3SOF

Quote from: Terliso on June 12, 2006, 04:27:50 PM
Everything is in place ...MRVL is getting weaker every session
though the price came down from 73.67 to 45.44 that was already over -38% blood bath.

another -20-25% beating that would be fine....

Look at that MRVL is down 15% on massive volume.....yihaaaaaaaaaaaaaaaaaaaa

Ohhh My My..... -16.50% blood is all over on MRVL...

Where are my fellow shorters? Nullzero & Catrader, don't tell me you guys got stop out

Chart 06-06-06
http://www.3stocksonfire.org/trading/index.php?topic=5928.0

Quote from: Terliso on June 06, 2006, 06:58:19 PM
I'm looking for 20% to 30% gain on this one.

wish me luck!!

Gaining over 13% so far

nope, unfortunately did not have free funds to trade this as tied into positions which hope to come back, which might never do so.  Well guess that happens when you are not such good trader.  Terlisso guess is right on again here.  That Intc news guess sure helped in this mrvl short.  good trading!

MRVL is now flirting under $40 

Quote from: Terliso on June 06, 2006, 06:58:19 PM
Ok analysis is finished... I'm looking for 20% to 30% gain on this one.

wish me luck!!

Shorted $48.77
Current price $38.95

I got stopped out Terliso . Congrats Terliso on another good short . I got stopped out at 50.35 a couple weeks ago I had about a 6% stop loss I should of had a loose stop .

Quote from: nullzero on July 14, 2006, 01:25:28 AM
I got stopped out Terliso

Sorry to hear that nullzero

Quote from: nullzero on July 14, 2006, 01:25:28 AM
Congrats Terliso on another good short

Thanks



Another down day for MRVL
Shorted $48.77
Current price $37.71

Great pick Terliso

Been reading and watching but never entered...  Curious if you have been shorting more as it drops?  Would you consider an entry short here as it broke the year low?  (PS I shorted NTRI today at 63, risky play but i hope to get $2-4 to the down side before earnings are out, thoughts?)

Do you prefer shorts that are already low, say RSI <30 as the long momentum players buy when RSI >70??

cheers Joe

Quote from: Terliso on July 14, 2006, 12:15:22 AM
Shorted $48.77
Current price $38.95

Alister,

Nice job on MRVL and on the overall market since May.  Applause.

Quote from: joet on July 14, 2006, 03:18:27 PM
Do you prefer shorts that are already low, say RSI <30 as the long momentum players buy when RSI >70??

joe,

Focus more on the chart, in terms of pattern breaks and re-tests of broken support, and use the indicators to confirm.  For instance, MACD failing below zero on a re-test of broken support.

Examples of a few good places to short, using MRVL: (see arrows)

1.  The break of the H&S Top near $61, in early March

2.  The Bear Flag rally back to the broken neckline, in April (I forgot the arrow there)

3. The breakdown of that Bear Flag

4. The break of the H&S-like Top in the mid-53.00s

5. The re-test of that break, that gapped above the neckline, but failed at the declining 50DMA

6. THE PERFECT SHORT (if there is such a thing) was June 19, right below the broken neckline in the mid-53.00, and right at the declining 50DMA (dotted green line) again.

It takes some discipline to follow the stock and look for those opportunities, but they're good risk:reward trades if you pick your spot, and you're trading breaks of support, and re-tests of broken support, so the trade is favored to win. 

"Former support should be resistance." It was in a few of those examples.

If we jump in and short "in the middle of No Man's Land," we've not only given away a lot of profit, it's very difficult to figure out a logical stop that isn't too much percentage risk.

Shorting MRVL here is "shorting into the hole," meaning that a lot of profit already has been made on the downside, and our chances of success are diminished. 

Traders like Alister, who have a big gain on the short side, begin to think about taking profits, and on a rally, new buyers come in, as well.   We could become victims of a vicious short squeeze in the stock.

While MRVL looks lousy and easily could continue straight down here, I tend to leave these alone.  I've missed the trade. 

Just my opinion, of course.  Good luck!

Quote from: joet on July 14, 2006, 03:18:27 PM
Great pick Terliso

Thanks Joe

Quote from: joet on July 14, 2006, 03:18:27 PM
Do you prefer shorts that are already low, say RSI <30 as the long momentum players buy when RSI >70??

I don't pay attention much to that indicator it gives me premature buying & selling point

I'm using MACD Histogram & MACD Lines & combining it with moving averages 5,9,50,200 (SMA) & 200(EMA), force index & weekly chart

Quote from: Melf Elf on July 14, 2006, 04:06:31 PM
Nice job on MRVL and on the overall market since May.  Applause.

I appreciate that melf-elf
& a perfect advice right there for Joe Applause.

Quote from: Terliso on June 27, 2006, 01:34:16 PM
I'll take profit just above $35.00... 

Quote from: Terliso on June 06, 2006, 06:58:19 PM
I'm looking for 20% to 30% gain on this one.

Shorted $48.77
Current Price $36.66
Gaining: 24.83% & i'll take it tomorrow morning

The trendline comes in for tomorrow just below $35.00

covered @ 36.25

The $34.00 target MADE today.  Great pick, Alister, and nice trade.  Applause.