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American Express Company Message Board

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  • luckyone581 luckyone581 Nov 6, 2008 2:48 PM Flag

    AXP Chart Evaluation & Buy Mention

    I repurchased AXP today at 25.59. I have a stop loss at 24.75 but if I get stopped out I will re-purchase again around 23.20.

    Objective on this trade is 31.60. I am risking $84 to make $601. It is a 7-1 risk/reward ratio.

    My name is Tony and I am a chartist. I have been trading for close to 30 years. In the 80's I was a broker/trader/analyst for Merrill Lynch, Dean Witter, and Pru-Bache.

    I offer an inexpensive chart evaluation service on stocks of your choice through membership to my website and message board.

    “When or where do I get in? When or where do I get out? What is the trend for the next week? For the next 3 months? Where are the strong buyers and where are the strong sellers (based on past action)? What is the risk/reward ratio on my trade (based on chart objectives)? What looks good right now (chart-wise)?”

    These are some of the questions that I try to answer through chart evaluation.

    I offer a monthly service that includes a weekly newsletter with chart evaluations on 4 stocks that I believe have attractive chart patterns and good risk/reward ratios as well as 1 chart evaluation per week on a stock of your choice. The service also includes membership to a message board where daily updates on all stocks and stock indexes are given. Cost of the service is only $27.95 per month.

    If you are interested in learning more about the service, please check out my website address on the Yahoo message board profile area.

    If the paid service is not something you are interested in, I do distribute a “free” newsletter every week that gives a chart evaluation on the stock indexes. If anyone would like to receive it please send me an email to the email address shown in the profile area.

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    • Correction, I had a typo. My stock on this trade is 24.65......not 24.75.

      Even so, most of my stops are mental which means that if my stop loss gets hit, I usually wait a few minutes before deciding to get out or not. It is a defense mechanism against false breakdowns.

      • 1 Reply to luckyone581
      • I doubled up on my positions today at 22.10. I am now averaged in at 23.37. My stop loss is at 21.90.

        Today is a short-term pivotal day for the indexes. In reality, the indexes should be heading lower today as they broke below last Thursday's low and that should generate a new re-test of the lows with the DOW heading down near 8198, the SPX near 840 and the NAZ down near 1503. Nonetheless, knowing how this market is often manipulated, it is possible they will reverse the market today as everyone is bearish.

        The 10-minute chart on the DOW has now set clearly defined day parameters. The low of the day has been 8578 and there is some support there. By the same token the intra-day high after the initial break has been 8673. A break above or below either of those two levels will likely generate a move of 150 points in that direction. In the DOW down to the next support at 8415 and on the upside up to the 8850 level.

        So that is clearly established. Whether AXP will follow a break down with a low already at 22.03 is a question I cannot answer. Nonetheless, the chart on AXP is now fulfilled with today's drop and if it plans to go higher, it will do it from here.

    • Tony thank you for your donation!

91.45+0.05(+0.05%)Nov 26 4:02 PMEST

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