Registered User
Joined: 3/25/2005
Posts: 864
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How high can this Financial Services concern go?
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Registered User
Joined: 1/12/2006
Posts: 296
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Short-term, as high as 11/21 close. This has had at least a 40% run-up. 11/22 shows weakness after this super gain. At the minimum, you should sell half the position and put cash in the bank, allowing it to be bought later at a lower price (if you still like it).
Of course, this is just my opinion. I have had spectacular run-ups on a few stocks, didn't sell, and they all came back down. A lot of traders take profits at 10, 15, and 20%.
40% plus is a lot!!
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Registered User
Joined: 12/5/2004
Posts: 49
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I like IBD.
I follow the top 5 stocks each week of the IBD 100 list.
Any time one of them breaks above a little base like ( GROW ) did a couple of weeks ago, they can run for miles, just like ( GROW ) is doing.
I always sell early and let someone else make some money. I hardly ever sell half of a position. I will at times buy half or a fourth of a position, but when I sell, I sell. I am not saying it is the smartest way, but it is my way.
IBD has a large following and when one of their stocks start to run, don't hesitate to jump on. But when one of their stocks start to slide don't hesitate to sell.
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Registered User
Joined: 12/7/2004
Posts: 393
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I wouldn't hang around to find out. This weeks rise could mostly be short covering. 
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Registered User
Joined: 3/25/2005
Posts: 864
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The reported doubled profits on Nov 9 and a 2 for 1 split due on Jan 22.
Can you see this one excellerating a little higher before the split or what?
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Registered User
Joined: 12/19/2004
Posts: 415
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QUOTE (laphill) I wouldn't hang around to find out. This weeks rise could mostly be short covering. <img src="/training/images/emoticons/smile024.gif"/>
Now how would anyone know this for sure? The volume looked good, not great. Up days had more than the down days. I'm not saying it will go to $100 next week, but I see nothing wrong with it. Financial disclaimer that I have no position in it either.
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Registered User
Joined: 1/12/2006
Posts: 296
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bknight........re-read my earlier post very carefully (it's about learning how to "read the tape" and taking profits.
Also, re-read laphill and willimike comments.
As of 12.20 P.M., FROW is down $4.30/share.
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Registered User
Joined: 3/25/2005
Posts: 864
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Looks to me like a very good buying opportunity today for those who are just hearing about this stock.
Several opportunities to buy on a dip today.
For short trading sessions like today, if you are not looking to buy a stock on a dip then you should definitely look for something to short as I did with MWRK today.
Today is the one day out of the year when I know for certain I can make money by shorting -- Never fails!
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Registered User
Joined: 11/24/2006
Posts: 1
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Short/puts look good on this...
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Registered User
Joined: 11/22/2006
Posts: 28
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I like IAAC much better than GROW.
Not to steal a word, but IAAC is growing a lot faster than GROW and I think it is still under more radar screens.
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Registered User
Joined: 3/25/2005
Posts: 864
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Well, IAAC, has one good thing going for it and that is that it is in the same industry sector as GROW.
But, it did not make my cut because the average monthly volume is too small for what I look for.
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Registered User
Joined: 11/22/2006
Posts: 28
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QUOTE (memorableproducts) Well, IAAC, has one good thing going for it and that is that it is in the same industry sector as GROW. But, it did not make my cut because the average monthly volume is too small for what I look for. <img src="/training/images/emoticons/smile004.gif"/>
What do you look for in monthly volume?
(IAAC averages 300,000+ per day for the last several months)
*I find if I have too high of a volume screen, I usually miss major moves and end up finding a company well after major runs
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Registered User
Joined: 3/25/2005
Posts: 864
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I would say that an avg of 300000 should be the minimum in anybody's scan setup.
But, personal preference for me would be no less than 400000 avg volume.
In the past, many experts proclaimed that no less than 500000 avg volume was best suited for all scans. Nowadays, for whatever reasons, they have up the ante to suggest that you should look at avg volumes of no less than 1000000.
I see nothing wrong with continuing to use the old bellweather of no less than 500000 avg volume. But, I still find consistency in my choices for reliable short term plays at the 400000 avg volume level. So this is what I use.
For me, things start becoming more inconsistent as a reliable short term play when I drop down to the 300000 avg volume level. So, I don't look at stocks at this level anymore.
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Registered User
Joined: 12/19/2004
Posts: 415
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QUOTE (kokoda) bknight........re-read my earlier post very carefully (it's about learning how to "read the tape" and taking profits.
Also, re-read laphill and willimike comments.
As of 12.20 P.M., FROW is down $4.30/share.
Not to fan the flames, you don't indicate what set of factors determine you analysis, whether it be right or wrong.
As for the short covering, my question still is unanswered by any post.
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Registered User
Joined: 3/25/2005
Posts: 864
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When I first mentioned this one, it wss a still in the high 40's. Today, the high was 60.00.
I hope some of you took advantage of this tip back then.
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Registered User
Joined: 12/5/2004
Posts: 49
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I played the breakout and sold before 40. I always tell myself never sell above the 10 day but I always sell the run away freight trains too early.
When the market is strong the IBD top 5 usually leads the way.
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Registered User
Joined: 3/25/2005
Posts: 864
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As of this intraday posting, GROW is 66.76.
How much higher can it go?
Well at this rate, I believe it could cross the 70-75 mark before the split on 1/22/07. Maybe even higher, as stocks often runup in price before a split. This one is huge for Position traders.
Money is pouring in to these financial concerns maybe at record pace right now.
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Joined: 12/5/2004
Posts: 49
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Gitter Done!!!
I love to see somebody get rewarded for having the courage to hang on. I always unload as soon as I am satisfied.
I remember my mom staying with ( AOL ) through 3 straight 2 for 1 splits, while I think my longest run was a week and a half.
I have noticed a lot of IBD's run aways usually stay ontop of their 10 day mov avg until they are ready to take a break. But don't let me or anybody else mess with your head on this one.
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Registered User
Joined: 3/25/2005
Posts: 864
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Thanks Willimike.
As is the case with all of my selections, no charts were involved.
It is the announcement of the impending 2 for 1 split so far away from the actual date and the fact that their profits are being fueled by a continuous flow of money coming in from investors who want them to manage it that continues to influence my preference for this stock.
Because the split is still more than a month away and because of the success of somewhat related industries between this company's industry and Goldman Sachs industry where profits are also skyrocketing, I have to believe that the climb for this stock is not over. Perhaps reaching $80 per share before the split may not be totally out of the question either.
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