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Bought TWTC on 3/22.....

 
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Bluto



Joined: 26 Nov 2005
Posts: 146
Location: Va. Beach, VA

PostPosted: Mon Mar 27, 2006 12:16 pm    Post subject: Bought TWTC on 3/22..... Reply with quote

....4,500 shares @ $14.25.....I'm a happy camper right now. Very Happy
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profitkey



Joined: 03 Jan 2006
Posts: 2

PostPosted: Mon Mar 27, 2006 2:56 pm    Post subject: Reply with quote

I have just reviewed the chart and have acouple of questions.

I see a scoop pattern now that it has formed. What made you get in so early?

What criteria did u use to get into that trade?
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mesa613



Joined: 12 Jan 2006
Posts: 78

PostPosted: Mon Mar 27, 2006 6:09 pm    Post subject: Reply with quote

It probably went up because I considered buying it myself at that time but didn't. Isn't that always the way? Razz

All kidding aside, I don't know about Bluto's rationale, but I know I was tempted to buy it due to the bullish harami that formed bouncing off the 20 day MA. It's done that a few times since November by the looks of things.
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Bluto



Joined: 26 Nov 2005
Posts: 146
Location: Va. Beach, VA

PostPosted: Mon Mar 27, 2006 7:32 pm    Post subject: Reply with quote

profitkey wrote:
I have just reviewed the chart and have acouple of questions.

I see a scoop pattern now that it has formed. What made you get in so early?

What criteria did u use to get into that trade?


I use AmiBroker with Telechart, and AmiBroker lets you setup a slew of indicators on tabbed pages which makes it nice to really see the 10,000 foot view of things, especially with complimentary confirming indicators.
On this one, the 5-day SMA was nicely above the 20-day SMA, ADX was really high, the stock was under heavy and rising accumulation, and the CCI indicator looked good. Notice that bearish engulfing candle on 3/17 had a long lower shadow which told me the bulls were fighting hard, followed by a nice little harami on 3/20. My hunch told me that the bearish candle on 3/21 was panic selling probably carried over from the drop on 3/17, but who knows. A lot of the times, you just have to assimilate all of the signals and go with your instincts. Wink
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Mon Mar 27, 2006 11:41 pm    Post subject: large purchase Reply with quote

Bluto, my math tells me you are one of the big boys. One of the cardinals sins is putting more than 1/4 to 1/5 of your trading capital in any one purchase. This would tell me you must have at least a 300,000 dollar account. I guess you could be doing this on margin. That would cut your investment down to around 125,000. Exclamation
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Mon Mar 27, 2006 11:41 pm    Post subject: large purchase Reply with quote

Bluto, my math tells me you are one of the big boys. One of the cardinals sins is putting more than 1/4 to 1/5 of your trading capital in any one purchase. This would tell me you must have at least a 300,000 dollar account. I guess you could be doing this on margin. That would cut your investment down to around 125,000.
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Mon Mar 27, 2006 11:42 pm    Post subject: large purchase Reply with quote

Bluto, my math tells me you are one of the big boys. One of the cardinals sins is putting more than 1/4 to 1/5 of your trading capital in any one purchase. This would tell me you must have at least a 300,000 dollar account. I guess you could be doing this on margin. That would cut your investment down to around 125,000.
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Bluto



Joined: 26 Nov 2005
Posts: 146
Location: Va. Beach, VA

PostPosted: Tue Mar 28, 2006 1:25 am    Post subject: Re: large purchase Reply with quote

Harry wrote:
Bluto, my math tells me you are one of the big boys. One of the cardinals sins is putting more than 1/4 to 1/5 of your trading capital in any one purchase. This would tell me you must have at least a 300,000 dollar account. I guess you could be doing this on margin. That would cut your investment down to around 125,000.


Harry - easy on that "Post Reply" button there, m8! Very Happy

I never use leverage unless I'm trading options. I am fortunate to have a pretty decent trading capital reserve. I owned a successful business I sold back in the late 90's and decided to take some of the proceeds and trade more seriously (in addition to playing a bit more golf and noodling on my guitars). I usually initiate around 10 trades or so each week depending on what's up with the market but I did dump a bit more than usual into that TWTC trade. I bailed out of that one @ $17.10 this afternoon seeing how it was heading into uncharted waters.

Cheers! Wink
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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Tue Mar 28, 2006 11:23 am    Post subject: TWTC Reply with quote

Also a good Jay-hook formation. Excellent buy if you bought it at the $14.50 level. A very safe trade. Buying at the bottom of a potential Jay-hook makes for a very small stop loss process
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