 bucks...then i am out. once again..now is the time to put on this spread even better than before!
robbie..what have you done lately? seriously...i havent seen a positive contribution from you..eh....ever. stock turder...um you guys intraday trade...rick has only gone up the last 2 days...rick and vcgh are both garbage! and thats why i am spreading rather than going outright with shares...
yeah it's hard when no one will listen. again...you are shorting the strong stock and going long the weak one. i've watched pairs trades turn into complete trainwrecks...especially one like this where the "spread" has been getting bigger and bigger for months. which means there is no real correlation anymore. we aren't talking about 2 equally strong stocks or 2 equally weak stocks where there has been no real fundamental change with the companies. 1 stock is executing well and staying strong the other is fumbling and falling off a cliff. who knows...maybe you will get lucky but that's all this trade will be if you happen to make money on it...luck. and i am trying to give you constructive criticism on this trade but when people refuse to recognize the fundamental flaws with the trade then it makes it hard to contribute anything positive.
spread is at 17.80 now up 32 cents per share..rick is getting killed.. down 8 % today... i would like to address that robbie stated that if i make money in this trade that it would be LUCK... i think a little luck is involved with all winning trades.. but there is no luck involved by spotting two garbage stocks..and selling one that is way overvalued and buying one that is undervalued... also holding this spread is not luck it is skill...so if i am profitable..i was smart and if i am a loser then i was dumb.... robbie let me see a current trade from you, so that we can all see how "lucky" you are... it is easy to be a spectator and judge opthers..give me a break!