Whats RSI got to do with it
Quote:
Originally Posted by
SparkyTheClown
The Jim Cramer (ex US fund manager and now Mad Money host) once said "Three days of selling, then BUY".
If there is three days of near 10% drops, then look to technicals like RSI to suggest Xero is oversold.
I will be watching Diligent closely for the same reasons.
Given the recovery from the day's low today I would be extremely careful with this one, it doesn't smell right for the J. Cramer way to millions.
DIL is still on as a reasonable bet for next week.
But tomorrow is another day.
Best Wishes
Paper Tiger
Tomorrow it will either go up,down or sideways
I did not phrase that last post at all well. :ohmy:
Rapid fall to $11.50 (definite support level eh?) in the first 1.5 hours and then the rest of the day on a steady climb to $12.50.
There are some people with money out there who really believe Xero is worth this sort of price. :(
A sensible thing now would be for it to hang around this area for a while.
But you never know when the market is going to get properly spooked.
Best Wishes
Paper Tiger
Stay with the NZX it needs you
Quote:
Originally Posted by
bjd
I bought in at 0.90c and put a trailing stop loss in about a month ago, when it dropped to $14.85 it got triggered but the spreads were such that it sold at $14.30. Not going to get into it again as I guess that was once in a lifetime.
Quote:
Originally Posted by
bjd
I just manually adjusted a stop loss each day to trail the current price. I needed to supply a trigger price and a limit price, the trigger is what I adjusted, the limit was the point below which the sale would be stopped. Alternatively I could just put market price as the limit. I used $11 as the limit.
I was going to ask this forum about whether this was the right approach but my account with this forum was only just validated so it sold before I could ask. I do find liquidity on the NZX a problem and have moved my gains over to ASX where hopefully sales are made as soon as the stop loss is triggered. In any case I am happy with how it turned out.
Given that the close the close the previous day was $14.90 a stop at $14.85 is really tight, it leaves no room for the normal noise in a days trade. A few % percent (not cents) below is fairly tight.
Also when you get the sort of run that happened that day with a sudden lack of buyers then the price you can actually get can be significantly lower than your stop. You will find the same thing happening on the ASX for a similar type of stock.
Not a fan of automated stops myself and never use them. I like make to make my decisions on slightly more than the instantaneous price.
On the bright side you can claim to have got out near the top (for now).
Best Wishes
Paper Tiger