A few days ago, Matt mentioned NBR saying that it was worth a
buy if it broke $12.30. However, he didn't put it on the buy
watch.
I decided to do some research on it and found that Argus Reports
just gave it a buy rating and said it was very undervalued with a
target of $20. So I decided to pre-empt Matt and picked up several
thousand for me and my wife's accounts this morning at $11.05.
I trust I made the right decision.
On the other stocks mentioned, I pulled out of CHK with a small
loss, was in and out of URE with a slight gain. Otherwise I am
neutral.
I like the chart. I've trade it 3 times today. Back in on the
long side. This looks like it wants to break that neckline over the
next week or sooner. I keep putting in sell stops and constantly
raise the price. It's up over 4% today.
It's closed and cross held .. I see two bull flags on
15min. SSO since support held at yesterdays low on SSO this morning
.. Let's see if this 2nd bull flag plays out or not
The VOLUME has really trailed off over the day, so what can that
mean? Can it be a slide into the close to continue the
downward channel from last Thursday?
NBR
Posted by davidd on 8th of Apr 2009 at 11:10 am
A few days ago, Matt mentioned NBR saying that it was worth a buy if it broke $12.30. However, he didn't put it on the buy watch.
I decided to do some research on it and found that Argus Reports just gave it a buy rating and said it was very undervalued with a target of $20. So I decided to pre-empt Matt and picked up several thousand for me and my wife's accounts this morning at $11.05. I trust I made the right decision.
On the other stocks mentioned, I pulled out of CHK with a small loss, was in and out of URE with a slight gain. Otherwise I am neutral.
davidd - here's the NBR that
Posted by matt on 8th of Apr 2009 at 12:57 pm
davidd - here's the NBR that I had in the update you were refering too
NBR chart
NBR
Posted by davidd on 8th of Apr 2009 at 01:53 pm
I like the chart. I've trade it 3 times today. Back in on the long side. This looks like it wants to break that neckline over the next week or sooner. I keep putting in sell stops and constantly raise the price. It's up over 4% today.
FEED
Posted by siewyin on 8th of Apr 2009 at 01:05 pm
coiled spring....boing !
Matt Clarification
Posted by trade_happy on 8th of Apr 2009 at 01:10 pm
Hey, Matt - on the SSO and SRS Mechanical Systems, aren't there 2 conditions necessary before putting on the trade?
1. MA's cross.... AND
2. Stay crossed until the candle on which they crossed closes. Is that right?
It's closed and cross held
Posted by cspirit on 8th of Apr 2009 at 01:17 pm
It's closed and cross held .. I see two bull flags on 15min. SSO since support held at yesterdays low on SSO this morning .. Let's see if this 2nd bull flag plays out or not
The VOLUME has really trailed
Posted by straws on 8th of Apr 2009 at 01:34 pm
The VOLUME has really trailed off over the day, so what can that mean? Can it be a slide into the close to continue the downward channel from last Thursday?
NBR
Posted by davidd on 8th of Apr 2009 at 11:34 am
Sold position at $11.48. Awaiting a recycle.