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FDP and TNC thoughts?

 
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russjackel



Joined: 16 Sep 2005
Posts: 59
Location: niantic ct

PostPosted: Mon Mar 06, 2006 9:41 pm    Post subject: FDP and TNC thoughts? Reply with quote

thinking of going long on these two as I believe they have morning star signals and are oversold. I am feeling that the risk reward looks promising and would like any input from all of you experts on this board. thank you for any and all response. Confused
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Bookworm



Joined: 29 Dec 2005
Posts: 71
Location: Lubbock, TX

PostPosted: Mon Mar 06, 2006 11:26 pm    Post subject: Reply with quote

russjackel,

You are correct that both FDP and TNC have formed morning star signals. They came up on my scans today, too.

I would be a little concerned to make sure FDC closes above the gap it is just under. Falling windows like this need to be closed all the way; otherwise, you have resistance on the "window ledge."

TNC looks to me to be the better choice of the two--mainly because of today's volume vs. 2 days ago and because a whole range of stochastic settings have stretched together under the 20MA. Man, did it fall out of bed!

I'm not usually one to look at fundamentals or news, but you might do a Yahoo Finance news search of both of these to determine whether these steep drops are overreactions or have some merit. At least that's what I would do.

Also, I'd be out of either position if they doubled back on you. Before you enter, ask yourself what amount of pain you are willing to endure should they reverse. The way I'd play it, I'd put an initial 1/3 position profit-taking stop at an amount above my buy price that was equal to the difference between my stop loss and buy price: a 1:1 ratio. Once that triggered, I'd move my stop loss to break even and let it ride.

Well, maybe that helps.

Peace and all good,

Bookworm
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abbo



Joined: 12 Sep 2004
Posts: 148
Location: australia

PostPosted: Tue Mar 07, 2006 7:36 pm    Post subject: Reply with quote

Would the usual volume of trade for these stocks be an issue? I dont know the stocks but liquidity and volume as a driver are important to me.
Abbo
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russjackel



Joined: 16 Sep 2005
Posts: 59
Location: niantic ct

PostPosted: Tue Mar 07, 2006 8:55 pm    Post subject: Reply with quote

thanks bookworm for your input was going to buy this morning but seeing as neither one was positive stayed out. guess I will keep them on watch and look for a better buy. Thought that fdp saying they approved a 30 million dollar buy back would have had more juice but did not happen so will follow the market and stay out.
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russjackel



Joined: 16 Sep 2005
Posts: 59
Location: niantic ct

PostPosted: Tue Mar 07, 2006 8:56 pm    Post subject: bookworm thanks Reply with quote

thanks bookworm for your input was going to buy this morning but seeing as neither one was positive stayed out. guess I will keep them on watch and look for a better buy. Thought that fdp saying they approved a 30 million dollar buy back would have had more juice but did not happen so will follow the market and stay out.
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