3SOF

Sorry Dave,
im so use to following you on your strat of selling on the break of the ascending trendline my instiincts forgot what i had read about the changed plan and told me dave was selling today  .

QuoteSFP's ascending trendline for today stands at $3.36. I think this stock will bounce if it touches that support level today. If it doesn't, if it is set to close below the ascending trendline, I'll take a small loss.

Thanks for the clarification, im happy to hear that your still onboard as well.

regards,
-fousc

Horrible day on SFP and earnings are not out yet. Volume increased a bit, but remained low. I don't want to think too much about it, if the stock is set to close below the $3.33 support I'll sell without hesitation.

SFP held $3.33 and volume increased a bit to 215,200 shares. Earnings are not out yet and candlesticks suggest at least a bounce from support will indeed happen. I will keep the plan and take a loss only if the stock is set to close below the $3.33 important support level.

SFP went down to touch support in a meaningful way, it held and then bounced back by the end of the session. A doji candlestick pattern was left on the chart, and that suggests a bottom was made. I will continue holding SFP for as long as it closes above $3.33. Still waiting for that earnings report.

Just so you don't feel you're alone here, I'm waiting with you for that earnings report 

I have te believe our waiting will be worth while!

Have a good one today!
Amarens

Quote from: Amarens on September 27, 2005, 08:50:18 AM
Just so you don't feel you're alone here, I'm waiting with you for that earnings report 

I have te believe our waiting will be worth while!

Have a good one today!
Amarens

I'm also a believer Amarens 

The company issued this press release: Salton, Inc. Reschedules Announcement of Fourth Quarter and Year-end Results for Friday, September 30, 2005

So, earnings will be out on Friday before the opening bell. I will hold until then, provided that the stock doesn't close below $3.33.

Still waiting for that earnings report tomorrow. But I do have a problem, because I won't be here tomorrow at the open, I'm flying to Paris to take my 2.5 year old to EuroDisney 

What shall I do then?

I will trust on my technical plan of selling if the stock is set to close below the $3.33 support (I will check the close in Paris) or at the technical target of $5.55 (so far away from here, but we never know with these micro caps).

With Earnings coming out tomorrow, and considering the boost up to $4+ in the run-up to earnings before they were delayed, the big question on my mind is WHERE IS THE VOLUME

Unless everyone who was gonna buy into this one bought in a couple weeks ago and has just been sitting on it waiting, like us

I am with you on this one David, and if anything, I've held for this long so I will hold for tomorrow to see what she brings, I just hoppe that the delay was for purely administrative things, as they said, and not for more fundamental reasons.

anyway, we shall see, I'll stick to your trading plan this time.  Have fun at EuroDisney

SFP has been issuing a lot of SEC filings related to loans and the delay of results. I really can't figure out if the developments are bullish or bearish and the market seems to pretty much ignore those filings.

Earnings are going to be out tomorrow before the opening bell. I really don't know if they are going to be good or bad.

So, what am I left with? Doubts? I can't have doubts when trading the markets, I must be prepared for all market developments, because in fact, anything can happen !

If we go back on this thread we can see the plan has a 42% reward and a 15% risk. So I'll stick with the plan of selling at the technical target of the breakout, which is $5.55, or take a loss if $3.33 is broken on close. But, I might have a problem with this plan, which is, the stock can close way below $3.33 and this way risk would be higher that 15%.

So I will use an intraday rule this time. I guess that if the stock prints $3.29 everything is pretty much lost, at least on my time frame. So the plan is:

1) Hold to take profits at $5.55
2) Sell if the stock breaks $3.30, even if it's just on an intraday basis.

I will let the market tell me how earnings were and what is the fundamental value of this stock, I believe in the market's judgment.

Market Pulse: Salton narrows 4Q loss to $28.8M vs $50.2M
http://biz.yahoo.com/cbsmb/050930/4c79b7b72f6b4aebbe0b9600df4dc457.html?.v=1

NEW YORK (MarketWatch) -- Salton Inc. Friday reported a fourth-quarter loss of $28.8 million, or $2.53 a share, narrower than a year-ago loss of $50.2 million, or $4.42 a share. Sales slid in the latest three months to $216.5 million from $249.7 million in the same period a year earlier. The latest results include a charge of $3 million related to intangible asset impairments. Thomson First Call doesn't publish a consensus estimate for the company's results. The Lake Forest, Ill., small appliance maker said its business and margins continue to be adversely impacted by the high cost of steel, corrugated and oil-based raw materials. Salton shares closed Thursday at $3.67, up 5.8%


Salton Reports Fourth Quarter and Year-end Results
http://biz.yahoo.com/bw/050930/305139.html?.v=1

LAKE FOREST, Ill.--(BUSINESS WIRE)--Sept. 30, 2005--Salton, Inc. (NYSE: SFP - News) announced today its fiscal results for its fourth quarter and year ended July 2, 2005. The Company reported net sales of $216.5 million for its fiscal 2005 fourth quarter compared to net sales of $249.7 million for the fiscal 2004 fourth quarter. Salton reported a loss of $28.8 million, or ($2.53) per share, versus a loss of $50.2 million, or ($4.42) per share for the same period in fiscal 2004. Net sales decreased domestically by $20.0 million as a result of uncertainty among one of our large suppliers and a few customers due to the Company's ongoing restructuring activities which impacted product availability and demand. Foreign sales declined by $13.2 million, including $2.6 million of foreign currency gains. The foreign sales were impacted by concerns surrounding the Company's restructuring activities and a general softness in regional sales.
...

David, Looks like a smooth Flight plan(SFP) for you and your family this weekend. I have a boy who turns three this weekend and he is priority one. I think your trading rule # 1 should be, take care of the home front first. Hope your weekend is everything you want it to be. Thanks for creating this site.

Good trading all!

uc.

Hope I didn't speak to soon. Yikes! Just broke your support.

uc

Yup, broke support and I'm out.

Serious disappointment on this one, as I've been holding it for a while, and didn't sell when we were up a couple of weeks ago.  Mind you, knowing the markets, it'll probably rebound back from here

Feel like I'm losing out on all my good positions lately - pulled out of HOM below $4 yesterday, and now SFP which was healthily up first thing.  Oh well, just gotta keep moving on and say goodbye to this one.  Don't particularly like the idea of holding a stock that has posted a greater loss than its market cap anyway, even with revenues of over $1 bn.

Bye Bye Mr. Foreman.

Sold SFP @ $3.30 for the 3SOF Portfolio, following David's trading plan:

Quote from: David Randolph on September 29, 2005, 08:19:49 PM
1) Hold to take profits at $5.55
2) Sell if the stock breaks $3.30, even if it's just on an intraday basis.

Oh God, I want to tell you that I never win when I go on vacations ... that's probably why I didn't take any day off for for the past 4 years or so until now. I'll just continue that way, I only know one way to succeed, and that's to work hard, because I don't have any luck, I can tell you that 

Anyway, I feel I don't need luck.

SFP was considerably up in the morning but then it sink to my stop level. Ramsburg took care of the selling, I left instructions for him, I don't know if he put an automatic stop or if he was watching the intraday of the stock.

Anyway, I followed the plan so I'm glad, now it's time to move on.

(Scottish Trader, I want to tell you a little psychological trick to deal with the wins and losses on the stock market: since pressure is high for you to be sad when you lose and happy when you  win - that's the natural response - but you need to be always equal and in control of your emotions, you must do a little psychological re-balancing.

The trick is to try to be melancholic and even a bit mad when you win and happy and looking for some laughs when you lose. That's the way for you to be always in balance and controlling your emotions considering the stock market. After some years doing this, hopefully your humor won't change even a bit because of stock market or your personal portfolio developments, nobody (possibly even yourself), won't know at dinner if you've made or lost money on that particular day !)