Spike, $$MM$$'s pick DW. Both short term (since 2/15) and long term (since June 2004) triangles seem to be tightening up. Time for a move?
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Originally posted by New-born babySpike,
FDG (was $106, now $98.50) fell just like you said. The last two days it has fallen less than $1. Today it fell something like $ .40 to $98.50. Is this thing basing, in your opinion? My chart says $93.65 bottom. March 29 she divys out $1.30 and splits 3:1. I want some of that, but I don't want to jump in too soon. What does an expert say? I value your opinion.
Thanks!
I should have shorted this one in the competition!Instead, I chose some poor performers!
Anyway, this chart shows the realm of possibilities. It's just a matter of how many people will actually profit take. How can one possibly know that? If you ever work that one out, let me know will ya!
I would recommend steering clear of this long until it screams long again.
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The IN-credible Spike
Spike,
That "realm of possibilities" chart is so awful that I'd really be screaming if I took a long and she did the 100% retrace thing. But I don't expect a 100% retrace (with the piles of money FDG is making right now) until the split levels the price out. But stranger things have happened. Look at CME. "Clearly a bearish chart."
Maybe I should look to fish somewhere else, until the chart 'screams for a long.'
Thank you so much!
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Spike, I need a little help on my charting skills. Iรขโฌโขm thinking IMMR gave channel long signal today off daily chart. Intraday 5 min. I see an inverted H/S with entry point about 5.60-5.65. with stop @ spike low. Could you let me know if Iรขโฌโขm heading in the right direction with this channel thing?
Thanks,
runneR
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Originally posted by B.JSpike, $$MM$$'s pick DW. Both short term (since 2/15) and long term (since June 2004) triangles seem to be tightening up. Time for a move?
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Originally posted by RunnerSpike, I need a little help on my charting skills. Iรขโฌโขm thinking IMMR gave channel long signal today off daily chart. Intraday 5 min. I see an inverted H/S with entry point about 5.60-5.65. with stop @ spike low. Could you let me know if Iรขโฌโขm heading in the right direction with this channel thing?
Thanks,
runneR
Yes, you're right on track! It did give a channel long. But with expansion (in fact Monday it expanded), so it's caution longs, with stop under lod, and target only the next upper channel touch unless it turns up first. In that case, hold it long.
The whole expansion thing is tricky. It's clearly a warning that the channel has been busted. But many times I've seen price expand and bounce and rocket off it, so it's worth holding if you got a good entry. If you got a not so good one, then I don't know if I'd hold it. If I happened to get a good entry, say at the double bottom today at 5.60, my rule is I can hold it, with b/e or lod stop.
Not a bad candle today, but channels haven't really been working well for it lately (at least on the weekly).
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Heads Up!!!!!
XLNX has delivered positive earnings report and the chart at stockcharts shows it's just getting ready to leave a reverse head and shoulder pattern. A nice, big one! If the early birds haven't already run it up pre-market, it may be worth a few pickins!"Whatever you can do or dream you can , begin it. Boldness has genius,power and magic in it." Goethe
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Greetings Spike,
If you could answer a question Ive never thought of,but would help clarify entry decisions.
How do you determine support as in your intraday charts you show S1 and S2,are they generated by a service,or do you look at price action over the past few days and calculate it yourself.
Many times I enter arbitrarily,would like to get a little more precise.
cordially Tom
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Originally posted by noshadyldyXLNX has delivered positive earnings report and the chart at stockcharts shows it's just getting ready to leave a reverse head and shoulder pattern. A nice, big one! If the early birds haven't already run it up pre-market, it may be worth a few pickins!
Green is where I would be prefer to be entering. Seems late in the game for me. But I'm a real picky knucklehead
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Originally posted by ThomrichGreetings Spike,
If you could answer a question Ive never thought of,but would help clarify entry decisions.
How do you determine support as in your intraday charts you show S1 and S2,are they generated by a service,or do you look at price action over the past few days and calculate it yourself.
Many times I enter arbitrarily,would like to get a little more precise.
cordially Tom
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Spike, I think it would be a good idea to gather suggestions for stocks in an uptrend. You agree? I have three pretty good ideas, that have been good to me of late:
CMN (looks like a sine wave now on a down leg)
FORD (cruising toward the mid to low 7's, probably bouncing from there)
MANC (only if there isn't a repeat of today's nasty sell off and it finds support in the high 9's)
This market's starting to get nasty. Should listen to you bears
I'm going to give this swing trading a go.
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