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xmen911
04-19-2004, 04:34 PM
I know you follow the stock NGEN and i just bought some today at $8. I probably should have asked you first, but i was wanting to know what you thought about buying it at this price? Any advice or comments are appreciated.

wallstreet
04-19-2004, 05:09 PM
xmen,

You know I like this stock, but at the current ratio compared to NANX, I would pay the extra buck and buy NANX.

You are already in NGEN, I am not as of yet.

What I can tell you is this sector is crazy, I hope you bot in pieces, giving yourself more room to buy if it dips some. If not, you must decide what you want to do..choices are: keep a tight mental stop (a price to sell at no matter what to save capital) or know that you will be seasick with this stock, but eventually you will see 9 bucks again or more.

One other word of big time caution- NANX reports earnings on Thursday I think..that is why I have been sitting on my hands with the group. I dont want to buy into earnings..I could just see the sector get smacked and I am 50% in already..but just so you know, I am a contrarian indicator..when I wait it out, the stocks always go up..if I am in come earnings it never fails that I get spanked..

So let me know what you did on the buy..if it was in pieces or in one chunk..and I will give you some support numbers etc.

I had to wait it out last time, made several small buys, but in the end I feel like I had a big return on it for me..

GL

xmen911
04-20-2004, 09:56 AM
i bought it all on one purchase at $8.03 to be precise. i liked the chart (technicals) and my interpretation was that it was ready for a quick upside spurt along with the overall market. but i would appreciate any thoughts or advice on where to take profit or put in a stop loss. maybe i should just sell it now and wait for a better opportunity?

wallstreet
04-20-2004, 02:04 PM
xmen,

The 50 day moving average was just penetrated the other day on the stock..and the last run back to 10 touched the 50 day, then it moved away from it. I dont want to see the 50 day be a ceiling for any stock..that is a negative to me.

I would keep a mental stop in place and somtimes I use a percentage..say 10% or 15% loss as my exit. It isnt always how I trade, but when I have to make myself use one that is how I go about it. Especially since it just moved down through the 50 day, which is often used as a stop level. The stock is touching the 20 day right now.. and the 50 day is trailing downwards..if the two intersect and the stock moves off it higher, then you might have that explosion.

Just be careful of those earnings on Wed...NANX releases on Wed after the bell...it could be great, it could be horrible..I will stand aside and watch..

mary
04-20-2004, 02:25 PM
BIG MOVE AHEAD--LOOK INTO IT--MANY REASONS TO BUY IT--SYMBOL SPSC-----------GOOD LUCK

xmen911
04-20-2004, 03:36 PM
thank you wall street. well it didnt look very favorable so i decided to just cut my losses and wait for a better opportunity. After seeing how the market reacted after tasr's earnings release i dont think i wanna chance holding the position taking into consideration that nanx's earnings will be coming out tomorrow. And also with Greenspan still to speak, who knows how the market will react. thank you for the advice.

xmen911
04-20-2004, 03:37 PM
thank you for the tip mary, i will look into that.