Kevin_in_GA
4,599 posts
msg #130482
- Ignore Kevin_in_GA |
8/18/2016 9:43:55 PM
REN trading at $17.30 after hours. I managed this trade poorly, but increased my positions twice to an average of $17.56 (I shorted another 700 shares this morning at $19.50). Looks like I'll survive this one but not in any way that makes me feel proud.
I agree that this stock has no right to be trading at its current valuation - I think there will be a correction pretty soon that will bring it back down into the low teens. I'll be putting in a trailing stop on this one tomorrow and hopefully not get out too early (another challenge for me).
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Eman93
4,750 posts
msg #130483
- Ignore Eman93 |
8/18/2016 11:04:04 PM
My take on the REN trade forget about the value. First off I believe the market works in extremes, it is constantly going from oversold to overbought, where people find value and others don't. That's why mean reverting strategies work, although they are very slow and painful, not what I like to do.
Second REN just went through a 1 for 5 reverse split, went from 225 million shares to 45 million shares. That soaked up allot of supply. If you think of it purely as supply and demand, you can see demand is overwhelming supply at the moment.
3rd ETF's and other indexes are moving up (buying) everything in the sector, oil and energy are ripping higher, REN had lots of shorts for the all the reasons presented, but overall sector and market is ripping and taking REN with it. It is squeezing out all the shorts. Hence a parabolic move. (note to self, look for weakest stocks in a strong sector and buy the dips) LOL
http://shortsqueeze.com/?symbol=ren&submit=Short+Quote%99
You have 59% owned by Institutions and 14% owned by insiders.
So that's 73% of 45 mill shares, that leaves only 12.15 million shares left. Not much so it dosent take a lot of buying to push price through the stops of the shorts.
If you truly think its going bankrupt, as price rips you should be happy!! Its only a matter of time. The thing about trading is you need to believe completely in what you are doing is right, this is very hard because we all have been wrong so much as we learn to trade.
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Eman93
4,750 posts
msg #130484
- Ignore Eman93 |
8/18/2016 11:07:42 PM
Kevin,
What other site were you using for backtesting?
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Kevin_in_GA
4,599 posts
msg #130488
- Ignore Kevin_in_GA |
8/19/2016 9:15:09 AM
I use Stratasearch exclusively now for system development and backtesting. The other system I have used previously (back a number of years now) was Investor/RT by Linnsoft (www.linnsoft.com) . Not quite as good backtesting capabilities but can run using intraday data (SS does not). Does lots of other cool stuff and has really good charting.
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BarTune1
441 posts
msg #130489
- Ignore BarTune1 |
8/19/2016 9:34:07 AM
All very good points Eman.
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johnpaulca
12,036 posts
msg #130490
- Ignore johnpaulca |
8/19/2016 9:53:21 AM
johnpaulca
9,973 posts
msg #130479
- Edit message 8/18/2016 4:10:27 PM
PFE...long 4000 shares at $35.10.
-Pullback below BB40 and then consolidated for about 9 days, lots of buyers sitting here. Holding overnight with stop at $34.68
********************************************************************************************************************************
out $34.98....took a $490 loss including com.
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Kevin_in_GA
4,599 posts
msg #130494
- Ignore Kevin_in_GA |
8/19/2016 11:49:02 AM
Probably should have taken REN off the table at 16.75 ... still holding.
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johnpaulca
12,036 posts
msg #130495
- Ignore johnpaulca |
8/19/2016 12:13:45 PM
Kevin_in_GA
3,656 posts
msg #130494
- Ignore Kevin_in_GA 8/19/2016 11:49:02 AM
Probably should have taken REN off the table at 16.75 ... still holding.
********************************************************************************************
$16.71 is support(BB125) on 27 min timeframe, needs to break this. Resis(BB40) is just above at $17.83. Daily oversold, you will get a retracement.
$17.36...is where the battle is taking place today
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johnpaulca
12,036 posts
msg #130519
- Ignore johnpaulca |
8/21/2016 11:13:27 PM
paper trade: trying to swing the very bottom...
VRTU($21.35)....long for an oversold bounce...target $22.40
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johnpaulca
12,036 posts
msg #130532
- Ignore johnpaulca |
8/23/2016 10:33:57 AM
johnpaulca
9,976 posts
msg #130519 8/21/2016 11:13:27 PM
paper trade: trying to swing the very bottom...
VRTU($21.35)....long for an oversold bounce...target $22.40
***********************************************************************************
hit price target at $22.40
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