Disqus - Latest Comments for downtowntrader

Re: Why I Sold Twitter… Because I Could

downtowntrader — Thu, 26 Jul 2012 09:14:46 -0000

fantasic howard! thanks for sharing.

Re: 13 Observations on this market | Downtown Trader

downtowntrader — Tue, 15 May 2012 09:40:55 -0000

Permit, Cobia, Dolphin, Grouper, any large fish will do really :) get ready for my Bimini pics in a few weeks.

Re: 13 Observations on this market | Downtown Trader

downtowntrader — Tue, 15 May 2012 09:39:18 -0000

Thanks Josh.

Re: Top 25 Traders On Twitter

downtowntrader — Tue, 17 Apr 2012 16:09:25 -0000

Thanks for including me, much appreciated.

Re: So Now What? | Downtown Trader

downtowntrader — Fri, 13 Apr 2012 09:52:37 -0000

Yep, agree on that. Just like the markets will shakeout on a false breakdown, they usually have one last breakout that fails. It's funny, every market is different, yet they are all the same.

Re: 35 | The Reformed Broker

downtowntrader — Fri, 24 Feb 2012 13:00:04 -0000

I admire the courage you have in laying these personal questions out there. Everyone has their doubts, but you've been killing it for a while and I have no doubts its just the beginning.
Happy Birthday and great post!

Re: Elephant Hunting with Joe Fahmy: Stock Selection | The Reformed Broker

downtowntrader — Thu, 12 Jan 2012 22:41:08 -0000

Although I'm biased because Joe is a good friend, I too count him as one of the best traders I know. He gets unfairly criticized at times for his belief of going to cash, but this takes a great deal of discipline and keeps him out of trouble. More importantly this keeps him confident and in the right frame of mind. I'm sure that the seminar will be very informative and people won't be disappointed.

Re: I am a Trader | Downtown Trader

downtowntrader — Sun, 08 Jan 2012 16:32:21 -0000

I don't think you should look at it as Fundamental versus Technicals, they both accomplish different things. Fundamentals wouldn't have warned or accounted for any of the items you mentioned either. Although, in reality, technical analysis can warn you about those types of events in many cases. Technical analysis is simply the analysis of price action. I think that any time money is involved, there is a propensity for unethical actions and "someone" always knows about the events you mentioned before it becomes public. The Jobs news was hardly unexpected (maybe not so soon, but everyone knew he was sick). People inside the company know about a lawsuit and same for earnings. It doesn't always occur, and its not always easy to identify, but people position ahead of these events all the time and technical analysis can help identify it.

Joey

Re: Topping Tails Abound | Downtown Trader

downtowntrader — Wed, 04 Jan 2012 00:26:09 -0000

Yeah I noticed the same thing, there are tons out there. However, even with oil itself closing well, $XOM printed a shooting star too. It is only a short term pattern, but with McClellan also getting overbought, we may be headed for some weakness or consolidation soon.

Re: I’m a Flip Flopper | Downtown Trader

downtowntrader — Tue, 27 Sep 2011 22:08:34 -0000

Yeah, that was my original stop too, but something is not right with it. Had everything set for the squeeze and couldn't do it, so I bailed early. Maybe I'm not being patient enough, but I figure I can get back in if it continues to set up. Thanks for the comment goat.

Re: What Capitulation Looks Like | Downtown Trader

downtowntrader — Wed, 24 Aug 2011 21:06:09 -0000

RIM is down 80% from its highs over the past three years. I wouldn't call it early stages. I agree that the company is in trouble, but my thesis of a capitulation low still stands. RIM will likely see higher prices from here in the short term, even if destined for years of under performance. Also, the main point of the article was to highlight what it looks like in order to look for the same action in the markets. And while I disagree on some of your points, I do appreciate the discussion.

Re: What Capitulation Looks Like | Downtown Trader

downtowntrader — Wed, 24 Aug 2011 20:05:18 -0000

Knowing what has happened can be very valuable information, even to fundamental investors. I would disagree that it is limited to just the present, as knowing how institutions or investors are treating a stock can help determine where a stock will be in the future. Of course it all about odds and risk versus reward, not certainties, but that is the same as analyzing product lines. Because the market is driven by humans, it is not always efficient. Thus interpreting price action and market psychology is certainly viable. I would agree that the shorter the time frame, the more important price action is, but even on longer terms price action can be interpreted.

As an avid Android fan, I can't argue with any arguments against RIM products. I know they suck. However, by recognizing that the selling had exhausted itself, a fundamentals based short seller could have easily covered and saved themselves 25-30%. At some point, RIM will be a short again and that is very hard to pin point just by knowing their products suck. Timing does matter, even to long term investors and shorts.

Re: What Capitulation Looks Like | Downtown Trader

downtowntrader — Wed, 24 Aug 2011 18:04:49 -0000

I always find it humorous how many investors have an obvious disdain for technicals. Technical Analysis does not dismiss that fundamentals are important. It is merely an unbiased view into price action. Of course sales, profits, and products matter. I also can't argue with them seeing declining sales and profits based on how things look. However, neither you nor I have a true look into what the company is planning and how institutions will react. You mention that investors are a "flighty bunch" and I agree. However, isn't it possible that this "flighty bunch" has panicked past what the fundamentals say the company is worth?
The chart is showing that investors dumped the stock in a manner typical with a panic. Then the selling slowly dried up and transitioned to accumulation. Will RIMM rebound to new highs? Of course not anytime soon if ever, but the level where institutions have decided to hold rather than sell has been revealed. RIMM has plenty of upside from these levels while still remaining a crappy company with a crappy outlook. I'd rather earn 20-40% on a crappy stock than 10% on a stock with glowing fundamentals. Investing in RIM is dangerous, but trading it is well worth the risk here.

Joey

Re: The Man Behind the Curtain | The Reformed Broker

downtowntrader — Sat, 06 Aug 2011 11:34:30 -0000

Fantastic post Josh!

Re: I am a Trader | Downtown Trader

downtowntrader — Fri, 22 Jul 2011 12:25:39 -0000

Thanks for all the comments and great additions.

Re: I am a Trader | Downtown Trader

downtowntrader — Fri, 22 Jul 2011 12:24:59 -0000

Trading on inside information, short term price manipulation, positioning ahead of upgrades/downgrades, etc. There are all sorts of ways you can look at it, but in the end, the important thing is how you deal with it, cause there will always be people skirting the system.

Re: I am a Trader | Downtown Trader

downtowntrader — Thu, 21 Jul 2011 22:14:39 -0000

Excellent additions

Re: Harness the Energy | All Star Charts

downtowntrader — Mon, 18 Jul 2011 23:44:11 -0000

Nice post JC. I've noticed the same thing as oil stocks keep showing up on my screens, despite oil not really doing anything. Have to assume $HK buyout / speculation is helping at least the smaller names in the group.

Re: Thank You | High Chart Patterns

downtowntrader — Tue, 12 Jul 2011 20:07:15 -0000

Damn, has it been 5 years already? Thanks to the power of Google, I still have our first email exchange from 2006 when we exchanged links. Time flies when you're charting stocks.
Congrats on what is surely just the start, you guys have consistently provided value to your subscribers over the years and it was no surprise to me when you hit the ground running in the social media space with Stocktwits.
Good Luck my friends,

Joey

Re: 10 Things I learned on Stocktwits This Week | Downtown Trader

downtowntrader — Tue, 07 Jun 2011 13:54:29 -0000

Thanks for the comment. Read through your blog and you have some great stuff there. Keep up the work and good luck on the trading desk.

Joey

Re: How to use Twitter | All Star Charts

downtowntrader — Fri, 06 May 2011 14:53:53 -0000

I follow @joefahmy for good jokes

Re: Another Pull Back To Support Play | Downtown Trader

downtowntrader — Fri, 06 May 2011 14:37:31 -0000

the 20 day moving average. You could also choose yesterdays low, or even just under $8 depending on your risk tolerance.

Re: Some Bounce Plays | Downtown Trader

downtowntrader — Thu, 05 May 2011 16:13:26 -0000

I like CROX. and earnings are out of the way. The retail sector has been hot and as long as the markets don't crater, it should be good.

Re: This is NOT a post about Silver, Apple, Netflix, or Margin Calls | The Minimalist Trader

downtowntrader — Thu, 05 May 2011 10:52:12 -0000

Thanks for the link to my article and definitely with you on leaving the top fading to the crowd.

Joey

Re: Good Trading Is Boring Trading | Downtown Trader

downtowntrader — Wed, 04 May 2011 23:02:19 -0000

Nothing wrong with sitting and waiting for an opportunity to present itself. It's hard to sit in cash at times, but trades will always appear in a few days.