Stock Trading Predictions & Technical Analysis: MGM & AUY

Tuesday, October 6, 2009

MGM & AUY - Quick updates

MGM - BUY

MGM is now confirmed to be a BUY. MGM has broken through its down trend.

AUY - BUY

AUY is now confirmed to be a BUY, after breaking through key resistance at $11.25. Once AUY goes over $11.50, it will be a STRONG BUY.

6 comments:

traderOctober 6, 2009 at 1:31 PM
What is your opinion on RF..
whats wrong with it...it is going down even if the market is up by 200+ points in last 2 days
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YoelOctober 6, 2009 at 1:54 PM
RF is still in a down trend and has yet to break out of it. RF needs to go to $6.25-$6.50 to give us a BUY signal.
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mycOctober 6, 2009 at 6:40 PM
hi,
what is your opinion on ARNA...
I bought it at 4.55 in mid Sept......
Since that, down down ...and little up
I am at a loss... :(

thanks
rgds
L
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YoelOctober 6, 2009 at 7:18 PM
ARNA has been in a strong down trend with 10 straight down days. ARNA had given a SELL signal since it peaked around $5.40, we then got 2 other Sell signals when it crossed down its 200 day and 50 day moving averages . Finally today we have a bullish signal, and a sign that ARNA has bottommed with a three inside up formation. Also ARNA has closed back over its 200 day MA. seeing ARNA remain above its 200 day MA tomorrow at over $4.20 will give us a BUY signal. I therefore suggest you HOLD ARNA in the event where it remains aboce its 200 day MA. If it falls back below its 200 day MA or even hit lower low, just SELL. I strongly suggest also to always have a stop loss of -7.00% to -8.00% set to protect yourself.
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UnknownOctober 7, 2009 at 3:47 PM
Yoel, Great work, great role modeling for us. What are your thoughts on STEC ? I bought at $31 and things dont seem to be looking good.
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YoelOctober 7, 2009 at 4:27 PM
STEC has been in strong down trend since mid-September, and even accelerated when it had a huge break out downwards crossing below its 50 day MA. We have been getting connsecutive SELL signals. STEC is a good short sale candidate, and if it continues lower it shouldn't find support until $22, $24, and $26 where it has recently bounced back up from. As things stand right now STEC will not give us a BUY signal until it breaks this downward trend, and to do so it needs to close at least over $32 and $34. I would stay away from STEC on the long side. If you were to follow my trading strategy "Y-Swing" or "Y-Swing 2.0", I would sell my stock the moment I'm down -7.00% no matter what I expect to happen in the future. The fact is that you are down, and you probably made the wrong decision to take a long position with STEC. It is hard to accept for someone that they are wrong or made a mistake, but it's not worth taking the risk of taking a higher loss, that could really hurt you. You should always have a stop loss order set at -7.00% or -8.00% of your entry price. Before thinking of making gains, you should concentrate on cutting your losses and hold on to your winners rather than the opposite. It takes time to build a discipline, and usually about 3 years to actually be disciplined towards taking losses. The reason you should have triggers (stop loss orders), is because if you try to do it manually with a market order, you will most likely very tempted to wait and see if it bounces back up. You should never hold on to losing stocks as you will most likely find yourself into big losses with stocks that you will be holding on for years providing no returns, and if you did make decent returns in the past they will all be lost because of you held on to a losing stock.
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TECHNICAL INDICATORS

BUY SIGNAL: Indicates the possibility of the start of a new up trend or the continuation of the current up trend. This signal may be often given in the early stages of a potential new up trend that was preceded by a down or sideways trend. Such signals do not always succeed and may fail at time.

BUY: Indicates that the current up trend is already in motion and a BUY SIGNAL was already given earlier. A BUY does not necessarily indicate that the stock will continue higher from here, but simply that the stock is trending up. The further into the trend you decide to take a long position, the more risk you have of seeing it reverse back down sooner rather than later.

STRONG BUY SIGNAL: Indicates a stronger, more significant and reliable signal than a BUY SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG BUY: Indicates that the current up trend is already in motion and that STRONG BUY SIGNAL was already given.

SELL SIGNAL: Indicates the possibility of the start of a new down trend or the continuation of the current down trend. This signal may be often given in the early stages of a potential new down trend that was preceded by an up or sideways trend. Such signals do not always succeed and may fail at time.

SELL: Indicates that the current down trend is already in motion and a SELL SIGNAL was already given earlier. A SELL does not necessarily indicate that the stock will continue lower from here, but simply that the stock is trending down. The further into the trend you decide to sell a position, the more risk you have of seeing it reverse back up.

STRONG SELL SIGNAL: Indicates a stronger, more significant and reliable signal than a SELL SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG SELL: Indicates that the current down trend is already in motion and that STRONG SELL SIGNAL was already given.

HOLD: Indicates that traders who already hold this stock, should hold on as long as the trend persists. This signal is usually given during an up trend for which it would be considered too risky to take a long position at this point.

STRONG HOLD: Indicates that the current trend has been in motion for a while and rarely deviated away from the trend. Although the stock may continue higher, there may not be enough potential up side to trigger a BUY SIGNAL. This type of indicator usually means that the stock has very strong support levels which may have been tested but not broken.

WAIT: Usually given during a sideways trend for which we are waiting for a move that would trigger a BUY SIGNAL or SELL SIGNAL. This could also indicate uncertainty and the risk that would be taken if you were to take a long position at the current level. Taking a long position after giving a WAIT indicator is considered a gamble.