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techBear
Did you notice which one??? Doing some research, and if it was it SBSH - Salomon Smith Barney , I'd like to know!
Thanks
ADD on Watney99 Yes and if you were here, to see me, you would see me standing at the keyboard, pointing my finger, with a book under my one arm. while typing. LOL It's a hard habit to kick, been preaching about the needed RS for a year! Sorry. Amen!
pitbull74
I also wanted the RS after the move several months. I wanted to see profits, end of 2006, first.
Todays PR may show the reason we didn't see yesterday. The American is forcing the split. Yesterday I stated about Gtel board's (IPO) mind set. Today I'm seeing the American's mind set.
Yes Gtel meets the market cap waiver, but the American wants a more stable financial standing. I'm sure they don't want companies to trade the same on their exchange, as it did on the OTC:BB. They would just become a compeitor of the NAZ small cap exchange. If a company had billions of shares, the same trading patterns, with the company stock would continue on their exchange. What would be the point of the move.
I've found under a dollar stocks on the American, but not with billions of shares. Those companies PPs spreads are 1 cent, not 10ths of a cent. Their OS are millions. All know billions begets, 10ths. May be that simple.
You want to be a grown up, then act like one! Don't care how tall you are. Funny how life is reflected in the market!
holter
Don't know if this will get deleted, seems Rocky feels some of my post should not be here. But this email from MR Huff was posted by Mailman a respected guy and may answer part of your question.
From:Tim Huff
To:XXXXXXXXXXXXX
Subject: can you answer this question?
In a message dated 5/9/2005 9:53:21 PM Eastern Standard Time, thuff@globetel.net writes:
The reverse only applies to the common. The preferred doesn’t have a share number attached to it. The preferred is set by the Board and filed with the State of Delaware. In example, a preferred could have a 100:1 ratio. Meaning for every one preferred, it will convert to 100 shares of common, again this is set by the Board depending on negotiated terms. So the number of preferred in the company isn’t really an issue. If you have 1 share of preferred, it could have a million to one ratio. I hope this explains it.
Regards,
Timothy Huff
CEO, GlobeTel Communications Corp
9050 Pines Blvd. Ste 110
Miami Florida 33024
Tel: 954.241.0590
Fax: 954.272.0380
From: XXXXXXXXXXXXXXXXXXXXX
Sent: Monday, May 09, 2005 9:24 PM
To: thuff@globetel.net
Subject: can you answer this?
Tim
can you answer this question?
Thanks
There will now be 100 million authorized and approximately 66 million outstanding. My question would be about the "10 million blank check preferred shares". They would/could have been used to prevent a "hostile" takeover. I wonder if the number of preferred shares will remain at 10 million or be divided by 15 leaving a total of 666,666.666666666666666 shares
Watney Investopedia leaves out info on the use of a reverse split, it is a business tool. Nothing more and nothing less.
Gtel is using the tool,as it was intended. To lift them from one level to another, in it's growth. Simple!!
From my web site;
Many call the R/S a touch of death, on the OTC:BB. And many times it has become that. But that is because the R/S was used by a failing penny company, to keep it from going into bankruptsy, while on the OTC:BB.Not what the R/S was designed for. The R/S is a tool, designed to help startups shift from a growth company operation, to a successful company operation. And end the need to finance the future growth by issuing shares and start getting institutions & banks to offer loans, because the company now has profits and a more stable financial record.
You will hear many many investor complain, but remember they don't want a successful company to invest in, they want 10 times as many shares to increase their % of profits on small swings. When R/S happen the value of the stock you own STAYS the same. $1,000 worth of stock is still worth $1,000. You just reduce the number of share you own by 10. So, those use to making a 10% profit on a penny run, will now only make a 1% profit. That's the difference between trading pennies and investing in exchange stocks, lower risk and lower profits.
pitbull74
I am putting my new swing order in the lunch hour and plan to play it like normal for now. Could become another long position though, Still thinking and calculating the numbers.
But you smaller swing profits after the move to the American exchang has been in the back of my head since minutes after the news.
You have to remember I'm a long GTEL trader and plan tp swing some one else in penny land after May 19, at which time I'll start calling myself a long GTE investor.
I understand why so many shareholders are up set that they will have to become investors instead of traders in GTEL, I've had a love affair for a year and a half with this little money maker also.
Just like everyone says about LOVE. There are plenty more fish in the sea!!!!
Well the rush hour is ending and Gtel's up 16% yesterday on Strahead hover, has turned into GTE's 1st new trading level today, down 7% on RS news at $3.68 per share. This is looking good, just like GTE's future!
Put my concern in RS selling at ease. Very orderly flow so far.
I evaluated my holding and can come up with my cash, yesterdays GTEL swing +25% and am sitting on a swing still sitting in TNOG that can go quick. So my plan is shaping up and the seat of my pants aren't brown, so I guess all's well in GTE land.
Not sure to make of todays 10 day 20 day news stuff. But May 19 date was reported, so I'm using that as the move date.
Since my last big mouth post, I've been getting emails and questions on weather to buy or sell.
Well my answer is yes. LOL Trying to be funny. But really folks, I am just a trader, not investment pro. I post opinions, my thoughts and rules, I learned over the years. Hoping to assist some with their reasoning and understanding of stock trading , as individual traders..
I don't expect anyone to buy or sell just because of what I post. Just hope they understand things a little clearer then before they read my posts. That's all.
All I was trying to do with my last post was , open some minds that have been with Gtel so long they would never consider thinking differently. The hold long and strong guys. Open your mind to new thoughts.
I have NO IDEA what is about to happen. This whole thing is new for me also. I'll say one thing though. You know about all the trading style, follow rules, use targets stuff I harp on. Well forget it all, until after MAY 19.
People that decide to just sit, may be the biggest winners, just for the lack of stress. LOL
Because IMO this has become a fly by the seat of your pants situation, and you have to rely on instinct & experience for the next 10 days.
Luck to all, please wish it to me.
THIS IS THE TIME TO PLAN !!!!
Running out of posts,, so this one may end up long by the time I get done thinking while I type.
Lets start buy saying I'm VERY excited. I can't see a down side, to this. But I'm thinking as a long investor. Maybe we should all stop thinking as a long and think about what is the best way to make money on GTEL. PLAN for the up coming volatility.
Gtel moving to the American will allow it to continue to execute it's business plan. With out the move I don't think it could have.
Because of the move I think the RS had to happen. Would have liked it after the move, but if the board approved it, (remember series b $15 mill funding deal has voting rights of 50% + 1 share) so it's a done deal now.
Now; how do we as investors play this happening. Keeping in mind 10 days and counting with Q1 and RS taking place before the 19 exchange move. After Gtel will be a big guy and could be treated just like an IPO, not OTC:BB company moving up.
I mention IPO, only because the majority of the trading public has only become aware of GTEL because of the STRAT. Since then perspective long investors have been doing DD on Gtel, just like they would if it was a unknown private company after announcing and IPO. I also think Mr Huff and the board is thinking the IPO mind set and pricing the open with the reverse split.
So my point is, the mind set of potential investors may be the same. If this is correct, Gtel has priced it's public offering sale price in line with the $4 to $8 average price at the American exchange, by the 1 for 15 reverse split. Another simularity, pricing the stock before opening on a exchange!
Where the final price will be, depends on when the RS happens before the move and how the existing shareholders and spec traders react. I don't feel MMs have much to say now!
FROM the PR:
GlobeTel has notified the NASD of the pending reverse split and it is planned that the shares will begin trading (post reverse) on the American Stock Exchange on May 19, 2005. The split could happen any day between now and MAY 19. Not after the move. This will open up many options over the next 10 days, unlike if the split happened after the move. IMO
Now , if the split is not excepted well because Gtel is still on the OTC:BB & the PPs falls, lowering the PPs x 15 on the split. The new PPs when Gtel trades the 19th as GTE could be at the low end of $4. If it doesn't matter about being on the OTC:BB when the split occurs, the PPs x 15 will be at the higher end or $8. American exchange average PPs $4 to $8.
I think the timing will have something to do with just how the PPs will react. Being, if it happens a day or 2 from now, instead of, a days or two before the move, I think it will hurt. To many reasons I think this to post.
I expect we will get Q1 first, have a few days to digest and the RS will happen, the 17 or 18th. What I want (hope) any way.
Now, do I swing this, with my entire lump and get the largest PPs swing as possible. Or do I just swing the money I put in over the next days? THIS IS THE QUESTION ALL HERE SHOULD BE LOOKING AT. Remember the swings on the American exchange will not be 25% 50% or a double, any longer.
Back to my IPO thing. If I owned zero shares would I be better off than holding. I'll be doing much thought about this the next few days. But as it stands this minute, I'm thinking get as much as possible. The trade target will have to come on the fly! I wish everyone good luck on what they decide to do. But I'd think about developing a NEW plan fast, to reap max profits on what is about to happen.
Lets use some numbers, for the "PERFECT STORM".
I own 10k and buy 10k this week, my over all PPs is 30 cents. Split hasn't happened and Q1 not released. I sell for a double the 15th Fri as PPs runs into news. SOP! $6k vested. $12k out. The PPs is 60 cents, I own zero and the RS happens, Q1 released. PPs reacts one way or the other and settles around 60 the 18th. The (IPO) American open PPs would be $9, open Thur the 19th and I buy back at $9.
Now, Most Exchange moves & IPO's run up the 1st few days, then retraces, like normal. So I play the play and sell on the retrace at $10. Wait for a semi long settle lower PPs and start to invest GTE long again.
AT ANY RATE, hope you get the idea !!! THERE IS MORE TO THINK ABOUT THEN YESTERDAY!!!! How will YOU handle this? I'd do some thinking fast or you could just stick to your long, long plan, to just hold till we come out the other end. There should be some good profits playing what is about to happen.
Reverse split opinion, HAD to Happen !!! Click link for my reasons.
http://home.comcast.net/~vcfeinc/info.html
ALL;
The past months posting here seems rather trivial after this news. Exchange move & RS great!!
For a company that just move to the American see MDF. They went from $1.20 to $3.00 today. After 3 months or so.
Check out TWW to see what Gtel could be in for. Exchang move and RS following.
I posted about them early April but think post was removed. They are the same kind of company as GTEL, except their market is mainly the US. Our closest competitor size wise, click Competitors on GTEL yahoo! They moved to American exchang 6 to 9 months ago and announced a RS April 1, with board approval due May 16. PPs up 20% and RS not approved yet.
Bet everyone trying to figure where they can come up with cash for tommorrow. I know I'm looking.
Looks like rocket chasing is the play, no other option. LOL The problem is how high will it be by the time I close some trades. Only have 2k cash.
To me With the Q1 next, all I've been waiting for, for a year and a half, has happened in one after hours PR. NEVER expected it all together. The core is what I wanted to succeed and it has!
This is biger than big. IMO I'm shocked to say the least.
Wish everyone luck !!! Because that's all we have now.
CC add on.
BING/ BANG --- Wait I have to take a breath !!! Great marketing PR after hours!!!!! And My swing closed today ! POOPie.
CC should have a target when you buy and sell at it. Emotion sucks! Don't it. BUT we both did win and that's what counts!!! LOL
Been calling a R/S was a must for GTEL. All great news now Q1 and I have no idea what's going to happen !!!
FASHION////willsimon
Add on fashion read post #1759 for R/S info.
Add on - Wow where did the 26 come from. EOD 26 same as lunch, same as short triangle showed. TA & MMA works !!
IMO intra day trades that make or save traders zero money (.2672/.2671) are normally MMs showing a comfort zone.
Simular to trades one after the other 10ths of a cent apart (26.6/26.7)trades at bid then ask. Signal equal buying pressure and selling pressure sitting on their desks, before they relase them, to the trading system.
It's kind of like us taking a breath versus finding a rest station on a long drive.
Corners/pitbull74/ TECH ---
Trims emailed me about the Scholastics with the same point. Looks like a move will last longer then normal,because of the position they are moving from!
CC ok I see your plan. Good work you followed your plan!!! Sorry if I sounded like I was talking down, Not what I was trying to do. You also ways sound level headed and I couldn't understand your move. Good work, IMO it's all good when you buy Gtel.
IMO Todays news was support to TA and shareholder expectations, very important, it will help PPs stay at a higher level EOD.
Expect MMs to run it up and down; lower lows and lower highs as the work this afternoon. But we should see a new higher level trading into June TA wise. For the big break out late June early July. IMO
26 at lunch, expect 26 at EOD.
grapes/ pit / Cutting Corners
Grape from what you posted I'd say you have the idea, if you watch the tic by tic you normally see the large MMs (Schb/Nite ) at the top of either direction the PPs is moving and the small guys pop in a nd out of the barrel to take their turn at getting their share of the play.
Pit IMO the news, as Tech said was predicted by the TA. and the spec traders were waiting. Don't think the street's view has been impacted at all. Just like the Q1, this was an expected event. The only thing unknown was when, and the Q1 is how much!
Cutting Corners WHY did you buy in a run? All last week you could have bought 3 cents less. Sorry but I had to ask.
Though I'd come over from the TA board and add my 2 cents here.
I've been harping on the need for marketing for over a year. Todays PR released 10:30 after the market rush hour is like the 4th or 5th time I've notice a pro's hand it news.
This is great and should be stressed, because good marketing is a strong part of a companies public success. Business execution is good for business, but public success is good for shareholder.
IMO we now have the help we've wanted for over a year in that area.
Another PLUS !!! Love watching them ADD up, kaching$
This is Sooo obvious. Watching the tic by tic, PPs went up on block trades 20 30k & more on way up; coming down on 5 10 K trades.
Could MMs have sold their accumulated shares into the Pop? Taking it higher than it should have gone (+/-3 cents)? We'll see where it settles. Could be it will fall to the TA indication of around 26 ?
Lets watch them play their game. Should bounce for a while, the lunch time stall could show expected EOD with some more bouncing this afternoon. IMO EOD will be 26 or so. We'll see.
PS: Want to stress again, Gtel released PR 10;30 after rush hour. Very good to see marketing people involved with new content and release times now. This will help shareholder realize their goals, in the long run. IMO
Bang there it went! closed at .284
If this keeps up my swing trade may close before I have a chance to do my re eval! Just a little over .28 will do it! LOL Darn.
Unbelievable, looks like non of the spec traders took GTEL off their watch list!
Volume exploding. Tech, so true!
PS; another sign Gtel finnally has a marketing plan. Release was after market open, instead of before !!!! Starting to act like a pro, guess MS. Garfunkle (?) is off value added card marketing duty and helping out on the home front! Another good sign.
Thought so there is news at 10 :30 Strat hovers! Woop tee dooo! I'll take the POP. my short triangle needed the help to get it's pop. 3 cents or so as I recall. Hope it hover at 65k feet also!
Great block trades at .25 just now, Good sign for the future.
OT: Thats a cool number to own! PS: don't speed in Torrington, My son got the job! LOL
PS: If you complain to your broker, they normally give your money back, with no problem, unless your broker is the MM. Then it may take some effort. They don't like to admitt errors, almost as costly, to loss of a customers, as not correcting it.
But if your broker doesn't make market in the stock, it's fast and easy. They go after the MM and get their money back right away. Because they give the MMs their business. MMs would rather give back a few dollars than loose thousands in lost business fees.
So if you ever have a bad trade COMPLAIN !!!
trimsprims
If your 31 is a long play, alls fine. If it's a swing, then tommorrow put it a open till close sell order at your 53.8. Watch every day, after rush hour,10:30, after lunch break, 2:00pm and after close.
That way it won't get past you, on your sell loss targets. If for some reason you think the PPs may hit your sell loss target, DON'T place a sell limit order way under the daily moving PPs, expecting it not to close if the PPs doesn't get there,IMO. A limit order does NOT alway work like a stop limit order on over $5.00 stocks.It's OTC:BB!!!
Event though it's not suppose to close, your on the OTC:BB and it may. IMO if anyone has a stock lowering close to the sell loss target, you have to spend the time in front of the computer. ( sit at the table)
Pop the sell order in, only when the PPs gets about 1 - 2% above your target, on a down move. That way your there and can remove it if the move turns. Because if you leave it there, some MM may just close it, buying for themself, or in error. (Adding to their inventory low)
Your order is in their hands at all times! It wouldn't be the first time, an order was closed in error and if you complain to your broker, you may still not have it corrected. Usually do though !! The thing is many don't, they planned to sell and feel oh well, it closed off a little. Must be my trading platform didn't show all the info.
I've had this happen twice in the past and my broker corrected my balance. But how many times do newbee's JUST say dame, they cheated me or my damd trading platform didn't show it , why? and move on.
It could be an error, or an out right taking of your money. The odds of a complaint, makes this practice happen too often. If only one in five complain, and get their money back, that means the error/theft stays in MMs pockets 4 out of 5 times.
Same theory as return coupons, few mail them in, and the company making the big offer knows the percentages, so they offer a larger discount coupon than they really want. It all balances out for them with increased buying, due to the larger offer, to the number of mailed coupons they get back.
trimsprims
Like to hear things like that. Shows you have a plan, and it has worked in the past for you. Great! Looks like a reasonable formular, with resonable expectations.
I wrote it down and may just start using it my self.
Anyone lurking can add to this board with stories of their style. Helping others and possibbly helping old timers also.
Thanks!!
Do you have a formular for sell loss?
MY last swing buy for Gtel, at .222, has had a open till close order in at .282 since the day after the buy. So I will be following the senario I just layed out in swinging this play.
I expect to do a re eval June and possiblly raise the sell target at that time. If a company event causes it to run to my target quicker than I expected, I'll close for 25% and be happy!!!!
I'll just wait for the next retrace bottom I determine and start again. Because I have determined a new top late June, early July and there should be enough time for another play.
See my point about selling at targets !! Determining exit points with TA, is used to determine if I'm looking at a stock that can reach my 25% penny swing goal. The TA does not determine my target, but will allow me to expect it to be reached, with a re eval to a higher target as time goes by. If you miss the re eval, because of a fast move, so what.
You get back in if TA shows you should, or you move on to the next stock on your watch list. You won ! Maybe, not with the highest score, but a win is a win. My trading style.
All lurkers should determine a style, find targets, how ever that style projects them, before you buy. STICK to the style's plan.
Don't buy because it's running and looks good, then follow the trading pattern for the largest profit, or hold until it's to late. Know what your going to do, before you do it!
doctorS
I see your point and am not a math major, log vs no log figures. I just know with out a log chart, which I don't use. I most always get the expected targets. 22 cents is my expected target for the next run.
Someone could log it and get more, I don't care, what I've been using has worked for me in past experience. With any chart pattern I use, flag, pennant, ascending triangle, descending triangle, or symetricals 9bull & bear). ON non log charts.
If the chart was larger you could see the series of chart indicators no the run up. 3 pennants, with a lull Dec 27 to Jan 12. Each pole indicating a new target which was reached. Then the flag which called for a 38 cent target, when a 36/37 cent high was reached.
I love to use chart patterns for projected targets. I still set my trading targets using a percentage of profit I want, but determine if the expectations are in line with chart patterns.
That said if I was just going to play Gtel for the first time now and evaluating it. I would expect the 25% I normally want. because of the chart. .23 + 25% = .29 target. The triangle show an expected target of 58 or a double. So as the PPs reached my 25% target, I'd do a re eval and if it still looked like a double, I'd raise my target to the double and my new sell loss target would become the old profit target!
This point it time with Gtel is a great example of how I can illustrate, my trading style. Hope it helps some that have been following my post, see it clearer, whit this example.
doctorS
Your correct in the appearance of the 2 charts. The KEY is when things will happen. The 2 month Aroon cycle for next high, which will reach point 4 of the triangle, ( breakout point) Mid June. Also the expected rise in PPs, shown by the start of the lower line and the top line, of 22 cents, on the triangle. The target!
No matter the charts look a little different, If I liked log charts, it would just look flatter. The calulations would still be the same.
Cycle bottom around May 11th, top around June 11 and 22cent rise, from the triangle top of 36 cents to 58cents some time after, late June, early July.
We'll see!
trimsprims
No late June,early July target 36 cents(top of triangle) + 22 cents (hight of begining of triangle) = 58 cents TARGET.
After will be the normal retrace and waitng for a new chart pattern to form.
Click link below to see market makers, volumes traded , rank,and % of total traded.
On the top right you can scan back 1 year.
IMO the only reason Gtel has more MMs is because Gtel has 10 times the daily volume as last year. More volume, more opportunity to make money covering them!
Strictly a business move, on MMs part.
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=GTEL&SortBy=volume&Month=4...
Just think of that, if it happens. A $58 billion market cap, for a penny! That's really showing POTENCIAL, in shareholders eyes!!!!
Remember I posted about TWW weeks ago, Gtel's closes competior size wise and business plan wise, off OTC:BB 6 to 9 months. Well it's 8 days to RS board meeting and it's up 10 cents from 62 cents, April 1, when RS was announced!
Here's a 6 month chart trying to see out to JULY.
Juststocks
Have no idea what is important about a broker for you. but check out my name sake. www.lowtrades.com. Main reason I'm there is, I have control of the cash I'm not using and cheap fees. A discount broker, Div. of Sucess Trades.
$5 trades, market order, stop limit, limit orders, full or partial round trip computer orders. Does have 100k cap on penny orders before extra fees though. Exchange routing, ETC.
Been there 2 1/2 or 3 years with few problems. Not a day traders site but, account problems handled quick, had maybe 1 a year, reports lacking some, many account options.
I have a cash account, with money market account, check writing and visa debt card. When cash sits, it's automaticlly swept into the money market account, drawing better than bank interest. So instead of cash sitting at your broker earning zero, it's working when I don't need it. Some times I make more on the money market account, then my trading account. LOL
The main thing I like about them, I use my broker just like a bank account. Wire xferr in, checks and debit out!
PS; I have written check with out enough cash to cover and they cleared. Left a negative trading account balance and was settled when I closed a trade! Don't know how large a difference will go through. My error was small about $85.00.
labig
Thank you, Your the guy I was talking about, adding low to draw spec traders in before the Q1 release. Would like many more longs to add next week!
Hope more lurkers come and voice the same opinion. And follow up by buying next week. EOD volumes at over 10 mill would be perfect for the start of a run, IMO. I just add at .222. Wish my target hit closer to Q1 release so I could help increase volume also!
william2112
LOL If you got into a car and headed east, we could wave at each other. Then we could turn arround and do it over and over until we create a channeling wave chart pattern. I think we're both nuts! At least me.
Calling it a night, I think! cheers!
LOL
william2112
Your volatility , my lack of volume. We are looking at it from different angles actually. And both correct IMO.
Volatility does, with out a dought, control the major runs. Lack of volume causes MMs to work harder, to stay in business.
The question we need answered is will the Q1 create the volatility needed for the major run you speak of or will it be passed up because the irrationals aren't around to act on it.
I have history, hating MMs and buy the time the good Q1 report came out last year irrationals were gone, the expected run didn't happen, the walk down did. IMO they are gone this year also.
I'm concerned of a simular thing this year. The good sign, this will not happen, this year, is the TA and the fact there are more long investor, because of the Strat, that may add low, few days before Q1 release. If this longs buying starts, the spec traders watching GTEL's stall may come back and monentium will make me feel alot more like you.
I want to see volume INCREASE! Not need the PPs rise, just a sign longs are adding.
william2112
LOL I just posted the same point! To squ1dk1d !
squ1dk1d
That being said, I will add, the TA this year has a positive chart pattern mid term, last year didn't. So with or without company intervention, Gtel has a over all, leg up trend, this year, that wasn't there 2004. TA only!
But company event or TA alone, we're in MM land.
Here's are 6 month & 2 year charts that shows the same mid term trangle, when I picked .38 as a mid term target! Weeks ago. Hope this charts shows up.
Just re read my post and it seems I didn't speak as clear as I should have. Which may miss lead you.
My yellow circles are a little out of sync and I forgot to add, the pop may have popped! The red statement on the chart was what I wanted to get across.
We're in the Hands of Gtel events, or MMs hands now! Without continued business plan execution,or an event, the MMs could walk this down like 2004!
You know I like this board. Makes me think! Thanks all.
OK, Who was the one that posted about a long look weekly view the other day?
That has been in the back of my head since then. Kept saying to my self, why would he look so long out? This is dame penny, who cares what happened 2 years ago!
But got me thinking, it wasn't what happened then, but what has happened since. What TA is all about. History repeats.
We have all been narrowing and narrowing our charts and indicator numbers to see what will happen tommorrow. Well and good, if your holding a short position. Seems we have been caught up in hitting the next move more. And can't see it short.
The narrower we go, the more we miss. I'm harping on one week triangles and some are harping on how accurate the shorted aroon's match daily moves. But we're at a point that there is no trend, no volume, and no real way to predict what will happen next, because we're looking at Gtel in a microscope now.
Lets take a step back guys, and look at the over all picture, for the next move. Are there 1 year or 2 year charts indicators and chart patterns that compare to the ones happening short right now? Then see what happened, after that time then. The POP we've been talking about.
I did a quick look and found cycle lines between down lines and up lines, slowing, on the arron, and the position of the DMI+ and ADX closly matching a period back Jan 2004 to May. At which time there was a last 20% pop before the long walk down to the end of 2004. This POP is what we've been talking about, but not seeing. Now look at it, first week of May 2004.
Going to spend more time on this over the week end!
Ouch getting close! on day trade
Only 14 mill traded, dam e MMs. LOL
Here are my normal target rules.
For non pennies swing trades 10% $2.00 to $5.00, 5% $5.00 to $10.00, and 2.5 % $10.00 to $20.00. Don't play higher. Don't go long! All loss targets 1/2 the proift target.
For penny swings, under $2.00, 25%, loss 12.5%;
Day trades, Target moves 10% above the last held PPs in 3 steps. 1/2 first buy, 1/4th 10% lower, 1/4th 5% above 2nd. loss target 20% from first buy.
Long a double! loss 15% below first buy! Add when I have EXTRA cash, 10% of original buy each time, only twice, each 5% below the last drop or 5% retrace after pop. Will result in about 20% loss or 20% larger gain.
Pick your own, but stick to them.
william2112
Bill, don't get me wrong, I know it is starting to sound like I think I'm a know it all with all my opinions. I, like most, have made most every mistake it the trading book. I also still don't always do as I say, but do as I do sometimes.
I'm trying to reach the lurkers, mostly, trying to pass on want basic things that MUST be learned. Allot of the rest of my posts are conjucture, from experience, IMO's, but some should be in their rule book. This is one!
I will be so forward as to mention one thing, I've seen some experienced posters, post several times, that is covered in the rule, I just posted. Determining exit points are hard!
It is not hard to determine an exit point. It's when your target is reached, not when you think you can get the most out of the run. Let it run, take the profit you wanted, not want the target you can get!
That simple!