We are currently at resistance areas.
This Fall is playing out differently than anyone had expected. It could be that so many thought we would plunk back to the May/June lows starting September. Contrarian thinking made money for the bulls. We are now at resistance areas so there may be a corrective move this week before we finally take out the old highs. I think the bull market will continue. Nevertheless, i suggest you not be on margin this month until we get thru the infamous October.
posted by beanie11111 | 9:17 PM
29 Comments:
Some of you, i know, have only begun to invest in the stock market. One of the greatest secrets of stock investing/trading i will bestow upon you right this moment is to stay away from pinksheets and over-the-counter penny stocks. Also consider staying away from stocks under $5 in reputable exchanges. I've been there and have done that, as have many good traders and investors. They will tell you the same.
Most times you will not find bargains in trash bins, so don't expect to find it in penny stocks. Please. Just focus on "normal" stocks. Would you ever want to buy a business that is not successful? Well, you are buying a business when you invest in stocks. If you keep on wasting your time with penny stocks, you will never have the time to discover other wonderful "secrets" of the stock market.
Don't worry about the AAPL downgrade by Citigroup. It's just a technicals call. $70 will probably be the lowest it can go.
CSCO is the tech to turn to if you don't know what to buy.
beanie..sorry i had asked you this before. but VLO broke fridays high at 51.77, what is the potential shrot term target on this? do you think it can test 55 this week? thanks
DNA is reporting earnings oct 10. Earnings run has already started for this stock. Good buy here and hold it till 10/10.
anonymous,
There is a possibility of VLO going to 55 if we break 52 this time.
AKAM:
I love this stock, and will hold it thru earnings. If they beat their numbers on oct 26, i expect a RIMM type of gap up the following day.
RIMM looks like a short to me. Swing it.
I am buying some DIVX at 22.38
beanie..i think you might have missed BRCM in your tech portfolio..take a look
anonymous,
BRCM is on my screen. The reason i haven't recommended it is because of their options scandal. In hindsight, it was a great buy in the low 20's. (And probably still a great buy here.)
DIVX: A 50% retracement from the high would take us back to 21.50 area. We should bounce from there if it goes that low.
Looks like we're going for a corrective move this week.
DIVX: I only made 1/2 buy at 22.38 area. I am salivating for another big drop tomorrow so i can scoop some more up.
I'm holding my shares of RVBD bought from friday, last week. And got some today at 18.77. Do you I should add more? I have 700 so far. When do you think I should sell if it goes up again? at 19, 20 or 21? I usually buy and hold.
AKAM looks like a nice buy here for a swing trade.
anonymous,
i sure hope RVBD is not the only stock you have. Yikes! You know in the short term, any analyst can manipulate the stock by issuing a downgrade if he/she wanted to. How would you handle it if RVBD goes back to $15?
Tell me what percentage of your portfolio is RVBD and i'll tell ya waht to do.
Let me cross out AKAM as a swingtrade. I don't like the candlesticks i'm seeing. We'll see what happens tomorrow.
SMSI: Trading strong from the low today. I like it.
I hate to go contrary on DIVX but when Cramer says Buy, Buy, Buy it has been my experience to WATCH OUT!! I have been following him for quite some time and it hardly ever fails that after a few days his picks tank. I am still trying to recover from some of his picks.
hey folks, if DIVX dips tomorrow morning, buy it with both hands down!
beanie- I currently hold 70% of RVBD, sold vlo, hans and bry. Still holds some gigm and gg. I know I should diversify but I felt I could get a quick gains on this stock. But I shall value your opinion.
lee,
I agree. The reason they selloff is because everyone jumped in at the same time. Profittaking produces more profittaking. I would imagine, however, that DIVX will be in play for some time. It is an ipo that has pretty nice fundamentals. The fundamentals is what should keep the stock up as well as in play.
I'm not too worried about DIVX, although there may be one more dip before the bulls rush back in.
anonymous,
That's ok if you feel like taking more risk. Just watch the stock closely and you'll be ok.
For obscene daytrading profits, i suggest you watch DIVX carefully tomorrow for that dip that you should scoop up.
just imo
Make no mistake about it, once DIVX is done correcting, and the market cooperates (even if it doesn't, we should be able to reap some daytrading profits tomorrow), we should get an easy 10% move (and possibly even take out that 25).
NWS:
If you don't got it, now is the time to scoop some up for the longer term.
hmmm, if i'm a gamblin man, i'd say we go up tomorrow
AKAM: i think it bottomed. WHoever buy it here probably will get some profits tomorrow (unless, of course, so pos decides to issue a downgrade).
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