I don't know what that means, where you bought it. been on
the list for over a week. you could have bought it today on
the open or early this week inside the pattern near support, which
is what I like to do, I like to buy the stocks inside the pattern
when I can if they are near a support.
If you bought it right now at 13.38, then yes your risk/reward
is not as good. One rule that has saved my butt is don't
chase, move on to the next. Buy near support or right at the
breakpoint trendline, if you miss that and it's run away, don't
chase it. Volume is important for these longs as well, at
least for follow through.
FTK was also profiled in a recent daily newsletter....my advice
is to have a personal watchlist of stocks that you find attractive
and set alarms to those as a reminder.
But being a working stiff that puts in 16 hour days sometimes I
just don't have time to view the newsletters every day,. A few days
pile up and I can't find an hour or two to go over them, This is
why I depend on the TI and Wl. I think I have mentioned this
before.
ragwing- yes everyone is different and it's nice to see that you
have a nice steady job that keeps you busy, even working overtime.
Lot's of folks out there are still out of work. I used
to be a Chemist and worked double shits at times, so I know how
that is.
anyway everyone is different, BPT is not a one fit shop, BPT is
a research firm, we have stuff for day traders, swing traders and
folks wanting to focus on some longer term ideas. In your
instance, it might be best to not focus on a lot of the shorter
term day trade or short term swing trades, but instead focus on
some sectors or groups that are setting up as bottoming plays and
could be longer term holds. BPT is a research firm, you
decide what to use from us that fits your trading style and goals,
it's different for everyone. think of BPT like a newspaper,
read the articles you want to.
Gold for example, I've been saying that gold is in a secular
bull market since this BPT website started way back in 2003.
In secular bull markets, the best thing to do is to hold a
core position, and add to it on major dips, and sell when it gets
way extended, vs only doing short term trades, that way you catch
the majority of the move, and it's a lot less work. For
example I've owned physically gold since 2001 from the low 300's.
Selling gold last Aug or Silver last April was very prudent,
and then looking to pick up some gold in Dec made sense. I've
done this repeatedly for the last 11 years. I still think
that gold will eventually break out to new highs, but maybe not
until late Summer or early fall if my triangle plays out, but if it
plays out, then I see gold going over 2K, that's why I still own a
core position.
Also Gold stocks recently got very oversold and look interesting
for at least a trade, but possibly some kind of decent bottom for
perhaps a longer term swing trade.
natural gas, that's one I've been following for a while, natgas
fell to support from 2001/2002, so bouncing where it did this week
was logical. Longer term natural gas is not going to zero, so
I'm interested in it on this pullback to see if I can pick it up
for a longer term trade. Same with some of these natural gas
stocks, some of them have really come down far like UPL and others,
I think some of these will become value plays for longer term
trades if you can stomach some choppiness first.
maybe look at our dividends section for some interesting longer
term ideas. Don't pick them based on the highest dividend
yield however. GGN in the gold area is one we posted that
pays a monthly dividend of about 10% a year and is one I own.
I think you need to sit down and make a plan that fits your
lifestyle. Otherwise if you are willy nilly bouncing around
from day trades to swing trades to other things, you will not
preform well. You need to find your style and stick to
it.
Now this might mean that your style (was trying to focus on
longer term ideas) would only have you doing a couple trades a
month, ONLY when longer term things line up, vs every day, but
that's fine. Don't over trade for the sake of trading.
I've also seen too many members who say they are longer term,
but then they want to trade every day, that doesn't make any sense.
so just take some time to think about it, sit down and write it
out. I've given you some ideas of what I think might suit
you, but I could be wrong, you will have to decide.
FTK Update
Posted by steve on 27th of Apr 2012 at 11:00 am
FTK - Chart Link
Looks like I am late to the party
Posted by ragwing on 27th of Apr 2012 at 11:13 am
I don't know what that
Posted by matt on 27th of Apr 2012 at 11:21 am
I don't know what that means, where you bought it. been on the list for over a week. you could have bought it today on the open or early this week inside the pattern near support, which is what I like to do, I like to buy the stocks inside the pattern when I can if they are near a support.
If you bought it right now at 13.38, then yes your risk/reward is not as good. One rule that has saved my butt is don't chase, move on to the next. Buy near support or right at the breakpoint trendline, if you miss that and it's run away, don't chase it. Volume is important for these longs as well, at least for follow through.
That means, this is the first I heard of it. It is not on the Trade Ideas list
Posted by ragwing on 27th of Apr 2012 at 12:13 pm
Would have been nice. I did a search and saw it was discussed last week on the blog,. but that was one of those days I work.
FTK was also profiled in
Posted by steve on 27th of Apr 2012 at 12:15 pm
FTK was also profiled in a recent daily newsletter....my advice is to have a personal watchlist of stocks that you find attractive and set alarms to those as a reminder.
Good advice Steve,
Posted by ragwing on 27th of Apr 2012 at 12:21 pm
But being a working stiff that puts in 16 hour days sometimes I just don't have time to view the newsletters every day,. A few days pile up and I can't find an hour or two to go over them, This is why I depend on the TI and Wl. I think I have mentioned this before.
ragwing - yes everyone is different
Posted by matt on 27th of Apr 2012 at 12:53 pm
ragwing - yes everyone is different and it's nice to see that you have a nice steady job that keeps you busy, even working overtime. Lot's of folks out there are still out of work. I used to be a Chemist and worked double shits at times, so I know how that is.
anyway everyone is different, BPT is not a one fit shop, BPT is a research firm, we have stuff for day traders, swing traders and folks wanting to focus on some longer term ideas. In your instance, it might be best to not focus on a lot of the shorter term day trade or short term swing trades, but instead focus on some sectors or groups that are setting up as bottoming plays and could be longer term holds. BPT is a research firm, you decide what to use from us that fits your trading style and goals, it's different for everyone. think of BPT like a newspaper, read the articles you want to.
Gold for example, I've been saying that gold is in a secular bull market since this BPT website started way back in 2003. In secular bull markets, the best thing to do is to hold a core position, and add to it on major dips, and sell when it gets way extended, vs only doing short term trades, that way you catch the majority of the move, and it's a lot less work. For example I've owned physically gold since 2001 from the low 300's. Selling gold last Aug or Silver last April was very prudent, and then looking to pick up some gold in Dec made sense. I've done this repeatedly for the last 11 years. I still think that gold will eventually break out to new highs, but maybe not until late Summer or early fall if my triangle plays out, but if it plays out, then I see gold going over 2K, that's why I still own a core position.
Also Gold stocks recently got very oversold and look interesting for at least a trade, but possibly some kind of decent bottom for perhaps a longer term swing trade.
natural gas, that's one I've been following for a while, natgas fell to support from 2001/2002, so bouncing where it did this week was logical. Longer term natural gas is not going to zero, so I'm interested in it on this pullback to see if I can pick it up for a longer term trade. Same with some of these natural gas stocks, some of them have really come down far like UPL and others, I think some of these will become value plays for longer term trades if you can stomach some choppiness first.
maybe look at our dividends section for some interesting longer term ideas. Don't pick them based on the highest dividend yield however. GGN in the gold area is one we posted that pays a monthly dividend of about 10% a year and is one I own.
I think you need to sit down and make a plan that fits your lifestyle. Otherwise if you are willy nilly bouncing around from day trades to swing trades to other things, you will not preform well. You need to find your style and stick to it.
Now this might mean that your style (was trying to focus on longer term ideas) would only have you doing a couple trades a month, ONLY when longer term things line up, vs every day, but that's fine. Don't over trade for the sake of trading. I've also seen too many members who say they are longer term, but then they want to trade every day, that doesn't make any sense.
so just take some time to think about it, sit down and write it out. I've given you some ideas of what I think might suit you, but I could be wrong, you will have to decide.
"I used to be a
Posted by Palladin on 27th of Apr 2012 at 01:06 pm
"I used to be a Chemist and worked double shits at times,"
a shit job no doubt
nah it wasn't bad at
Posted by matt on 27th of Apr 2012 at 01:10 pm
nah it wasn't bad at all, but was time for me to move as I started focusing on trading much more which became a distraction at work.
ahww, you missed the punch
Posted by Palladin on 27th of Apr 2012 at 01:12 pm
ahww, you missed the punch line Matt.
... but I crack myself up!
ha ha , yeah I
Posted by matt on 27th of Apr 2012 at 01:15 pm
ha ha , yeah I missed that :)
I'm slower on Friday's I guess, well doesn't help that I only got about an hr of sleep last night, I'm dragging
get ready to sell into it..
Posted by zach06 on 27th of Apr 2012 at 11:14 am
I've been channel trading this puppy for over a year.. unless.. this is the breakout
13.71 is the yearly high
Posted by zach06 on 27th of Apr 2012 at 11:15 am