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How to Get Rich Investing in Stocks by Riding the Electron Wave

Buy BP?

Companies / Company Chart Analysis Jun 20, 2010 - 10:28 AM GMT

By: Jay_DeVincentis

Companies

Just in case you were thinking of buying BP, you need to understand the risks.

Here’s an image from one of my computer screens (I trade with 4 screens). This gives me a snapshot of the yearly, weekly and daily view of a stock. I like to see where a stock is in those time frames before every decision to buy or sell.


The situation in BP is very bad. And while this may be a great opportunity to buy a stock that is beaten down and quite a value, it’s also very risky.

I always ask people why they would take such a risk with their money - there are so many stocks in the stock market, that are good companies and present good opportunities. Just because a stock is in the news doesn’t mean you have to be a hero and trade it. In fact, I’d rather trade the stock that no one knows about.

That being said, if you’re going to step in at some point here, there is some technical fibonacci support here.

However, if it breaks these levels, it’s going lower, much lower. The market is a popularity contest and the unpopular stocks can get very unpopular... I could see BP in the single digits if support breaks here.
So be cautious.

As always, if you have any questions or comments, feel free to email me here at jay@stockbarometer.com.

Regards,

By Jay DeVincentis

www.stockbarometer.com

Stock Barometer Premier Membership Receive 5 Newsletters, including the Daily Stock Barometer, Stock Options Speculator, QQQQ/Rydex Trader, Market Chat & Explosive Stock Alert FOR ONE LOW PRICE.


Important Disclosure
Futures, Options, Mutual Fund, ETF and Equity trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy/sell Futures, Options, Mutual Funds or Equities. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this Web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
Performance results are hypothetical. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as a lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
Investment Research Group and all individuals affiliated with Investment Research Group assume no responsibilities for your trading and investment results.
Investment Research Group (IRG), as a publisher of a financial newsletter of general and regular circulation, cannot tender individual investment advice. Only a registered broker or investment adviser may advise you individually on the suitability and performance of your portfolio or specific investments.
In making any investment decision, you will rely solely on your own review and examination of the fact and records relating to such investments. Past performance of our recommendations is not an indication of future performance. The publisher shall have no liability of whatever nature in respect of any claims, damages, loss, or expense arising out of or in connection with the reliance by you on the contents of our Web site, any promotion, published material, alert, or update.
For a complete understanding of the risks associated with trading, see our Risk Disclosure.

© 2010 Copyright Jay DeVincentis - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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