Yesterday we asked which was the better stock to focus on into the close: RIMM or MOS. We asked readers to start at the 3:15PM mark and offer their opinions.
This was a real life stock selection decision to be made into the close. Some of our guys were more focused on MOS or even V and not so much RIMM. Those that gravitated towards RIMM had better results. You are only as good as the stocks that you trade. And developing the stock selection skill to choose the right one’s takes experience and personal thought picking an MOS or RIMM into the close.
I was looking to add more RIMM into the close yesterday. RIMM was moving. RIMM had made a substancial move above the 60 level. I love when stocks MOVE AWAY from prices. This indicates a REAL ORDER. I value stocks that MOVE AWAY from prices.
MOS as pdmoney explained was not really moving. As time went by into the close the chances of a move decreased, which is why I started exiting.
Excellent comments from our readers. I agree with Tmacktrading this is a fun question to consider. And these are the types of debates a developing trader ought to have with their trading peers. This is the decision thinking that makes you a better trader.
Mike Bellafiore
Author, One Good Trade
One Comment on “Which is the Better Stock to Trade? (Part II)”
RIMM was a much better trade. The stock that is showing the ability to move for points given volume and a legitimate $60 breakout level, coupled with the fact that it was probobly highly shorted after downgrades and trading under 60. MOS had shown that it was not a trade by 10:30. MOS was trading up and down 40c randomly with no substantial agreement on the price of the stock. It had not respected the 77, 78 levels and was not showing signs of making a legitimate price change.