Hess is one of the best trading stocks out there. I believe we nailed the pivot yesterday. I am putting my seal of approval on this one.
I dont see HES as a buy yet, but as far as pivot high I get. Last pivot high 4-20-12 pivot price 56.25 avg range 2.2% or $1.27. suggested buy points are 53.10 and 51.20 which current price is in between. But still would not be comfortable buying yet.If your looking for a trade today look at MCP long at 28.70 in which it did hit today and stop loss at 27.60 in which it came within 5 cents so you could enter now at market and hit a target of 5% from the entry price. Currently at 27.80 TARGET IS $30.13 nice chunk of change.
Why wouldnt you be comfortable? You were comfortable buying some odd high flying stock at the end of May while there were other stocks catching a bottom. Its a simple formula. HES has two divisions. E&P and refining. So what does refining rely on? The crack spread. http://stockcharts.com/h-sc/ui?s=$WTIC:$GASO&p=D&b=1&g=0&id=p02888009805 Right now the institutions are selling you Apple and Amazon. Then they are taking that money and going into stocks like HES. The professionals will buy at the bottom and then sell to amateurs at the top. The money doesnt evaporate but shift into other things.
The stock is oversold on a pivot high basis but if I scan it and it doesnt show a buy signal I dont buy.I wont know where my entry and exit points are. I need to know where to buy and where to get out, thats all. And that stock doesnt show that yet.You have to have guide lines and you have to follow them no matter what. I have a couple that im paper trading now. RCL entered 27.00 up 4.0% IVZ entered 24.25 up 2.8% NYX entered 26.90 up 1.2% .All of these bought thurs 4-26 These stocks I scanned and gave me enter and exit prices and they are winners so far looking for 5% targets.All im saying is you have to have some type of rules for yourself to follow.
You are saying I have absolutely no rules that I follow? So in your expert opinion HES is too expensive to buy right here? I say if you fail to buy right here then you miss the move and your scanning system wont pick it up until the price has appreciated by 30%.
I did not say you dont have rules and I did not say im an expert. You missed the point. I would not buy it because when I scanned it there was no signal to buy. I would not buy any stock or etf if I did not have a confirmed buy signal. It probably will bounce and then generate a signal. But until it does I would not consider it, thats all.
On my earlier post when I talked about the pivot high and gave suggested buy points that is based on normal high low cycles of the stock . In other words the stock should come down in those areas after a confirmed pivot high cycle and yes it has a confirmed pivot high of 56.25 on 4-20. That is strictly pivot high numbers.
Here are some stocks for mondays trade 4-30. NUE long at 39.40 stop loss at 38.55. LXK long at 30.40 stop loss at 29.70. DUG long at 23.75 stop loss at 23.00. JDSU long at 12.45 stop loss at 12.00. NFLX long at 86.25 stop loss at 82.25. MS long at 17.40 stop loss at 16.65. All these stocks generated buy signals for monday 4-30. Targets are 5-7% above entry prices, do not buy these in the first half hour of trading even if it goes to entry price wait for pull back. Hold time is 5 trading days max. All have less than 5% risk. No, HES did not show a buy signal for monday.
http://www.reuters.com/article/2012...rbssFinancialServicesAndRealEstateNews&rpc=43 Watch and learn youngins. SUN is getting taken out and HES is next. Nevermind your screwball system, Im talking real returns and HES is next to get taken out!