Spike's Scientific Stock Analysis

[spikefader]

DHB, I'd target 22.25, the upper channel from the 17.40 high. It's in a 5th wave up, which should be impulsive.

[spikefader]

Re ELN Long here
Moving stop to even. Bullflag must hold this close to my entry with such a big move down today. If it fails, it could retrace the whole move up today. I'm standing on the side of caution today. And if the bullflag holds happy days

[spikefader]

QQQ proposed short at 38.84. That was the plan when I did the charts this morning

[phobophobia]

Spike, what do you think of AAPL for the next couple of months?

[spikefader]

QQQ proposed short at 38.84. That was the plan when I did the charts this morning

Short QQQ 38.84. Stop loss at 39.50 (about 2% risk)
Target open at this stage, but may settle on a lower channel on the daily - currently 37.00, about 4.7%.

[scifos]

Previous touches don't rule the roost and dominate in all cases. There is a potential for price to react to a channel touch, but it occurs often enough that price ignores such touches and steamrolls whereever the market wants to go. So no, the channel touches don't say it won't go highter, it's just a warning that there might be profit taking.
But considering the potential for some general market weakness (which also may get ignored and the bull continue to suprise) it may be wise to respect that potential and to wait for the conservative entry and not the aggressive one. See, there is no easy answer. The only thing you can do is make a good plan, with good risk reward, and execute according to that plan.
Personally, with VLO, considering the channel touch, my bearish outlook short-term, and the somewhat bearish looking candle on Friday for VLO, I would be conservative with my entry.
Hope that helps.

Thanks a lot Spike, that really helped a lot. I'm actually long on VLO and was was using it to try out some charting and see where its at. Also, what timeframes do you usually use when charting, I did a 1 year, but I suppose doing a short term chart would be helpful too. Also, I just checked CNBC this morning, about 20 minutes after market opened and VLO was up (higher oil prices) so I'm eager to re chart it tonight.

[Websman]

Dang!!! It looks like MCRI is going down the tubes!

Looks like I may be bailing, first thing in the morning.

[scifos]

Dang!!! It looks like MCRI is going down the tubes!

Looks like I may be bailing, first thing in the morning.

I was stopped out about a week ago at +20%

[Websman]

I was stopped out about a week ago at +20%

That's a good stop. congratulations!

[spikefader]

Dang!!! It looks like MCRI is going down the tubes!

Looks like I may be bailing, first thing in the morning.

Ya, that upper channel touch I pointed out the day Ernie got in was what got me cautious on it. Then 2 days later there is that blue bearish channel touch that has been sold. And it's gonna go test that pink channel at 30 by the looks of it. Maybe you should wait to see what the reaction to that channel is??? I dunno. There's no guarantees it'll bounce from that either..... Do whatever your Vulcan head thinks best!

[Websman]

Man, I must be getting better at chart reading. I saw the same $30 channel! I haven't lost a lot yet, so I think I'll see if it bounces off the $30 channel before I sell. If it breaks the support, I'll get out.

Thanks for verifying the chart Spike!

oh yea...It looks to me as if the next support channel is at $22. If it drops below $30, that's a pretty big drop.

Tomorrrow should determine where MCRI goes.

[New-born baby]

Rimm

Spike,

Can you tell me if you think RIMM is getting ready for a good old fashioned short?

Thank You!

[spikefader]

Man, I must be getting better at chart reading. I saw the same $30 channel! I haven't lost a lot yet, so I think I'll see if it bounces off the $30 channel before I sell. If it breaks the support, I'll get out.

Thanks for verifying the chart Spike!

oh yea...It looks to me as if the next support channel is at $22. If it drops below $30, that's a pretty big drop.

Tomorrrow should determine where MCRI goes.

Good for you Webs. We'll make a chartist out of you yet.
"If it breaks support I'll get out" may be a very wise thing. I spotted this SHS formation with an ugly target for longs....

[spikefader]

Spike,

Can you tell me if you think RIMM is getting ready for a good old fashioned short?

Thank You!

I don't think it's ready quite yet.

[New-born baby]

RIMM's Gap

Spike,

Did you notice RIMM's huge gap down around 30? Runaway gap--for now.

I did also notice 4 channel touches that were bought. If it happens today, that'll be 5 in a row. I'll watch . . . .

Thank You!