Meet
Hi, I'm new here...
just sharing... I'm in MEET looking for $2.00 this week.
As you can see, the chart looks great:
http://onlinetradersforum.com/attach...eet-jpg.15579/MEET took a dip today. I'm gonna average in if I can get a good fill. BTW, I have posted an average down calculator, and a percentage increase calculator here:
http://www.stocktradingteacher.com/4.htmlAveraging down is a bagholders famous last words. This sucker should have went last week. The trend failed today. I'm only interested if it actually sets up to get thru 1.95/2 at this point. Better plays in the mean time. Good Luck to you though!
Okay I lied about the trend fail, I went off your chart above and your trend line did fail, however, check this out.
http://content.screencast.com/users/...2013-21.46.png
I draw trends off initial gap ups on stocks like this, so the trend is still technically intact, BUT if it fails to make a higher low and hold it will fall off to 1.50 quickly. It needs to eventually break and hold 1.80, then it'll run towards that 2+.
Either way I still don't recommend averaging down. Been there, done that, it's just throwing good money after bad money and frustrates you when if keeps going lower. Then you think, "well crap, I guess I'll just be an investor now." NO NO NO, that mindset will kill your account. It's okay to take losses guys, save money for better plays. You can always buy it back later if it sets up again.
Blaine,
Averaging down has helped me make money time and time again. It's often my method. I often swing trade in 1/3's. Let's say I want to get 3000 shares of MEET, I will often start out with just 1000 shares. If I believe in the stock, and if it continues to have a good story, I will average down 1000 more shares if it falls down to the next level of support, or average up 2000 more shares if it breaks through resistance, then sell into strength. As for MEET it did come off of bottom yesterday, and there appear to be buyers around the 50 moving average. It's probably a good buy right here for anyone.
I learned the average in, in thirds technique here, but I have also heard Kramer teach it:
http://www.jasonbondpicks.com/dap/a/...nbondpicks.com