When a stock breaks out, its previous high tends to become support going forward. That's not set in stock because anything can happen. That makes 102.05, the previous closing high now support. Might not see it below 100 for some time now. I have been watching HZNP because its chart looks to be on the verge of a break out. Typically, traders wont buy before a confirmed breakout which means it has to hold above that break out price for at least 3 days. The reason is a failed break out. When they happen then the downside gets ugly. typically I will try to anticipate the breakout and buy 1/4 ahead of it. That way If it fails I still can average down as it goes lower.
I don't want to sound to biased against GS, but their a bunch of brainless twits. Their analysts are paid to push GS's book. They could care less about their clients. Muppets, Its that how they refer to their clients?
Exactly. Insiders sell for many reasons. None of which are alarming. Imagine how much we would have missed if we sold SWKS at 70 or 80 or 90 if we only went by insiders taking some profits. People need to learn how to read these filings. When I saw that S-8 on their IR page a few days ago, I wondered how long for someone to post about it.
I had a good week too. Set 4 consecutive all time highs with my portfolio this week. Added 1.7% total portfolio value this week just on AGIO, NXPI, SWKS and AMBA. My other positions helped some too but not a lot. Not bad performance for having 40 to 50% in cash. Finished the week at 54% cash with a bit of profit taking in KR today.
Side Note: I didn't by SWKS for the dividend. I haven't really bothered with dividend stocks since I retired. I do growth stocks now. I just haven't changed my name to prevent confusion. I do miss Cheetah. We have some great valuation people and some great technical people here, but Cheetah was our big options expert.
If I remember correctly, AGIO is presenting solid tumor data at the European conference in June. I have the solid tumors in my calculations. I think AGIO is work 10 to 15B depending on the pricing of its drugs. Of course, we will need to wait for that price sine we will have to see some of these drugs reach market.
Yes, I love KR long term, but that sign of a potential head and shoulders is of concern. That is why I took a little profit. The valuation is fine and it is the cheapest company in this sector with the best management. I figured I have enough exposure if it breaks out and enough cash should it break down.
APPL is the feel good and sleep well at night stock. Great iconic company with good dividend. SWKS and NXPI are good growth with good management. They are cyclical tech so when times get tough they will go down like in Oct on the Ebola scare. AMBA is just a promising young company and much more risky. You should talk about your losers. They are the real key to investing. Knowing when a company is bad vs just bad stock action is important to outperforming long term. Sometime selling a big loser is necessary to prevent it from being a bigger loser. Example: 2 years ago I bought a fertilizer company and neglected to admit the landscape was changing with cheap Chinese imports. After the stock lost 40% I finally gave in and sold it. It was the best decision I made cause it dropped another 50% after that. Losses hurt sometimes but they are necessary once in a while because they can be a cancer eating away at your overall portfolio. Its important to identify if you got something.
Thanks Mike. I will watch that resistance level. I cut it back to 5% so I can rebuild it if we fail to break out or for some reason break down.
I took a bit of profit today in KR. It has moved up from $69 to $74. I felt it wise to lock in some of that profit and put in a bid lower for a nice pullback. Maybe Mike can tell me if that was a good move from technical view.
After moving from 69 to 74, I thought it wise to lock it a bit of that gain. I still have plenty of stock for upside and now I have cash to put in a bid lower should we pull back again.
Always has been. Q4 and Q1 are the best 2 quarters for the market with Q3 being the weakest. Its easy to see when I look at a long term history of my performance on a quarterly basis. Q3 has been a down quarter by 1 -2% for years for me. That is why I lighten up after Q2 earnings and wait for a lower entry point.
The big funds only care about making their quarter or making their year. They don't invest for the long term prospects. Their short sightedness can be a great opportunity for a long term investor. Just like with CELG. Their new drug didn't grow as much as the funds wanted. Now its being totally left out. They don't care that CELG could have a new 7B drug for crohn's disease 3 years from now.
NXPI is being trade on the Euro. When it is up, NXPI outperforms and when its down, NXPI underperforms. Silly really, but that's what the funds are doing.
Apple doesn't make any products they just design and sell them. Foxconn makes apple's products. I don't think Apple even wants to be in that game.
I call him by his name Mike. What does it matter what his ID says. I never changed my ID even though I spend most my time with growth stocks lol.
Ya, but if you listened to them and bought when the stock was in the 90's after earnings, you would have a very nice gain right now.
I don't listen to any of those services. I was just saying last week to a friend. Wouldn't be nice if I could just express my opinion about a stock and it went up or down 10% like Einhorn. You don't even have to be right when people are foolish enough to listen to you lol.