Nice going! The stock had good momentum, good volume, and was beginning an up cycle. So, you timed the purchase well. And as they say, "when" you buy is much more important the "what" you buy. If you don't mind some comments... I show ADBE with a relative strength ranking of 69. And while thats not "Bad", I have found that you will have a higher success rate focusing on stocks showing a RSR of at least 80. Not to say you can't find big winners with low RSR stocks...Lots of people do. For me, however, I find the odds are just less. So, where do you plan to take profits? Don't get too greedy now. Remember, this has been a choppy market, so taking quick gains, is a good idea. I'd guess 30.10 is a good goal (4.4%). It's a 50% retracement from the high in April to the low in August. But, you decide for yourself. Good luck!
I haven't used RSR-to analyze, but i'll check it out. I'm looking around 30 to get out-tentative. Thanks for the feedback.
ADBE looking good at $29.85 setting my new stop at $29.30. I might ride it for a day or two then sell. Any thoughts? I visited stockcharts.com and found some interesting free stock scans for research-aroon and adx caught my attention-if you've used these before let me know if it was useful. My home renovation is almost done I helped the contractor paint and bought a new sprayer-my advice save your money and use rollers and brushes. It was a hassle to use that sprayer. Im about $1K over my initial cost but we are very happy with the results so far. Well my trading career has been an education and now i am more careful in reviewing and selecting stocks for purchase. I haven't shorted anything yet-small steps for me first.
ADBE @ $30.60 i'll probably get out tomorrow after some research. I've recovered most of my losses with my first trades. ADBE been flying high for the past couple of days so i think its time i take my profit.
Way to go. Good to hear your still holding. It cleared the 50% retracement with no problem and closed above the July highs on good volume. The 62% resistance is around 31.05, so keep that in mind.
Bought 100 shares of yhoo @ $ 34.50, however it was down today closing to $ 34.10 my stop loss is set at $ 34.00. Yahoo was looking good and is on an uptrend breaking through a recent climb earlier last week. I'm confident it continues.
I hope your right. It's got a decent weekly chart. However it has a low Relative Strength Rank of 48, (although it has been improving). And I think it could be tough getting through 34.60, as this is the 23.6% retracement of the high from early June to the low of last September. However, you could have a good thing. I'm always tend to be preoccupied with what could go wrong.... I hope it does good for you. Good luck.