TT lovely thought & post IMO maybe this is an excellent post for a new thread... I wonder how many think /do that (?) I refer to the less experiences trader... I got a strictly plan regarding that ..... my trading is run like a business (paying wages - overhead - depreciation (PC change every 2-3years) and so on... at the end of the year I should have a profit that I set for (target).... I never leave my profit on the acc. for the next year but I bring it home. I always leave a % of the profit to start the new (financial) year.... that help me psychologically/mental my first trade .if I it is red that profit (written off will take the losses etc...etc...) I promised myself that the day I end up my year in the red (losing) I give up trading .... I don't see the point spending all those hours in front of the PC to lose money... I rather go out and eat & drink it rather then give it to the MM btw I am not a professional, far from it, but I know how to make few cents to improve my life (expensive wife) and past my time yes TT I agree that method, will improve one starters/plan tremendously.... I better stop here because the more I yap/mumble the less you will understand what I am trying to say but good luck to the newbie always improve improve improve
I have bids in for UVE, IRT, and also WPX, BBD that I doubt will get filled today. I bit the bullet and bought MGM a little higher than my original bid as it was showing strength against the market and gaming sector brought down by LVS. A little pull back on BAC that might provide a good buying op as it has been a steam roller this week and I expect it to go much higher. (A long in my portfolio)
I haven't read the full earings report yet RG, but besides the Macau decline, LVS had some bad numbers from the Marina Bay Sands in Singapore. Gaming and visitation is up in Vegas so they should have been good there. I will dig into it more later
With the market pull back I increased my positions in UVE , BBD, and IRT, and note UVE and IRT were up decently until the markets applied pressure. MGM has had a nice uptrend going on and with the pressure of the market and LVS disappointing it dropped slightly below the trading channel. With that I started a position. BAC and F remain strong and MPEL took a bath today from the LVS scenario. WPX is still out of reach and unless oil goes below $40 a barrel and those sweet spot entry's won't be available. For some time I have been saying AMD is a spec play but after today it is now a play. Earnings and big contract has all changed all that. It should be out the gate strong tomorrow after closing in AH over 21%. up. AMD http://stockaholics.net/threads/amd-advanced-micro-devices-inc.39/#post-3575
I followed your lead Tip on UVE and still waiting for BBD to drop where I can buy more. I wish I had bought AMD and congratulation on that call.
I also made my first purchase of UVE, thanks for the heads up on that one TT. I sold my EOG today and will wait a little bit to get back into the oil plays. I think it will drop in the next few weeks.
No problem Trenticalx and UVE looked strong again today trading ahead of the market. I would buy more if we should get a market meltdown for another good entry. Nice chart on EOG. I hear you on oil. I lost one my favorite plays with WPX and need oil drop some what below 40 to jump in again. Thanks for the grats everyone on AMD! It was definitely the best pop for me this year. As I wrote some time ago besides my position, I bought the 5.50 and 7.00 Jan 2017 calls.At the time I was the only buyer and I accounted for all the volume as far as I know. Today that changed with a increase in volume a big jump in price. I nibbled up a little more MGM as gaming was still recovering from the LVS fallout. I . I added more IRT as I as I found the support that I mentioned in that thread. BAC and VLY continue the uptrend as financials are still on the move. AMD http://stockaholics.net/threads/amd-advanced-micro-devices-inc.39/#post-3789 IRT http://stockaholics.net/threads/irt-independence-realty-trust-inc.648/#post-3735 UVE http://stockaholics.net/threads/uve-universal-insurance-holdings-inc.599/#post-3737
I plan on playing both sides of the fence with MGM. The same as I have played MPEL, BAC and a few others. On certain stocks such as these I will set aside part of my position for swing trading. Per example I sold off some MPEL when it was high above the upper BB (bollinger band) and re-bought on the pull back for considerably less. I bought the same shares back with some cash left over. The MGM shares I bought is about 30% of what I intend to buy. With earnings due on May 5h before market their is some risk here if they disappoint . The analyst's have upped their expectations from last quarter and hopefully they didn't overshoot the numbers. Friday I bought 1 cent off the LOD @ 21.95 and I will buy some more if we should get a market meltdown for a better buying op. Out of 16 analysts covering MGM Resorts (NYSE:MGM), 17 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 89% are positive. MGM Resorts has been the topic of 14 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Below is a list of MGM Resorts International (NYSE:MGM) latest ratings and price target changes. 13/04/2016 Broker: Citigroup Rating: Buy Old Target: $29.00 New Target: $32.00 Maintain More http://www.bibeypost.com/were-analysts-bearish-mgm-resorts-international-nysemgm-this-week/
Well that is not a easy call this week considering AMD sits sky high of above the upper BB as technical's say there should be a pull back and it will happen but when is the question. Going back to the close last Friday AMD not only closed up 52.29% but it did on 143,265,305 shares traded and that is more than 10 times the average volume. It also closed on the HOD. Watching Level 2 that day I never seen any major dips. Then it traded in AH only losing 3 cents on strong volume. There is no doubt there was a lot of short covering as the institutions were buying hand over foot. This pop was not just because they signed a fat contract and they expect a 15% jump in revenue. If you read behind the lines there is much more this could develop for them in China aside from the VR market where they have 83% market share.This is more of a educated guess and a gut feeling of what will take place considering what I just wrote: I think there is still fuel in the tank and I think AMD will move up between 5 and 10% or even 12.5% by weeks end depending on the market conditions. My gut feeling tells me there will be a upgrade coming in the near term and buying should be done before that. The safe way would be to wait for the trading to normalize or buy some calls when it normalizes. With that my short term target price is $4.50 which is the next resistance level (look at the chart). AMD ( A little more info) http://stockaholics.net/threads/amd-advanced-micro-devices-inc.39/#post-3852
Looking to make another tier buy on BBD and a 1st tier buy on SID just below the LOD. Regarding AMD, for those not in a 1st tier buy on a 15% to 20% drop should it get there, would put your foot in the door and save your bigger buys in case the drop intensifies. Never put your bigger funds down on the first buy under these conditions,
I took a another tier buy nibble on MGM and UVE . With a somewhat market meltdown, IRT is only down .02 and UVE is up .05 now...Very good signs as earnings approach. I got a Ist tier buy filled on SID on a 7.5% drop.
What kind of entry price would you be looking at for AMD? I see its down to $3.45 now. Thinking about hopping in.
This is what I had previously wrote: Regarding AMD, for those not in a 1st tier buy on a 15% to 20% drop should it get there, would put your foot in the door and save your bigger buys in case the drop intensifies. Never put your bigger funds down on the first buy under these conditions, Because of the 52% pop on Friday the shorts are back to recoup their losses. With that it is hard to gauge how much the pull back will be. I suggest buying on percentage drops and saving your bigger buys for the lower prices. I have not looked at the calls today but I bought the 5.50 and 7 Jan 2017 calls to give AMD time to move to higher prices.
I think Wynn is due for a short now. Recently Wynn in Macau has been pretty empty. Mainland visitors have been down quite a bit these last few weeks. Unless things change Hong Kong stock price for Wynn should drop in the coming days.
