As I had posted earlier, I had a tight stop under FST at 27 and it hit it exactly.
Typically, its best to put stops just under whole numbers....instead of $27, I would use $26.9...stocks have trouble crossing whole numbers up or down, and they particularly have problems with numbers ending in 0...20, 30, 40 etc.
When I first bought FST I had an upper stop of 28. I was thinking of selling at 27.92 that morning and going into Taro, which was 28.54 at that time. With your report of gas and oil staying put or dropping by 10% for the near term; I probably would have made the change; especially since its indicators indicated a overbought situation.
Unfortunately, the article didn't come out til that nite.
I checked some or yours. OI has had a great run, however both its daily and weekly indicators are overbought, and volume has been dropping for 2 wks.
Essentially, OI has been overbought since Nov..........that's because its fundamentals are improving nicely, and its sector is in very high demand at this point in the economy's recovery. In addition OI is putting in the right side of a 5 year cup that should terminate at $50. I suspect OI could continue to run to $25. I will be concerned if it breaks thru its 13 DMA which it has hugged since Nov.
MNTG, the daily indicators are good, but the weekly ones are still dropping. Seems to be in a range since Nov. between 12 and 17.
Actually, $17 was a new yearly high for MNTG when it reported that its machine changeover to more expensive slots had been delayed by the vendor and consequently, earnings will be hurt for a quarter. In typical current investor reaction, MNTG got a haircut to $11+. However, its fundamentals are solid and I thought the haircut was way overdone. The markets appear to have agreed since MNTG is now trading at $14+ and is starting to move back up.
I can see you are more of a long term investor, whereas I favor channeling; 1 to 2 months approx.
Not at all.......I hold a stock only so long as it continues to move up, or goes the wrong way and triggers my stop loss.
Plus I like to go to the out of favors likely to rebound.
I do too.........just made a ton of money on AES and RRI.
Like AMD did 3 yrs ago. Pharmaceuticals should come back in favor as medical costs are rising; and the market rotates to where the money is. Once oils start to roll again, I will switch back; if it isn't too late, as I want to get back in AMD if Xmas, and Hammer are looking good.Just my wag.
Nothing wrong with out of favors but its best to grab them AFTER they have bottomed; otherwise you can lose a lot of money. TARO does not look to me to have bottomed FWIW.
ted
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