Thursday, July 12, 2007

Trade Ideas for 7/13/2007

So WTF was that? Geez. Gap down Tuesday, gap up Thursday to new record levels? I got long lots of GE...and was stopped out just before the real run up. Freaking POS. I had it right...other than the timing. Direction = Easy; Timing = Not Easy.

Here are a few ideas for Friday the 13th. Should we remember that date given what just happened? Heck if I know..

ARGN above 19.60
BIOS above 4.99
CVTX above 13.15
HDY above 3.05
LAVA above 14.35

MWA looks interesting again also.


Jason said...

Sorry to hear the timing bug hit you. It's like the flu, you never know when your going to get it, but you'll get it sometime.

Nothing worse than knowing you were right and getting triggered out of a trade- except of course being WRONG. I have had the worst luck with this in '07.

Jason said...

A question for you- do you ever use stops to by in or do you just enter orders as you determine they meet your criteria?

Even more side question - any comments on worldcupadvisors?

John Gilner said...

Hey Jason,

I normally don't use conditional orders to buy into a position, but there are exceptions to that like when I'm convinced an entry is coming and I need to step away from my desk, etc. In general I'll camp out on the 1-min or 2-min chart and wait for a specific price to trade, then I'm ready w/ my finger on the buy button. The reason is that I generally want to see how the stock acts when my entry price trades. If it's got momentum, I'm in. If it trades a couple hundred shares then doesn't get going, I'll wait and watch what happens, maybe wait for it to trade a little bit higher, watching volume.

Regarding WCA, honestly, I don't think it's a good program for the investor. I do think some excellent traders are involved (Brian Shannon for example, and some others) but by the time you finish paying the ridiculous fees and account for slippage, I doubt you will come out ahead.

Best of luck!

Jason said...

Thanks for the 2 cents John. Much appreciated.
If you know any good places to put a hundred k, let me know, I don't have time to trade that much.

John Gilner said...

Hey Jason,

Yea, it's difficult to make a decision to put money somewhere and leave it be once you have become a trader. I passed the "buy and hold" stage quite some time ago and just can't bring myself to dump money somwhere that I don't have complete control over it.

One question is why don't you trade that amount? 100K is not chump change, but it's not so large that you can't trade it with only a handful of trade ideas. If you trade only stocks that trade, say, 500K or more shares per day and you allocate the money to 20% per position (meaning never more than 5 positions at once) then you have a pretty managable situation and no more than $20k in a given position and enough liquidity to get out if need be. Just a thought.

Email me if you want to discuss ideas along those lines more.