MOVI - doji & might be worth adding to watchlist

[Panthalis]

If (and that's a big if) I'm reading the charts right, MOVI just formed a doji today. It has closed above its MA for the 8 days...

http://stockcharts.com/h-sc/ui?s=movi

[discrat]

Ha Pant,
Not so sure thats a reversal morning Doji !! It seems like it has to be in a distinctive downward trend to constitute a reversal morning Doji. It looks like that stock is in a sideways trend.
Maybe I am wrong....JMHO

[Panthalis]

Last I mentioned this was around $2.20 per share, today it went up nicely due to a surprise in it's forecasted earnings. could be the beginning of a turnaround. Nice volume at 2.2mil.

One word of warning they are delaying their 3Q results so it could bite them in the butt. That being said they have brought in specialists to get them sorted out and start churning a decent profit again (business model isn't great, but pps is still low IMO).

[Panthalis]

Well boys and girls, hope you got in when I brought this up. It closed at 4.04 today (intraday was somewhere around the 4.34 mark). But a 15% gain in one day is not too bad and hey...if you got in when I mentioned it you could have almost doubled your money.

[bahroor]

Great pick!

and today it closed with an upsidedown hammer in the overbought area, so I would sell soon (or tighten stop). That's just me though, nice work.

[Luc1Grunt]

It's on the short list.

[Panthalis]

Yeah Im getting out of it tomorrow. Im not a big lover of stocks the have a 75 degree angle on their price. I don't know how to short stocks yet otherwise I would be getting in on it from that side.

[Luc1Grunt]

Who's your broker and do you have a margin account?

[bahroor]

eh, shorting isn't for everybody. I have a margin as well but don't like to short, I don't think I'm that good, even though I've made some nice paper short trades.
I just think you need to master long before even thinking about shorting. JMHO!!

[Panthalis]

Who's your broker and do you have a margin account?

Etrade is my broker and I don't have the ability to do margin trades (apparently I need to sign up for it). Not sure of the positive & negatives of adding this capability to my account, unless you can enlighten me. I know nothing about margin trading...sorry.

[Luc1Grunt]

Etrade is my broker and I don't have the ability to do margin trades (apparently I need to sign up for it). Not sure of the positive & negatives of adding this capability to my account, unless you can enlighten me. I know nothing about margin trading...sorry.


Based on your response (no offense), spend your time continuing your trading/investing education. Margin accounts are not going anywhere and short opportunities will be there when you are ready.

Margin also gives you leverage, so many can get in trouble with it quickly (look at all this money!).

If you have mastered "preservation of capital", shorting is another tool in your bag. Happy Trading.

[Panthalis]

Based on your response (no offense), spend your time continuing your trading/investing education. Margin accounts are not going anywhere and short opportunities will be there when you are ready.

Margin also gives you leverage, so many can get in trouble with it quickly (look at all this money!).

If you have mastered "preservation of capital", shorting is another tool in your bag. Happy Trading.

No offence taken, I have learned so much since I found this forum and I have a long way to go before being what I would deem competent in trading. I know the basics but still loose the plot with some trades. Until I can get to the stage where 9/10 stocks make me money I won't be anywhere near ready for shorting.

[Luc1Grunt]

9/10 stocks making you money is a pretty lofty goal over time. If you can trade a system with a win percentage of 60-70%, you have found a very good system. That's better than 2/3rds advantage.