Posted by frtaylor on 17th of Oct 2010 at 01:18 pm
Steve, Matt, anyone else, if you would comment on IDT and
Friday's action - dropping 11.5% on heavy volume -, I am all ears.
It went down after the earnings release, which I don't believe was
that bad, probably simply below expectations/estimates. Given that
Friday's candlestick was solid - no wicks, notably none on the down
side - I am expecting it to go down further. There appears to be
support at 15.50, but I'm not a good judge of how strong it is. I
had bought late in the afternoon at 16.64, figuring it'd stabilize
and not close at the low of the day, but I was wrong. Anyway,
trying to decide whether to get out first thing tomorrow and
reassess or whether to ride what I believe is a very likely further
downside.
Yes holding into earnings is always a crap shoot and with the
market where it is, I think it's best to take profits quickly and
keep stops tight. That's an ugly candle, I personally would
have been out of it
IDT - am I into a losing trade?
Posted by frtaylor on 17th of Oct 2010 at 01:18 pm
Steve, Matt, anyone else, if you would comment on IDT and Friday's action - dropping 11.5% on heavy volume -, I am all ears. It went down after the earnings release, which I don't believe was that bad, probably simply below expectations/estimates. Given that Friday's candlestick was solid - no wicks, notably none on the down side - I am expecting it to go down further. There appears to be support at 15.50, but I'm not a good judge of how strong it is. I had bought late in the afternoon at 16.64, figuring it'd stabilize and not close at the low of the day, but I was wrong. Anyway, trying to decide whether to get out first thing tomorrow and reassess or whether to ride what I believe is a very likely further downside.
Yes holding into earnings is
Posted by matt on 18th of Oct 2010 at 02:30 am
Yes holding into earnings is always a crap shoot and with the market where it is, I think it's best to take profits quickly and keep stops tight. That's an ugly candle, I personally would have been out of it
sell it. cut your loss.
Posted by darnelds on 18th of Oct 2010 at 12:51 am
sell it. cut your loss.