LRCX - Lam Research - $348.50 Entry / $400+ / Correction Over?
0. Notes to follow;
Comment:
UPDATE
Looks like a 15 percent correction from $390 to $338 yesterday. This baby is going back to $375 short term easily.
Looks like a 15 percent correction from $390 to $338 yesterday. This baby is going back to $375 short term easily.
Comment:
ONE FOR THE RECORD BOOKS
So if you thought that anyone, or any team was infallible, you would be wrong. LRCX and not worked out in our favour, but we still hold a SMALL, losing position in this stock, with high hopes.
We have only lost money 1 year in 30, at that was 2007.
en.wikipedia.org/wik...i/Prediction_Company
So just a reminder, diversified portfolio, NO options gambling, and OWN stock. We are sitting on this with a cost basis now of $330 AND THE STOCK IS AT $300.
I don't even remember the last time we lost 10 percent on anything.
We are not humbled. We are human. Sometimes the ONLY was to turn a quick profit on something, is WAIT 6 MONTHS.
Cheers
- drchelsea
So if you thought that anyone, or any team was infallible, you would be wrong. LRCX and not worked out in our favour, but we still hold a SMALL, losing position in this stock, with high hopes.
We have only lost money 1 year in 30, at that was 2007.
en.wikipedia.org/wik...i/Prediction_Company
So just a reminder, diversified portfolio, NO options gambling, and OWN stock. We are sitting on this with a cost basis now of $330 AND THE STOCK IS AT $300.
I don't even remember the last time we lost 10 percent on anything.
We are not humbled. We are human. Sometimes the ONLY was to turn a quick profit on something, is WAIT 6 MONTHS.
Cheers
- drchelsea
Comment:
And before we say that we were completely wrong, we were not. We felt it would SCALLOP around from $350 to $375. We did hold the trajectory until $365, then the correction / mini-crash hit. It happens. The US / China issues behind this were not unexpected, that is why as always we keep diversified portfolios, that contain many stocks and ETFs.
Lesson - a 10 percent loss on LRCX, if it is 2 percent of your portfolio, is only a .2 percent loss. Never go all in on one stock, unless you know something ;)
Lesson - a 10 percent loss on LRCX, if it is 2 percent of your portfolio, is only a .2 percent loss. Never go all in on one stock, unless you know something ;)
Comment:
UPDATE
So we are in at $330
Current Stock Price
$437.50
PROFIT = 30 PERCENT = WOW
Patience is the key friends.
- drchelsea
So we are in at $330
Current Stock Price
$437.50
PROFIT = 30 PERCENT = WOW
Patience is the key friends.
- drchelsea
Comment:
Very funny
30 percent correction,
now 30 percent profit.
Funny how that works? Technicals. Respect the technicals.
30 percent correction,
now 30 percent profit.
Funny how that works? Technicals. Respect the technicals.
Comment:
And for the record, that is a Cup & Handle with a Breakout at $380.
If it retests the breakout at $375 / $380 - Buy buy buy.
If it retests the breakout at $375 / $380 - Buy buy buy.
2. Stock broke $370 and headed quickly down to the $350 support range;
3. Stock appears to be consolidating around back to $372.50;
4. Looking for a $350 close, a $348.50 entry, and we have been slowly scaling in since $367.50 / $355 / now sub $350;
5. We are looking for a change in direction here and a move back into the channel at $360, then a move to $400 at the top of the channel;