MY PICK IS ELN

[spikefader]

Greetings Spike,

I missed it,should have had the guts to trade the setup,I need to look fro a little strength to sell into.Was ready to pull at 12.50,and down she dropped before my eyes.

cordially Tom

I'd let it go for now dude....I think ya missed the bus and it's gonna be hard to trade from here I think.........maybe sell the fib retraces from 13.50 to the low, which are 12.68 (50%) and 12.49 (38.2%).

Volume suggestive we may have seen the low for today.....I'd stalk it a while longer if I were you......while I see what I can make of the count.....perhaps look for a 'c' short somewhere.....

[spikefader]

OK, what have we got here......... ELN is doing an expanding daily channel long, and there is a distinct inverted SHS forming now.....the R shoulder forming as I type. A setup long is buy 12.10 with stop under lod, which is only 1.8% risk....

I'd caution against shorting this for now......

[spikefader]

ELN long setup: Not sure I see the r/r as worth it......

[spikefader]

OK, I covered here taking 16% profit on the short. I'll look to reshort it if it sets up.

[TFred]

Greetings,

Gotta love volatility,someone with ''chops'' is making money.

cordially Tom

[DSteckler]

When did you short it, Spike?

[spikefader]

For shorter's interest, ELN now at the 38.2% retrace area and stalling a bit.......

perhaps a play is short 12.45 with .15 stop to target new lows to target 10.00 pretty good r/r there.

[spikefader]

Here's the setup.....you're obviously aiming for the inverted SHS to be overcome by the fact that it's still a 'c' failure gap down day on high volume and for the next hour may dribble down to lows.....

[spikefader]

[skiracer]

This is almost exactly what it did the last time is fell to these areas. Stopped and bottomed around $12.20/12.40 area and reversed. Went on for some considerable gains after that. If I remember correctly your entry was $12.58 or so that day. I like it long from here but will wait for tomorrow. This is real cheapo right now.

[spikefader]

When did you short it, Spike?

14.65 after the news got sold. Risk at the time was 1%.

http://www.mrmarketishuge.com/showpost.php?p=41619&postcount=1049

[noshadyldy]

stockchart reversal

stockcharts now bearish to projected 8.00. states double bottom failure of today's date

[spikefader]

This is almost exactly what it did the last time is fell to these areas. Stopped and bottomed around $12.20/12.40 area and reversed. Went on for some considerable gains after that. If I remember correctly your entry was $12.58 or so that day. I like it long from here but will wait for tomorrow. This is real cheapo right now.

Well the count was very different ski. Back then it was a 'a' correction. Today, it's following a 'c' failure gap down on volume. And this time there is volume by price overhead to fuel the drop... I'm not so certain it's gonna bounce from today's low......12.88 should resist hard.

I'm going to stalk that area for another entry. That'll be the 61.8% retrace of that last impulse down, and also the inverted SHS target area. Tom, that 12.88 area might be worth 2% risk to target 10.30 for r/r of 10.3......

[spikefader]

12.88 .... worth 2% risk to target 10.30 for r/r of 10.3......

Short 12.84 and I'll give it 4% risk for now.

[spikefader]

ELN intra TA


there is a little neckline break