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Underexposed - Canadian Stock Journal


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Underexposed - Canadian Stock Journal

  #51 (permalink)
Prince George BC Canada
 
Experience: Advanced
Platform: IBs TWS
Broker: IB
Trading: Stocks
 
deaddog's Avatar
 
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Underexposed View Post

I am putting a limit buy order for 1500 shares @ $10.90 for the opening bell for Feb 27

Is this a stop limit order or are you willing to take a lower price at the open? Does the price have to trade at 10.90 to trigger your order?

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #52 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


deaddog View Post
Is this a stop limit order or are you willing to take a lower price at the open? Does the price have to trade at 10.90 to trigger your order?

It is a standard limit order...I have tried buy-on-stop orders in the past...this is when I believe that a stock will take off if-and-only-if a stock exceeds a resistance point. This is the only way you can set a a buy order above the asking price. I always wondered why someone would do that...I could understand this if you wanted to protect yourself if you shorted a stock....but then I thought of this application and it made sense to me to do that.

I have not been too successful using a Buy-on-stop order though. I would only do it on stocks where I did not feel confident they would pass the resistance point....and sure enough they did not so and the order timed out.

If I am pretty sure from my charts that it will pass that resistance then I will simply set a Limit order at the price I am prepared to buy at (usually half way between the last Bid/Ask).

the order, since I made it before trading hours, is not entered until the bell and I have found that TDWaterhouse will grab the stock at a lower price at the bell if it is lower than my limit order. I suppose there is risk there as I guess the stock could have plummeted and I would be getting in on a slippery slope. But I am fairly confident that I did not make such a mistake in reading my charts so I like the extra few cents of a lower price.

If I was nervous about it falling I would wait an hour or so before entering my order to confirm all is well. There is risk there too as during that time the stock could have taken off and I would be chasing it as the price climbed. By placing the order early like that then I can get in on the ride early..

There is risk any way you do it.

I have been following TCM and it seems my suspicions that that breakout was a head fake proved right.



I see it doing a negative drift to the 20day SMA over the next 5 or so days...the MACD hardly moved a muscle upward, the BBwidth has plateaued early and the Slow Sto, which often leads a trend, is trending bear. That $3.30 resistance is a tough old bird

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  #53 (permalink)
Prince George BC Canada
 
Experience: Advanced
Platform: IBs TWS
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deaddog's Avatar
 
Posts: 789 since May 2013
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Underexposed View Post

I have been following TCM and it seems my suspicions that that breakout was a head fake proved right.


I see it doing a negative drift to the 20day SMA over the next 5 or so days...the MACD hardly moved a muscle upward, the BBwidth has plateaued early and the Slow Sto, which often leads a trend, is trending bear. That $3.30 resistance is a tough old bird

You are probably right.
The trend is still intact,at least so far. I'm hanging in there until I see a close below the prior swing low.

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #54 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


deaddog View Post
You are probably right.
The trend is still intact,at least so far. I'm hanging in there until I see a close below the prior swing low.

At this point I am not saying it is a sell...rather it is a Watch if you don't hold and a Hold if you do. The rewards are there if you pass $3.30 but it seems to be a tough resistance to pass. It keeps regrouping though to try again....fingers crossed for you.

Well I seem to have timed the purchase of TD Bank [TSX:TD] right...It has just cracked the $50 resistance today on the feet of a good quarterly financial report

TD.TO - SharpCharts Workbench - StockCharts.com

LUN.TO and MEI.V are behaving now after I put limit-stop-loss orders on them so all is not lost there ... at least so far.

At the end of today's trading I will update my numbers....it has not been a good week (mainly due to the fall of MEI.V) but my picks seem to be settling in.

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  #55 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

Each week after the trading for the Friday I will post the status of this thread account



As you can see overall we are still in the black though this past week was not too productive. The boat anchor in this group is Manitok Energy [TSXV:MEI]....You will note that I have a limit stop-loss on this stock and if you read previos posts we can within an eyelash of tripping this trigger twice...but it is now in the process of recovery...at least so far it is.

I have a limit stop-loss on another stock Linden Mining [TSX:LUN] and the same thing happened as with MEI...came very close to tripping the sale of the stock but it has recovered a bit.

I like using this method of potentially selling a stock....it takes the emotion out of the sale. I cannot count the number of times where I have made an outright sale only to see it climb higher after that sale.....this way I have a firm line-in-the-sand but if the share price wants to rise...I will it go and if I have a serious intent of selling I will keep the Limit Stop-loss, moving it up as the share price rises, on until it finally sells.

Doing it this way reduces the emotion of selling almost completely as well it give the stock a chance to make more profit (or reduce losses)...

Have a good week end....really cold here -30c (about -28f) so won't be doing much outside this weekend.

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  #56 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

Diversification into Industrials

I decided on adding one more stock to this portfolio....into the Industrial sector

After looking for profitable company under $20/ share narrowed me down to two companies...

ADF Group Inc. [TSX: DRX] - A structural steel company with a fabrication plant in Quebec

Questor Technology Inc. [TSXV:QST] - an incinerator manufacturer for the oil industry promarily

This was extremely close to decide...both companies have decent financial fundamentals and the charts look fine to me.

I chose ADF Group Inc. [TSX: DRX] basically because I did not want another Oilfield related stock...but it was a reluctant decision...I will keep an eye on both of them for my real portfolio.

Fundamentals

Balance Sheet - quite low debt of about $3 million which was reduced from a year ago

Stock Market Quotes | Company Financials, Financial Information

Income Statement - Operating for EVERY quarter is increasing over the year. The Net income increases as well and in the last 6 months that company has returned to profitability.

Stock Market Quotes | Company Financials, Financial Information

Technical analysis



Starting at the upper Left and going clockwise you first see the Point and Figure chart. I like the look of this chart. Again I would normally not buy at this point, the resistance is a $3.50 and I believe this will be attacked soon...this is an important resistance to pass as that resistance will turn into a pretty good support.

Resistance: $3.50 Support: $3.10- $3.15

next is the "trigger" chart... I like the current position of the price right now....it is right at the 20daySMA rising off the 50 day SMA...the Bollies are pretty tight as you can see in the BBwidth which is falling to a level where past breakouts have occured...I believe there will be a breakout in 5 business days. Both the Slow Sto and MACD has stopped their decline and absolutely flat.

Next chart is the Ichimoku chart...the OnBal Volume is excellent...the CCI is rising again...the Ichimoku looks fine...you can see the upper edge of the green cloud is $3.10...confirming the earlier support...it is a bit iffy but this is the only real uncomfortable chart...worth a watch but I am willing to take a chance

the final chart is my sentiment chart....I like the rising CMF...the RSI and ADX DI+/- are less bullish but bullish all the same.

Conclusion:

I will place a limit order for 4000 shares of DRX.TO at $3.24 which is midway before the last Bid/ask on Friday

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  #57 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

well I got my DRX.to at $3.11/share which is lower than the bid I made but it continued to fall to $3.01 so we shall see what happens there.

Also my Limit-Stop-Loss did finally trip so I sold my LUN.TO 1500 shares @ $5.12/share

Kind of a interesting day with the crisis in the Ukraine...Gold should do well....Oil and Nat is tough over there but how that will be affected here remains to be seen

I thought I filled my portfolio but still have about $8000 to spend after losing Lun.TO

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  #58 (permalink)
Prince George BC Canada
 
Experience: Advanced
Platform: IBs TWS
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deaddog's Avatar
 
Posts: 789 since May 2013
Thanks: 118 given, 1,913 received

I know it's a demo protfolio but to be realistic wouldn't you have sold at the open at 5.10?
So far this morning the stock hasn't traded at 5.12.

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #59 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


deaddog View Post
I know it's a demo protfolio but to be realistic wouldn't you have sold at the open at 5.10?
So far this morning the stock hasn't traded at 5.12.

true enough...I did just a quick check before I wrote that and saw a high of $5.12 and just assumed it dropped through the zone and not rose up from a lower value....the limit stop range would have prevented the sale at lower values than $5.10 and tripped at $5.10 on the way up....yep...I made 2 cents less/share

nice catch...I looked at your TCM and it has taken a hit too....not a good day for base metals I fear.

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  #60 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

update March 6


I have not done much in the last few days to this portfolio.

The stop losses I set last week finally tripped for MEI.V and LUN.TO...I still think they are decent companies and in fact they rebounded from the stop-loss trip points but I set those levels and I will look for other stocks to replace them

I thought an update on the state of the portfolio was in order....I took my spreadsheet and carved it up into manageable sections so you can see it all.







the second graphic seems better without expanding it

So...as you can see last week was not so hot but this week looks fine and overall we are still making money. this snapshot was taken one hour into the trading session on today March 7 (I forgot to change the date in the first chart

So I have got $19,612.10 to spend...I am toying with adding more shares to BTO.TO as it is performing well. I don't particularly want to add another gold mine per se. I am thinking of adding a gold royalty stock...Sandstrom Gold Corp [TSX:SSL; NYSE:SAND] as an alternative....or a combination of both.

Still mulling this over for now

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