Spike's Scientific Stock Analysis

[spikefader]

Spike,

Did you read chartwatchers latest newsletter, they try to interpret the s&p 500 chart with "waves", whated to check with the Chartologist himself to see if you can confirm their alaysis. (Scroll to the bottom of the newletter)http://stockcharts.com/commentary/ar...20050219m.html

No I don't. Had a quick look at it, and it looks good to me

[kingofthehill]

how is my favorite stock doing ??????? ELN whats your read spike.

[skiracer]

Spike,
I've been fooling around with the snagit program and wanted to bring something here that I get emailed to me weekly. I've been trying to capture it but it's long an I haven't been successful in capturing all of it at once. Hate to bother you but how do I go about capturing all of something that is long. No rush on the response as I see that everyone is requesting your time. Whenever you get a chance. In the meantime I'll keep playing around with it. It's pretty neat. Thanks.

[spikefader]

Hi Spike,
Any suggestions for an entry point for CMC. thanks
Dan

Sorry it took so long Dan.
I think CMC is just about ready to exhale.

[spikefader]

how is my favorite stock doing ??????? ELN whats your read spike.

ELN. It's rangebound nature should resolve itself pretty soon. The triangle break will be the whisper. Weekly channel from the top is flat, so the only thing to go on is 'the trend is your friend'. Long-term trend is clearly up, so the bias therefore has to be up. Daily channels haven't been helpful recently, so I'm putting more value on the pink triangle that's forming. Sensible strategies are:
1. buy any return to the lower pink triangle line in anticipation of a bullish break. Stop somewhere under the pink line.
2. buy the triangle breakout.

The short side is tricky right now. While I can see the bearish potential of ELN, I'm a little hesitant with it. Best place to short is to wait for a bearish break of the triangle, coinciding with a channel turn down. Volume by price support is there at 26.00ish, so if that can't hold,might see a gap fill??

Good luck with it.

[kingofthehill]

Thanks Spike I really enjoy reading your thoughts- King

[MEA_1956]

Itg

ITG === What little I know but is there a setup in this stock that you might make a play on next week. MEA

[spikefader]

You're welcome King.

Mea, ITG - has a triple top, with Friday being a channel short day, which are things to concern bulls. But the weekly shows a nice cup formation. Buy the handle off the weekly chart might work. I'd be patient with it.

[MEA_1956]

ok

Thanks Spike Also like the looks of IAIC. THese are on my front burner for next week. MEA

[spikefader]

FRO: re http://www.mrmarketishuge.com/forum/...postcount=2187
Today's channel up is the green light to hold it long.

[spikefader]

Thanks Spike Also like the looks of IAIC. THese are on my front burner for next week. MEA

IAIC ain't bad...

[spikefader]

ELN: Thoughts go out to King and others who liked this stock long. There was every reason to be fundamentally bullish on the stock. There was no reason to suspect the worst. I guess there never is. But the worst happened today for seemingly much-loved ELN. Who would have predicted deaths related to the drug that looked so positive - a drug that could change the world for so many sick people. The future looked so bright. This morning, the future looks so gloomy, and first thoughts that burst to mind are concern for the financial welfare of anyone that was long the stock. And if there are people following this forum that are heavily committed in ELN, chin up folks. All is not lost and our thoughts are with ya.

I'll leave other thoughts related to the chart to a later time. There will be a time for analysis later. Right now though, I feel sick.

[New-born baby]

Eln

Spike,

I noted that ELN had huge volume today: 80 million shares before noon. Now, let's suppose that someone owned ELN with a trailing stop of $21.50. ELN opened on the NYSE at $9. Would the shares have been sold at $9 or less this morning?

[New-born baby]

Ofg

Spike,

Are we moving close to a channel long in OFG again?

[spikefader]

Spike,

I noted that ELN had huge volume today: 80 million shares before noon. Now, let's suppose that someone owned ELN with a trailing stop of $21.50. ELN opened on the NYSE at $9. Would the shares have been sold at $9 or less this morning?

Just wrote this over in the other thread about the stop situation for ELN today. If you had premarket stops working, you'd likely have been stopped out at around 25.00 I think (looking at the time and sales report). If you didn't have premarket stops working and rely on regular hours stop orders, your stop order (assuming it was a market stop order) would have been executed at the opening bid price of 8.86. Big difference between 25.00 and 8.86 huh! If you don't know about premarket stop loss orders, contact your broker to find out. Interactive brokers has the option to choose whether you want stops to work in AH and premarket.