Less volume off of a double top breakout from yesterday, with about a 50% retracement today.
Very typical when a stock is trending in a base, in a macro environment with no clear trend in the market.
Simply put, the chart is still in good shape.
How do I know there's no growth?? Ahhh, its called the annual report, or the 10K, or the 10Q. The company itself has told us they are a no growth story. You just have to read about it.
My point is, in this crazy world we live in (as you pointed out), this defense company still cannot grow. So it it a good, solid little company? Yes. Is it a growth company justifying a PE in the 60's? My god, far from it.
If you read the financials put out by the company itself you'll see there has been no growth for many years. It's as simple as that. If you don't want to read them, that is up to you. But usually people that go long read the fianacials first to see whether or not the company is growing.
Good luck though. Don't bother using stops either LOL.
Emotions are tough to fight when it comes to investing. You should consider stops.
By the way, I am a trader, and have been long MAGS probably about 25 times. But the momo is gone for now, so short is the way to play.
What is your average cost, and what is your threshold for pain (exit plan).
lol, no not really, i sell whenever i feel i need to sell, and i gaurantee i will not wait till 5 to ever sell, but i also gaurentee that we will not see 5, and i believe you just made another horrible post, you dont even know me or my psychology, pleas dont try to play prophet and explain to me what i will and wont do.
nope, i follow the stock daily though, also the days of huge volitility are long gone for mags, if you havent noticed, the management has commented on it also, the fact that they would like to lower volitility of the stock, dont you realize that is one of the reasons for the dividend? so i will be able to pull out if i ever need to. Stock has dropped on no volume, gone up on good volume, the stock has held this range with no news for almost two months, the stock is paying a dividend early next month, and security issues are not going away. I dont see how you are making a wise decision and basing your short on its p/e, the company is one of the few that are even making money. They already stated that the first quarter is their slowest, they already stated that they will see a loss for this quarter cause of the 1 time expense charge for its employees, we get passed this quarter, the company might not give specific guidance, but we they will continue to make money in the 3rd quarter and it will probably be stronger than the 1st quarter which was 9 cents a share. And the closer we get to the end of the year, the closer we get to seeing momentum from its new products. Any other important news is just icing on the cake, watch out.
I don't think you understand. They haven't grown at all in years, so why do you think they are suddenly going to start growing by 60%?. If they couldn't grow at all in the last, say 4 years, which should have been the best 4 ever for a company in their business, why will they grow at 60% going forward?? Do you see the problem?
how do you know its a no groth story? is the world in the same situation it was 10 years ago? how do you know anything about the company? how do you know they are not trying to grow the company now? you know, when times change, when certain situations occur, new opportunities open up. Look, people like you are only going to help when the company lets out news. Dont think for a second the company insiders dont realize now how their stock price can make them very wealthy.