New America stock ASIA breaks out and I automatically buy some


On May 10, I wrote: “So, stocks on the New America list often take off sometime after their story is published in IBD.   One recent addition to the New America list that looks promising technically to me if it can break $18.60, is ASIA. ”

After I wrote that post, I placed a   GTC (good til cancelled) trigger order with my broker to buy ASIA if the stock traded above $18.60.   Sure enough, a week later, on Tuesday, ASIA broke out on huge volume.   I was at an all day meeting on Tuesday, when ASIA broke 18.60 and I bought my shares automatically at around $18.66.   One does not have to watch the market in order to buy break outs.   Just use trigger or buy stop orders. ASIA closed Tuesday at 19.44. I will now place a GTC trigger order to sell ASIA if the stock falls below $17.   These trigger orders take the emotion out of the trade. Note on the chart where “NA” indicates when ASIA appeared in the IBD New America column. It makes sense to monitor stocks that appear in the New America column.


7 thoughts on “New America stock ASIA breaks out and I automatically buy some”

  1. Got stopped out of QLD last week. Not in a hurry to jump back in here since there is resistance above but won’t go short in an uptrend. So I will wait looking for a decent entry. I am thinking if we break above new highs on QQQQ then I will fade back in with a stop below that. Otherwise, waiting for QID to retest 35. If that holds, I will consider going short. From a psychological perspective, I have that nagging “rush to get back in” feeling which tells me I had better not.

  2. Pingback: Daily News About Asia : A few links about Asia - Tuesday, 19 May 2009 19:37
  3. Mr. Wish, I don’t believe half of what you say! I’ve been keeking track of stocks you own, per your previous postings when you stated, “ALGT, NFLX,… I own some of these”. As soon as some stocks start to go up, you suddenly “own some of these”. The next day those same stocks went down and kept doing down further. But you never say anything anymore abt those stocks. So you either took a loss if you got out, or took a loss on your ‘stop loss’ that you set below your purchase price! Either way it is a loss. Perhaps you are losing on this market but need to keep up appearances of winning for your students or for the university people. This is a “psychological need” — no one wants to have a losing prof, right?. Nevertheless, I believe only HALF of what you say and only with a grain of salt.

  4. I am constantly amazed by the amount of hostility which is spewed out in autonomous postings I see on the internet. If the site has no credibility, stop reading it.

    The site does contain information which is valuable to many regular readers and I hope that the continuation of its postings is not affected by gratuitous personal attacks.

  5. Thanks for this strategy post! Looks like ASIA has gone up quite a bit more than the market since you made this purchase.

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