Louetta's Lore

[Louetta]

Get this poormans guy over here. He seems to like some of the same stuff that I do. I bought BTJ yesterday- checked my history and got it at $17.53

It moved up to #3 on the IBD100 list this week so you should get a little bounce on Tuesday morning.

Separately, my little experiment with HMSY came to not. Er, naught.

[IIC]

Get this poormans guy over here. He seems to like some of the same stuff that I do. I bought BTJ yesterday- checked my history and got it at $17.53

There was talk of getting Bruce (Poorman) over here a few months ago...I contacted him but he declined...I think it is a "time" thing with him.

I've known him via the net for over 2 1/2 yrs...He and I are different but he's a good/smart guy. He's in my chat...He is also the most prolific poster at IBD Forums...But I don't know why he puts up with them???

He was featured in their old "Smart Investor" column where they featured a CANSLIM Investor...That was about 4 yrs ago???...I had the article on an old computer but I didn't save it...Then, when WON goes on the rampage IBD demands something like $1200 yr to allow him to feature the article on his site...(I don't reveal confidential info...He publically posted this on the Net). BTW...I was interviewed for that column too...But I flunked the first interview...LOL...For Real!

That is BS on IBD's part...For the life of me I do not understand why he stays at IBD Forums...If I was not a trustworthy guy who will keep his big mouth shut when people ask me to keep things confidential I could tell you horror stories about what IBD has done on a legal basis to many people I know...It is difficult to fight someone legally who has deep pockets...But it is possible...But most times it is just not worth it.

Maybe the above will shed some light on why I dislike IBD...It is not the system(which I think has major flaws since 2000)...not the data...It is the "God Almighty I Have More Money Than You" attitude that I see that I don't like.

Ya know...I owned the following domains for almost 2 yrs because some joker at IBD forgot to renew them... DailyGraphsOnline.com and .net and DailyGraphs.net. That's where Louetta took issue with me at another forum back circa Feb 2004 (No biggy Louetta)...Did IBD ever come after me even though they knew I owned them????...NO!!!...Ya know why???


Anyway...I hope these sales people I talk about in the "Chopping Down The IBD Beanstalk" thread I started get their $30 million...But my guess is they won't get much of anything....But the lawyers will IMO...Doug(IIC)

[Louetta]

Methinks Poormans sticks with IBD Forums because he enjoys helping people, gets something out of the commentary and occasionally picks up a subscriber. I doubt he really makes any connection between the forums and IBD therefore his differences with them don't come in.

[skiracer]

Methinks Poormans sticks with IBD Forums because he enjoys helping people, gets something out of the commentary and occasionally picks up a subscriber. I doubt he really makes any connection between the forums and IBD therefore his differences with them don't come in.

Are you still a subscriber at the IBD forums? Do many of them know about Ernie's forum? Are there any knowledgeable people over there putting up some of their own analysis and picks or are they all IBD 100 followers? How about you? Are you doing much of your own scanning and analysis or are you strictly following Bruce and his picks.

[Louetta]

Are you still a subscriber at the IBD forums? Do many of them know about Ernie's forum? Are there any knowledgeable people over there putting up some of their own analysis and picks or are they all IBD 100 followers? How about you? Are you doing much of your own scanning and analysis or are you strictly following Bruce and his picks.

I'm still there. Hard to say how many know about this forum since its been a while since he's been there and if there are any references to him I doubt many people would know who was being talked about. Every so often someone will ask what forums people read and often someone will mention this one. Right now I don't think there is anyone besides Poormans who posts consistently and is worth following. Every so often someone posts something worth reading but it takes some looking.

I do a couple of things besides following Poormans. In my largest account I'm restricted to a universe of about 8 funds in which I can invest so I try to do some market timing stuff to see when and which fund(s) to invest in. I also do a fair amount with covered calls, though I haven't done anything since the May expiration. I look for opportunities amongst the stocks suggested by the model associated with the Little Blue Book Of Stocks All You'll Ever Need or whatever they call it. Finally I watch a basic chart of the major indices and when conditions look favorable look for stock candidates among the leaders of the IBD groups based on their charts. I try little experiments like buying HMSY on Thursday or options on special situations like HSOA kind of for fun-sies.

[skiracer]

I'm still there. Hard to say how many know about this forum since its been a while since he's been there and if there are any references to him I doubt many people would know who was being talked about. Every so often someone will ask what forums people read and often someone will mention this one. Right now I don't think there is anyone besides Poormans who posts consistently and is worth following. Every so often someone posts something worth reading but it takes some looking.

I do a couple of things besides following Poormans. In my largest account I'm restricted to a universe of about 8 funds in which I can invest so I try to do some market timing stuff to see when and which fund(s) to invest in. I also do a fair amount with covered calls, though I haven't done anything since the May expiration. I look for opportunities amongst the stocks suggested by the model associated with the Little Blue Book Of Stocks All You'll Ever Need or whatever they call it. Finally I watch a basic chart of the major indices and when conditions look favorable look for stock candidates among the leaders of the IBD groups based on their charts. I try little experiments like buying HMSY on Thursday or options on special situations like HSOA kind of for fun-sies.

Well glad you're here now. Bruce would be a welcome addition to our group and probably would bring some of his following from IBD over here with him if he came. Besides nothing says that he couldn't do both. I've suggested it to him in the past but he wasn't interested. I guess he knows that you have started posting here. Anyway it's always nice to get new people with fresh ideas and smooth shoulders that can develope interesting thoughts on trading. I'm out of HSOA for the 2nd time. This time for a loss though. I still have faith in the stock an would re-enter if the setup looks right. I like the HMSY play and still like the stock for a move up from Fridays close. I have it on my watchlist for a possible entry this week. I'll post a chart on it later or tomorrow with my take on it. I think any pullback to the $14.25/14.00 area would merit an entry. One thing that I like alot about HMSY is that on the daily over the past week or so all of it's daily lows have been higher than the preceding days lows. To me it's a sure indicator of upward momentum. Watch for a small pullback the beginning of this week. This is easily a $16/17 stock over the short term and is setting up for a nice swing trade.

[skiracer]

Louetta,
I don't remember if you exited the trade in HMSY or not. Here's the chart and what I think on this stock. I like it and will be watching for an entry this coming week if it goes as I expect. Check out the weekly chart. It's a beautiful formation as is the daily. I'll be playing the waiting game though as I think it will definitely pullback on Tuesday which would be a good thing.



Karel,
I thought that it wasn't to large myself. After all it wasn't infringing on any of the advertisements on the right hand side. I've been down sizing them before I post them but forgot to do it on this one. Sorry. At least it gave you something to do this Sunday afternoon.

[Websman]

I'm an IBD forum reject...jejeje

[spikefader]

Ski, I agree HMSY is in bull mode. I'd count it different from yours. But your mid July 'c' aligns with my fuzziness. From that mid July 'c' I'd count 5 with correctives to 'c' where you have your '4' in August. From there, another subset of 123 (still in the 3 now) within a bigger count of 5. So where you show 'b' now, that's a '3' in my fuzzy count. Look for 3 end, 4 down, 5 up, abc correctives, then another bigger 5 to come.

Other bullish thing: The monthly candle/bollinger band action for August is very bullish, with it's closing value well over the upper band (100&2.5 settings). See the last monthly chart here http://technicaltrades.net/bollinger...psar/hmsy.html I think it wants to see 36.00 long-term, and prior to getting to 36.00, any over-reaction weakness back to 11.50 support should be viewed as a worthy discount buy opportunity.

Timing an entry here, one should probably be targeting relatively short....maybe +7%-+10% gain or similar....one could either get aggressive and chase this late daily 3 up right here for about a point or so profit, exit to wait for the 4 down to reenter long, to look for a point and a half or so.

For the patient multi-month swing trade (+150% profit type trade) I'd be waiting an 'abc' corrective in about 6 weeks?? to buy the 'c' and ride up to 36.00 resistance.

But solid pick, Ski; good luck with it!

[Louetta]

[QUOTE=skiracer;63392]Louetta,
I don't remember if you exited the trade in HMSY or not. Here's the chart and what I think on this stock. I like it and will be watching for an entry this coming week if it goes as I expect. Check out the weekly chart. It's a beautiful formation as is the daily. I'll be playing the waiting game though as I think it will definitely pullback on Tuesday which would be a good thing.

I got out starting around noon Friday when it seemed unlikely it would finish over 15. I'm going to watch it this week and if it appears likely it'll finish above 15 this week I'll start sneaking in gradually. I agree the chart looks great but my strategy was strictly to play the "IBD100 enter near the top" bit.

[Louetta]

I'm an IBD forum reject...jejeje

Gosh! Maybe Groucho Marx' old quote has application here.

[skiracer]

[quote=louetta12001;63419]

Louetta,
I don't remember if you exited the trade in HMSY or not. Here's the chart and what I think on this stock. I like it and will be watching for an entry this coming week if it goes as I expect. Check out the weekly chart. It's a beautiful formation as is the daily. I'll be playing the waiting game though as I think it will definitely pullback on Tuesday which would be a good thing.

I got out starting around noon Friday when it seemed unlikely it would finish over 15. I'm going to watch it this week and if it appears likely it'll finish above 15 this week I'll start sneaking in gradually. I agree the chart looks great but my strategy was strictly to play the "IBD100 enter near the top" bit.

I'll be posting if I enter or not. I think the chances of a pullback on Tuesday are greater than a move up on Tuesday. I will definitely be looking for an entry after any pullback.

[DSteckler]

Re: HMSY

I agree the chart looks great

Doesn't look great to me. Looks very extended. Thursday was very close to a doji bar on very heavy volume (i.e, a distribution day) and Friday was a bearish engulfing bar on greater than average daily volume.

[skiracer]

Doesn't look great to me. Looks very extended. Thursday was very close to a doji bar on very heavy volume (i.e, a distribution day) and Friday was a bearish engulfing bar on greater than average daily volume.

Dave,
Did you happen to read my post on the play. I'm looking for a pullback before any entry. And saying that the chart looks great was more likely to mean that it does look great by what it has been doing wouldn't you say not to be confused with let's buy it at the open on Tuesday. Wouldn't you agree that it would make a nice setup on any pullback to $14/13.50 range? It does look like the momentum is pointing up with consideration given to watching for normal consolidations after it runs up a bit. Isn't that what stocks in uptrends do? I do agree with you that at this point it wouldn't be feasible to buy before some consolidation. I don't have the raw data for Thursday but from looking at the 15 min. chart it looks like it closed up which wouldn't necessarily make it an accumulation day but definitely not a distribution day either.

[Louetta]

Doesn't look great to me. Looks very extended. Thursday was very close to a doji bar on very heavy volume (i.e, a distribution day) and Friday was a bearish engulfing bar on greater than average daily volume.

Well like Skiracer said, Tuesday looks poised for a down day. Thursday and Friday methinks were skewed by the IBD freaks like me so I don't know. We have the season against us too. So. If Skiracer says hold off and I'm not buying and you don't think it looks so great its not a great time to jump in I guess.