XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #241
- Aug 14, 2012 12:56pm Aug 14, 2012 12:56pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
- #245
- Aug 16, 2012 9:26pm Aug 16, 2012 9:26pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
Hi Split, I want to share with you 3 of my swing trades. I have selected them with your stock picking criteria, and I have good results!!!
Thank you for your excelent thread!!!
Sorry for the late response was busy. As for your trades, I will go by them one by one below:
INVN: Awesome stock, I would have traded the same technical setup. I don't know the company fundamentally but looking at the numbers on finviz, I have to admit that it looks really good! Very impressive fundies driving this stock! I would have traded it had I caught it earlier.
PRU: As for PRU, I like the base and the breakout above $49.00. As for the fundies, PRU is a no brainer, strong fundies. Its an insurance company selling life products which is one of the best forms of insurance. The company is milking its business with solid earnings with EPS (earnings per share) growth of 204% quarter over quarter which is impressive.
URI: Looking at the chart, I dont see a proper base in URI, I expect it to head lower and form a higher low before a base is complete. The NYSE & NASDAQ have over +6000 stocks, I don't bother to trade charts that don't look perfect. Theres always something to trade if you know how to scan properly. URI isn't a bad trade, it could head higher, its just that it isn't ready yet. And as for the fundies, nothing earth shattering here. The company has very high debt, with its debt being 5 times its equity, but thats to be expected from companies in the rental and leasing industry. They usually need alot of debt to get things going.
ASNA: Technically, just like URI this stock looks like it needs abit more time before its direction becomes clear. The base isn't complete yet, a breakout from an incomplete base will only end up in failure. I am have my S/R levels in ASNA at 17.50 (support) and 19.75 (resistance) any other level in between is plain choppiness. Neither the buyers or sellers are showing conviction in this stock, and unless you have firm conviction in its fundamentals and where its headed, I suggest you keep away. Technical picture is too cloudy, the company is also reporting earnings on Sep 10th which isn't too far away, and anything can happen when earnings are announced, earning announcements can also be found on finviz.com
In summary, I REALLY liked your first two stock, pretty excellent picks, I would have traded them. As for your other two, I feel like they both need more time to develop, they are not +A setups, they are -B setups at best.
I hope this helps,
Split
GREAT EXPLANATION and teaching, this is what makes me want to trade stocks as well.
Thanks SPLIT! You are doing a great job here in this thread don't stop.
XT
PSX update, the stock continues to rip. It belw right past that pennant and is continueing to ascend!
- #251
- Aug 17, 2012 11:12am Aug 17, 2012 11:12am
Hi Split, thanks you for your comments!!! I still have a lot to learn, specially on the fundamental analysis.
Please, can you explain what do you mean with "I expect it to head lower and form a higher low before a base is complete"? Do you refer to a figure's base, a retracement level, a MA setup...
I'm learning a lot from your thread!!!
Thanks.
[quote=split_unit;5937269]Hi gregofx!
URI: Looking at the chart, I dont see a proper base in URI, I expect it to head lower and form a higher low before a base is complete. The NYSE & NASDAQ have over +6000 stocks, I don't bother to trade charts that don't look perfect. Theres always something to trade if you know how to scan properly. URI isn't a bad trade, it could head higher, its just that it isn't ready yet. And as for the fundies, nothing earth shattering here. The company has very high debt, with its debt being 5 times its equity, but thats to be expected from companies in the rental and leasing industry. They usually need alot of debt to get things going.
Please, can you explain what do you mean with "I expect it to head lower and form a higher low before a base is complete"? Do you refer to a figure's base, a retracement level, a MA setup...
I'm learning a lot from your thread!!!
Thanks.
[quote=split_unit;5937269]Hi gregofx!
URI: Looking at the chart, I dont see a proper base in URI, I expect it to head lower and form a higher low before a base is complete. The NYSE & NASDAQ have over +6000 stocks, I don't bother to trade charts that don't look perfect. Theres always something to trade if you know how to scan properly. URI isn't a bad trade, it could head higher, its just that it isn't ready yet. And as for the fundies, nothing earth shattering here. The company has very high debt, with its debt being 5 times its equity, but thats to be expected from companies in the rental and leasing industry. They usually need alot of debt to get things going.
[quote=gregofx;5937943]Hi Split, thanks you for your comments!!! I still have a lot to learn, specially on the fundamental analysis.
Please, can you explain what do you mean with "I expect it to head lower and form a higher low before a base is complete"? Do you refer to a figure's base, a retracement level, a MA setup...
I'm learning a lot from your thread!!!
Thanks.
Hi gregofx,
I prepared you an explanation of this post in the screen shot below, if you understand what I wrote you would understand why I liked INVN & PRU
Please, can you explain what do you mean with "I expect it to head lower and form a higher low before a base is complete"? Do you refer to a figure's base, a retracement level, a MA setup...
I'm learning a lot from your thread!!!
Thanks.
Hi gregofx!
URI: Looking at the chart, I dont see a proper base in URI, I expect it to head lower and form a higher low before a base is complete. The NYSE...
I prepared you an explanation of this post in the screen shot below, if you understand what I wrote you would understand why I liked INVN & PRU
Thanks Split for your explanation, it's clear for me now.
ATR's assess the volatility of a financal instrument, a higher ATR indicates that a stock can be more volatile than a lower ATR stock. stocks over $100 are very volatile, you can make a lot of money trading them and you can also lose alot of money which makes it hard to manage risk unless you have a very big account where you don't mind the ATR.
For example, Google is a $677 stock. In order to buy 100 shares of google which is the bare minimum you need $67700. Google's 10 day ATR is 9.17, that means that on a normal day if you bought 100 shares...
