This is purely a technical trade but I am adding to
Intuitive Surgical (ISRG) north of $300, as the stock has broken back above the 50 day moving average, after building a month long base. Volume is also picking up. That's about as smart as I get on the technical analysis side. I'll completely reverse this trade *if* the stock breaks back below the 50 day moving average - this is a nice low risk entry point to me. If this is the beginning of a move, we are good. If it is not, we take a small loss (about 2%) and hunker back down awaiting this puppy to
get jiggy with it. In this market, at this stage of mania, I am keeping a tight leash on new buys... if they start misbehaving they go away quickly.
This moves
Intuitive up from 1.2% of portfolio to 2.0%, and if we see more strength, I'll add more from here. Purchases made around $302; I'll exit this buy if it falls back to $295 or so...
[
Apr 18: 2 New Positions - Intuitive Surgical and Morgan Stanley]
Long Intuitive Surgical in fund and personal account
3 comments:
Nice move on ISRG. I was also thinking the same. missed today..will add on Monday if it looks good.
On SLT: FP/E is 0.25. I checked the analyst estimate for FY08, it is $53. Are these numbers really good? a p/e of 0.25?? Any other source you can confirm these numbers, Please?
BTW, Cramer just pumped SLT on stop trading segment..
Really? Cramer has never mentioned it as far as I know.
I dont really concern myself too much with PE on metal stocks. Its in India. It has copper. Good enough.
We'll see on ISRG - I could be out very early Monday or it could be the start of a good trade.
This market is incredulous! Nothing can stop it.
yaa..see stop trading segment on "the street.com".
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