My trade filled. I was less stringent this time, despite the large spread. The consequence is that my trade appears to be losing value right off the bat. I hope that this will change quickly. I also place a contingency exit order at $24.03.
FDX and PALM doing well today. Here is the account summary:
RHAT continues to elude me. I reentered my order at 3.8 today, so far no fill.
9 comments:
Juan,
Just to update you, I saw RHAT on your order configuration today on IB at $3.80, so you should have got it at that price.
I also traded PETM, same configuration as you, but at $2.05 instead of a $2.30 debit.
Also entered FDX today just befor the late fall back. You win some, you lose some. **Smiles**
All my orders are day orders, so I could change them from day to day. Regardless, my RHAT order filled. Now I have 6 standing trades, 4 of them bullish.
Juan,
I am not experience enough to tell between a good or a bad catalyst. Here is what I found today.
AHG tumbled about 15% today due to poor revenue growth bringing the full year's growth down.
Here is a link to the news:-
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7BF898BC42%2D5F0C%2D436E%2DB07C%2D5E09C925EF00%7D
What do you think ?
Hi HK, thanks for your contribution, please DO keep them coming.
What is a good catalyst is the most subjective aspect of my system. You know when a superb catalyst shows up. There is simply no doubt about them. What you read about AHG is a good catalyst. The issue becomes ¿How much has already the stock tumbled? ¿Is there any room for my trade to make money? The only way to learn, I think, is to make notes of why you entered the trade, including the TA items that induced you to do the trade.
The truth is I don't know of any system that will procuce winners only. This is why is so important to place those contingency orders. Also, be disciplined. If the stock looks over extended (for example, if it is way down in the stochastics oscillator), avoid the trade until you see a bounce according to the Fibonacci rules we have been discussing.
Put your AHG trade in a watch list, and take a look at RRGB, for example.
BTW, I was exited from my PALM trade today. I want to place a trade on RRGB. I will use the money freed from PALM to enter RRGB, if I find a good spot to do so. I will keep you posted.
This morning, my internet connection was down. I am back up again.
Juan,
RE: "This morning, my internet connection was down. I am back up again."
I too have had system problems, due to changing my Virus Scanner, plus a Firewall, which was so complicated, I had to unstall it and return to Zona Alarm, which then knocked out the Internet Explorer....
I too, was hoping to find some 'hopefulls' this weekend. Will post again on Sunday.
What about RIMM on Friday? On a two minute ticker which I had on IB it went down nearly $10. Then the Stock had to suspend trading for a few hours. Still down on the day by about $2 I believe.
WCN
Just a few headlines about this company. There is not a strong catalyst, but high fuel costs, financing buy outs, previous accounting problems and an earnings call. Need to know more;
Analyst: Fuel cost to cut profits for waste haulers
http://biz.yahoo.com/bizj/050916/1165671.html?.v=2
Waste Connections Earnings Conference Call (Q3 2005)
Scheduled to start Wed, Oct 26, 2005, 8:30 am Eastern
http://biz.yahoo.com/cc/8/60528.html
Waste Connections buys more companies
Wednesday September 7, 7:05 pm ET
Waste Connections Inc., an 8-year-old Folsom company, keeps growing.
The corporation continued its strategy of picking up companies off the beaten track of the biggest metro areas, recently making acquisitions in Idaho and Wyoming and in southern Washington.
http://biz.yahoo.com/bizj/050907/1160231.html?.v=3
Miller, who already had been a director at Waste Management, served as chairman and interim CEO of the company in 1999. He was credited then with stabilizing the environmental services giant, which under earlier leadership had suffered widespread accounting and information systems woes.
http://houston.bizjournals.com/houston/stories/2005/08/22/daily5.html?from_yf=1
Juan,
To be honest with you. RRGB I would be wondering which way that is going to go. Perhaps you could explain your thinking on that please.
AGP has gone down in one move a full 61.8% retracement value from the high on the 7th July 2005, to the low on the 21st July 2005. The fibonacci lines on this graph are 'uncanny' to say the very least.
Where now for AGP? Could we see a retracement and then another massive drop again?
Just some thoughts.
RRGB
I am waiting for the RET forecast to be met. You can take a look at RRGB here in Stockcharts and see the oscillators neat their tops. RRGB shoud fail to exceed the resistance above. Note the 50dMA and the 200dMA as the ceiling for this stock.
http://stockcharts.com/def/servlet/SC.web?c=rrgb,uu[w,a]daclyyay[db][pb50!b200!f][vc60][iUa12,26,9!Lp14,3,3]&pref=G
AGP
It looks like it is at the end of an impulse wave 3, with a 5th wave still to come. I would wait for wave 4 to be completed. Right now it is certainly overextended on the downside. I believe we lost our opportunity (if we ever had one).
http://stockcharts.com/def/servlet/SC.web?c=AGP,uu[w,a]waclyyay[df][pb10!b40!f][vc60][iUl14!Lp14,3,3]&pref=G
RIMM
This looks like a good opportunity with 2 catalyst (litigation plus reduced earnigns outlook). The reason I have not mentioned is because I already have a position on it in a separate account.
About WCN you said
"Just a few headlines about this company. There is not a strong catalyst,"
I want to focus on companies with strong catalysts because I want strong moves in either directions. Patience and discipline, we can keep our dry powder for explosive opportunities.
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