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Here's another very nice tobydad profile. I'll put a buy order in on this one Monday morning.
Good hunting.
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Just looked at indexes. Next week looks very iffy on the bullish side.
You may want to be very careful entering this or any other long.
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Joined: 10/7/2004
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I believe it's time for this. Conditional buy order for 1.79 is in.
Prepare to reap, friends.
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Joined: 1/30/2009
Posts: 267
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I bought 10 call options on this late last week. I heard something big may happen with this stock within the next few months. Something about a 1000% gain, but rumors are rumors. Anyway, I bought March 2011 calls so I have time to wait this out.
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What do you think about CIT?
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Joined: 10/7/2004
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69% gains so far.
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Joined: 1/30/2009
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I am happy today. Let's hope it gives us more tomorrow.
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Joined: 2/19/2008
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TD It looks like you went in on DPTR on 08/17. Price was under Lr30 but there appeared a dragon candal. Would you go in on a stock based on bullish candals even though it may not be above lr30. I'm noticing that a lot of these pop when rising above LR10.
By the way I was in this and left with a 12% gain for some dumb reason. Went up 50% the next day. Had to laugh/cry. Maybe there will be time to get in again. Can't complain though, I'm grateful for the other gains.
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Up 88% since entry. Praise the Lord for being good.
Jean, 12% in a few days. And how is that bad? Remember, a big part of winning in the markets is the psychological. You are exactly correct in the posture you are taking. Be glad for the 12% gains. Be hysterically happy. After all, how many people don't get a 12% return in a year? And you just got it in a few days? Yeah, you better be happy. Darn right!
When people put their focus on regretting missing the rest of the trade, they tend to do stupid things the next time around. Remember what I've said many times, any kind of profit is always better than any loss. Simple, right? Amazing how many people forget it.
There are many other factors that can be discussed, you can always take a partial profit--enough to cover your original cost--then you let the rest ride and see what happens.
Maybe others can chime in here with some good guidance.
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Joined: 6/6/2005
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Excellent advice Tobydad,
I had a few thoughts as well that might help:
If you sold early because you neglected some part of the method you can work to improve that. And focus on the method instead of the profits or the individual trade.
If you got nervous because a position size that was too large for account equity you can change that as well and be sure to position in a way that you won't get nervous over potential wins or losses.
I like tobydad's solution of taking partial profits. in the beginning when you are learning to let profits run you can take profits off the table on the way up to ease the psychological preasure.
It's also good to recognize that a system doesn't have only 1 winning trade. There will be other days and other trades.
For example:
A few weeks a ago I had a trade on in VG. I had gotten in in the low .40's and my system called for me to exit 75% of the position at 100% gain and let the rest run.
For some reason or other (I think it was forgetfullness) I closed out the entire position in the morning on target. I was shocked to see it rise another 150% that day.
I reviewed my exit rules and found that it is better to close these positions at the end of the day, that way on heavy momentum days I could use that to my advantage.
I closed out the day by letting all feelings of stress or loss become dwarfed by my sheer gratiutude of being able to trade, being able to catch 100% winners and being able to share with others. I also knew that another trade like that would come around -- it might be months or years but they always show up.
Wouldn't you know -- the very next day the same thing happened with WAVE -- but this time I stuck to my rules and enjoyed a 165% day. I was thrilled -- not for the money but because I was able to show myself my growth the very next day, and how life shows us sometimes that we have no idea how amazing it can be and not to put a lid on it.
I say, listen to tobydad, and be open, receptive and grateful.
David John Hall
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DJH;
Good advice, as always.
One more thought, I've mentioned the use of a watchlist I call, "In Play". These are stocks from which I have exited (because of my system) yet that show potential for additional gains when they re-configure to my liking.
So next time you grab that quick 12% (I do it frequently), put the stock in a similar watchlist (call yours what you like) and keep an eye on it for the next move; then hop aboard and enjoy the ride.
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Joined: 2/19/2008
Posts: 193
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I appreciate the advice. I like the idea of taking partial profits. Since this is so new to me I used a trailing stop several times once the stock hit 7%. I don't usually do this, usually I look at the candals, but I'm being careful. On both trades I went back in the next day and gleaned more profit --OREX and DPTR.
I did take your advice and start an in play list awhile ago.l I also have a dragon incubation list, a dragon waking list, and a birth list for today's plays. Can you tell my gender?
Looks like it might be time for TIBX if the market cooperates tomorrow.
After so many years of study and floundering, I am so grateful.
Thank you.
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Joined: 5/11/2009
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wow tobydad, this stock is now $4.17
nice trade
do you still own it?
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Joined: 10/7/2004
Posts: 2,181
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Still in, added to, adding to again at the right time. Broke through more resistance recently. I see no reason this thing cannot really fly.
It may be a nice Christmas.
...oh poppycock! It will be a great Christmas either way; why, we're all together and we have our health. What else do we need?
But DPTR at $22 would make it that much merrier.
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I'm just waiting to go back into this again, let me know when you do, OK?
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It might consolidate for a bit and come to rest around 3.25 or so; on top of the LR30. I'll be adjusting daily a buy order 1 penny above the high of each previous day.
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Joined: 1/30/2009
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QUOTE (tobydad) Still in, added to, adding to again at the right time. Broke through more resistance recently. I see no reason this thing cannot really fly.
It may be a nice Christmas.
...oh poppycock! It will be a great Christmas either way; why, we're all together and we have our health. What else do we need?
But DPTR at $22 would make it that much merrier.
I am still very happy with my position here. $22 would make for a VERY nice Christmas. Let's hope for BIG smiles before then.
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OK, well now what do we do? This is interesting. I don't ever remember following my rules completely and enduring a one day 45% drop in price.
Well, the times, they are a-changin'!
So, where do we go from here? Well, first of all, this is why I like buying so low. You see, I'm still at a 25% gain in just over a month. Now, is that as good as the 125% gain I had yesterday? Well, no, not really. But it's not nearly so devastating a feeling as having a 75% gain one day and a 10% loss the next.
Now, how could we have avoided this? (When I say "we", I am speaking, primarily, to those that trade like me, you have a day job or a business you run or, you just don't like sitting in front of your computer all day). Well, I did break one rule that would have saved me from this. On 9/11 (huh, fancy that!), I had the infamous stick-of-dynamite candle completely detached from the ubb20; a classic sign that the run is over. I could have watched volume more closely and noted that volume pulled back as the stock climbed.
Am I panicking? No. And here's why, the 5ma is still over the 20ma; the 20ma is still over the 50ma. And the price can come all the way back to around 2.01 or so before it hits its supporting trendline. Also, looking at a weekly chart, and with respect to the body of the candle, we have an inside week rather than a bearish engulfing week. Of course, not to mention it's oil and I really don't think oil is going away just yet.
No, I'll hang in there. Wish I had sold on the 11th for nice gains but it makes no sense to freak out now. I won't lose money on this and I suspect with some patience, I'll just reload, climb next time with a larger position garnering even greater profits...and I'll be a little more careful about following my rules.
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Oil is shooting higher in late trading. I suspect this was a push down (yes, even with the bad news). This may drop further and then we will have to write it off for now. But I suspect this is about to take off again.
I guess we'll see. Huge volume today.
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Joined: 4/13/2009
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Tobydad, I would like to know what you think of TAMO.ob. It is on the pink sheets but is an oil and gas company that is trading around .77 but has some interesting news. If you have the chance to take at look at it . I would be interested in your thoughts. I know you trade off of charts but I would also guess that news does come into play also.
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Hi Tobydad,
Would you recommend waiting for this to set up like the TD profile or would you start going in at a penny over the high each day? By the way Jon on the pullback to breakout thread has questions for you about how close you stick to your TD profile rules. Such as how important OBV is.
I hope we aren't bugging you too much about this. I figure you've had many questions about it over the years.
Thanks
Jean
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QUOTE (Tiger1220)
Tobydad, I would like to know what you think of TAMO.ob. It is on the pink sheets but is an oil and gas company that is trading around .77 but has some interesting news. If you have the chance to take at look at it . I would be interested in your thoughts. I know you trade off of charts but I would also guess that news does come into play also.
Tiger;
Looks interesting. It's being supported by LR30 so now may not be a terrible time to buy but the markets are looking very weak at the moment. Always keep in mind that some big buyers will collect their position gradually. So these bursts can come along for quite some time. There is some immediate overhead resistance so I'd be careful with this unless you're seeing it long term.
On the other hand, it could fly but, from a technical perspective, that would be tough to tell right now.
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QUOTE (sailnadream)
Hi Tobydad,
Would you recommend waiting for this to set up like the TD profile or would you start going in at a penny over the high each day? By the way Jon on the pullback to breakout thread has questions for you about how close you stick to your TD profile rules. Such as how important OBV is.
I hope we aren't bugging you too much about this. I figure you've had many questions about it over the years.
Thanks
Jean
Jean;
If you are going to do anything with this right now, I'd definitely use cbo+1 on consecutively descending highs. But, again, the market looks a little queazy right now. Just be careful.
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Joined: 4/13/2009
Posts: 122
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QUOTE (tobydad) QUOTE (Tiger1220)
Tobydad, I would like to know what you think of TAMO.ob. It is on the pink sheets but is an oil and gas company that is trading around .77 but has some interesting news. If you have the chance to take at look at it . I would be interested in your thoughts. I know you trade off of charts but I would also guess that news does come into play also.
Tiger;
Looks interesting. It's being supported by LR30 so now may not be a terrible time to buy but the markets are looking very weak at the moment. Always keep in mind that some big buyers will collect their position gradually. So these bursts can come along for quite some time. There is some immediate overhead resistance so I'd be careful with this unless you're seeing it long term.
On the other hand, it could fly but, from a technical perspective, that would be tough to tell right now.
Thanks for your point of view. I have been looking into the news of this company a bit more than normal and have been burned by the pinks before. I still have to wrap my head around on "sell on the news and buy on the rumor". The news looks interesting but I will watch and see what happens. I will also follow the charts and go from there. Since TC does not do over the counter stocks I will use some of my other charting programs to set up with the needed indicators. I am now playing with thinkorswim from one of my accounts that has a lot to offer. I now have another platform to learn but it has good promises.Again thanks for your imput.
The tiger
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by the way, folks, I just read that Goldman-Sachs is expecting oil to go back to $147/bbl shortly (who knows what "shortly" means; it's the word investment advisors utilize to make themselves always accurate in their forecasts).
Anyway, DPTR, FUEL and others should benefit nicely from these. I'm watching for the right time to re-enter DPTR and already have 20,000 shares of FUEL. Also holding ZN which I have not spoken of much, if at all. Looking at charts, one would think not but the story behind this company is amazing and so are some of the recent oil finds in Israel.
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Joined: 8/31/2009
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QUOTE (tobydad) ... and already have 20,000 shares of FUEL. ...
How does one go about accumulating 20,000 shares in a thinly traded stock like this?
Can we negotiate with the broker and say get me 20K shares at 32Cents for a flat fee ?
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Joined: 4/13/2009
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Watch out for FUEL, A little news for this wednesday on a reverse split. These have never been good for me.
SMF ENERGY CORPORATION (Nasdaq: FUEL - News), a leading provider of specialized transportation and distribution services for petroleum products and chemicals, today announced that it will complete the previously announced reverse split of its common stock at a ratio of 1 share for each 4.5 shares held. The Company expects that the reverse stock split will become effective on September 30, 2009, and will result in approximately 8.56 million shares of common stock outstanding instead of the approximately 38.50 million shares currently outstanding.
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Joined: 9/27/2009
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QUOTE (rysa) QUOTE (tobydad) ... and already have 20,000 shares of FUEL. ...
How does one go about accumulating 20,000 shares in a thinly traded stock like this?
Can we negotiate with the broker and say get me 20K shares at 32Cents for a flat fee ?
On an average volume (3month) of almost 500,000 shrs you should have no problem of adquiring 20,000 shrs.
Enter an all or none order and I bet you it will be fill within a minute - assuming you are buying at the bid.
If your broker is a discount broker you should have no problem with a flat fee, otherwise you probably will be wasting your time and someone else's.
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Joined: 8/31/2009
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QUOTE (cornel1810)
On an average volume (3month) of almost 500,000 shrs you should have no problem of adquiring 20,000 shrs.
Enter an all or none order and I bet you it will be fill within a minute - assuming you are buying at the bid.
If your broker is a discount broker you should have no problem with a flat fee, otherwise you probably will be wasting your time and someone else's.
Sorry, My Mistake...
Being new to Telechart, I was reading Volume numbers incorrectly. I have had trouble getting filled up completely with ScotTrade in the past.
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Tamo breaking higher today, up now .27 and looking to move even higher.Good news on it making it soar.
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QUOTE (hiromj) What do you think about CIT?
I think their bondholders will do well going foward. CIT just got tapped out for their stockholders. The change is a net plus for teh economy.
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QUOTE (tllucero) QUOTE (hiromj) What do you think about CIT?
I think their bondholders will do well going foward. CIT just got tapped out for their stockholders. The change is a net plus for teh economy.
Thanks. I decided to hold my position and see whet happens from here.
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Was *not* saying to hold *shares* of CIT. That could go to zero. But the bondholders of CIT should have a little more haircut, then as they get moved from bondholders to stockholders, the cash flow improves, as stockholders don't clip coupons, and the CIT spread (lending rate minus cost of borrowing) should also improve.
Again, this probably does not help shareholders of CIT (but I haven't seend the bondholder response to the latest offer from CIT management).
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I am not holding CIT shares. I am holding call options. If I was holding shares, I definately would be out. But even if the options become worthless, my position is not big enough to do any damage. Strange though how the price spiked hours before the announcement. Within an hour I changed from getting ready to selling half my position and locking in profits, to watching the profits dissapear. Same as with DPTR. What was the old saying? "What the techinals givith, the fundamentals taketh away". Lessons learned.
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I am not holding CIT shares. I am holding call options. If I was holding shares, I definately would be out. But even if the options become worthless (which they are close to now), my position is not big enough to do any damage. Strange though how the price spiked hours before the announcement. Within an hour I changed from getting ready to selling half my position and locking in profits, to watching the profits dissapear. Same as with DPTR. What was the old saying? "What the techinals givith, the fundamentals taketh away". Lessons learned.
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DPTR, the time has come.
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Joined: 2/19/2008
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Hey Tobydad, what do you see that I don't see?
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LR30 and LBB20 support on a bullish price pattern, TSV26 well above 0 on huge volume within 90 days and a big fat gap between $3 and $4 dollars waiting to be filled.
This stock was climbing on huge volume. I think it may be getting manipulated.
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Joined: 4/13/2009
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Not sure if you know about this but I came across this today, was not even looking for it, but does give some info about DPTR.
Quote"By Samantha Pearson in New York Published: November 30 2009 15:30
Elsewhere, Delta Petroleum lost 1.1 per cent to 91 cents after the oil and gas producer announced a review of strategic alternatives, including a possible sale of the company.
The stock has lost more than 80 per cent of its value over the past year, mainly due to the failure of the company’s first mining project in the Columbia River Basin.
Billionaire Kirk Kerkorian, who controls a third of the company, has also suffered in the aftermath of the Dubai crisis." Quote.
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