RE: [ibd-2] Where are those cups and handles?

From: stephen
Sent on: Monday, May 4, 2009 4:06 PM

Siegfried

 

The contingent order that Jeremy suggests in “brokerese” is a “buy stop” order. Set the stop at the pivot and when the stock trades through that price it will fill at the market. You should discuss both these type of orders with your broker so you thoroughly understand how they work and their risks before you trade at other than the market.

 


From: [address removed] [mailto:[address removed]] On Behalf Of Jeremy Peery
Sent: Monday, May 04,[masked]:33 PM
To: [address removed]
Subject: RE: [ibd-2] Where are those cups and handles?

 

Consider placing a limit or contingent order at the buy point. When the price of the stock reaches the buy point, it will execute and you will be in the position. Just invest in a 50% position initially, and then if the volume proves to be heavy, you can add with 30%, and finally 20%. Once, you are partially in the position, you can place a stop order at the 7-8% mark to ensure you cut your losses if it turns against you.

 

Jeremy

 

-----Original Message-----
From: [address removed] [mailto:[address removed]] On Behalf Of Siegfried
Sent: Saturday, May 02,[masked]:17 AM
To: [address removed]
Subject: [ibd-2] Where are those cups and handles?

 

 

Congrats to Jeremy P. on GMRC! Do you still have it like both Ken and Kate advised in the Market Wrap and DSA this evening?

 

I missed GMRC! Not because I did not hear and see about it from Ken and Kate! Like many stocks, I kept looking for the cup and handle and there was never a cup and handle.

 

Sometimes when there is a cup and handle, the stocks “gap-up” the next day right past the buy point before you get a chance to buy them at 6:45AM.

 

Does anyone have any advice for me? Should I buy on heavy up volume regardless of the buy point? I kept looking at GMRC before it gapped up and saying to myself: it is too far extended beyond the buy point.

 

Thanks,

Siegfried

 

 

 

 





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