FinGad is a Place to Review Strategies With Fellow Investors
Not a member yet?
Not a member yet?
|
anderson's review
Investment Sector: Recreation Submitted by Anderson 
, Senior Architect
at Computer Merchants
11 months ago Tags: t659t t605t t797t t376t t619t t438t t719t t972t t166t t436t t678t t244t t640t t348t t404t t285t t980t t842t t916t t779t t672t t358t t961t t195t t755t t958t t553t t54t t298t t555t t788t t893t t432t t976t t366t t979t t189 Add Tag |
Possible Japanese Candlestick Chart Trades for December 27, 2007
[ Login to Propose An Edit ]
Thank you very much for the emails and messages of support and encouragement. You are helping me to fine tune my trading skills. Keep those cards and letters coming!
What do I do on a Dow Down 200 market, with the S&P losing 1.5%? Simple. Keep going, fine tune my stop loss points, look for opportunities, and even (see below) make a trade or two. Even on the worst day of 2007, with the Dow down 400 points, there were still thousands of stocks that went up. Today, the dry bulk shippers were on fire, because of an an investment by DryShips (DRYS - up 6.5%) in a Norweigian bulk shipper. You would have done as well in Paragon (PRGN) or Diana Shipping (DSX), both recent Jim Cramer picks. Full disclosure: I am long DRYS.
Some more of my rules:
1) I am not a day trader. After I buy, I want to hold for at least one day, so I can analyze at least one candle. I buy only if the stock trades consistently (for about a half hour or so) above its previous day's close. This may seem against the idea of buying for the lowest price, but I'd rather see that the stock has legs. If the price never gets there, I don't make the trade. After the buy, I set a stop loss that's below the previous day's low with the idea that if I'm stopped out there must have been a real bad reversal during the day. Hopefully, that's a rare occurrence.
2) I look for stocks that are a bit beaten down, with a tentative price target the most recent high. I'm looking for stocks that can retrace to this level. If the stock starts to lose momentum, I sell.
3) As the stock goes up, I adjust the stop loss point to eventually cross break-even and then lock in profits. I don't sell at the market but rather at a stop loss very close to the market price.
UPDATE ON PRIOR TRADES
URI had some news that could potentially help its stock price. Moody's upgraded their debt because the Cerberus merger failed. Though the market was down 1.5%, URI closed at 18.42, down only 0.5%. I also raised the stop loss point on URI from 17.50 to 18.
TRADES TODAY
I bought BioAvail (BVF) at 13.45, with a stop at 12.50. BVF closed at 13.42, essentially flat - good performance for today. Since UNTD and CROX did not sustain my price target, I did not pull the trigger.
POSSIBLE TRADES FOR DECEMBER 28, 2007
I will be looking at the price action in these three stocks, which generated a favorable candle pattern today, and closed up in spite of Benazir Bhutto's assassination and the durable goods report.
1) UnderArmour (UA) generated a bullish harami, closing at 43.06. I will buy if it sustains a price of 43.15 with a target of 60.
2) Guess (GES) generated a hammer after a downtrend - a bullish signal. It closed at 40.40. My target is 46.
3) NutriSystem (NTRI) generated a bullish engulfing pattern, closing at 28.09. I will buy if it sustains a price of 28.15 with a target of 32.
What do I do on a Dow Down 200 market, with the S&P losing 1.5%? Simple. Keep going, fine tune my stop loss points, look for opportunities, and even (see below) make a trade or two. Even on the worst day of 2007, with the Dow down 400 points, there were still thousands of stocks that went up. Today, the dry bulk shippers were on fire, because of an an investment by DryShips (DRYS - up 6.5%) in a Norweigian bulk shipper. You would have done as well in Paragon (PRGN) or Diana Shipping (DSX), both recent Jim Cramer picks. Full disclosure: I am long DRYS.
Some more of my rules:
1) I am not a day trader. After I buy, I want to hold for at least one day, so I can analyze at least one candle. I buy only if the stock trades consistently (for about a half hour or so) above its previous day's close. This may seem against the idea of buying for the lowest price, but I'd rather see that the stock has legs. If the price never gets there, I don't make the trade. After the buy, I set a stop loss that's below the previous day's low with the idea that if I'm stopped out there must have been a real bad reversal during the day. Hopefully, that's a rare occurrence.
2) I look for stocks that are a bit beaten down, with a tentative price target the most recent high. I'm looking for stocks that can retrace to this level. If the stock starts to lose momentum, I sell.
3) As the stock goes up, I adjust the stop loss point to eventually cross break-even and then lock in profits. I don't sell at the market but rather at a stop loss very close to the market price.
UPDATE ON PRIOR TRADES
URI had some news that could potentially help its stock price. Moody's upgraded their debt because the Cerberus merger failed. Though the market was down 1.5%, URI closed at 18.42, down only 0.5%. I also raised the stop loss point on URI from 17.50 to 18.
TRADES TODAY
I bought BioAvail (BVF) at 13.45, with a stop at 12.50. BVF closed at 13.42, essentially flat - good performance for today. Since UNTD and CROX did not sustain my price target, I did not pull the trigger.
POSSIBLE TRADES FOR DECEMBER 28, 2007
I will be looking at the price action in these three stocks, which generated a favorable candle pattern today, and closed up in spite of Benazir Bhutto's assassination and the durable goods report.
1) UnderArmour (UA) generated a bullish harami, closing at 43.06. I will buy if it sustains a price of 43.15 with a target of 60.
2) Guess (GES) generated a hammer after a downtrend - a bullish signal. It closed at 40.40. My target is 46.
3) NutriSystem (NTRI) generated a bullish engulfing pattern, closing at 28.09. I will buy if it sustains a price of 28.15 with a target of 32.
Did you find this article useful?
Add Review to: 
1 comments ↓