Posted by frtaylor on 29th of Oct 2010 at 02:37 pm
Steve, Matt or anyone:
Given that the cup and handle for IVAN took months to build, how
long can one typically expect to hold the breakout profitably?
I would think this trade is not a "hold a couple days and then sell
it" type of pattern. Any information about this would be most
appreciated!
Could well be the case based upon the pattern BUT it's a small
speculative stock so you must weigh that into the equation.
Personally, I always sell some on the initial move and keep
the rest with a trailing stop in place.
Posted by frtaylor on 29th of Oct 2010 at 02:44 pm
sounds like a good way to play it. Is there no information
out there about how long or how far it will go based on
that pattern? Time for a little web-based research....
Well whether right or wrong I sometimes tell people if your
asking then you might have already made up your mind you want to
sell.
The chart does outline the $2.80 area as some next potential
resistance and then I believe the actual Cup & Handle pattern
can then count into the $3's (maybe $3.40ish).
Echoing Steve's wisdom you will not get hurt taking a piece off
now and then see if keeping a runner can continue to catch
gains. I would also note the company will have earnings on
November 9th (I don't know when) so adding that information to the
chart can start to provide a price target and time window to
reference.
Lastly, I have personally trimmed exposure to other names today
and have offer out for the rest. I am not sure what next week
will bring but the assumption is for volatility and I think I
personally will enjoy less risk of movements and more gun powder to
take advantage of situations.
Posted by frtaylor on 29th of Oct 2010 at 03:23 pm
Lots of good advice and information, thank you. I did actually
take yours/Steve's advice and peeled off half w/ a stop at 2.49 for
the remainder.
sounds like for next week you want to avoid losses and be ready
for a move in either direction w/ cash at the ready. Me, I am
playing a few positions but have a fair amount in GDX trade. I'm
also playing the election trade, w/ odds in favor of a short term
move ending Friday next. I'm looking to the GDX system (and S&P
system when it comes out) to work quite a bit better than my fairly
green efforts on my own.
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IVAN - hold time?
Posted by frtaylor on 29th of Oct 2010 at 02:37 pm
Steve, Matt or anyone:
Given that the cup and handle for IVAN took months to build, how long can one typically expect to hold the breakout profitably? I would think this trade is not a "hold a couple days and then sell it" type of pattern. Any information about this would be most appreciated!
Could well be the case
Posted by steve on 29th of Oct 2010 at 02:41 pm
Could well be the case based upon the pattern BUT it's a small speculative stock so you must weigh that into the equation. Personally, I always sell some on the initial move and keep the rest with a trailing stop in place.
sounds like a good way
Posted by frtaylor on 29th of Oct 2010 at 02:44 pm
sounds like a good way to play it. Is there no information out there about how long or how far it will go based on that pattern? Time for a little web-based research....
Well whether right or wrong
Posted by tom on 29th of Oct 2010 at 02:49 pm
Well whether right or wrong I sometimes tell people if your asking then you might have already made up your mind you want to sell.
The chart does outline the $2.80 area as some next potential resistance and then I believe the actual Cup & Handle pattern can then count into the $3's (maybe $3.40ish).
Echoing Steve's wisdom you will not get hurt taking a piece off now and then see if keeping a runner can continue to catch gains. I would also note the company will have earnings on November 9th (I don't know when) so adding that information to the chart can start to provide a price target and time window to reference.
Lastly, I have personally trimmed exposure to other names today and have offer out for the rest. I am not sure what next week will bring but the assumption is for volatility and I think I personally will enjoy less risk of movements and more gun powder to take advantage of situations.
Lots of good advice and
Posted by frtaylor on 29th of Oct 2010 at 03:23 pm
Lots of good advice and information, thank you. I did actually take yours/Steve's advice and peeled off half w/ a stop at 2.49 for the remainder.
sounds like for next week you want to avoid losses and be ready for a move in either direction w/ cash at the ready. Me, I am playing a few positions but have a fair amount in GDX trade. I'm also playing the election trade, w/ odds in favor of a short term move ending Friday next. I'm looking to the GDX system (and S&P system when it comes out) to work quite a bit better than my fairly green efforts on my own.