Spike's Scientific Stock Analysis

[yaoyao]

appx

Spike.

What's your opinion on APPX? By looking at volume by price chart, the price range now should be a strong support. Do you think it's a good long entry point? Thanks.

Yaoyao

[spikefader]

Re: appx

Spike.

What's your opinion on APPX? By looking at volume by price chart, the price range now should be a strong support. Do you think it's a good long entry point? Thanks.

Yaoyao

I'm watching it for the perfect entry long. I will wait for a bullish channel break or channel turn up first. Then I'll aim to time the entry on a pullback to a channel, and make sure intraday there is a valid reason to take it. I guess you could call it a 3-step process. First, the channel direction change signal, second is the channel entry zone at the lower channel, third is the intraday reason to take the trade and pull the trigger. Better make that a 4-step process: the 4th step is setting stop and taking the Dr's medicine should it turn out to be sick.

So to answer your question (good long entry point), I say 'not yet', there is still reason to wait. If I happen to forget about it, and you see the things that you know I look for, give me a yell, because this looks like a pretty good stock to trade, action-wise.

[IamOrion]

SHS

Spike,

What is an SHS formation and what does it mean? What is its signifigance? Can you give any classic examples. Just trying to learn and get some insight.... Thanks for the exp. about the zero line.

Thanks,

Orion

[yaoyao]

APPX

Spike,

Thanks for sharing your thoughts. I have a couple of questions about the 3-step process. How do you determine the channel break (reliably)? Do you think the step 2 will surely occur?

Thanks

Yaoyao

[spikefader]

GT update:
ForeverInvesting raised GT on page 4 of this thread http://mrmarketishuge.com/forum/view...c&start=45

Just noticed there was a long entry the other day, and if you're bullish on the stock, current price of 8.00ish is a valid entry point, based on things I look at. Currently at intraday Support 1, and at bullflag support from 2 days ago.
The one problem I see with it is the SHS target is under the gap and it could be looking for a gap fill, then SHS target hit. I'd recommend stop at 7.96 which is least amount of pain possible.

[spikefader]

If you're into precious metals. CDE has valid long entry right here. Grabbed some myself

[yaoyao]

CDE

Thanks. I'm in too. Do you usually set stop for these long positions? If so, what's the good stop price.

[spikefader]

Re: CDE

Thanks. I'm in too. Do you usually set stop for these long positions? If so, what's the good stop price.

Sorry, should have specified. Yes, always use stops. I think I'll give this one a little wiggle room and make it 4.10. That's under the inverted left shoulder. If it hits 4.10, that makes the SHS invalid.

[spikefader]

Re: SHS

Spike,

What is an SHS formation and what does it mean? What is its signifigance? Can you give any classic examples. Just trying to learn and get some insight.... Thanks for the exp. about the zero line.

Thanks,

Orion

There are some good examples earlier in the thread. Check out http://stockcharts.com/education/Cha...ersBottom.html

[spikefader]

Re: APPX

Spike,

Thanks for sharing your thoughts. I have a couple of questions about the 3-step process. How do you determine the channel break (reliably)? Do you think the step 2 will surely occur?

Thanks

Yaoyao

You're welcome. I take a channel break, as price hitting a channel and causing it to expand suddenly. Often price will hit the channel and bounce without expanding it. That's not a break. If the price hits the channel and expands it, that's a channel break in my book. Regression channels are different to general channel trend lines. Readers should take particular notice of this. A fixed line channel is something I don't pay as much attention to as a regression channel, that positions itself differently. Check out annotated charts at stockcharts.com and draw a few and you'll see how they move, and look at how that expand.

Regarding step 2, no, there is no guarantee that it will take place. If it doesn't and I miss a move, so be it. The step 2 is the haggling part of the equation. You're trying to buy a bargain - a retracement to the channel. This is an edge, and to trade without that edge would be unwise.

[spikefader]

LRCX short (missed it, but a good example of what I'm looking for) As to the stop.

http://img47.photobucket.com/albums/v145/spikefader/Trading/LRCX_intraday_entry.jpg

[Bullshooter]

Spikefader,

Thanks for your recommendation to research TA on Stockcharts.com. I joined this service and have been studying various technical indicators.

I wondered if you would share how you go about copying and posting a chart from stockcharts into the body of a post?

Thanks,

Bullshooter

[spikefader]

AACE for those with this look on their faces.

http://img47.photobucket.com/albums/v145/spikefader/Trading/AACE_a_reason_to_sell.jpg

I note a SHS there too!

[spikefader]

Spikefader,
Thanks for your recommendation to research TA on Stockcharts.com. I joined this service and have been studying various technical indicators.
I wondered if you would share how you go about copying and posting a chart from stockcharts into the body of a post?
Thanks,
Bullshooter

Good for you!
OK, to post a pic:
When you reply you type your comments. Then click the 'Img' button paste the link to your picture then click Img again. That's it.

[yaoyao]

Selling rules

Spike,

How do you determine your exit point? I know you always use stops, but how you decide when to take profit? Do you completely rely on your charts, or use some percentage rules like Mr. Market? Also, how do you determine the channel turn? How long does it take to make the turn?

Really appreciate your help.

Yaoyao