Seanote; JDSU might be an excellant bargain hunter investment. You helped make me money in 'Six Flags'' I noticed with my trading personality,I'll probably let JDSU clear 20 and 50 day moving averages and so on.[Weakest sector to trade?]. P.S. JDSU was an unusually good name in the past. Volume trended above 50 day average, friday.
Thanks. Futures trading is going well. I'm trading them two days a week on average. I'm hesitant to pick futures or stock only so I'll see how the next few months go and decide then.
Where is your stop on the CYMI short? I notice your are giving this trade a lot more room than normal. Just looking for general ideas on how your are placing your stops. Not your exact stop. Thanks
Closed CYMI @ 38.70. - 1.21 points There's no telling how many people are trying to control this stock right now. There's no news out and it will probably snap back but I don't like the way it's behaved so far today. This could go up another $2 today and then big news hit OR it might be a serious short squeeze (look at the daily chart, it points towards a short term decline) and the specialists are trying to get out of their longs and running the price up.
If you're a serious student of the stock market, then you know that it doesn't matter WHY the market is going up and it doesn't matter WHY the market is declining. It only matters in a rising market whether the market is overbought or whether a declining market is oversold. Today's market has been down 11 out of the past 13 weeks. Although the market has never crashed or even panicked, 11 out of 13 weeks down is a lot. It means that if you're short you have to be very careful, because a rally could come along at any time and wipe you out. The Dow was down over 240 points at one point Friday, but then the Dow closed down only 28.50 points, so it was not a panic day. However, when the market is down during the session and then it spends the rest of the session recovering I always look for one thing -- on the recovery did the market make it to the plus side by the close or didn't it. Friday after the 240 point Dow drop the market spent the rest of the session recovering but it failed to close on the plus side. I never like this kind of action. All the recovery action failed to win the battle. It's like running up the down-escalator but failing to make it to the top. You almost get there, you're tired, you stop and the escalator simply takes you down again. Somewhere ahead investors will feel "right" about loading up for a major rally (upward correction) in this bear market. Ideally, I would like to do it when stocks are being pressured down by panic conditions. Sophisticated traders and investors like to buy when the crowd is tossing in their stocks for whatever the market will bring. In other words, they like to buy when the crowd is hysterically selling. Bonds are breaking out to new highs. New lows on the NYSE are climbing over the 100 mark. These are all signs of stock liquidation. They are signs of the market preparing for tougher times in the economy. Yet we continue to hear hopeful talk, bullish talk, optimistic talk all day long on CNBC and FNN and in Barron's and in the Wall Street Journal and in the various financial magazines. Nobody is advertising this as a primary bear market. Nobody is saying "Screw your great stock ideas, get on the sidelines and stay in cash." That's the way it works on Wall Street -- that is until the bear market reaches its third and final phase. Then as we move nearer and nearer to the end of the bear market, to the great accumulation phase, the media will grow black bearish. It's all part of the game. It's the great Wall Street game. It's a game that's been played for MANY years. It's the game of greed and fear. It's the most fascinating and frustrating game in the world.
I never liked playing the splits... it's too risky for me since I can't pinpoint any consistency, especially in today's market. PNRA appears to be in the upper mid range of it's short term channel, plus the stock is up over $2 today so I would think the winning trade % is slightly higher for the short side, but I'm not willing to be that.