jcampbell
12 posts
msg #58954
- Ignore jcampbell |
1/13/2008 2:53:23 PM
The reason for the CAH long is that it is a text book double bottom, and
you have increased volume on the right leg which to me is saying the that they are trying to change the direction. As for market no not the best for longs but I try to find trades that have the best probability of working out. Check out VSE, september to December, similiar pattern and it was not in favor at the time. Bit it did what its suppose to do. I try not to over analyze. It all about the percent gained.. on VSE I netted a 29% gain in 7 days. I try and wait on the right pattern to get me in that is it. CAH could easily retest $60.96. If the trade works I get 9%, stop is at $59.33. Hope this helps
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johnpaulca
12,036 posts
msg #58957
- Ignore johnpaulca |
1/13/2008 4:39:56 PM
Thanks for the feedback guys. I see many of these "texbook" patterns get hammered. My thinking is, If an Idiot like me can see these patterns then everyone else is also seeing them.
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icanputt
27 posts
msg #58960
- Ignore icanputt |
1/14/2008 8:50:54 AM
will short PENN if it bounces to 53 area
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rnr123
16 posts
msg #58962
- Ignore rnr123 |
1/14/2008 9:16:24 AM
Short TAP @ 49.44
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nikoschopen
2,824 posts
msg #58963
- Ignore nikoschopen
modified |
1/14/2008 11:27:13 AM
No kidding. Coors tastes pretty damn awful!
Oh, BTW, this stock will very likely retest the support (now resistance) level in a few days.
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nikoschopen
2,824 posts
msg #58964
- Ignore nikoschopen |
1/14/2008 11:33:09 AM
icanputt,
I would wait until the stock reaches back up to the mid-54. That's where them resistance lines are drawn.
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johnpaulca
12,036 posts
msg #58965
- Ignore johnpaulca
modified |
1/14/2008 12:12:55 PM
ESRX,GEOY,GMKT....on my radar...short
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nikoschopen
2,824 posts
msg #58969
- Ignore nikoschopen |
1/14/2008 1:26:39 PM
ESRX looks ripe to make a bounce. It has a long tail (eg. hammer) and it's sitting pretty right at SMA(50). If it closes near the top, I might think about jumping in.
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johnpaulca
12,036 posts
msg #58970
- Ignore johnpaulca |
1/14/2008 2:33:21 PM
NiKO...I was waiting for a close today or open below lower CBB (Crazy BBand) before shorting, otherwise I will go long....i.e. look at ITG, close below CBB on friday went short this morning as it crossed lower CBB...a quick scalp. If it opens below CBB tomorrow I will ride it down.
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nikoschopen
2,824 posts
msg #58971
- Ignore nikoschopen |
1/14/2008 2:42:56 PM
Short GLD @ 89.45. Kill me if I'm wrong on this one!
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