S&P 500: 1,317.11 Change: -0.21%

rjm77me

P&P Score: 99.94 Points: 616.65 Accuracy: 77.28% Average Pick Score: 0.89 Annual Return: 32.85% (94.05% since 7/16/09)

rjm77me's Blog : To Buy or not to buy after 10 days of down market

August 9, 2011

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Market did put in a short term bottom today during a scary and wikd trading day.

The technical damage to the charts and emotions is done. Folks will be wary of hitting a buy buton for some time.

There will be few more up and wild down days before a retail trader can feel good about adding new investments.

Today was more of a relief rally and short covering in last hour. The trading volume has been enhance by computerized high freqirmcy trading. It does not mean that all those high tech guys are getiing rich. They do an edge on retail investor.

Big fish is also having bigger gains like June 30 Oshkosh Truck: Icahn reports a 9.51% stake in the co (28.94 +0.68) and stock popped up $5 plus to 34 and I wrote a blog fade the move. I had no clue that it will end at $18 - 6 weeks later. So there is the answer.

There is no sure trade - sure folks can play funney money and bet every thing in one way or other way. In real life it is like betting every thing you own and all your family and neighbours money and one fine day camping on the street.

So if your aim is to learn trading in any real way - start doing the same with funny money.

Make a laundry list of stocks and dip your toes one at a time and build some profit which one can afford to loose with out giving away your house to the bank or broker.

Market can see 200 to 300 points drop in next week or may see smaller movement

Tags : OIS TKR TDG CSX CNH PLL DE CAT PVH DAR ED EIX MCK WMT ING STD FXF IFF JOYG CNP TUP TNC VHI ABV CHD CCK BWD N GAS AZO KEX SOHU HANS EQIX ENB HPT NLC

6 Comment(s):

rjm77me

August 10, 2011 00:00 Edited: August 10, 2011 by rjm77me Abuse this post

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One way to make money is have buy orders with a lower limit of 5 to 7% and limit orders to stop loss or take profit - one cancels the other.
It may not make you rich and one will not end in poor house

rjm77me

August 10, 2011 20:03 Abuse this post

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I expected some pull back and not a 500 points pull back.
if you really liked some stock then you could have bought with lower priced limit orders.
It was France doing this time and market is sitting on pins and needles

Insiders ar buying at this time and it does not mean a thing.
Fundamentals have been thrown out of window. They will matter, once the sanity returns.
That is all I can say

JoeJustJoe Date

August 10, 2011 20:34 Abuse this post

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GOOG point about funnymentals. One day they will actually matter agin. Looka the REEEEEEEEEEE stocks fer instunce, MCP in purrtickler. Thatn went from $13 dollahs to $79 dollahs cuz "from a funnymental" standpoint...how kin we live witout REEEEEEEEE's??? Thaaas "correckt" ....we can't. China "knew" this but the U.S. didn...well, we did sevrul years ago...but it twasn't profitable to mine rare errrph metals so we shipped production off ta China...jist like we dunn did wit everythang else actually. The market "knew" tho....thaaas "obviously" why MCP traded to $79 dollahs whenst they doan even have an operational mine online yet. But wait till they do uh huh. Ifn MCP wuz werth $79 dollahs (from a funnymental POV) whenst they didn even produce nuphin...jist wait'll ya see wherst it trading whenst it begins mining operations in errrnest in 2012 uh huh. REEEEEEEEE's are gonna be GAHUUUUUGE!! You'll wake up in da moanin anna befo you even hit the shower fer yer foist trade you'll make sho you have enuff REEEEEEE's on hand to make it thru the day. You mark my werds...wait'll the funnymentals git started...never mind "come back" ...I can't wait til the "sanity" returns. Got REEEEE'S?!!! :o 3J

rjm77me

August 10, 2011 20:47 Edited: August 11, 2011 by rjm77me Abuse this post

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Some of the stocks have seen that selling pressure has sub sided and may show leader ship on reversal
EXAMPLE JOYG, CNP, TUP, TNC, VHI, ABV, CHD, CCK, MCK, BWlD, N, GAS, AZO, KEX, SOHU, HANS, EQIX, ENB, HPT, NLC

BOTTOM LINE IS IF ONE CAN NOT ACCEPT SHORT TERM PAIN - PLEASE STAY AWAY FROM INVESTING for few days and buying at higher or lower price will be emotionally a better bet.
Sure you can play with funny money. it does not hurt that much

rjm77me

August 11, 2011 15:28 Abuse this post

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Chart did say some thing right - off course the market is up big

rjm77me

August 11, 2011 20:03 Edited: August 11, 2011 by rjm77me Abuse this post

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so much for 3j spewage
MCP GOING UP AFTER HOURSMCP +7.2%,,. I DO NOT LIKE MCP EITHER.
Folks are in love with rare metals for now.

beats by $0.13, beats on revs (54.11 +2.56)
Reports Q2 (Jun) earnings of $0.52 per share, or $48.8 mln, including a $6.6 mln tax benefit, $0.13 better than the Capital IQ Consensus Estimate of $0.39; revenues rose 5142.1% year/year to $99.6 mln vs the $98.6 mln consensus. Co sees FY11 production of 4.94-5.88 metric tons of REO. Mountain Pass sold 829 metric tons of REO equivalent products, a 19% sequential increase and 212% year-over-year increase. Mountain Pass realized an average sales price of $72.80 per kilogram compared to an average sales price of $37.73 per kilogram in Q1 2011, and an average sales price of $7.16 per kilogram for Q2 2010. Silmet's sales in Q2 2011 included 217 metric tons of REO equivalent products at an average sales price of $69.27 per kilogram and also included 80 metric tons of rare metals (niobium and tantalum) at an average sales price of $167.50 per kilogram. MMA sold alloys containing ~53 metric tons REO equivalent products to contribute $10.3 million in revenue

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