Seeking Alpha
  • Derek Drayer
    Bought NVDA for an earnings trade. Thoughts? IBM and INTC give me hope for the PCRFY.OB market...
    11/10/11
    Reply (37)
    • Trader14: Guessing earnings reaction is not a very solid long term strategy, too little control.
      11/10/11
    • John Rayhall: I think it's very risky think their last quarter was better but they are stil hot and cold when it comes to earnings.
      11/10/11
    • Derek Drayer: Control isn't exactly an easy thing to find in this market!
      11/10/11
    • John Rayhall: Ya true but earnings in this psycho market are always dicey.
      11/10/11
    • 0ZJ: I'm stuck underwater on some NVDA right now. Anticipated being up a few percent at this point. Probably drop half and gamble the rest.
      11/10/11
    • Trader14: 0JZ, I am impressed by your ability to cut losses and avoid the urges to truly roll the dice, lessons most on here need to learn.
      11/10/11
    • Derek Drayer: I may do the same if we get any kind of run in the last hour.
      11/10/11
    • 0ZJ: Trader14: Your sarcasm cuts like a knife!
      11/10/11
    • John Rayhall: I actually don't think that he was being sarcastic.
      11/10/11
    • 0ZJ: I'm not a "trader". If I were to try to maintain stops in the style of one I'd certainly go broke.
      11/10/11
    • John Rayhall: Ya I know what you mean of course stops willbe hit in this market with all the wild swings
      11/10/11
    • Trader14: Oh man I wasn't being sarcastic, sorry if it seemed like it.
      11/10/11
    • 0ZJ: I like NVDA long term, but I'm generally against holding into earnings. That's where my thought about half comes from. Buy if it falls...
      11/10/11
    • 0ZJ: ...be happy with half if it rises. It's to where I'd typically have a stop, I feel like I have to take the past 2 days into consideration.
      11/10/11
    • 0ZJ: Historically, I would have benefited greatly from more patience in situations where I've been both up and down.
      11/10/11
    • Derek Drayer: He may not have been sarcastic, but this strategy is just as good as any other in Vegas! Sometimes it works, sometimes it doesn't...
      11/10/11
    • 0ZJ: Also, since I'm already writing a diary here: I think my real failure here was not reducing when I was solidly green on it last week...
      11/10/11
    • 0ZJ: ...that was the plan, but I wasn't decisive (got greedy/lazy) and now have to try and play from a bad position.
      11/10/11
    • 0ZJ: John Rayhall: Since the beginning of Oct I've been trying to practice more sensible risk management. Letting the volatility of a stock...
      11/10/11
    • 0ZJ: ...and my acceptable loss dictate the position size to avoid getting stopped out intraday as I'm choosing for longer term.
      11/10/11
    • 0ZJ: Probably laughable to some of you that this was a revelation to me...
      11/10/11
    • John Rayhall: I agree with your stance you have to decide how much you're willing to lose on a trade. Last few monhs have been rough lol
      11/10/11
    • Trader14: I always recommend trading "backwards" focus on where you don't think a stock is going to find an entry you can stop effectively.
      11/10/11
    • Trader14: Everyone is always focused on where they think or want a stock to go, if you instead focus on where it's not going...
      11/10/11
    • Trader14: It's much easier to then cut loss when it goes where you didn't think it would.
      11/10/11
    • 0ZJ: Trader14: I'm not sure I follow you? Statistically, I've actually been pretty good at choosing entries, very close to intraday/week...
      11/10/11
    • 0ZJ: ...bottoms frequently. It's exits that I fail miserably at. I tend to hold way to long and let winners deteriorate. I've been thinking I...
      11/10/11
    • 0ZJ: ...should fine a way to look at exits in inverse so I can pick them like an entry. Hah.
      11/10/11
    • 0ZJ: Beat: Too bad I dumped half earlier. No regrets. The AH pop is enough to put me nicely green on the position in spite of the dump.
      11/10/11
    • Derek Drayer: There ya go! I bought 2k shares at 14.40 today and sold .75 above, that'll cover a Veterans Day steak dinner!
      11/10/11
    • 0ZJ: Derek: Congrats, but by my standards that's an awful lot of money to risk for a chance at 5% or 10-20% down.
      11/10/11
    • Trader14: congrats on NVDA, use stops to follow up your winners but really the key is the loss control doesn't take big gains to make up small losses
      11/10/11
    • 0ZJ: Sold off mine as well. Would like to keep it but I need free cash badly at the moment. One bright spot on a few ugly days for me.
      11/10/11
    • John Rayhall: Good job guys :)
      11/10/11
    • Derek Drayer: Same here, I am sitting cash heavy after this and will only daytrade for awhile...
      11/10/11
    • Funkengruven: i HAVE HOPES FOR intc
      11/10/11
    • Funkengruven: I think PCRFY.OB mkt outside of USA will continue to grow. Waiting on another dip from INTC.
      11/10/11
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