I picked some stocks for this month - Trading-Lab

maxthe$T · #1 11-21-2007, 01:44 PM

I currently watching
Tol
PHM
HOV
This picks for the end of this month. My goal is to short them

daytraderB · #2 11-21-2007, 08:34 PM

I'm glad you decided to start your own trading journal. That's a great way to learn and get feedback from other traders.

would you tell us the reasons why you decided to pick those stocks? they are already in the money, by the way

swingtrader · #3 11-26-2007, 01:07 PM

Hello,

starting a journal is a very good choice.

regarding your stock picks, it is not my intention to always criticize them. I took a look at them. You said you were gonna short them. Don't you think they are wayyy oversold already? I mean, you can make a few dimes on them, no doubt about that. but does their risk/reward make them worthwhile? again, not trying to bash you. I'm trying to understand where you are coming from...

Also be careful with PHM. it made a low at 9 and is way oversold. You might get a short covering spike in the other direction (UP).

ProTrader · #4 11-26-2007, 01:31 PM

at what prices did you get in? or intend to? any target? stop loss?

maxthe$T · #5 11-26-2007, 02:21 PM

swingtrader ok your right, but on other hand they money maker shorting them is a good idea but donthold them for too long.
phm bought for 10.29 stoploss is 9.00, target 8.50
tol bought for 20.00 stolloss is 18.00, taget im thinking 17.50
regarding to my research on tol falls on housing everyday...

BlueChips · #6 11-26-2007, 05:10 PM

ok...I think I totally lost you

Quote:

phm bought for 10.29 stoploss is 9.00, target 8.50
tol bought for 20.00 stolloss is 18.00, taget im thinking 17.50

are you SHORT or LONG? cause if you SHORTED PHM at 10.29, your target is supposed to be BELOW that price, whereas your stop loss is supposed to be HIGHER than your entry price. same goes with the other picks.

do I make sense to you?

maxthe$T · #7 11-26-2007, 06:17 PM

of course your right but at im doing either way i will make some money however if it goes adove the price i bought 10.29 then i should sell it .

you see im newbie im learning thats why im here

hedger · #8 11-26-2007, 06:38 PM

there's nothing wrong with being a newbie. everybody has been a newbie at some point in their trading career. Keep updating your trading journal regularly. that way you can always go back and analyze the what/when/why of your trades.

Leth · #9 11-27-2007, 12:29 AM

is the trend in each stock up or down? how does one really know for sure if a market is overbought or oversold? why does it even matter since backtesting confirms that markets indicated as overbought or oversold (by use of indicators and fundamentals) more often than not continue to make higher highs or lower lows?

curious about other opinions....

swingtrader · #10 11-27-2007, 02:10 PM

the trend in those stocks is definetly down, so the old saying "trend is your friend" would suggest he's right and he should short those stocks. however, another saying says "what goes up, must come down" (and the opposite)

.....

you are right, technical indicators can't predict where a stock is headed. they can tell what happened in the past at best. Still, by looking at those charts (indicators, volume, etc) my experience and gut feeling keeps telling me not to short them as they would provide a poor risk/reward ratio.

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#1 11-21-2007, 01:44 PM
maxthe$T Member Join Date: Sep 2007 Posts: 30	I picked some stocks for this month I currently watching Tol PHM HOV This picks for the end of this month. My goal is to short them

#2 11-21-2007, 08:34 PM
daytraderB Member Join Date: Jun 2007 Posts: 63	I'm glad you decided to start your own trading journal. That's a great way to learn and get feedback from other traders. would you tell us the reasons why you decided to pick those stocks? they are already in the money, by the way

#3 11-26-2007, 01:07 PM
swingtrader Junior Member Join Date: Nov 2007 Posts: 13	Hello, starting a journal is a very good choice. regarding your stock picks, it is not my intention to always criticize them. I took a look at them. You said you were gonna short them. Don't you think they are wayyy oversold already? I mean, you can make a few dimes on them, no doubt about that. but does their risk/reward make them worthwhile? again, not trying to bash you. I'm trying to understand where you are coming from... Also be careful with PHM. it made a low at 9 and is way oversold. You might get a short covering spike in the other direction (UP).

#4 11-26-2007, 01:31 PM
ProTrader Senior Member Join Date: Jun 2007 Posts: 109	at what prices did you get in? or intend to? any target? stop loss?

#5 11-26-2007, 02:21 PM
maxthe$T Member Join Date: Sep 2007 Posts: 30	swingtrader ok your right, but on other hand they money maker shorting them is a good idea but donthold them for too long. phm bought for 10.29 stoploss is 9.00, target 8.50 tol bought for 20.00 stolloss is 18.00, taget im thinking 17.50 regarding to my research on tol falls on housing everyday...

#7 11-26-2007, 06:17 PM
maxthe$T Member Join Date: Sep 2007 Posts: 30	of course your right but at im doing either way i will make some money however if it goes adove the price i bought 10.29 then i should sell it . you see im newbie im learning thats why im here Last edited by maxthe$T : 11-26-2007 at 06:26 PM.

#8 11-26-2007, 06:38 PM
hedger Member Join Date: Jun 2007 Posts: 38	there's nothing wrong with being a newbie. everybody has been a newbie at some point in their trading career. Keep updating your trading journal regularly. that way you can always go back and analyze the what/when/why of your trades.

#9 11-27-2007, 12:29 AM
Leth Super Moderator Join Date: Oct 2007 Posts: 621	is the trend in each stock up or down? how does one really know for sure if a market is overbought or oversold? why does it even matter since backtesting confirms that markets indicated as overbought or oversold (by use of indicators and fundamentals) more often than not continue to make higher highs or lower lows? curious about other opinions.... __________________ Nothing is more difficult than the art of maneuvering for advantageous positions. - Sun-Tzu Trade with the trend, Ride winners, Cut losers, Keep bets small, Use Stops - Old School Last edited by Leth : 11-27-2007 at 02:45 PM.

#10 11-27-2007, 02:10 PM
swingtrader Junior Member Join Date: Nov 2007 Posts: 13	the trend in those stocks is definetly down, so the old saying "trend is your friend" would suggest he's right and he should short those stocks. however, another saying says "what goes up, must come down" (and the opposite) ..... you are right, technical indicators can't predict where a stock is headed. they can tell what happened in the past at best. Still, by looking at those charts (indicators, volume, etc) my experience and gut feeling keeps telling me not to short them as they would provide a poor risk/reward ratio.