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Registered User
Joined: 12/8/2004
Posts: 11
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Check out FDO on a weekly basis. Large head and shoulders top? Good Short?
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Registered User
Joined: 10/7/2004
Posts: 2,126
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If you are asking people whether you should short or not - you shouldn't be trading at all. What are you going to do when the trade go against you? Are you going to ask others too if and when you should get out? Time can be real costly in those situations and the wrong advice too.
I have said so many times - "YOU ARE THE MARKET". Until you understand and find that within yourself you will be loosing money.
What makes you think that others know more than you do? Only one thing could make you think that and that is that you have a poor perception of yourself. You need to change that to succeed in trading.
good luck.
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Registered User
Joined: 12/8/2004
Posts: 11
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"Your are the market?" What kind of a response is that? Sounds like you've watched Caddyshack too many times..."be the ball." I know what I'm doing, given that I am up over 40% this year. However, I also know that I am not the market and there are other people that look at stocks differently than I do. I don't take their advice blindly, but instead look at what they are saying and critically examine it. Many times, someone on this board has good insights - they see a pattern or an indicator that I didn't. Since they are part of the market, it is useful information.
Thus, my question stands. I see a large H&S top. Does anyone see something else here that would indicate this stock is going higher rather than lower?
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Registered User
Joined: 12/2/2004
Posts: 1,775
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I looked at the 5 year weekly chart and see what I would call a HS pattern. The right shoulder shows more volume with red bars, so maybe it will break its 5 year support (current price range) and drop to teens. I tend to shy away from shorting a stock such as this one that has already fallen heavily, but the fact that this latest drop on volume has come from a three month basing pattern, maybe it's a good short. good luck.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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First of all it doesn't have to do anything with the way you look at stocks, or the way other people do. It has to do with your reactions from the initial entering of a trade and your exit. AND THEN THERE FOR THAT PERIOD YOU ARE THE MARKET. Your outcome in any situation will not have anything to do with the market reactions, but your own reactions. I have profited long in down markets as well as short in long markets. It all depended of my own reactions during the time I hold that trade.
Second, what time period are you taking about for your question concerning FDO. Are you a daytrader, a long time investor, or a trade swinger. What is your trading style - big blocks, small blocks, scalper, swinger, or longer frame.
The only head and shoulder I see here is on a 5 yr frame. For the inmediate reaction of this stock that tells you nothing. If you are looking at holding the stock for the next 10 yrs may be.
Now look at volume. What happen after every climatic sell?
That should give you a better clue about what is about to happen here for the short term.
I am glad that you are 40% this yr, and that you know what you are doing. May be in the future I can get some real advice from you. I ask myself sometimes if I know what I am doing, even when it seems to work. But only one thing I know for sure - I do not take stocks tips from anyone, make your own decisions and live with them. I have been in the markets for over 11 yrs, not all profitable of course, on my own, by my rules, and by my choices. I rarely accept advice on any stock, I consider that is all.
Good luck Dale.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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>>I ask myself sometimes if I know what I am doing<<
I hear ya BigB! I don't ask myself that same question sometimes, I ask it all the time, lol. I felt like a genius yesterday going long DPH. At least I didn't panic early and sell pre-market, so I can say I saved at least a bit of face:)
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Registered User
Joined: 4/7/2005
Posts: 9
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I think it looks like a real good short. Just watch your entrance point. The RLX (Retail Index) has turned over and it looks retail will be weak. Any short-term rally will set up for shorting. TGT has been especially weak the last week.
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