Jim's cycle trades

[Lyehopper]

You just charted a H&S top, Lye, not a H&S bottom.

Yeah I know Dave.... That's why I'm questioning Jim.... I see MRK no where close to testing an inverted SHS bottom. I thought maybe he made a mistake in his terminology or something. What? Is he targeting $37?.... If so, why not say so?

You just charted a H&S top, Lye, not a H&S bottom.

[Lyehopper]

watching for a throw back to the neckline of the head and shoulders bottom pattern.....I will be buying on the test.

What are you talking about Jim?.... A "head and shoulders bottom pattern"?.... Are you looking at the intraday? What?.... A two day chart showing a left Shoulder yesterday?.... The head today.... And speculating where a neck line may form for a right shoulder?

Damn! it would be nice if you would post a chart with these comments dude.... It only takes a couple of minutes.

MRK reversing

watching for a throw back to the neckline of the head and shoulders bottom pattern.....I will be buying on the test.

$45.35 breakout today.....this one has a long way to go

Extremely low volume, low ADX, and an overbought stochastic suggests the breakout is not sustainable. The last two times SYK rose above its 200DMA (January and March) it fell back below a few days later.

SYK....huge symmetrical triangle b/o

$45.35 breakout today.....this one has a long way to go

Use weekly chart when studying DMI

MHK negative DMI doesn't touch 40 exactly....Use the relative level compared to other peaks over the last several years.....They all have led to rallies.

[mimo_100]

MHK has a negative DMI around 40....over the last five years, whenever the DMI negative reached this level, the stock rallied, somethimes 50%

I charted MHK and looked at the DMI (using stockcharts Wilder DMI)
It appears to spend most of its time below 40. What are you referring to?

Thanks.

Tim

[peanuts]

I even added a squigly comment... I just love to see those

Got out of LRCX at 40.45 today. It may test 13 day MA at 40.83 and fall, so I'll take what I've got.

Thanks, Jim, I wouldn't have traded this if you didn't post. The squiglies never lie.

saw article folks traveling to india

for hip replacements....nothing new but USA Today helping the story go mainstream....also, medicare will take a break from cramming cuts down hospitals throats, it's an election year you know.....ZMH and SYK will roll

SYK breaks 10 month downtrend

long.....there's some insider buying reported today as well

[Rob]

Thanks, Jim

Interesting way to look at the DMI, Jim. At any rate, great find on MHK this morning! It's up 8.5% right now as I'm looking at it.

one more

MHK has a negative DMI around 40....over the last five years, whenever the DMI negative reached this level, the stock rallied, somethimes 50%

This thread is dying

a bragging thread is more active.....sheesh


AMGN tested is broken downtrend dating back to Nov 2005 yesterday.
ISRG broke a huge symmetrical triangle to the downside yesterday
CHK is moving up from a head and shoulders bottom target is $35.70

Isrg

huge pennant formation....Breaking to the downside in after hours trading....measures down to around $54