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

From: Tom K.
Sent on: Monday, May 4, 2009 6:10 PM
depends on the items. some don't trade extended hours but I sold some F this morning on a limit order. Kind of interesting, it was like a magnet and started trading in the direction of my limit price and then went back down.
 
where I trade, OTC, prefrds, and options don't trade extended hours.
 
 
 
 
 
 
----- Original Message -----
From: Siegfried
Sent: Monday, May 04,[masked]:53 PM
Subject: RE: [ibd-2] Where are those cups and handles?

Jeremy!

Thanks! Sounds like good advice.

As I recall, limit orders place for after (or before) hours trading have no effect during normal trading. Likewise, limit orders for normal trading have no effect for before hours trading. Can anyone confirm this?

If I set a limit order in after hours trading, would it be good for before hours trading the next morning? I think so.

As Ken Shreve said recently, there is a lot of activity before I can get any quotes at investors.com. Are there any ways to get graphs or charts of before hours trading for free? I?m trying to reestablish an account at the brokerage ?Banc of America? just to be able to get plots of the prices. According to Scottrade.com and TDAmeriatrade.com help desks, they do not provide such plots.

Now what would have happened if I had had the foresight to place a limit order Wed 4/29 15:59 EDT for GMRC at 59. Would it have fired the next morning at 59?  

I?ve been studying the IBD 100 and ?NYSE stocks in the news? and ?NASDAQ stocks in the news? every night looking for cups and handles. Is that what other ibd-meetup members are doing?

Thanks,

Siegfried


From: [address removed] [mailto:[address removed]] On Behalf Of Jeremy Peery
Sent: Monday, May 04,[masked]:29 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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