SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Lizard King's Trading Swamp
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Paul Viapiano who wrote (6042)4/15/1998 11:34:00 AM
From: Craig  Read Replies (1) of 7396
 
Re: PCTY short

At work, so working off memory. Three reasons.
1. Looking for hedge against market. Therefore wanted stock that was overextended and has had a big recent runup. I have a stock database that I review every night of 100+ stocks. It is built from MPT reviews list of 400+ stocks. PCTY was on that list.

2. I have had great success this year using Joe DiNapoli's method of trading which includes using Fibonacci ratios and patterns. PCTY showed a patterned that indicated a possible change in trend using this directional indicator. This pattern uses a displaced moving avg. 3x3. (for those who are familiar, a Double Repo).

3. One of my favorite indicators is OBV. Lay it over the price graph of a stock and you have a good indication of strength. PCTY is very strongly diverging between price and OBV. I my opinion, if PCTY goes down, it will go down quickly with little immediate support.

That is why I shorted. Could I be wrong, you betcha. I will exit my trade if PCTY closes to a new high or at a predetermined profit level. It is a tough market to short in, so odds are not in my favor. But this trade is part of a diversified portfolio of stocks with equal amounts invested, plus I am still heavy to cash.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News