StockFetcher Forums · Filter Exchange · BOLLINGER BAND TRADING STRATEGY<< 1 ... 10 11 12 13 14 ... 39 >>Post Follow-up
gabestogie
79 posts
msg #79522
Ignore gabestogie
9/17/2009 5:42:49 PM

Kevin:
Based on the last 1/2 hour of the chart, what did you conclude about that type of action? I got stopped out of a few other stocks I was holding today. BGS seems to be holding so far.
Gabe

Kevin_in_GA
4,553 posts
msg #79526
Ignore Kevin_in_GA
9/17/2009 6:33:28 PM

Beats me. I thought I was being clever (and it still is an excellent entry price, perhaps just not the best I could have gotten).

We'll see tomorrow.

And remember, I backtested this system without any stop losses. When I added them in, which seems to be good money management, the performance was worse.

My current approach is to make small bets (~$1000 per stock), with no stop loss in place. I am willing to lose this amount, but the odds of any of these stocks going to zero is impossible so I am not too worried about it.

kmcninvest
43 posts
msg #79534
Ignore kmcninvest
9/17/2009 8:17:13 PM

I bought 3 lots of STEC 32.07/ 31.50 / 31.20. I think this is much like AMED where panic set in (over competition that does not have a product on the market yet). I feel very sure this will be back at 36 shortly. Heck, even Cramer on Mad Money was saying "Buy Buy Buy" to STEC.

kmcninvest
43 posts
msg #79535
Ignore kmcninvest
9/17/2009 8:19:36 PM

For what it is worth:

http://www.thestreet.com/_yahoo/story/10600008/1/mad-money-lightning-round-get-into-baker-hughes.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

stratiG
147 posts
msg #79539
Ignore stratiG
9/17/2009 8:51:17 PM

Sorry, i couldn't post the trade as I made it>

In Oct 34 calls @ 1.95 near the close. AH STEC up to 32.00.

stratiG

Kevin_in_GA
4,553 posts
msg #79541
Ignore Kevin_in_GA
9/17/2009 9:26:01 PM

Cramer pumping STEC and BGS - hope that is a good thing ...

I like the comparison to AMED, given that this one exploded and tripped the 20% profit stop I had in place!

kmcninvest
43 posts
msg #79544
Ignore kmcninvest
9/17/2009 9:50:08 PM

I am not a fan of Cramer but a stopped clock can be right 2x a day. This stock had a large short move on (about 33%). They will have to start covering.

kmcninvest
43 posts
msg #79545
Ignore kmcninvest
9/17/2009 9:57:40 PM

I am sure you know that this is the #2 stock in the IBD 100 with a rating of 99? Your filter caught this for me...great job!

gabestogie
79 posts
msg #79548
Ignore gabestogie
9/17/2009 10:32:01 PM

Kevin:
I do beleive that all these posts have what was suspect from the start of the sell-off. Let's checkout what positions may have been closed out. Perhaps there was an overload of Calls beyond 39.00. I've been following STEC for a few months now and it has been a top gun. Started running back in Feb. so I'm sure that anyone into Options would be on it and probably was overloaded making money until they got caught with their pants down. Panic set in and it overflowed,now it'll be a new game because it has a target posted @ 39.
I agree the IBD stocks are top of the heap and even after a panic selloff like this one the stock will rebound provided the reason is not that the stock is another ENRON or TYCO who destroyed millions of investors, we don't know about these things until the s___ hits the fan and then it's too late to get out. This is why I use Trailing stops so I capture the winnings as they move up. I'll often get stopped out but go right back in again on the same stock next day or 2. I normally will go back 60 days and check the highs and lows of the day and this will be a fairly safe way to calculate what my stop will be.
I beleive this baby will run again and I want my money back so I will be back into it.
Trade safe,
Gabe

gabestogie
79 posts
msg #79574
Ignore gabestogie
9/18/2009 9:25:46 AM

I'm in on BGS @ 8.05
Gabe

StockFetcher Forums · Filter Exchange · BOLLINGER BAND TRADING STRATEGY<< 1 ... 10 11 12 13 14 ... 39 >>Post Follow-up

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