MGP seems to be taking a downturn, and are getting too close for comfort to my stop loss. Results are out on Friday (23rd) Should I stay or should I go...? Any imput would be appreciated. Been looking at ADVFN and sells are up over the buys, but it's close. Other BB's express the opinion that this is the mm playing games before the bounce prior to results.
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On the +ve side, the trend is showing higher highs etc. The present retracement is still (just) above the last peak in the trend.
On the -ve side, several indicator trends have broken to the downside. Also volume has been diminishing since the start of the trend. MM's can't alter the volume figures.
Depends how long you want to hold the co., are the fundi's good etc
In todays climate, I'm happy to sell at a profit. Results make me nervous, I'd rather sell with a profit than risk being caught. You can always buy back in.
Sorry, no black and white answer.
On the -ve side, several indicator trends have broken to the downside. Also volume has been diminishing since the start of the trend. MM's can't alter the volume figures.
Depends how long you want to hold the co., are the fundi's good etc
In todays climate, I'm happy to sell at a profit. Results make me nervous, I'd rather sell with a profit than risk being caught. You can always buy back in.
Sorry, no black and white answer.
I make it closed below rising trend line and other indicators show broken up trend too. Cigar's advice is valid- in todays market, if you're in profit, or close to stop loss, results could be damaging, even if reasonable......
The final choice has to be yours.
[Edited by ChartMan on 19-02-2001 at 03:26 PM]
The final choice has to be yours.
[Edited by ChartMan on 19-02-2001 at 03:26 PM]
Welcome!!
Rogue, for what its worth I make a point of NEVER holding a stock at the time of Results. Invariably any good news is already priced in with profit taking to follow.
However MGP appears to have made a consistent pre-tax loss for the last 5 years although revenues have increased significantly and there is of course always a chance that sooner or later they will move into profit.
If I were sweet on the fundies of this company I would probably hold in anticipation of a profit to resurrect investor confidence , however you know the rules:- Stick rigidly to your Stop Loss. If posting a profit then there is every chance the price will begin to head north :- Confirm the trend, join the trend and you are likely to recover ( minimised ) losses. If posting another loss should confirm the stop loss strategy.
Its a funny old game and the decision must be yours.
Good Luck
Cookie
Rogue, for what its worth I make a point of NEVER holding a stock at the time of Results. Invariably any good news is already priced in with profit taking to follow.
However MGP appears to have made a consistent pre-tax loss for the last 5 years although revenues have increased significantly and there is of course always a chance that sooner or later they will move into profit.
If I were sweet on the fundies of this company I would probably hold in anticipation of a profit to resurrect investor confidence , however you know the rules:- Stick rigidly to your Stop Loss. If posting a profit then there is every chance the price will begin to head north :- Confirm the trend, join the trend and you are likely to recover ( minimised ) losses. If posting another loss should confirm the stop loss strategy.
Its a funny old game and the decision must be yours.
Good Luck
Cookie
Cookie
Thanks for the advise. I am fairly sure I messed up on this one. I'm totally new to this (this is the the 3rd share I've ever bought). Bit embarrassed to let on at what I bought mgp at, but guess I'll put this one down to experience (or lack of it). Thanks
Thanks for the advise. I am fairly sure I messed up on this one. I'm totally new to this (this is the the 3rd share I've ever bought). Bit embarrassed to let on at what I bought mgp at, but guess I'll put this one down to experience (or lack of it). Thanks
Rogue....You may have a red face on this one, but be assured we have all done the same thing - and still do from time to time. There is no better teacher than losing your money. The secret is make sure you dont get wiped out first. At the risk of boring long standing members, I will repeat, Money Management is the secret of making money on the Markets. In other words minimise your losses by applying strict STOP LOSSES, and if they are broken get the hell out of there. For example, I took a punt on Spirent yesterday at 450, went out for an hour and saw they had gone from plus to minus 15 so got out pronto. They finished the day -17. Today they are down another 11 at the time of writing this. So I trust I make the point with this real life example.
So remember, CUT LOSSES, CUT LOSSES, CUT LOSSES.
Best wishes
John
So remember, CUT LOSSES, CUT LOSSES, CUT LOSSES.
Best wishes
John
Uncle John
What a day, I tried to get out og MGP yesterday afternoon, but connectFree (my ISP) was having a few problems (they are are usually very good so could have been an omen...) Anyway, thanks for the input, I got out today at 4:28pm (just before lse closed). I watched the price not move an inch during the day, and then sold. I decided to cut losses, it was more than I could afford to loose. This would have been gamble, affecting my capital to use for future trading. Even if the results were good, as you say, that dosn't mean the price will rise (look at ARM as a clasic example of that). I can afford to loose 10 -15% but not the lot.
Thanks once again
What a day, I tried to get out og MGP yesterday afternoon, but connectFree (my ISP) was having a few problems (they are are usually very good so could have been an omen...) Anyway, thanks for the input, I got out today at 4:28pm (just before lse closed). I watched the price not move an inch during the day, and then sold. I decided to cut losses, it was more than I could afford to loose. This would have been gamble, affecting my capital to use for future trading. Even if the results were good, as you say, that dosn't mean the price will rise (look at ARM as a clasic example of that). I can afford to loose 10 -15% but not the lot.
Thanks once again
Well done Rogue your actions were spot on - STOP LOSS!!!
Posting yet another loss today - price loses 30% in early trading.
You will get the best possible unbiased advice here. Beware other BB's which are full of rampers and de-rampers.
Good Luck
Cookie
Posting yet another loss today - price loses 30% in early trading.
You will get the best possible unbiased advice here. Beware other BB's which are full of rampers and de-rampers.
Good Luck
Cookie
Yeeeee Haaa
THANK YOU THANK YOU THANK YOU
Your advise certainly paid off. The other BB's also seem to have a lot of point scorers on them to.
Onward and upward my friends, once I decide what to get into next that is. I think oil stocks this time, I'm a little shy of TMT's at the moment.
Thanks once again, for teaching me the ways of righteousness.
PS: how do you add those cool animations? If I knew how, I'd have one toasting a drink to you all.
THANK YOU THANK YOU THANK YOU
Your advise certainly paid off. The other BB's also seem to have a lot of point scorers on them to.
Onward and upward my friends, once I decide what to get into next that is. I think oil stocks this time, I'm a little shy of TMT's at the moment.
Thanks once again, for teaching me the ways of righteousness.
PS: how do you add those cool animations? If I knew how, I'd have one toasting a drink to you all.
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