FA help...

[IIC]

My buddy said he has a TA book for me to read. I think it is from a guy named William O’neal. Have you herd of this guy?

HERD...Sounds like a bunch of mindless cattle...LOL

My buddy said he has a TA book for me to read. I think it is from a guy named William O’neal. Have you herd of this guy?

[IIC]

Here is another question to the general board. What parameters must the market be in for you to take your FA stock long? Like maybe the 200dma or 50 are something like that.

Not so simple...Look for the the best stocks in the best moving groups(Not necessarily the Top Groups...The Moving Groups) is a good idea IMO.

IBD groups are very laggard except for the Daily movers...That's why I have to keep them myself...Doug

Here is another question to the general board. What parameters must the market be in for you to take your FA stock long? Like maybe the 200dma or 50 are something like that.

MM, I have a question for you. If one of your picks turned 15% today would you be buying another stock next week?

Hey MM, what up with my FA picks? They been farting around for a good while now.. Sorry about getting off topic with some of my short term trades. I just can’t see buying these jokers right now. This could have a huge negative impact…I only favor scalp plays and maybe short term trading at this time.

stopped on rest on gol..

Picked up a little GOL for short term trade.

trim gol trail rest.

Trend read on Energy:

Monthly flagged huge reversal this month and currently testing lows from March and April. Monthly lower trendline is currently being tested as well. Monthly suggests possible support around April’s lows.

Weekly shows wide range bar and test of prior lows. This weekly trend is still intact and currently sitting at a very critical area right here. Failure at these lows will spell possibly huge trouble.

Daily shows Energy gaps down after putting in new highs. This is mostly a huge caution flag for longs. Stock drifts up and sets up as a short off gap retest that failed. Sitting at support and this need to hold or this thing is in huge trouble.

Recap:
Monthly-Reversal to downside @ support
Weekly- Wide range bar sitting at critical support
Daily- huge sharp drop sitting at support

Based on review I do think a possible bounce in Energy is possible. How long will this be if it happens? I have not a clue.

I see possible positive action in NRB. The 60 min chart is currently trying to pop out off the downtrend trendline channel. Daily showed a little better action as well. I’m not a bottom picker and will monitor this stock for an entry. Stock does have some R to work through.

I like NBR, but one can’t argue with the current market trend. I’ll be searching for an entry MM. I guess maybe a FA/TA approach.

[mrmarket]

so much for the fundamental analysis!!

NBR-weekly lower channel around 30.65. Stock under pressure today.

Missed NTRI as it is doing well today...