Hey Marty, just joined today. Hoping you can help me get \'22 off to a good start.
I was wondering what you meant on the comment on AMAT, \"This one requires patience from us.\"
Thank you for joining us!
AMAT is like an old joke around here. The stock was forming a base all summer and then finally moved from the $146.00 on November 4 to $159 on November 16. It has now formed another flat base.
We waited all summer for a move from $146 to $159. There is an "opportunity cost" associated with sitting on a stock and waiting that long for a move of less than 10%. If AMAT moves off that $159.00 level I would recommend to take profits quickly. This one likes to sit around too much😂
But, I cannot complain about a winning trade even if it takes four months. At least we did not lose money on AMAT, and I do not think you will lose money buying near this recent buy area. Recently, that stock had a fake breakout above $162 and quickly pulled back. I know some folks in the community bought that stock near $159.00 and I am expecting a bounce off this moving averages soon.I hope this answers your question. I also hope this site helps improve your skills.