GV

[Lucas Scott]

Confirmation already arrived in the form of today's higher low, and the sharp retrace of the last 2 weeks pruned the stock of dead leaves. Looking for a bounce to the $2.10 area.

[Loffigus]

If that's the case, then we got stopped out at the low of this decline.  Horray for us!

[hermanpu]

i'm with you on that Lucas. Most people who are still in are longs, the price is looking very attractive and with a nice increase in business, buyers will be coming back in. 2.30 is my target

[Loffigus]

You know, there is a good chance that GV will have another spike before it settles back down, If this is the bottom, expect an over-reaction recovery to occur next week.  Might be good for a 10-20% fast profit.   

[Loffigus]

well of course it will bounce now!!!!!!!!!

now that I have been stopped out!

Hey - I know all about it.  I usually hang on, and hang on, and finally when all hope is lost, I go ahead and press the trigger.  Then, as if everyone on Wall Street was watching me, the stock goes soaring back up.   And since I sold GV today at $1.51 (yes, the loweset possible price), it is time for it to fly again.  I see, that it is already up 10% or so since I sold.  (Ironically which is more than the total gain 3SOF made the whole time they had it, so we could all have bought today and sold at close and been better off. )  I think, I might be going insane.   

[hermanpu]

well to solve that problem, whenever the stock gets close to the stop limit, just move the limit down further. Thats what i did
I could have lost 5% at 2.20, but i'm still holding and my realized loss is 0%. Thats how i like to keep it organized in my head so i don't kill myself after a week like this. hehe

[Lucas Scott]

That's a good idea Herman. Make THEM come to YOU!

Loffigus, I instructed my broker not to buy until he saw you let go of your shares LOL jk

[berloga]

Looking at the QQQQ today (and many other, like EZM, TGB) it seems around 11:30am a heavy short squeeze was triggered along with possibly some short term inverstors returning. Notice the volume is second highest since the big down day. The shorts will have to leave soon for a short while at least to maximize their gains. A similar picture persists for SPY and DJIA actually had the highest volume today. Tells me it is the end of the heavy selling for now. The next couple of days can try and ride the train up. Anybody has additional thoughts?

[tokyopua]

Looking at the QQQQ today (and many other, like EZM, TGB) it seems around 11:30am a heavy short squeeze was triggered along with possibly some short term inverstors returning. Notice the volume is second highest since the big down day. The shorts will have to leave soon for a short while at least to maximize their gains. A similar picture persists for SPY and DJIA actually had the highest volume today. Tells me it is the end of the heavy selling for now. The next couple of days can try and ride the train up. Anybody has additional thoughts?

I think the high volume may have been more due to options expiration.

[Lucas Scott]

I wouldn't call it a short squeeze. It looks like a normal rally off an oversold situation. I was reading yesterday that the Nasdaq being down 7 days in a row was the first time that had happened since 2001. The markets were ripe for a rebound.

Do a MO'N BACK on GV on Monday and ride it for a quick 20% next week!

[tokyopua]

Absolutely guys.  This trade was mishandled and this was severly amplified by a market top.  Looking back on it(hind sight is 20/20) I would have liked to sell for the 3SOF portfolio after the 3 white candles and maybe 1/2 for 3SOV.  This stock had a severe cutback and did not respond to any support levels.  Again the market fell dramatically during this time and this could not be accounted for. 

Profit should have been protected differently but we took a risk and it did not pay off.  With 6.66% of our portfolio in this play we thought this risk might pay off.  Instead of dwelling on how this play was mishandled we should concentrate on what we can learn from this.  And so this trade going from over 90% to a small gain will make us better traders(better big portfolio traders).

The atmosphere after the market dives is not pleasant.  I am hoping this community can now concentrate on what we should do.. and not what we shouldn't have done.  This will not be the last +90% trade.

3SOF will be unveiling some new things in the near future(new and improved services).. I think you guys will be pleased. 

I sold GV too for a loss since I averaged up a little bit, but dont blame 3SOF at all.   Should I blame you guys for holding GIGM and giving me a close to 3X return on that stock?  There were members here who sold GIGM and even shorted it around $6 and its now over $9.  3SOF saw potential in GV and held it accordingly.  In all likelihood, had the market not tanked, GV would not have fallen nearly as bad.  And, if I want I can still pick it up again Monday.

So given that I think its the market as a whole that was really to blame, what I personally want to learn from all this instead is how to spot these major corrections coming, or at least identify them and act fast when they are starting? 

I had just been reading some IBD books just 2 weeks ago, and they talked about tracking the number of distribution days a market or stock has over the course of weeks or months.  I was reading this and thinking to myself at the end of last week, "wow, this seems like just what they were talking about in the book|.  Then the big drops happened, and while I didnt sell fast enough, I saved money by selling in the early AM of the -200 Dow day this week because I finally trusted what I had just been reading, in addition to hearing the news about the increased core CPI.  Honestly, without that recent reading I would have seen it down 50 points and been thinking "its been so bad, it cant get any worse, this is all factored in already".

So my question is, did anyone else slash and burn positions before the worst of the lows, and if so what made you see it coming? Or what things do others look for to spot peaks?

[berloga]

Yep, you can call it anything but it was not a small-volume rebound, but rather a strong one, especially considering it was Friday and Fridays are usually traded lighter. I do not think market has seen its low yet, but you're right, next week can bring a good rally before the next potential droop. Here is the chart for GV: it looks like EMA50 acts as a support and also the long term trend starting from the higher volume has been met these past two days and may become a support.

So, I will try to get back in GV Monday. As well as NXG, EZM, TGB and GLG.
Good luck!

[Terliso]

So my question is, did anyone else slash and burn positions before the worst of the lows, and if so what made you see it coming? Or what things do others look for to spot peaks?

1) Price Divergence --- this indicates that the bullls are getting weaker

[Terliso]

The action in NASDAQ for today is just a minor bounce, we haven't seen the low yet

[Terliso]

NASDAQ broke the 50(SMA), 200(EMA) & 200(SMA) .... As said before NASDAQ is very weak

It may bounce again next week but the downtrend will continue I believe