steel stocks taking a pounding

by Propagandhi711 Tue Apr 02, 2013 10:25 am

there's all this gloom and doom about oversupply of steel due to chinese manufacturers, euro depression, high levels of debt that steel companies are holding etc and it's killing the stocks...they're at their lowest in three plus years. I just bought 1.5k X and 2k MT and holding tight. help me jesus, help me jewish god, help me allah

by Propagandhi711 Wed Apr 03, 2013 2:20 pm

picked up 1k X @17. holding onto dear nuts tightly

by nevada Wed Apr 03, 2013 5:30 pm

Good luck man! I hope both of them bounce hard for you.

by Propagandhi711 Wed Apr 03, 2013 6:44 pm

nevada wrote:Good luck man! I hope both of them bounce hard for you.

or die from catching the falling knives. either way.

by Propagandhi711 Wed Apr 10, 2013 10:51 am

yeehawww.....up 15% of DDD as of today. getting greedy now! want to add to position on pullback!

up 3% of X and breakeven on MT

by Propagandhi711 Mon Apr 22, 2013 11:03 am

picked up 500 X @15.90 and 500 DDD @31.90. have a buy for 1000 MT @11. there's something really wrong with valuations when companies are trading at less than 40% of their book.

this mining stock, CLF (cliff natural resources) been taking a pounding and selling at near-2009 financial crisis lows around 16-17...am going to take a small position if it hits 16 and see what it does

by nevada Mon Apr 22, 2013 12:36 pm

With mining stocks there seems to be a fear that their cost of mining is going to exceed the price of the metal itself.

by Propagandhi711 Mon Apr 22, 2013 12:43 pm

well as long as ppl want more and more cars to drive, more and more buildings to live in, they need that iron and copper to be mined. cant get away from it. CLF is outrageously cheap but there must be a good reason in the short term.

OT, these natural resources are badly out of favor in some cases, which doesn't bode well for the bull market in general. you cant have industrials, natural resources and commodities going down while the overall market keeps making new highs. that, along with worsening market internals is an indicator of bullmarket abt to correct 20% easily.

by Propagandhi711 Thu Apr 25, 2013 10:40 am

muaahahaha..I mean damn wish I picked up more X at 16....hope it comes back down so I can pickup another 1k. easy runup to 22-23 imo.

DDD is doing good as well. it's technicals look nicely bullish with golden triangle forming between 200 dma and 50 dma crossing over. will hold till 42 or so atleast if not longer.

this bottom fishing is fun as long as it works, I guess.

by Propagandhi711 Tue Apr 30, 2013 11:08 am

DDD kicking ass! up 5% today after earnings. all indications are it'll run upto 42 in near term. problem for me is where to set the stop loss - typical stop loss of 8% does not work for MO stocks...entry is easy, exit is very very tricky.

relief is X hasn't dumped too much on horrendous earnings. action like this confirms that it's building a base at 17. any positive news even if it isn't really material to earnings will cause a panic short covering. good to accumulate IMO

by Propagandhi711 Tue Apr 30, 2013 9:28 pm

9% return in 20 odd days. take the profits and run or get greedy?? thats the question, jimmy

by b_A Tue Apr 30, 2013 10:25 pm

Propagandhi711 wrote:DDD kicking ass! up 5% today after earnings. all indications are it'll run upto 42 in near term. problem for me is where to set the stop loss - typical stop loss of 8% does not work for MO stocks...entry is easy, exit is very very tricky.

Are you familiar with volatility based stops? They use a multiple of ATR as a trailing stop.
The obvious stop is near 35 currently.
If I were you , I would sell a third around 40 , another third around 45 and the rest if it reaches 48.

by Propagandhi711 Wed May 01, 2013 8:56 am

b_A wrote:
Propagandhi711 wrote:DDD kicking ass! up 5% today after earnings. all indications are it'll run upto 42 in near term. problem for me is where to set the stop loss - typical stop loss of 8% does not work for MO stocks...entry is easy, exit is very very tricky.

Are you familiar with volatility based stops? They use a multiple of ATR as a trailing stop.
The obvious stop is near 35 currently.
If I were you , I would sell a third around 40 , another third around 45 and the rest if it reaches 48.

didnt know abt volatility based stops but looked into them. looks like the math behind is complicated and one needs software to calculate it. I'd normally sell into rally but this post earnings strength is puzzling. thinking it has longer to run. agree with overall stop-sell at 35..

by Propagandhi711 Mon May 06, 2013 10:09 am

ddd hit my first target of 42 already..now the dilemma of hold/sell...pure technicals say dont sell but discipline says sell. good problem to have, but not easy decision, nevertheless. X doing ok - abt 9% return so far. should sell it and buy back lower when summer selling hits but greed winning over and saying sell at 21

by nevada Mon May 06, 2013 10:47 pm

COngrats man! Eagerly waiting for your next picks Smile

by Propagandhi711 Wed May 08, 2013 6:06 pm

nevada wrote:COngrats man! Eagerly waiting for your next picks

thanks. this is crazy...whatever happened to sell in may and go away? just today DDD was going to dilute it's float with 250 million USD worth of shares issuance to fund some acquisitions and it takes a huge dump on the news, down 6%...in the last half hour it recovered like crazy and ended up 3%. feels like shorts covering, with that juicy 33% short interest they have going on it. don't want to sell a rocket at this time but still praying to murugan and achuthan hoping the run continues. 52wk high is close now, within striking distance so the technical looks strong although it needs to backfill some of the gains. like I said, I dont know where to set stops for this bitch so letting it ride.

same with X...it's looking good, with 16.5% gain. holding onto it so I can sell at 22-23.

MT is still down slightly from my avg price, but holding on. it's day will come once +ve news start coming out of europe..will add on weakness below 11.50

by Propagandhi711 Tue May 14, 2013 10:19 am

this DDD is flying... is at 51 now wtf??? glad I didnt sell at my original 42 target and still got my 1400. all the speculative stocks are flying, NFLX, TSLA, all 3d printing stocks....feels like a bubble before summer crash but who knows. and this morning lazlo biryani guy upped his S&P target to 1900...I smell a street pump and dump underway but not selling anything just yet.

looking for a good way to play nat gas and shale...that's where the action seems to be in this market

by Idéfix Tue May 14, 2013 10:57 am

I bought TSLA at 52 just a few days ago. I am tempted to sell it now.

by Propagandhi711 Tue May 14, 2013 11:03 am

whoa@52...take profits is what I would say but exceedingly difficult to do

by Idéfix Tue May 14, 2013 11:07 am

Propagandhi711 wrote:whoa@52...take profits is what I would say but exceedingly difficult to do

Yeah, everyday with this stock seems like it can do another 10%. It is my most speculative position ever. I promised myself I would sell at 70, and buy again if it dips back to around 50, but didn't have the discipline to carry that out. I should sell today.

by Propagandhi711 Tue May 14, 2013 11:15 am

Idéfix wrote:
Propagandhi711 wrote:whoa@52...take profits is what I would say but exceedingly difficult to do
Yeah, everyday with this stock seems like it can do another 10%. It is my most speculative position ever. I promised myself I would sell at 70, and buy again if it dips back to around 50, but didn't have the discipline to carry that out. I should sell today.

speaking of speculative buys, am thinking of buying some AMD. it already jumped quite a bit but thinking there's another 50% potential still there

by Propagandhi711 Tue May 14, 2013 11:34 am

http://www.businessinsider.com/consumer-reports-gives-tesla-s-top-score-2013-5

consumer reports give tesla highest score ever awarded to an automobile.

by Idéfix Tue May 14, 2013 2:13 pm

Sold at 90, put in a buy at 60.

by Propagandhi711 Tue May 14, 2013 2:56 pm

Idéfix wrote:Sold at 90, put in a buy at 60.

good timing. looks like it's down to 84 now

by Idéfix Tue May 14, 2013 3:04 pm

I still feel that it will go up to 100 and beyond in the next couple of weeks. I sold AAPL at 435 a couple weeks ago, and it went to 450. It's my usual pattern -- leave some on the table. This will be a first if I timed the sell for the peak.

by Idéfix Tue May 14, 2013 3:09 pm

I finally did some research into DDD and put in a buy today. It executed at 48. I bought it as a long term play, hope it gives me a decent return by year-end. I should have looked into it more thoroughly a couple of months ago when you and TBT were discussing it, and bought it then at 30!

by Propagandhi711 Tue May 14, 2013 3:40 pm

Idéfix wrote:I finally did some research into DDD and put in a buy today. It executed at 48. I bought it as a long term play, hope it gives me a decent return by year-end. I should have looked into it more thoroughly a couple of months ago when you and TBT were discussing it, and bought it then at 30!

I might add some more around 39 if it comes back down...it never filled the gap

by nevada Sun May 19, 2013 3:02 pm

Your opinion on the possibility of a bounce for gold? Sentiment seems overly bearish at this time, so maybe time for an "unexpected" move higher or a deadcat bounce? Thinking FNV, RGLD, GDX etc.

by Propagandhi711 Sun May 19, 2013 4:21 pm

No man, you can't trade something that drops on bad news and no news...gold had its run and is now firmly in sell mode. I keep hearing 1100 as next stop so wouldn't trade...there are much better trading vehicles out there with strong up trends so no reason to buy trade gld

by nevada Sun May 19, 2013 10:15 pm

Propagandhi711 wrote:No man, you can't trade something that drops on bad news and no news...gold had its run and is now firmly in sell mode. I keep hearing 1100 as next stop so wouldn't trade...there are much better trading vehicles out there with strong up trends so no reason to buy trade gld

Thanks, if you see any new interesting ideas please post here.

by Propagandhi711 Thu Aug 07, 2014 9:00 am

Propagandhi711 wrote:picked up 1k X @17. holding onto dear nuts tightly

sold X@34...100% return not too shabby. fucking MT is still dead in the water but I unloaded at 15.35 so that pig can go down to 0 for all I care

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