When I look at the charts, I am still seeing a number of great looking short setups, which has me cautious here. The PPT gave the signal to go long on Friday, Fly is giving the signal to buy stocks, so I guess I need to man up and buy something.
I went ahead and added to my position in Research In Motion Limited (USA) [[RIMM]] @ 66.50, and like the stock for a trade to $70. I am using the 100 day moving average as my stopping point in case the market gets murdered.
Note: My screens are producing little to none as far as long setups, which also leaves more room for caution. One thing is for certain, never bet agaist The Fly’s brain, aka The PPT.
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No sin in sitting out for a few days, you know?
tru dat.
don’t you mean who dat?
That too. I’m so proud of my boys.
I’m net long but have a couple of security measures in my playbook as of now… I agree with you though bro, a lot of tickers out there are so wishy-washy.
BIDU ripping AH
Like you’ve mentioned before Goog is a “tell”. They had good earnings and they still tanked, so I’m thinking it will be a time where we will set up some bear flags. That doesn’t mean that there aren’t some good spots to buy the dip, but be nimble if you do.
I’ve deployed quite a bit of cash since the “buy signal” was given. Some of that was used in existing longer term positions and some was used for new longs. My thought process is to hold the longer-term positions as long as it takes to get my expected target. The new positions will get dumped when the PPT gets ~2.90ish.
try some SEAC on a breakout, I know you love those plays.
Book plus cash = $7.22 with no debt (pre aquisition) & positive cashflow and earnings
market price = $6.74
third attempt at a breakout.
like it above 6.83