Steckler's Star Studded Stock Picks

[spikefader]

The left shoulder is 23.41 on 12/7, rather than 24.95 on 11/21. You look for the high that followed the dip before the drop to the inverted head. The chart below explains cuz a picture is worth a thousand words....<g>:

http://www.ttrader.com/mycharts/display.php?p=38377&u=dave&a=MyCharts&id=690

There are technicians who will hold that the December dip is too shallow so in that case, Spike, your using the 24.95 mark as the left shoulder would be correct.

Ya, thanks. I used the shoulder that 'looked' the best, however unscientific that may be I don't think it matters a great deal. I sure won't be playing a GM inverted SHS cuz I calculate that it's toast at this point in time.

[spikefader]

..BTW, Bulkowski wrote in SFO that he's a lifetime 49% trader.

heh, ya I heard that about the 49%. I assume that was his win probability. Did he say what his win/loss ratio was? He needs 1.6% before it becomes profitably worthwhile doesn't he?
I could have a win probability of 99% yet go broke if my average winner is 1/2% and my average loser is 4%.

GM: my original plan was buy GM under $20 and sell the $20 JAN calls on 2/3 of my shares. (I did). The 1/3 that I kep I was going to hold through earningings (1/26/06), the 50 cent divy (2/8/06), and perhaps hold as long as a year or more in anticipation of Long Term Capital Gains (LTCGs). When the calls expired with value, and yet they were not called away, I got nervous and sold my entire lot yesterday morning when GM hit my stop.
Then last night I am checking the chart, and GM has a chance now for a nice upmove . . . DOH!

Chance yup. Is it a worthy trade? That's debatable. Buy your 'system' is different than mine naturally. I note that 'c' short failure was a tradeable bull trade. When they fail, they often fail big, which is why the other side of 'c' is where you wanna bail. I note that channel short I posted about yesterday it's working thus far. I don't think GM is outa the woods yet though.

[DSteckler]

<< I sure won't be playing a GM inverted SHS cuz I calculate that it's toast at this point in time. >>

We're on the same page there, Spike.

[DSteckler]

Anyone see news on GI?

Up big today, 7% on a continuation gap. The breakaway gap was on 1/20.

[DSteckler]

Nice move on EME

Didn't see any news but it's a nice breakout move today that made a new ATH.

[New-born baby]

Toast

<< I sure won't be playing a GM inverted SHS cuz I calculate that it's toast at this point in time. >>

Well, I do figure that earnings may disappoint . . . and if the earnings don't, then the oil price will

[DSteckler]

Sold DSS

Bearish engulfing bar action today. The technicals are softening so I executed a two part exit strategy:

1) Take the money, and
2) Run.

An 11% gain in two weeks. I keep forgetting who recommended it but thanks!

[DSteckler]

PD following through

Back above the 20-day EMA on average volume for this time of day. Should it fail here a H&S top pattern is now completed with the neckline at 136.50.

[New-born baby]

Bearish engulfing bar action today. The technicals are softening so I executed a two part exit strategy:

1) Take the money, and
2) Run.

Nice strategy, Dave!
GM is moving up, baby
Hey, how's that FDG moving for ya, huh? You'll like those divys, too.

[spikefader]

..11% gain in two weeks. I keep forgetting who recommended it but thanks!

It was sekto. When did you buy DSS? I searched but can't find your entry post.

I do recall you saying it was a rising wedge at some point though.

[DSteckler]

<< When did you buy DSS? >>

I think it was 1/10, Spike.

[DSteckler]

IFN triple top

And that large gap lower on 12/28 was due to their paying a dividend. The pattern is also a rising right triangle.

This play is part of my International ETF rotation model. It's been on fire, up an average of almost 56% per year since 1/1/03 (real money, not paper trades). The IFN position (entered 12/28/05) as of yesterday's close is up 10.4% and it's up another 3% today.

Schweet!

[DSteckler]

What's not to like?

SID continues climbing that rising trend channel in place since late October. Steel company with a 12% dividend.

[New-born baby]

How did I miss this one?

SID continues climbing that rising trend channel in place since late October. Steel company with a 12% dividend.

How in the world did I miss a 12% divy? These are my kind of plays.

[DSteckler]

It's a nice one, alright. I've owned it for a while and every time it drops and I start biting my fingernails, I forget I own it and it comes back and then some, sooner or later.