Submit questions below in the comment section
If you are new and haven’t already done so check out the new members page before seminar!
Launch Chat
Seminar Sunday Night – April 3rd
by InvestorsLive | Apr 1, 2011
603-635-4914
Submit questions below in the comment section
If you are new and haven’t already done so check out the new members page before seminar!
FASV, besides the price action, why did you stay away from it? My guess is, after I got burned on it, because it got “pumped” but mailers haven’t hit (it wasn’t making that nice inching mode, like LEXG, UTOG, ALZM in it’s early days) if they’ll hit at all?
Man, what a confusing sentence. I didn’t mean, you stayed away because I got burned. I meant, my guesses of why you stayed away, that I was thinking, after I got burnt.
CTSO, I pick it at 0.45 after the minor gap at 9:30am today. You waited and picked it up at 0.0359 made your profits and got out. Three questions:
1. How did you know the gap will take much longer? I was trying to get it before it goes higher.
2. Are you using any special software tools or Studies to detect such cases?
3. Which additional studies would you recommend? I’m using all the common ones (stochastic slow, Williams%, ON Balance Vol, SMA 5, 10 days, MCAD and lately added Itchimoko)
You didn’t buy it at .45 did you? why?
I said on scan GAP and CRAP and potential short… why would you chase a gap and run?
I’m unsure you know what gap means, a gap is a gap up ie: open price today higher than yesterdays close price
yes, this was stupid chasing a gap. I was in panic as missed a buy on another stock (set limit too low) so jumped on CTSO at the wrong time as it was already up 15% in the first market open seconds and did not review your notes carefully. My total mistake! Thanks.
Ethan, read up on IL’s new member powerpoint/chat logs, he actually doesn’t use any of that fancy schmancy stuff. The thing you gotta remember with CTSO today, was it ran like wild yesterday even gapping (gaps typically fill). So this morning a lot of the chasers panic when they don’t want to lose (or are losing) their money. That panic causes an oversell, which is where IL bought and profited from the bounce. CTSO took a while to bounce, and I didn’t really think it was a strong one even, so you have to be crazy careful when a stock has ran huge. Think about all the people who bought and what they’re most likely thinking (“I don’t wanna lose my money, or the money I made”) and it should give you a better picture on what to do. good luck.. I’m just waiting for something to print at work =)
Thanks for your feedback Jout. I did very well 2 weeks ago with UNDT and was happy, it was very fast! However, since then I’ve been losing but I see my mistakes here, chasing is a BAD thing. That’s the same mistake I made with WRIT and lost. I reviewed the powerpoint and logs and I go over them a second time in case I missed something. The CTSO bounce yesterday was not making it far for me to break even. I appreciate your points and it’s very useful to stay on the safe side next week!
We’ve all been there, and unfortunately get flashbacks now and again which is good for us. I know you were thinking the stock was up 15% that day, and emotionally didn’t want to miss the “big run”, but in reality should be thinking, “holy crap it’s up 250% in one day and a 5 minute morning, I already missed the big run and I ain’t touching this thing until she deflates a bit, and even then maybe not…” Try understanding the big picture (catalysts that are driving the stock) first, get those things automatic, and then chew your way into the details, like price movement, L2, swirling fibinachi retracments, bongoliar bands, 53 degree mac daddy hyper averages. If IL’s setups aren’t helping, then take a step back further, and keep steping back if you have to, even if it’s all the way to the question of “What is a stock?”, on investopedia. My friends will ask me what stock they should buy or how they can get started, and tell them, “Take $500, don’t worry about commissions, nothing, and just trade it knowing you’re going to lose it all.”, because the best way to learn to make money is by losing it. Please don’t do what I did with YRCW and go All In and lose 30% of your account in one morning, although in retrospect it may have been the best decision I’ve made because I learned from it. Tough love is the only thing that works in this business, so suck it up beyotch, and do better!!
Question about account building. I’m under PDT by the way.
I’ve had some pretty good success these past these past couple of weeks, but it concerns me a little when I hear that I should be really “account building” at this time.
The way I looked at this last week, there was really no reason for me to exit my JAMN position earlier than Thursday (I sold it late day Thu., this is just an example), as it was really up all week. I know you’ve been saying to buy the dips late, and sell the spike in the AM, but that will still chew up my buying power for the whole day that I sell on.
So the question is, should I keep my JAMN position, or really any position that isn’t losing money, but not gaining more than 5% per day. Or should I be looking for the HR that we’ve been nailing in chat just about every day.
Thanks
Question about account building. I’m under PDT by the way.
I’ve had some pretty good success these past these past couple of weeks, but it concerns me a little when I hear that I should be really “account building” at this time.
The way I looked at this last week, there was really no reason for me to exit my JAMN position earlier than Thursday (I sold it late day Thu., this is just an example), as it was really up all week. I know you’ve been saying to buy the dips late, and sell the spike in the AM, but that will still chew up my buying power for the whole day that I sell on.
So the question is, should I keep my JAMN position, or really any position that isn’t losing money, but not gaining more than 5% per day. Or should I be looking for the HR that we’ve been nailing in chat just about every day.
Thanks
Using LOCM from late Friday as an example, when someone alerts a stock that just popped, is it a better strategy to go long and sell into the following pop? Or is it better to try and short it? It seems like most of the pops don’t sustain. Would this be an incorrect assumption?
IL you frequently post “XYZ, XYZ, XYZ, XYZ on scan currently” during the day…does this mean you’ve been alerted to these certain stocks from your scan system because of volume etc………or are you checking them out intraday for possible plays?
Is there a broker that you recommend for shorting OTC stocks? I’m with E-Trade and I’m not able to take short positions on this type of security. Thanks!
What services do you recommend for subscribing to an advanced news feed? (meaning getting the news before it hits the newswires – i.e. yahoo finance, cnbc, bloomberg, broker news feeds, etc). Understand if that’s proprietary information and you don’t want to share.