MY PICK IS ELN

[spikefader]

spike what does your chart say ?

It's all good , 'cept the count has me confused today. Is this a 'b' up? Sheesh I dunno.

But channel-wise, it's clearer. Anyone wanting aggressive long tomorrow, take the pivot. If you're targeting 27.00 and still want a nice r/r then you don't wanna risk more than about 5% on it. Too rich for my blood, but maybe someone has tolerances considering we are likely looking at a 5th up on the weekly.

[noshadyldy]

Eln

Well Cap'n.. the boat was sinkin', wanted to protect my ass ets, so I jumped, ya know. Now i'm out here with nothing but my water wings an' I can't find the dingy!!!

What to do, Cap'n Spike? WHAT TO DO????

[spikefader]

Well Cap'n.. the boat was sinkin', wanted to protect my ass ets, so I jumped, ya know. Now i'm out here with nothing but my water wings an' I can't find the dingy!!!

What to do, Cap'n Spike? WHAT TO DO????

lol hilarious.

OK, today's 2% risk play for it. How long is this 'c' gonna be? Lord knows; just play the numbers til ya get it right.

Today, if it were me I wouldn't chase this now....but bid 15.22 S2 and be patient. If you miss it, wait for 'c' confirmation and then take the next day's intra pivot if you can find a good logical 2% risk stop under it.

[noshadyldy]

Thanks Spike! You're the Best!

[skiracer]

Well Cap'n.. the boat was sinkin', wanted to protect my ass ets, so I jumped, ya know. Now i'm out here with nothing but my water wings an' I can't find the dingy!!!

What to do, Cap'n Spike? WHAT TO DO????

Noshadylady,

Premature "exit"ation. Patience and take your time to see which way the wind is going to blow. Better to wait until at least 10 AM on these situations to get a better feel for what's going on. A high percentage of these gaps up or down at the open usually end up coming back to the opening price or yesterday's closing price.

[noshadyldy]

Noshadylady,

Premature "exit"ation. Patience and take your time to see which way the wind is going to blow. Better to wait until at least 10 AM on these situations to get a better feel for what's going on. A high percentage of these gaps up or down at the open usually end up coming back to the opening price or yesterday's closing price.

Thanks, Ski. Good point and I will remember it. ( i jus get so noivous!)

[Websman]

Thanks, Ski. Good point and I will remember it. ( i jus get so noivous!)

Emotion is a traders worst enemy... This is all covered in my VTP. However, Noshady...You are a superior trader.

[spikefader]

Will wait a minute guys. Don't be too critical here. We don't exactly know noshady's entry point and plan. She could have been following her plan perfectly and is now hearing criticism because of it. If she was trading her plan, then she should be commended with highest honors.

Personally, I think noshady was wise to feel red fear and protect capital, since today's drop could quite easily have done a full 'c' that extended below the 'a', and she would be regretting not following her rules/gut instinct, whatever it was.

Ski, the problem with waiting to see which way the wind blows is that the wind can blow mighty hard for mighy long, and it's foolish to pretend that ain't gonna happen with ELN when it's in a 'c' down. 'c' downs are corrective right? So why hold through a correction? I'm sure noshady is happy to buy lower (or higher for that matter) if she has to.

So I commend you noshady, on excellent action today (assuming that there was some technical reason for you to have red fear)

Personally, considering recent price action, I've decided to tighten my plan up and protect my gains now. If today's low doesn't hold I'll be taking profits, stepping aside and waiting for 'c' to confirm or try to nail it lower.

Heh webs, what does VTP stand for anyway?

[noshadyldy]

ouch?

Will wait a minute guys. Don't be too critical here. We don't exactly know noshady's entry point and plan. She could have been following her plan perfectly and is now hearing criticism because of it. If she was trading her plan, then she should be commended with highest honors.

Personally, I think noshady was wise to feel red fear and protect capital, since today's drop could quite easily have done a full 'c' that extended below the 'a', and she would be regretting not following her rules/gut instinct, whatever it was.

Ski, the problem with waiting to see which way the wind blows is that the wind can blow mighty hard for mighy long, and it's foolish to pretend that ain't gonna happen with ELN when it's in a 'c' down. 'c' downs are corrective right? So why hold through a correction? I'm sure noshady is happy to buy lower (or higher for that matter) if she has to.

So I commend you noshady, on excellent action today (assuming that there was some technical reason for you to have red fear)

Personally, considering recent price action, I've decided to tighten my plan up and protect my gains now. If today's low doesn't hold I'll be taking profits, stepping aside and waiting for 'c' to confirm or try to nail it lower.

Heh webs, what does VTP stand for anyway?

*********

Such an incredible gentlemen you are, Spike. You're my "champion."

As for my reasons well.. weekend coming up fast, market sliding, major indexes had dipped below their 50dma, fear indicator deeper into fear, and this trade was made with 1000 shares averaging 14.00. It went to 16. I didnt want to risk handing it all back like so many times before (VPHM acts the same way but not as bad and on a lighter scale so does RWC which is good for some swings.) Anyway, as I was saying... the idea of stop at even doesn't always appeal to me. In this case, I wanted to keep a good portion of it, figuring I could jump in when it didn't look quite so volatile.

And webs, as for my quip "i'm just so noivous." ponder that I am not always serious when I am joking. Sometimes I'm just funnin! And as for your statement of me being an oustanding trader.... since it's obvious to all that that is not true, you must be feeling chivalrous. Thank you.
Anyway, I'm beat.
Goodnight websboy
goodnight ski boy
goodnight Spikeboy. (YOUR my hero )
don't forget to turn out the lights and lock the back door.

[kingofthehill]

I see the stock trading sidways from here till the week before the hearing March 7th FDA meeting

[skiracer]

Noshadylady,

Premature "exit"ation. Patience and take your time to see which way the wind is going to blow. Better to wait until at least 10 AM on these situations to get a better feel for what's going on. A high percentage of these gaps up or down at the open usually end up coming back to the opening price or yesterday's closing price.

Wasn't chastising her. Just trying to give her a heads up on how these gaps up and down at the open work out in the first half hour. Big % of them return to the opening price in that first half hour after the gap up or down. My own personal feelings are now that the FDA is getting ready to make some kind of a decision on the drug the tension will be building and the desire to be in for any spikes up will be heightening. Although Friday was a great day to get out at $15.40 or so and buy back in at $14.90 or so. But she did good and it's always good to make sure you get your gains out. I'm holding 4 points in my pocket already so I'm letting this last position ride it out until the FDA decision comes down. My bet is that they give it some kind of an approval if not a 100% ok to resume it's use. After all this time now is not exactly the time to be out of it being that we are getting so close to some decision. I don't think it is going to tank or drop real big from here especially with the recent eps report showing strength. This was a volitaile week throughtout the markets and that played a factor in it. Always good to exercise control and patience before reacting.

[noshadyldy]

[QUOTE=skiracer]Wasn't chastising her.


Boys! Boys! PLease don't fight. <grin>
Actually you both have excellent points and I feel really special that both of you took the time to try to help me. It's so tricky with this one these days. And I am back in already and didn't do too badly at all. But I am the one that kept having those dreams I told you about that ELN takes off like a rocket and I'm pounding on my keyboard trying to reenter as this nationally televised stock event takes place. Listening to the commentators on TV during this, it reminded me of when a shuttle takes off. Let's hope it's not the Challenger.
Anyway, No offense taken anywhere. I truly appreciate the guidance and feedback whenever you are feeling generous enough to give it.
I really do feel very lucky to have you guys that try to help me.
Margie

[spikefader]

@ no shady.

Ahhhhhh it's all good

But Ski, with respect, I disagree that the 'wait and see' at 10am despite a plan to protect profits is the best way to approach it. If price action on a gap down takes you out to protect profits, so be it. Temptation to hold in hope and 'wait and see' may be a receipe for disaster. Hope is exactly the sort of emotion that one has to resist, no matter how many % of the time a gap fills.

But perhaps it was the light-hearted and funny water wings post that projected to ski the exit was hasty and not according to a plan.

As noshady has shared, she had a plan and stuck to it. So well done dudette!

[skiracer]

@ no shady.

Ahhhhhh it's all good

But Ski, with respect, I disagree that the 'wait and see' at 10am despite a plan to protect profits is the best way to approach it. If price action on a gap down takes you out to protect profits, so be it. Temptation to hold in hope and 'wait and see' may be a receipe for disaster. Hope is exactly the sort of emotion that one has to resist, no matter how many % of the time a gap fills.

But perhaps it was the light-hearted and funny water wings post that projected to ski the exit was hasty and not according to a plan.

As noshady has shared, she had a plan and stuck to it. So well done dudette!

Actually that hold off until at least 10 AM strategy really only applies to initial buys whether long or short. Once you're in the position as Noshadylady was you should be sitting with a well placed stop on the position beforehand so the possibility of exiting the position because of getting stopped out is a distinct possibility. As you stated she did well for herself by protecting the gains. You an I on the other hand are still holding and just gave back from $15.95 to $15.27 while we sat on our hands. On my 2000 shares I just gave back $1360.00 over last Thursday and Friday. Jeez, who am I giving advice after that. She is a dudette! Yes that's the story, it was those water wings that took me off base. I've always been a softie for those water wings.

[noshadyldy]

Oh my... (the warmest of smiles coming over my face)

GROUP CYBER HUG WITH YOU TWO GUYS!

m