MSPD

[Terliso]

ATML is another example of this, I bought ATML the time David made a call in the 3Fast Portfolio @ around 2.30 if i'm not mistaken.

As you can see the 13 day EMA still rising on the WEEKLY Chart... that was a very LOUD call to hold ATML

I have to put this one in my head, the most important of the 13 Day EMA is the SLOPE (it is a very simple indeed)...TRADE with THE DIRECTION OF THE SLOPE... & Hold until not turning down

[Terliso]

Another one example is NVAX... I first bought NVAX around $1.50 but then sold again too early...a mistake that I needed to learn.

You see.. NVAX weekly EMA13 still pointing up this baby will rally soon again & will beat the latest high

Again, weekly MACD-Histogram (this is an Indicator that i'm using with weekly EMA13) managed to stay @ positive side.

[eliteG]

update MSPD:

Impressive.  Holding a gain on the market and semi sell off Friday is most impressive.  Support is in place now for MSPD to continue this rise.  Lets make sure we have an exit plan if things dont go our way.

We will hold MSPD unless it closes below 3.8.

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Position: bought MSPD @ 4.28 on 4/07/2006
Order: Hold
Exit: on close below 3.8
Target: n/a
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[Loffigus]

Well, I  stopped out. 
I guess on these ones where we sell on close I should not set a stop loss.

[mexirafa]

I just got back home and saw the notification. I was also stopeed out at 3.80. .

I know the order was "sell if closes below 3.80"

Some of us cannot be in monitoring the position all day long and cannot get to it until after the close. Then we might need to set a wider stop loss with an additional instructions to sell in case we close below a certain price. Just a thought.
thanks,
rafael

[Maestro]

I just got back home and saw the notification. I was also stopeed out at 3.80. .

I know the order was "sell if closes below 3.80"

Some of us cannot be in monitoring the position all day long and cannot get to it until after the close. Then we might need to set a wider stop loss with an additional instructions to sell in case we close below a certain price. Just a thought,

Also I would prefer a standard stop recommendation rather than "hold, unless it is set to close below..." or "hold, unless it closes below..."

Wasn't 3SOF supposed to work in way that you could read the daily update in the morning, place and modify your orders and triggers as necessary, and then be free for the rest of day? That's what attracted me to 3SOF in the first place and I believe it used to be like that in the past, until eliteG joined the team.

Of the 10 open trades with stop recommendations, 3 are moderated by Ramsburg and all 3 have a standard stop recommendation. The other 7 are moderated by eliteG and they all have the "unless it is set to close below..." or "unless it closes below..." recommendation.

I do hope that G will give this some thought. If 3SOF was able to make 195% in less than a year with standard stops, it should hopefully not be necessary to complicate our trading procedures.

[Amarens]

3SOF did not have standard stops. David also used the term if it is set to close...

I've read G's instruction 'sell after close below...' as if it closes below the mentioned price they will sell in the morning.

I think that's also what he explained.

Amarens

[Maestro]

I've read G's instruction 'sell after close below...' as if it closes below the mentioned price they will sell in the morning.

I think that's also what he explained.

If there has been an explanation, I haven't seen it but I am a recent subscriber.

However, I have not yet seen a "sell after close below..." recommendation. What I have seen is "hold, unless it closes below...". You may say that this is exactly the same, but see how another member interprets it, in the XRTX thread:

stop on close is the best strategy because irratic intraday price movements can throw you out of a stock unnecessarily.

Also you can't wait until tomorrow to sell because sometimes the stock will gap down next day, then you'd have to guess if the price will come up to the gap for you to bail, or not. 

"Unless it is set to close below..." and "unless it closes below..." are not very precise recommendations and it can make quite some difference in your selling price, i.e. your loss, whether you sell at 3.48 p.m., at 3.58 p.m., or at the open the following trading day.

[Maestro]

3SOF did not have standard stops.

I am quite new here and all I know is that all of Ramsburg's currently open trades, including those he took over from David, have standard stop recommendations:

"Hold EZM with a stop @ $1.52"
"Hold GNA with a stop @ $8.80"
"Hold XING with a stop @ $8.35"

Recommendations of this type allow me to enter what Ameritrade calls a "stop market" order at the indicated price, and then I can forget about it except to update the stop when recommended.

I haven't reviewed many of David's recommendations but from what I have seen he used to post, after the close, recommendations like "sell GIGM at today's open" after a price had fallen. With such recommendation, one can enter a sell order at market, which will then be filled at the open.

[Maestro]

I've read G's instruction 'sell after close below...' as if it closes below the mentioned price they will sell in the morning.

Amarens, just now I realised that you are right. My apologies.

I now see, using MSPD as an example, that if the stock closes below 3.80 on any day, then on the following morning I should place a sell order at market, which will then be filled at the open. No need for me to sit in front of the computer and watch the price movement toward the close. And, of course, I need to read the daily updates to see if there is a recommendation to adjust the on-close stop.

[gharknes]

The chip market in general has been a mess the last few days with negative sentiment coming from some big inst's, i have lost my ass here buying some $70,000 worth of shares between MSPD and  TQNT, I didn't sell as it didn't close below $3.80.

We need some very carefull guidence right now from 3sof considering the market move in general wth semi's today. is the downtrend going to continue or will we see an end to this blood bath tomorrow

[mexirafa]

Hello,

I also misunderstood the selling procedures. My mistake!!!

Concerning MSPD, I should've had a wider stop below the 50 MA this way I would have protected my position in case of a retracement like the one we had today and G's recommendation.

I also hold a position in CNXT which had a similar retracement. My stop below the 50 MA kept my position alive. Hopefully tomorrow it will bounce back up. 

Oh well, we learn something new everyday.

[Amarens]

Aaren's, just now I realised that you are right. My apologies.

Thanks  , but I don't think I was either  .

The misunderstanding comes from before. G in the meantime changed his wording into 'unless it is set to close below...'. In case of MSPD $ 3,80. In that case I think we can differ is $ 3,82 set to close below... 3SOF decided not and kept MSPD so did I. Today we'll know whether that was a good decision 

G used to word instructions also as 'unless it closes below...' That meant selling the next day at the open. That's not used anymore.

Anyway it's hard to give instructions when it's so close to a critical price. A stop (which Ramsburg indeed uses. David hardly ever did in the past) is clear, but can have you being stopped out during the day when you did not want to based on the close. Not being able to watch 15 min. before the close is hard with these instructions. Maybe 3SOF together with all of us can think of a solution 

G, maybe 3SOF can answer how you look at "set to close below..." Sometimes it just bounces down in the last minute and one can't sell anymore. What is your trigger. This might help some of us.

Maestro, great trading.

Amarens

[eliteG]

Hey guys.. I've been reading this but I'm confused as to where the confusion is?  We have a: 

We will hold MSPD unless it closes below 3.8.

This condition was not fulfilled?  The only way to evaluate this condition is after market close.. the idea would be to sell the next morning  but we would always update our order if we are selling first anyway.. so this sell condition is really <<hold but evaluate a sell on close data>>.

Of course not everyone follows this and feels safer with a stop.  Thats ok but we trade the way we plan    I hope this answers your questions.  We do not set a <<sell if set to close>> anymore.. so no issue there.

[Amarens]

G,

Confusion comes from you email instruction letter. I just found out. I was sure I read what you just said but that is on the thread. In the email letter (also one from today) it says:

MSPD - HOLD, unless it is set to close below $3.80

That's where the confusion is from...wording needs to be changed there still. I knew it meant selling the next day b/c of another thread where we had this confusion before.

Hope this helps 

Amarens