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WOW, I just found this website. I have been playing with the channels for sometime. Awesome info on this thread by Spikefader. Looking forward to learning more about this tech indicator.
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I agree, Spike is a very good technician. Also, FYI, you can go to http://Stockcharts.com and read their Chart School http://stockcharts.com/education/Originally posted by Runner
I subscribe to their RealTime Service, but the school and many other good features are available free.
Best, IIC"Trade What Is Happening...Not What You Think Is Gonna Happen"
Find Tomorrow's Winners At SharpTraders.com
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Spikefader, I’m studying CALM. I know it is one of the most highly shorted stocks out there. Could you help in my reading of the chart? I see Channel turn up from bottom off 9.91 with TGT around 16.27. Lots of overhead supply around the 200dma. From 14.45 high I see a lower channel around 12.18. If it does not pullback to 12.18 I believe it could bounce off fib line @ 12.71.
I would not be looking for a longer term hold with CALM, but just a swing trade short term.
Thank you for your input
Runner
Oh forgot to mention something and so I need to edit something here. I’m not to crazy with the candlesticks that have formed over the past week and was wondering if this could be a sign of more shorts jumping on board?Last edited by Guest; 11-27-2004, 01:24 PM.Comment
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Spikefader, another one I’m reviewing is SBAC. It has had a nice run from the 4.00 range. Currently it has been in the pull back mode. I get several channels that end up at Fridays low or 8.15. Looking at the price by volume I see pretty good support that may suggest a possible bounce, however the RSI and Cci look to still be in free fall mode.
With a chart like this would you consider waiting for a channel turn-up, RSI,CCI hook-up? Not to mention current market conditions that may or may not be due for a correction.
ThaX,
RunnerComment
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ELN Short
Spike,
What a time for a vacation! BZH dropped $5, and then today, ELN, that marvelous wonderous beauty, dropped $1.27. Wow!
I just have one thing to say: Get back to work!Comment
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My VLO is taking an extended break too, was stopped out though.Buy Low
Sell High
STAY FROSTY!Comment
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Something must have happened in ELN. Looking at the chart I see a possible channel long from todays low @ 25.75. It has pulled close to the 50% fib line. Not to mention the price by volume appears pretty strong. This suggest to me a reversal may be coming (market willing). Anyone care to comment on ELN?Comment
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I wouldn't mind catching ELN if it goes back up.Comment
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I am thinking about this one. I need to research and find out why the drop. If it pops tomorrow with some volume I may grab a few shares. If it drops below today’s low I’ll be waiting around 24.50 and see how it acts.Comment
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ELN--the Mystery Stock
Fellow investors,
I have never been able to figure this stock out. I've owned it 12 times, sold it short 5 times. I've seen her go from $20 to $25 to $17 to $29 to $25 again. But I think tomorrow she'll move up .40. Somebody took 1million share out of her today, that's all.Comment
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Spike,
What do you think of PARL? Is it too late to get in you think?Comment
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I've been eyeing PARL as well.Originally posted by dmk112Buy Low
Sell High
STAY FROSTY!Comment
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It looks like PLA has formed a cup. If it forms a handle, I may have to jump in and make some money with Hugh Heffner.Comment
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Originally posted by New-born baby
it is a wild stock.Comment
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ELN: Wild Thing
King,
You are so correct about ELN being a wild stock. It is as wild as a wild horse.
I left it some time ago when you wrote, "not for the faint of heart." Amen to that.
Jessie Livermore said, "If I can't figure out what a stock is going to do, I leave it alone. Because no diagnosis means no prognosis. And no prognosis means no profit." I have no diagnosis on ELN.
Best wishes for a very profitable New Year to the King.Comment
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