MY PICK IS ELN

[spikefader]

And added on the neckline break at 12.62.

It's a steep inverted SHS this one, but it's looking strong, so I may at last have the perfect entry!

[spikefader]

spike, where is the S2 coming from? I've just been looking at the Fibs based on low in mid october to high just 2 days ago.

The S2 I'm looking at is the one generated by quotetracker. Anyone looking for pivots, it's under 'select indicators' in the upper indicators under 'pivots'. It places S2 S1 Pivot R1 R2 on the intraday chart that you select it for. If you want it to apply globally, you've got to right click the chart and save the chart template as your default.

[spikefader]

Now there's a better looking intraday inverted SHS. Anyone not long at this stage and looking, wait for the neckline break 12.69 and buy it. It is a valid good looking setup with stop under lod. Or you could buy here at 12.65 in anticipation of it.

[spikefader]

And there goes the neckline and it should run now. My average 12.59 with a 2% stop on it now. I'm gonna go ponder this morning's action and make sure I'm correct holding bullish bias.

[spikefader]

Bears surely must be worried here. Price still holding here. People stalking ELN and looking for a setup with a sub 3% stop, this is it. This is 100% valid setup with great r/r. 3% risk to target the big gap fill at 44.17 or 247%. That's a r/r of 98! Now that's a huge r/r.

Even if you target short at the 16.45 price resistance that's within the big gap, that's still 29% profit with r/r of 11! Sweet dudes.

[noshadyldy]

Thanks Spike!

Now I gotta tell you all 'bout a dream I had the other night, so pull up yer blankies and gather 'round. It was like the watching of ELN was a national televised event. The crowds were all gathered around these huge monitors and suddenly "it lifted." The announcer shouted "there she goes, she's off!" The stock started climbing and climbing, the crowds were literally cheering. It was like watching a space shuttle take off. (hope it's not the "challenger.") Anyway, I was momentarily "out" of the stock at that time and there I was frantically trying to get back in and my system locked up. I was pounding away at the keys and nothing happened. That's actually the second dream I had of that thing taking off and my being on the outside of it at the time. Needless to say, I'm always into it to some degree.
What a frightening dream, worse than the one where you get caught naked in a crowd. (oh who am I kiddin, that one's my favorite.) <grin>

[Thomrich]

Greetings ,

Spike just thought Id let you know I shoulda left EENC alone as you suggested,got stopped out and it still is droppin.Lokks like 12s around the corner.

cordially Tom

[spikefader]

ELN: I really would be surprised if this pattern fails. But I'm wondering where the volume is..... oh it'll probably show up when all the fat cats get back from lunch

[spikefader]

Are these charts helpful or should I move 'em to my thread and not hijack yours King?

[spikefader]

The announcer shouted "there she goes, she's off!" The stock started climbing and climbing, the crowds were literally cheering. It was like watching a space shuttle take off......I was frantically trying to get back in and my system locked up. I was pounding away at the keys and nothing happened......

Terrifying dream! hehe But I can think of a worse one; seeing ENE plunging, and pounding at the keys trying to enter a market order to exit your retirement ENE stock with nothing happening! Those crooks should be forced naked and whacked with sticks for every share that they manipulated with their wicked skullduggery. But more pleasant sights I can happily imagine

[noshadyldy]

I'm wondering where the volume is..... oh it'll probably show up when all the fat cats get back from lunch
Right on Schedule! lunch over and price is moving again.
(off topic but ... anyone see the Family Stone? Go see it but tell wife to bring the hankies.I wasn't forewarned and was just short of resorting to use of my neighbors sleeve. It's a slow starter but then turns into a terrific movie.)
Ok where were we... oh yhea... GO ELN!

[Runner]

Spike, awesome call here on ELN. I had to go to the dentist and said heck with this just get out. Well you made a very nice play on ELN off that s/h/s. Now let it rock on for you.

I had a feeling it was still under pressure and had not clue where it was going to stop. Hey Spike you got the perfect entry..lol

I’m out of here—finished the season slightly ahead of goal

[Thomrich]

Greetings,

Diidnt mean to post EENC on this thread,thought I was on Spikes,sorry King.

cordially Tom

[spikefader]

Tom,

Bad luck bro. Dust off, analyse what you missed, note the important TA failures/lessons and modify if necessary. I wonder how that straddle would have paid. I didn't note the prices at the time, but it was definately the better option in 20/20 hindsight. Out of money or near money calls and puts, and this nice volatile move down rewards the play. Quick glance at those Jan 20 puts show 4.00x4.30 and they may have cost you 0.50 back there?? So that's a 9-bagger on them, and you offset the cost of the out of money calls for the straddle and you've still got a wonderful profit. Ah well, who was to know for sure it was gonna move....

But it sure looks in trouble now with that major bust.....

Best to ya.



check out that money flow zero line reject; was the whisper....add to that the weekly gap failure, and there's your recipe.

[spikefader]

And speaking of straddles, let's look at those quotes for Feb straddle position for ELN, the stock of the day

Straddle play here:
Long 7.50 strike Feb puts for $0.20
Long 20.00 strike Feb calls for $0.20

A fast 5 point bull move should net a 27 bagger on each???
A fast 5 point bear move should net a 36 bagger on each???
These are guesses.
A slow dribble stock price move will cost you minimal amount considering those premium prices. Say you buy 10 of each; it costs you $200 for the calls, $200 for the puts, add your commission of $20 (only one way cuz if they don't move you won't pay to sell 'em, and if it does move then you won't care about the 20 bucks exit fee haha). So all up, the play costs you $420. And if it actually MOVES one way or the other, you're in for perhaps $5,000 profit or +1100% after you deduct the losing part of the play. Pretty cheap way to get a r/r of 11 and an amazing profit. But it's gotta move. Snails will kill straddles, but when they're this cheap does it matter? When you're covered both ways it seems like a good play to me. Either the setup long here is right or it's wrong. Usually the setups I find are either big time right or big time wrong (which is why I love tight stops).

Let's see how it pans out; I'll revisit those quotes in a month or so...