MY PICK IS ELN

[DSteckler]

Do you short into impulse 3s very often?

I short into long upper shadow bars where downside volume has been higher than upside volume and the indicators are overbought.

[spikefader]

I short into long upper shadow bars where downside volume has been higher than upside volume and the indicators are overbought.

OK, I'll mark you down as short from 17.58. How big a stop would you like jejeje

[Runner]

I don't see a short in ELN yet. Dave where is your trigger? Dave are you a day trader?

[DSteckler]

I'm a swing trader, Runner. A short trade is based on the bar or formation action. BTW, the bow tie can also be used for shorts by reversing the setup criteria to:

1. The MAs shift from proper uptrend order (10-SMA > 20-EMA > 30-EMA) to proper downtrend order (10-SMA < 20-EMA < 30-EMA). What you're looking for is for the MAs to converge and then spread out again, giving the appearance of a bow tie.

2. Today's high must be higher than yesterday's high.

3. Tomorrow, place a sell short order 1 - 2 ticks below today's low good for tomorrow.

4. If not filled, continue to work the order above the prior day's low good for the next trading day until either filled or the stock trades above its 20-day EMA.

5. If filled, place a protective stop above the highest bar in the setup.

[Runner]

Dave, I don’t see the bow tie formation in ELN. I do see it in the Nasdaq composite index, but the moving average lines are still in tact on ELN… I’m I looking at this bow tie thing wrong? I’m not sure I’m following coopers pattern.

I also see what your looking at regarding the daily bar close today was weak, but I need more then just one day bar to set up as a short. Anyway Dave are you saying ELN is a short under today’s close by .10? Not sure if this is what your keying on. Where is your trigger line of entry for shorting ELN?

[DSteckler]

Dave, I don’t see the bow tie formation in ELN. I do see it in the Nasdaq composite index, but the moving average lines are still in tact on ELN… I’m I looking at this bow tie thing wrong? I’m not sure I’m following coopers pattern.

I also see what your looking at regarding the daily bar close today was weak, but I need more then just one day bar to set up as a short. Anyway Dave are you saying ELN is a short under today’s close by .10? Not sure if this is what your keying on. Where is your trigger line of entry for shorting ELN?

ELN is not a bow tie short. I was speaking in generalities, saying that the bow tie can be used to identify short prospects as well as long prospects.

[sisterwin2]

ELN is not a bow tie short. I was speaking in generalities, saying that the bow tie can be used to identify short prospects as well as long prospects.

I think you guys will jinx ELN talking shorting it......pls refrain from that word with ELN

Joking of course.

[DSteckler]

Still short ELN

Daily stochastic rolling over to the downside from an overbought position. Will look to cover at or near the 20-day EMA, currently at 16.19.

[spikefader]

I know ELN lovers are going to like the large Fuzzy count.

http://spikefader.blogspot.com/2006/05/eln-major-count.html

Stalker long at this time after the "ain't actin' right call"

[billyjoe]

Kingofthehill, Webs,Spike, and others,
Nearly 2 1/2 years of posting has me convinced or maybe brainwashed. I'm in at 17.70.

billyjoe

[spikefader]

Kingofthehill, Webs,Spike, and others,
Nearly 2 1/2 years of posting has me convinced or maybe brainwashed. I'm in at 17.70.

billyjoe

Well you picked a good day for it bro. Good luck! May the entry be perfect!

Sets up right here 17.96 with very good r/r with nice intraday pattern. 2% risk to target 35.00 or 70.00. Hard to beat that. I'm long. Go ELN! hehe

[NY4Ever]

Most I see for ELN is 19 - 20. It is more important to know when to sell than when to buy. Take profits now.

[DSteckler]

I agree with Garbo on this one. The bias is still to the downside. And a target of 35 anytime soon is unrealistic, IMO, barring news.

[spikefader]

I note there is was a very nice minor channel long yesterday to go along with the double bottom intraday yesterday...a perfect one at that. There's the crucial line in the sand for me. Nice ascending intraday triangle late today.....moving into that major trendline resistance. Long entries today lookin' sweet; green hope with stop to even if/when it hits +4%.

Oh....and I'll ask again Dave....how big a stop do you want on that short of yours? Was doin' ok at +6% too ...

[DSteckler]

One tick above the high of entry day.