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Strategies & Market Trends : Strictly Buy and Sell Set Ups
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To: uncle1 who wrote (5234)8/25/2005 9:48:05 AM
From: profile_14  Read Replies (1) of 13449
 
uncle1, I do not really have one set up. I know that if you look at the moving averages there are obvious stops for RIO at the 50 and 200 day marks, but SID does not follow those averages very well. These stocks trade on fear and fundamentals. The fear will drop them on scandals, the world is coming to an end scenarios, and the fundamentals will say that they should be much higher than where they are. Therefore going long these stocks is not hard for me. They are Brazilian ADRs, but I was raised there so I know the culture, read the news in portuguese to get the first hand flavor of what is going on, and know anecdotally the quality of the management through the reading I do. I do believe there is more to be had to the upside, and the dividends are large by US standards. With the US dollar weakening going forward, I think foreign equities become increasingly attractive.

I also successfully flipped some INTU puts I bought at the near the close last night. INTU has a very seasonal pattern and I am looking for those patterns into year end and also patterns exhibited by earnings announcements.

EDIT: having said that, I will trade these positions around within a minute if I feel the market will not support the moves.
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