C long/short spotting - should we have a dedicated thread?

[spikefader]

CHNR now +10%

[Runner]

Spike, I think AAPL is puting in a C. Might bounce from here?

[Runner]

Here my chart on Apple

[spikefader]

Spike, I think AAPL is puting in a C. Might bounce from here?

Yup, great observations there Runner. I just did a quick count and it's got 5 distinct waves up from 48.00 with subwaves in each, and now the abc you've noted. Good spotting. Neckline break of the intraday SHS down at 64.10 was the gold medal entry.

Intrday pivot of 66.19 might be worth taking, with a 2% stop at 64.85 that's under some price support.... If you target 79.00 then the r/r makes it a nice 10.

[Runner]

Hey Spike ya think HANS is a short?

[spikefader]

CERS sets up long now

[New-born baby]

Target?

Spike:
What's your Target on CERS? I picked up some at $12.33 . . . .
I'd like the experts target and stop, pretty please with sugar on top!

[spikefader]

OK folks ......

[New-born baby]

5 stars already

OK folks ......

Spike,
You've acquired 5 stars already. Can't give you anymore, can we?

[kc14526]

Target

Spike:
What's your Target on CERS? I picked up some at $12.33 . . . .
I'd like the experts target and stop, pretty please with sugar on top!

I appreciate these posts as well! It would also help to know expected targets for all of those patterns so we know when to take our profit and run.

Thanks very much!

[spikefader]

Spike:
What's your Target on CERS? I picked up some at $12.33 . . . .
I'd like the experts target and stop, pretty please with sugar on top!

hehe just a monkey at the wheel! But certainly Sir! I'm thinking 24.20ish....
I view today's drop as just another handle to buy.

[New-born baby]

CERS: a 2 bagger!

A 2 bagger??!!! Oh if it will be so!

Thanks for the tune-up!
Out AAPL: what a bull! Almost, and should have, turned around and went long it. DOH!

[spikefader]

I appreciate these posts as well! It would also help to know expected targets for all of those patterns so we know when to take our profit and run.

Thanks very much!

Kewl.

OK, you want to be targeting optimistically but realistically.......and I think it's a regular occurrence (at least in current conditions) that you'll see another 5 impulses. And 5 more waves is good for at least 15% I think; sometimes more, sometimes less; depends on the chart. Price resistance will vary from chart to chart naturally, but good point. I will try to remember to add a price resistance target off a weekly or monthly chart as well as assuming at 15% or better 5 wave target.

Now if you're really nimble, you might like the setups posted and risk 2% buy your system or routine only target 4-10% in the 1st or 3rd waves, exit and hop on another. All depends on what you are comfortable doing, how many positions you want to manage, and how much time you give them.

Many will fail or come back to tag your breakeven stop out, some will run real nice; maybe even a big gap up you can enjoy on volume that you throw into your long-term port. Some will start off well, then stall and break the impulsive nature of the chart....then it's time to hop off I think.

[spikefader]

Spike:
CERS...and stop

forgot to address the stop. OK, a stop under low of day from your entry is 5.1%, which is good considering the target. I wouldn't hold it long if it drops below today's low. There will be another buying opp for it soon enough; maybe the gap or gap fill....
Remember, 'c' hasn't confirmed that it's in yet (by trading higher than yesterday's high).

[Runner]

sPIKE, using a 13 min intraday chart I think CERS needs to clear 12.40 area before it is out of the woods.