Jim's cycle trades

[skiracer]

I was looking at the daily. What a sloppy chart. I see alot of red bars in the volume. I'm surprised it's held up this long. It does look to be begging to be shorted.

[gerihearne]

Jim's dings and dongs?

potential AAPL target is 0.618 x 23.50 range = 14.52 + 62.9 = $77.42....I will say that I think this is the maximum possible move near term, imo....and there's plenty of resistance points between here and there....But, CNBC has the AAPL hype machine ready to roll.....

Jim, can you share a few of your good trades this week? Any bad?
And does AAPL look good for the week ahead?
There's a lot of action on this thread ...
________
TX300

[Jim Smith]

Let me preface this by saying patience is NOT my strong suit. I am in the 12 step patience program and I can't get past step one.

Best trades: long PFE, didn't hold to catch the 5%+ move the very next day! Short the IWM but I was one day too early and got stopped out....DD long, still in this one.
I didn't make money this week because of a lack of patience, nothing else.
AAPL looks good to me as I interpret Friday as a hammer bottom...Nice volume on a day where it makes a new low for the move but finishes well into the prior day's bar.
Long AAPL, DD and DIA puts.

[spikefader]

Let me preface this by saying patience is NOT my strong suit. I am in the 12 step patience program and I can't get past step one.

Best trades: long PFE, didn't hold to catch the 5%+ move the very next day! Short the IWM but I was one day too early and got stopped out....DD long, still in this one.
I didn't make money this week because of a lack of patience, nothing else.
AAPL looks good to me as I interpret Friday as a hammer bottom...Nice volume on a day where it makes a new low for the move but finishes well into the prior day's bar.
Long AAPL, DD and DIA puts.

Good for you. You're able to declare openly that your patience needs work. You probably won't want to do this cuz of the size you trade, but if you posted all your entries real-time or soon thereafter, attaching your r/r to the trade and where your hard exit and target is, your patience would improve. Not only that, but other forum members would be seeing what you're seeing and expecting out of the trade and maybe hitch a ride if they like it for themselves. Guarantee it would help discipline and patience. There's just something about accountability in front of peers that will drive you to focus.

[Jim Smith]

IWM....back in the old upward channel, but near the top....I am looking for a 10% correction into late April

[Jim Smith]

D...shorted....here's another bear flag pattern....target is $63...

AAPL....out....Looks like long plays are quick trades while short plays are turning into investments.

[spikefader]

AAPL....out....Looks like long plays are quick trades while short plays are turning into investments.

64.20 may be worthwhile long.....it's the neckline support from Friday's intraday inverted SHS pattern. Under lod is -2% from that point. Pretty tempting play there.

[Jim Smith]

VPHM....shorted shares....under the trendline....there's a chart gap all the way below $12.

[Jim Smith]

AAPL...long on the take out of yesterday's high

still short CHK, APA and VPHM plus short IWM.

[Jim Smith]

The Dow Jones is NOT topped out till Dupont makes $44....put that in your day planner.....

[spikefader]

The Dow Jones is NOT topped out till Dupont makes $44....put that in your day planner.....

How do ya figure? DD has it's moments of insanity to DOW movement......

[Jim Smith]

I think they're porking everybody in this market....here comes are bull market top coming to a market near you in Q1....That's SPX 1315 and Dow Jones 11375

[Jim Smith]

Spike, my methodology involves repeating last year's moves....DD, take the percentage close this day last year to the early march 2005 top.....Apply that % move to today's close....I bet it comes out to $44.....I love it when it comes together like that.

[spikefader]

Interesting theory... measured moves and historical patterns are certainly valid things in my book. But then again, so are significant bearish pattern failures like the DOW is doing though....

[Jim Smith]

Spike....

VPHM, calculate the % change from this day in 2005 to May 1 of 2005....It's like a 43% decline and apply that % decline to what I think will be the closing price of 19.50....look at a one year daily chart and tell me what you see.....Hint, chart gap at $11.15