http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/ Daily stock market picks and commentary from Josh Hayes Fri, 21 Nov 2008 03:52:29 +0000 http://wordpress.org/?v=2.6.3 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1113 Joshua Hayes Tue, 29 Apr 2008 20:37:30 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1113 I never average down. losers do that. I only buy stocks moving up. I do not focus that much on CLR. CLR is a BABY position. I have no interest in it and will be selling 50% tomorrow AM as the stock has FAILED to move up immediately. I NEVER average down. Study my past big winners to learn why. There are so many example of huge winners, I have no clue why I get so many questions like this. Please, everyone, listen............I NEVER AVERAGE DOWN!!! I PYRAMID UP!! http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1110 Joshua Hayes Tue, 29 Apr 2008 06:36:27 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1110 It is all good. You have a plan and that is good. but remember if you do not have a track record of making money already, you should NEVER be taking a long with over a 10% risk. For instance, tonight: IRW, GTLS, and GFA should be YOUR ONLY long candidates. ADEP and PMFG are OFF LIMITS. You are well on your way. You know what you did wrong and you also had a plan. That is all I can ask for...unless you are experienced...then we need to work on entries and exits better. :) Great luck! http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1109 Will Psillas Tue, 29 Apr 2008 04:33:00 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1109 hey Josh, I'm wondering if you have any fundamental insight related to CLR's involvement in the "Bakken" discovery which is a mystery in itself, but you keep your ear tuned to the street so.. for me, the chart is saying there may be something to this myth (also HAL NOG BEXP ERF etc). Also curious as to what sets CLR apart from its compadres in this field as I might pick BEXP since it seems to have more to gain (smaller company). Also, would you plan on averaging down at the 50? Don't think it's getting there for a while with that nice flag and VOLUME tho.. BTW nice call on the intermediate Ag top. http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1108 Rob Hoeting Mon, 28 Apr 2008 23:32:35 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1108 Its a small position and I'm pretty cash heavy to begin with. I put a stop in around 11.50 (right below the 50) and it didn't hit. But as you said, I should have been out before all this. I had a stop on FEED a couple weeks that also failed to hit before it exploded to the upside. I took some of it off when it got a bit extended. http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1107 Joshua Hayes Mon, 28 Apr 2008 22:16:25 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1107 I took a 15% long on the position. DGLY, BKE, DAR, HA, ADEP, IRW, KOP, GENC, and GNET all look better and would have made better longs than GU. GU stinks but it was a smaller position. Remember, that day, BOP fell from max green after being max green the entire November. That was not a good sign to see max green lost on the b/o. The next day the stock failed to move higher immediately. That should have had you out at least 20-25% of it. Then the breakdown. With my sell this AM, I took a 15% final loss. I hope this helps. Cut your loss...move on to better stocks like GFA which is bouncing RIGHT off the 50 DMA and has an EPS rating of 93. GU was showing NO EPS growth and actually had NEGATIVE EPS numbers the most recent quarter. Hopefully, GU was as small a long for you as it was for me. http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1105 Joshua Hayes Mon, 28 Apr 2008 19:41:39 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1105 Rob, GU failed!!!!!!!!!!!!!!!!!!!!!!!!!!! IT BROKE DOWN ON HEAVY VOLUME!!!! I am out of 100% of my GU long. http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1104 MarketSpeculator Mon, 28 Apr 2008 15:10:13 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1104 Probably is but we need an entry, it failed once. It will need to show signs of strength. http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1103 Rob Hoeting Mon, 28 Apr 2008 14:52:47 +0000 http://www.bigwavetrading.com/2008/04/26/two-canslim-long-positions-and-two-speculative-long-positions-for-mondays-stock-market-session/#comment-1103 GU is holding the 50DMA.... is that line magical or what?