I asked my friends Cole and Eric at Blackstar for their long-term trend stop points on my favorite leaders. Here they are:
RIMM – $85.89
GRMN – $73.44
GOOG – $609.04
BIDU – $259.89
OIH – $154.78
AAPL – $141.08
I will be using their Garmin, OIH and Apple stop points, but stopped out of Google and Baidu on the run ups and earlier today on the rest. RIMM was an embarrasingly early trend sell by me months ago, unless it gaps down $40 points tomorrow (in which case I am a genius).
I was a buyer of Garmin last week at $90 (whoopass) and will be buying some more in the high $70’s on more weakness. I know my stop points and will adjust my position size for distance of the stops.
Google, Apple and Baidu could be in these major areas of decision by tomorrow morning at today’s pace.
Fasten your seat belts and be prepared so you can be proactive, not panicked and reactive.
If you have been buying the bank stocks, this must be the first time reading this blog. If you read this blog everyday and have buying banks and brokers, no one can help you or should help you. Go to the racetrack.
Hope this helps you. It helps me :) .
Thanks for this post, it helped a lot. I was going through my portfolio and readjusting stops but was having some difficulty in picking my stop points, especially in aapl.
My question is what are you doing with the cash you are raising with these sales? Are you waiting for a reentry point, or moving it into other sectors? I’m not sure I want to sit on cash for too long with such a weak dollar.
Howard, Thanks for the stop points. Much appreciated. I slept better last night. Could you/Cole/Eric offer a method of choosing stop points? That’s a weak area for me and I could use some help with that. Great blog! It’s the only one I visit daily, and even catch up if I miss one. You seem to be calling this game pretty well!