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Magal Security Systems (MAGS) Message Board

  • jollyguyidiot jollyguyidiot Apr 26, 2001 1:47 PM Flag

    Breakout

    Some good posters here. Me, I'm a technician who only trades stocks with superior fundamentals backed up by a solid chart, which is what attracted me to MAGS. I started chipping away a couple weeks ago based on strong technicals.
    Now we just blew past the 52 week high. Actually, this is a 5 year high.

    For those that know this business better, any longer term insight behind the move?
    Congrats to the longs.

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    • Whoa them horsies pal ,4/00 saw us over 5. I was there, where were you? And true tech traders don't give a crap about funnymentals...they just get in the way of the true game. Breakout of the present trading pattern...yes. Until it clears above the 3+ year accumulation period , sit back , have a beer and chill

      • 2 Replies to stevo_59
      • You are correct in that I was premature on the five year high. I was looking at a Yahoo chart at work when I thought we cleared that threshold. Just got home, looked at my stock trading charts, and spotted that $5 high from last year.

        As to that $5 high last March. It should basically be thrown out. You could toss a dart at any Nasdaq stock page at the beginning of last year, and end up with a winner nine times out of ten. All ships rose in that high tide of irrational exuberance.

        The fact that this stock is challenging it's five year high in this market, and did just make a 52 week high, makes it stand head and shoulders above 80% of the stocks out there now. Hell, maybe 90% of the other stocks.

        Where was I 4/00? Counting my profits like everyone else! That is until that 700 point one day drop! Did have enough sense though to cash out of some (but unfortunately not all) of those high flying techs and diversify. Loving those dividend and interest checks now!

        Who said I was a true technical trader? Like I said, I only trade companies with solid fundamentals AND good/great looking charts. Have swing traded TYC, KMX, OPTN, PSTA, SRK, RESP, LEN, TRFX, RINO, and MAGI lately. A good mix of large, mid, and small caps. Have a heavy bias though to small and mid caps reporting consistently good earnings.

        You go ahead and wait for MAGS to break out of it's three year congestion. I got my shares at $4.15 at the bid about one week ago. Do the math, that makes for a helluva an annualized rate of return.

        You go ahead and have that beer and chill. Me, I'll be looking for and buying the next MAGS. I'll throw you a few bones. Look at at ELRC, EFTD, SCRI, and BCGI. You have to pick you're entry points, though. And for one that IMO is very close to popping, but which is VERY thinly traded, which means it can be prone to extreme MM manipulation, look at CALM. Actually, as of tonight, I have 237 stocks in my "superior" earnings watchlist, about 30 times more stocks than I have money to play with. And I still have two days of Investor Business Daily earnings to get through. That's where I've been!

        As to MAGS. There is no telling on a breakout if it will pause briefly before moving above the breakout point, retrace 20% to 66% of the gain in a test of support before moving higher, or go like gang busters for several days running. KMX moved up strong three days before sending out a support arm, and only retraced a bit. OPTN moved up strong, but had a slightly deeper test of support. SRK moved up modestly, and is still in the process of sending out a new support arm. So I have no predictions on how MAGS will react. But breakouts supported by a good previous volume cluster, which MAGS has, have a VERY HIGH probability of moving significantly higher within a month. Each person has to pick their own exit point.
        The only variable with MAGS is we're in front of earnings. If earnings are great, and we've moved well beyond $4.75, I'll sell the news, then look for a soft spot for re-entry. I may even sell the news if we're still at $4.75. If earnings are flat or poor, I'll also sell the news, chalk it up, and move on.

        I'm taking your advice now. Popping a cold one and catching Sports Center on ESPN before I hit the sack.
        Good Luck

      • I have owned MAGS for about 6 months and I think the company is totally overlooked and a major gem. Company is basically tops in the world at what it does, has been around for a long time, and it is the ultimate play on increased instability in the world.

        Large company buyback is great also. Could and should be be a $10 stock before the end of the year.

 
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