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Fed Announces Rates!! Massive market Surge!! I Am Right
- Thread starter stock_trad3r
- Start date
Quote from stock_trad3r:
Ok weekend over time 4 an update
Market up MASSIVE today ..up almost 1.4% for nasdaq
Another reason why you shoun't be short
As long as the market is in a downtrend shorting is the place to be. As I said before, 1 day does not a trend make.
I am only short 4 stocks. Tie happens to be one of them. Todays market action does nothing to convince me any of my shorts have changed trend.
Quote from stock_trad3r:
I keep reminding myself of this chart for TIE:
http://finance.yahoo.com/q/bc?s=TIE&t=1y&l=off&z=m&q=l&c=
Looks like a long cup and handle in the making. Could take a year to come back but it will eventually.
A cup with a handle pattern does NOT HAVE A HANDLE THAT LONG. Not to mention there is no cup. Re-read your book.
Yea that is obvious the trend is down, but when you invest in quality companies that make cash such as TIE they rebound. Seen it happen with NTES and many others.
The deal is, I already have some $$ in TIE i bought at 35 and im holding it.
if it were an obscure company that was losing heaps of money then the stock will correct back to its orriginal level. or if it is very over-valued.
The deal is, I already have some $$ in TIE i bought at 35 and im holding it.
if it were an obscure company that was losing heaps of money then the stock will correct back to its orriginal level. or if it is very over-valued.
PS-i said the cup was in the making...I isn't complete yet I know
Read this article on cup and handles. It can take 12 months. And he says that is works for financial sound companies such as TIE for exmaple.
http://www.marketmavens.com/marketm...ancedOptionsConcepts-1011824144&usedate=false
Read this article on cup and handles. It can take 12 months. And he says that is works for financial sound companies such as TIE for exmaple.
http://www.marketmavens.com/marketm...ancedOptionsConcepts-1011824144&usedate=false
Quote from stock_trad3r:
Yea that is obvious the trend is down, but when you invest in quality companies that make cash such as TIE they rebound. Seen it happen with NTES and many others.
The deal is, I already have some $$ in TIE i bought at 35 and im holding it.
if it were an obscure company that was losing heaps of money then the stock will correct back to its orriginal level. or if it is very over-valued.
trying to use both TA and FA can be contradictory. Try to stick to one, you'll be better off that way
Quote from stock_trad3r:
Yea that is obvious the trend is down, but when you invest in quality companies that make cash such as TIE they rebound. Seen it happen with NTES and many others.
The deal is, I already have some $$ in TIE i bought at 35 and im holding it.
if it were an obscure company that was losing heaps of money then the stock will correct back to its orriginal level. or if it is very over-valued.
The question is
When it goes down to 19.00 are you still going to hold it?
When it goes down to 17.00 are you still going to hold it?
If the answer is yes, then why not just sell it now on the up tick and buy it back when it hits that area. Wait for the trend to be over, don't ride it down. There is no indication whatsoever the downtrend for this stock is over.
If the answer to my questions above is no, then why are you in this stock right now?
I just hate to see people making mistakes and not learning from them. This is a mistake. Sell and learn from it.
Quote from sportmatt37:
trying to use both TA and FA can be contradictory. Try to stick to one, you'll be better off that way
1. I disagree 100% with this...i say they are each useless if not used together, keep in mind FA also includes funadmental economic data like interest rates and such. increase the cost of borrowing, and iti s more difficult for the company to make money. you often see the results of FA before they hit in the TA...but hey, we can disagree. I personally see fundamental, economic and technical deterioration in this across the board. but i will agree that in this case...technicals DO tell the best story.
2.stocktrader.. No cup, no handle...you are dreaming once again. it is a reversal with lower highs and lower lows. it is not in a downtrend and history says it will stay that way for a while. "the trend is your friend until it ends"........you trend ended.
Quote from stock_trad3r:
Yea that is obvious the trend is down, but when you invest in quality companies that make cash such as TIE they rebound. Seen it happen with NTES and many others.
The deal is, I already have some $$ in TIE i bought at 35 and im holding it.
if it were an obscure company that was losing heaps of money then the stock will correct back to its orriginal level. or if it is very over-valued.
the problem with that comment is that TIE won't be making cash for very long - it's a cyclical.