I don't mind if FWLT pulls back more. I only bought 100 shares (with a loose stop) and will buy another 200-300 if it does pullback to $125, which is where I see the most support.
It depends on your time frame. My FWLT trade is more of a position trade. Since the stock had already pulled back 5 points from it's high, and technically looks like it could breakout to new highs (based on the accumulation pattern), I was willing to take a small "feeler" position here. I never take a position if I'm more than 5 percent away from support or am not willing to place my stop under support. I also use a small position size.
No TA guru but SWHC looks like it potentially could go to $17 - just broke its 50 day although shorting somewhere just under $19 would of been a more profitable entry point.
11 comments:
Green text on black ok. Green on white? Please change it. It's barely readable.
I agree with that.
Pier
I'm still tinkering with the new design. It will probably be finished by the end of the week.
Thanks for the feedback.
Quick note that I bought 100 shares of FWLT at $129.26.
You jumped on FWLT too soon imo, I think this one may pull back a little more to 125 or so.
Hope it turns around and rallies for you.
SWHC still a good short, good thing you bailed on it.
TC
I don't mind if FWLT pulls back more. I only bought 100 shares (with a loose stop) and will buy another 200-300 if it does pullback to $125, which is where I see the most support.
Regarding FWLT: Under what circumstances do you advise buying a stock that is not pulled back to support?
Why not just wait for the stock to get to 125?
Thanks for your thoughts.
Hey TC: SWHC is at 18.4 now, do you think we should still short it? How low is it going?
Pete
It depends on your time frame. My FWLT trade is more of a position trade. Since the stock had already pulled back 5 points from it's high, and technically looks like it could breakout to new highs (based on the accumulation pattern), I was willing to take a small "feeler" position here. I never take a position if I'm more than 5 percent away from support or am not willing to place my stop under support. I also use a small position size.
Pete:
Definitely would not short SWHC now (18.25). It's too far extended on the downside. Actually, I just covered my short position.
The right time to short SWHC was on Sep 13 when it broke down through 20 and closed below.
The second opportunity came last week (Sep 19/20) when it rallied back to 20 or so again only to fail again.
Hope this helps.
TC
No TA guru but SWHC looks like it potentially could go to $17 - just broke its 50 day although shorting somewhere just under $19 would of been a more profitable entry point.
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