Posted by frtaylor on 22nd of Dec 2010 at 01:11 pm
Steve or anyone, I'm in MON from posts here last week from
desertrat and oldtrader (thanks!). I am having trouble seeing where
the targets might be on this. Can you help? Thanks.
I'm no expert, but I would sell certainly sell 1/2 now, since it
represents a support resistance area in April.
Since the mkt is overstretched, and if MON doesn't show
strength tomorrow, I'd be inclined to sell it all tomorrow, not
wanting it to go down more. Or do a trailing stop on the rest
with a 10, 9, or 8 period moving average.
Posted by frtaylor on 22nd of Dec 2010 at 02:28 pm
Okay, sold 1/2 and moved stop to 66 for the rest. Thanks
everyone, I'll try not to "clog the blog" so much. I just wish I
could learn to trade like rank, or ditch, or.... Maybe read
some books? I read Trading in the Zone.
frtaylor - when the market is melting up on light volume I think
you need to focus on your objectives versus looking for targets.
In other words, trade it in accordance with your goals while
implementing risk controls instead of relying upon 3rd party
targets.
What I mean is that you need to have a plan when trading.
The plan should be constructed based upon your personal
objectives and risk tolerance. Finally, you should then trade
in accordance of that plan.
Posted by frtaylor on 22nd of Dec 2010 at 02:06 pm
well, I don't call that going wrong, just being prudent. I do
have a stop in so that I will keep half of what I'm up so far.
That's a strategy of sorts, I guess.
MON - pls help w/ targets
Posted by frtaylor on 22nd of Dec 2010 at 01:11 pm
Steve or anyone, I'm in MON from posts here last week from desertrat and oldtrader (thanks!). I am having trouble seeing where the targets might be on this. Can you help? Thanks.
MON
Posted by winter39 on 22nd of Dec 2010 at 03:13 pm
I'm no expert, but I would sell certainly sell 1/2 now, since it represents a support resistance area in April.
Since the mkt is overstretched, and if MON doesn't show strength tomorrow, I'd be inclined to sell it all tomorrow, not wanting it to go down more. Or do a trailing stop on the rest with a 10, 9, or 8 period moving average.
So that's what I'd do.
Thanks, winter39, I hadn't noticed
Posted by frtaylor on 22nd of Dec 2010 at 03:54 pm
Thanks, winter39, I hadn't noticed that April resistance before. Just the kind of analytical eye I was looking for.
MON
Posted by winter39 on 22nd of Dec 2010 at 04:01 pm
Just noticed yesterday somewhere on the blog said on CNBC is a screaming buy.
Also see title: "Matt, can you please share how you determine price targets"
MON
Posted by zach06 on 22nd of Dec 2010 at 03:55 pm
Don't worry about targets...go have so egg nog! LOL
Okay, sold 1/2 and moved
Posted by frtaylor on 22nd of Dec 2010 at 02:28 pm
Okay, sold 1/2 and moved stop to 66 for the rest. Thanks everyone, I'll try not to "clog the blog" so much. I just wish I could learn to trade like rank, or ditch, or.... Maybe read some books? I read Trading in the Zone.
don't you feel better now?
Posted by Palladin on 22nd of Dec 2010 at 02:33 pm
don't you feel better now?
frtaylor - when the market
Posted by steve on 22nd of Dec 2010 at 01:24 pm
frtaylor - when the market is melting up on light volume I think you need to focus on your objectives versus looking for targets. In other words, trade it in accordance with your goals while implementing risk controls instead of relying upon 3rd party targets.
Oh, I'm not sure what
Posted by frtaylor on 22nd of Dec 2010 at 01:55 pm
Oh, I'm not sure what you mean. I guess maybe sell half when it hits 5%? something like that? Thanks.
What I mean is that
Posted by steve on 22nd of Dec 2010 at 02:08 pm
What I mean is that you need to have a plan when trading. The plan should be constructed based upon your personal objectives and risk tolerance. Finally, you should then trade in accordance of that plan.
seems to me you don't
Posted by Palladin on 22nd of Dec 2010 at 01:58 pm
seems to me you don't have a clear strategy. If in doubt and ahead of the game, sell some!
JMO
Yeah, I am still on
Posted by frtaylor on 22nd of Dec 2010 at 02:00 pm
Yeah, I am still on the steep end of the learning curve w/ trading. Can't go wrong selling some, or so I've heard.
if it keeps going up
Posted by Palladin on 22nd of Dec 2010 at 02:02 pm
if it keeps going up after you sell, then you went wrong! happens to me all the time BUT it's better than giving it back!
well, I don't call that
Posted by frtaylor on 22nd of Dec 2010 at 02:06 pm
well, I don't call that going wrong, just being prudent. I do have a stop in so that I will keep half of what I'm up so far. That's a strategy of sorts, I guess.
agree, but i HATE leaving money
Posted by Palladin on 22nd of Dec 2010 at 02:26 pm
agree, but i HATE leaving money on the table! Just the gambler in me I guess...
also beware of stops, especially if it gaps (up or down overnight)
profits
Posted by hazbin1 on 22nd of Dec 2010 at 02:05 pm
several easy rules.
1) can't go wrong taking profits.
2) NEVER let gold turn 'brown'.
3) re-read rule 1.