Spike's Scientific Stock Analysis

[Websman]

I believe you're right spike. I'm going Bull for next week.

[spikefader]

Spike,

RE XLE. I'm looking at the chart and it looks like the channel has been hit many times at different points. Is there a way to know which one is the "real" channel long?

Well I count the blue, red and green channels as failed channel longs. The low on those days lost support eventually. The pink one is succeeding thus far.

See, a channel long is just an opportunity. Those failed ones obviously didn't have the support needed to hold price up. Support can only be there if buyers are there to bid the price up. When there are no bidders, price falls, naturally. There just needed to be some correction from the bullish run. All you can do with channels is buy the support channel with some intraday confirmation; then if it fails it fails and you stop out and move on to the next opportunity. Take your medicine and move on. Don't fret that it failed, since you can't be 100% right. Plan for failure; be the best loser; buy the support and get out if it fails. If it works, sell at resistance and smile, take your profit, move on to the next opportunity.

So short answer, there is no way to know which is the 'real' channel long. They are all long opportunties; they're just not all winning opportunites.

[dmk112]

Thanks spike! Let's see bull next week!

[IIC]

Why do you say that?

Heck...I was wrong...it happens...I figured that the GS hype was a lot of wind.

But, the way I am short term trading now...it really doesn't matter...Just go with the Best of the Best for the day...No matter what happens...Some groups are almost always moving...IIC

[B.J]

Yeah...sorry about that...

Don't be Doug. Spring/Summer's arrived, the rain has stopped, and neither of us are going anywhere. Plenty of time...

[dmk112]

Spike,

SHNY....Can you find a place to catch this one?

Thanks

[spikefader]

@ dmk112, what's the ticker? Can't find SHNY.

OTHERS ripe for Monday.

[IIC]

@ dmk112, what's the ticker? Can't find SHNY.

OTHERS ripe for Monday.

I am pretty sure he meant SNHY.

It came onto my radar on 3/21...but I never got any of it.

[spikefader]

Immediate future of oil? Up.

[spikefader]

I am pretty sure he meant SNHY.

It came onto my radar on 3/21...but I never got any of it.

Close to profit-taking time. When it tags the upper channel, look for SHS and neckline break to short it. If you want long, then take another look in a week or two for a 'c' entry (i.e. see the 5 waves up).

[spikefader]

A couple more long setups.

[dmk112]

Yea I did mean SNHY...thanks!

[Runner]

Spike, what do you make on this chart on DHB?

[dmk112]

Spike,

What do you think about this one?

[dmk112]

Spike,

Does this qulify as a double top? (its the 1 min of TZOO on friday). Where would be the exact point to short this?

Thanks!