Registered User
Joined: 9/2/2009
Posts: 85
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Hey all,
I posted this response mostly in response to davidjohnhall liking/watching this stock. First of all djh, thanks for responding to my three current picks of Opxa,Nvgn, and Pran... I appreciate and respect your judgement. I will add it to my watchlist. It is not a bad pattern, and did match most of my criteria, except for two rather significant parameters: 1) I prefer the 200 sMa to have a recent , say 3-5 month slope, tilting upwards, and 2) looking back in time, usually say 4-10 months, what I have coined a rather tight, "pipe channel." I have studied big winners, and these two always show up. The most recent example, Royl ! Went from $1.73 to $5.56. Also others to mention from the past, Redf, Sify, Gene, Jva,Shz,Chgs,Cdti, Txcc, to name a few. Nyny is coming down on lower lows, so that is a little more risky. This is why I prefer Opx, Nvgn , and Pran at this time.
That said, this is my prediction on Nyny. Currently in the low 60's (cents), it has over head problems at 65 to 73 cents. IF it sinks lower into the 40's, I might consider it. It however has downside risk to about 30 cents.
Conclusion :
Buy: 45 cents +- ?
Sell: 91 cents to $1.02 ( 95 cents average target), provided it clears 75 cents easily...
Thanks,
Feedback appreciated(especially david),
StarwoodIP
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Registered User
Joined: 2/1/2005
Posts: 36
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I'm kind've new at trading and I've taken the view that if I can make consistent gains of 10% than I'm doing pretty good. So, keeping this principal in mind, if I was to by 100 @ .45 + 10.00 commission in and 10 bucks out my total cost basis would be 65.00. or .65 cents. Now a 10% gain would be about .72 cents. I shouldn't I take my profit at this point?
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Registered User
Joined: 9/2/2009
Posts: 85
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QUOTE (sieandme) I'm kind've new at trading and I've taken the view that if I can make consistent gains of 10% than I'm doing pretty good. So, keeping this principal in mind, if I was to by 100 @ .45 + 10.00 commission in and 10 bucks out my total cost basis would be 65.00. or .65 cents. Now a 10% gain would be about .72 cents. I shouldn't I take my profit at this point?
Hey sieandme,
First of all Merry Christmas and Happy Holidays. Thanks for responding to my thread. Concerning your question, if 10% is your goal and strategy, by all means stick to it. In your particular case, unfortunately, your commission both ways is a huge portion of your initial investment because of the small amount being purchased. My goal is usually 25-60%, but it really depends on the stock and current market conditions.
Nyny was mentioned in this forum so at first I commented on it , then bought it at $1.35, after a 3-to-1 reverse split. I sold it at $1.86 three and a half business days later for a 37% profit. By pre-split price, I bought it 45 cents and sold it at 62 cents, because like I said it does have problems at 65-73 cents(or $1.95 to $2.19). This is its' initial target. Yes, it could go up to the 90's or $2.70+ by today's price, or its' intermediate or secondary target. But, if you can bag 37% in four days, I would take that and move on to the next stock.
You may want to get other opinions by more seasoned traders in this forum concerning trading techniques.
Again good luck in the New Year,
StarWoodIp...
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