The Independence Day Top 5

[New-born baby]

Huge? You had to ask?

New-born,
I'm still not sold on these patterns. Does the time period the pattern took to form mean anything ? You're talking about a cup that took over 2 years to form. With PTSI it took something like 4 years. Are all these shapes relevant regardless of formation time ? If not , at what point do you look for the new shape?
-----------billyjoe

Frankly BillyJoe, I am disappointed that you had to ask. You are a long time member of Mr Market is HUGE forums and have received the finest education on planet earth about HUGENESS, and yet you have not grasped the concept that HUGE IS BETTER. What more could have possibly been done for you? Where did we fail you?

Humongous patterns or smaller patterns are all significant. Usually the larger the better, but of course, slower developing. Basically patterns work in any time frame.

[New-born baby]

Nss

Well... I still like NSS

NSS successfully busted resistance and retested support. I think tomorrow is a great entry for this one. I might buy some myself. $79 target with this successful retest.

[billyjoe]

Frankly BillyJoe, I am disappointed that you had to ask. You are a long time member of Mr Market is HUGE forums and have received the finest education on planet earth about HUGENESS, and yet you have not grasped the concept that HUGE IS BETTER. What more could have possibly been done for you? Where did we fail you?

Humongous patterns or smaller patterns are all significant. Usually the larger the better, but of course, slower developing. Basically patterns work in any time frame.

New-born,
Are you saying that if the smaller patterns don't work you go to a larger one until one does pan out as predicted ?

------------billyjoe

[New-born baby]

New-born,
Are you saying that if the smaller patterns don't work you go to a larger one until one does pan out as predicted ?

------------billyjoe

No. I am saying that patterns work in any time frame. For example, a pattern on a one minute chart is what I look for when I am daytrading. Today I was daytrading ACI and BTU and STLD. ACI had a huge head and shoulder pattern that developed over a four hour period. The neckline broke and she fell down just like the textbook said she would. I daytraded this one short while I am trading this same stock long on the daily and weekly charts.

An easy illustration would be the elliott wave theory. Elliott said that there a five waves to a stock movement, followed by an ABC correction, followed by another 5 wave movement. Furthermore, he said that within each wave could be found a 5 wave movement with an ABC corrective. So you see that patterns work in any time frame, and they are all legit. A pattern on a one minute chart, within a pattern on a daily chart, within a pattern on a weekly chart, within a pattern on a monthly chart--they are all legit. And the one minute pattern is fulfilled within the pattern on the daily within the pattern on the weekly within the pattern on the monthly--they all work.

Lastly, you should look at a chart that is approximately 6-8 times longer than your planned hold time. If you plan to hold for a week, then the chart which you look for patterns to trade should be at least 2 months.

[billyjoe]

New-born,
But what percentage of the time do they work?

----------billyjoe

[New-born baby]

New-born,
But what percentage of the time do they work?

----------billyjoe

Successful patterns vary according to the type of pattern. But chartists will say that a pattern matched with another indicator (STO, RSI, CMF, etc) are about 80-85% correct, which is more than enough for consistant profitting.

[billyjoe]

New-born,
Mr.Market has a success rate of 86.32% (82 out of 95) over a 4 1/2 year period and he places little value on charts. How can that be ? Have you ever seen a chartist with a documented 80-85% success rate ?
----------billyjoe

[New-born baby]

New-born,
Mr.Market has a success rate of 86.32% (82 out of 95) over a 4 1/2 year period and he places little value on charts. How can that be ? Have you ever seen a chartist with a documented 80-85% success rate ?
----------billyjoe

I would say, take a chartist with MM's patience to hold a stock into eternity, and yes, the success rate would equal or exceed MM's 86.32%. When Ty Cobb died, the undertaker had to remove stock certificates from his hands. He was an excellent chartist,;D[pulling your leg here], and obviously, had great patience in holding stocks until they reached their targets.

Back to chartists, I would say that probably most do not set a standard 15% target, and hold until that target is realized. Probably most skilled, charting investors let the chart determine the target, set a risk/reward ratio in which to enter a trade, and then are more fluid in letting the chart determine how long they hold a stock. In my case, you have to add in this factor also: I make the options insure my investsments. By this I mean that if a trade moves against me, instead of exiting the trade, I insure the trade, and keep rolling the options downward if necessary, to insure that I exit my position this month profitably. No, it is not 15% every time, but unless a stock gaps downward a HUGE amount, you exit trades profitably.

[billyjoe]

New-born,
I am very familiar with Ty Cobb , baseball great and early Coca Cola investor. Died with 10's of millions in stock and highest lifetime batting average .367.
---------billyjoe

[mimo_100]

Oil and Gas Entry

I ran my MSN high percent screener against the dump and here are the stocks that
were in both:

CCDC,DSW,EZPW,HMSY,ININ,NTG,OMNI,WRLD

NTG is one of the stocks in my high percent screener. The market is at a critical stage right now in my opinion. I like an entry in the 37.50-38.00 area if MrMarket chooses this one. R-squared is 70+, inching up after declining from 85 since the first of the year. The price has doubled since January 1, 2006.

[New-born baby]

I ran my MSN high percent screener against the dump and here are the stocks that
were in both:

CCDC,DSW,EZPW,HMSY,ININ,NTG,OMNI,WRLD

NTG is one of the stocks in my high percent screener. The market is at a critical stage right now in my opinion. I like an entry in the 37.50-38.00 area if MrMarket chooses this one. R-squared is 70+, inching up after declining from 85 since the first of the year. The price has doubled since January 1, 2006.

Chartwise, your plan of entry looks very good to me.

[diogenes]

Just looking at the lines and the scatter around them, I like MIKR.

[studentofthemarket]

New-born,
Mr.Market has a success rate of 86.32% (82 out of 95) over a 4 1/2 year period and he places little value on charts. How can that be ? Have you ever seen a chartist with a documented 80-85% success rate ?
----------billyjoe

We had a bunch of TA peeps on the Investor's forum on CompuServe.

off the top of my head I'd stack John Yurko's success up against anybody.
He was amazing. the tragedy is that he spent too much time on his charts and not enough time on his health. He passed away a few years ago.

We had quite a few others too, they were making money.

my system picked IBCA at 29 and change. It picked BBD long before the huge one picked up on it(didn't buy that one though) TA can make you happy

and prosperous when used in conjuction with FA.

[ParkTwain]

FAL is target of potential acquisition

You might want to consider disqualifying stocks of companies that are "in play" from the Top 5.

[eliaskane]

Fal

After FAL announces earnings July 24th it will jump.

Any opinions on which way FAL will go from here given good earnings announcement, but one of two takeover offers just failed?