MATK looks like it's going to make a move

[TrendTracker]

What do you think? I reckon, this (MATK) should be an interesting opportunity at the mo. The only thing that is slightly disturbing is the fact that the volume stays rather low.

 

[dvdh]

What do you think? I reckon, this (MATK) should be an interesting opportunity at the mo. The only thing that is slightly disturbing is the fact that the volume stays rather low.

That's exactly what I was thinking. The stock looks like it's in a nice uptrend, but the volume on the breakout wasn't exactly high. But I think it'll go to 48.38, which is the MA200. But the next couple of days I think there's gonna be some volume coming in. Because it broke out on the upside if you look at a weekly chart and draw a line from the high of 70 to the next uptick at around 61.35. So even if it is a false breakout, it still looks like it's gonna touch the MA200 (daily) or the MA50 (weekly) at 48.73. Something in that area i think.

By the way, thanks for posting. You found a good stock for a nice swingtrade. I'm buying it at the open. Because if you look at the RSI (4) on a daily chart and draw a trendline. Then you see an upside breakout. Works for me. What about you? Are you long?

 

[TrendTracker]

Yes, I would like to be.... my system's long on this... Unfortunately though I am not able to trade before next week. I'm in the process of setting up a trading account with a London broker (IG Markets most likely) and should all go well the account is open and the funds transferred some time next week.

I have been honing my trading system by paper trading for a number of years. This is the first year that I have been able to produce constant returns... therefore, it's now time to start trading.

MATK is one of the stocks that have performed extremely well in my system. Others, such as AMGN are good as well but not to the degree Martek has performed.

Thanks for your comments. I'd agree on your price target but to be sure we'd need to see more volume and a good strong close today. I'll keep my thumbs up and will join you (in trading MATK for real) as soon as I get the account opening hassle out the way.

 

[dvdh]

Okay, cool. So it's gonna be the first time live next week then? And you're gonna swing-trade nasdaq stocks? Are you gonna daytrade them as well? I can only hope for you that you will trade the same way live as in papertrading. Because if you've never traded live, you'll feel a big difference in your gut.
Like every trader, you'll experience losses. But I can only tell you, never go back to papertrading. Just adjust your size. Trade smaller, but stay live. And if you're in a winning streak, put on some size. And as soon as you made $ 25,000 switch over to a direct access account. That's when real trading begins.

Trade safe!!!!!!!

 

[TrendTracker]

Hi! Thanks for your input, I'll keep that in mind. I traded DAX futures some years ago (1998) and lost all of my stake at the time. Since then I have been studying and studying.... for seven years. Now I have a system that works okay.

Hope you stayed long on MATK. 4.5% move is a good one when traded with CFDs.

 

[dvdh]

Hi! Thanks for your input, I'll keep that in mind. I traded DAX futures some years ago (1998) and lost all of my stake at the time. Since then I have been studying and studying.... for seven years. Now I have a system that works okay.

Hope you stayed long on MATK. 4.5% move is a good one when traded with CFDs.

Yeah man, damn sure I was long. I bought a thousand on thursday. Sold 500 at 48 and another 500 at 50, because the volume just got toooo high, which implies selling in my point of view and of course 50 is big-time important psychological number. And again thanks. It was a great trade. Too bad you couldn't be long. But once again. If you look for good confirmation. Draw trendlines on the RSI (4). If it breaks and closes, than you have your confirmation. Works for me 8 out of 10 times.

By the way, if you have more of these or if you want me to help you out with anything, you can always mail me on [email protected]. Keep me in touch.

And speaking about DAX futures trading. I'll tell you something about me. I started swing-trading Dutch stocks two years ago, when I was 16. I made 60 % in three months. But then there were the Madrid Bomb attacks. Which lost me over 50% of what I made. And that's why I stopped investing, because on Euronext, you have to go overnight for like weeks, to get a good 1 euro profit per share. Compared to 2 to 5 dollar moves a day on the NASDAQ. But I took a daytrading class at a prop-trading company and they adviced me to trade futures. So here I am, thinking I'd be a millionaire by the end of the year, because so much money could be made in futures (DAX/BUNDS). Yeah right? LOL. So I started out with € 25,000. I became a EUREX member. And had to pay € 1500 a month to have the fastest system there was to trade EUREX futures. Well. I never used Technical Analysis on the DAX. I just traded the flow, as they called it, which means, if you have a big move in the S&P. Buy or sell the dax, because it will follow just a couple seconds later. I was just a little bit profitable until Christmas last year, then because of interest rates, Euro/Dollar and some other things. The US and European markets were sort of disconnecting, if you know what I mean. So then all the misery started. I ended up losing € 15,000 of my € 25,000 grubstake, more because of the monthly € 1500 fee, than because my trading. But I ended up with € 10,000 left in my pocket. So I stopped trading the DAX, I moved over to the S&P. In the S&P 500 future I couldn't make any money, but I didn't lose either. I could only make some by going overnight, because I saw a technical outbreak. And that's when I started using Technical Analysis. After trading the S&P 500 for 2 months, I stopped doing that as well. Only swing-trading is what I do these days in futures. And then a friend of mine told me there was some great volatility on the NASDAQ. And it moved technically. So first after a month of studying these NASDAQ stocks, I started trading them and for me, this is the best thing I ever did, making the move from trading futures intraday to stocks. The intraday moves of the NASDAQ stocks, you just can't compare them to anything else. And it's so damn technical.
What kind of system do you use, or don't you wanna tell???

 

[TrendTracker]

Dave,

life's a bit hectic right now, but thanks for your email address. I'll get back to you once I get a chance.

Cheers!

 

[dvdh]

Dave,

life's a bit hectic right now, but thanks for your email address. I'll get back to you once I get a chance.

Cheers!

Cool!