Spike's Scientific Stock Analysis

[dmk112]

Spike, looks like WLK was hit with another downgrade and it hit the channel long yesterday & today. Is it safe buying channel longs on "news" or rather stay away from that type of dips?

Looks like the channel expanded though, is that good or bad?

[Thomrich]

Greetings Spike,
May I be the first to applaud your world class daily reads,Your input here is invaluable,and if you ever start an indicator service,please put atop the list.

much thanks Tom

[dmk112]

anyone else having trouble getting results using this site's search feature?

I am. No results found I get.

[spikefader]

RE CULS: Nice bounce today, Spike, where was the entry?? (yesterday or today)

There was a minor channel long 4 days ago. Here's the daily chart (I forgot to put the latest channel long on it), but you can see where the genius money was. The first C entry, or one of the channel long days earlier this year.
If you're real aggressive you can chase the turn up tomorrow morning at the pivot.

[dmk112]

Yep. But pretty sure I would not have bought it there considering the profit-taking signal.

Hey I notice you are not using pre-market data. Don't like it?

But isn't that just a break out?

[dmk112]

There was a minor channel long 4 days ago. Here's the daily chart (I forgot to put the latest channel long on it), but you can see where the genius money was. The first C entry, or one of the channel long days earlier this year.
If you're real aggressive you can chase the turn up tomorrow morning at the pivot.

I see thanks, I guess you have to look at ALL channels...short and long term, huh? Make any trades today, spike?

[spikefader]

But isn't that just a break out?

Yes it is. But many breakouts get sold, and I've learned to trust the upper channel tag as a profit-taking signal. Sure, it might go BOOM and bust out, and that's great. Let it prove it first. If I sell at resistance and buy support then I can't go wrong. I'd rather miss the break out and buy the return to support. I prefer discounts - and nailing reversals. But chasing channel turn ups is fun too. But I'm not a big fan of price breakouts like the one you highlight. Not saying they don't work; just that I like the methods I've developed.

[dmk112]

Yes it is. But many breakouts get sold, and I've learned to trust the upper channel tag as a profit-taking signal. Sure, it might go BOOM and bust out, and that's great. Let it prove it first. If I sell at resistance and buy support then I can't go wrong. I'd rather miss the break out and buy the return to support. I prefer discounts - and nailing reversals. But chasing channel turn ups is fun too. But I'm not a big fan of price breakouts like the one you highlight. Not saying they don't work; just that I like the methods I've developed.

I see, interesting. Are you a day trader Spike?

[spikefader]

QQQQs intraday.......the very interesting C entry did it's thing.

Vector very bullish today.

There is a VERY good chance the C entry on the weekly is getting bought. Zis is good for ze market

[dmk112]

QQQQs intraday.......the very interesting C entry did it's thing.

Vector very bullish today.

There is a VERY good chance the C entry on the weekly is getting bought. Zis is good for ze market

Thats what I wanna hear! Any prospects for friday?

Thank you

[scifos]

Interesting chart I came across. Does this qualify as a buy spike because of the breakout from the (albeit loose) and the channel turn-up?

[dmk112]

Here's a Fib. setup, it tested the 50% retracement March 31 and bounced... Looks like it tested again and let's see if it bounces.

[scifos]

Here's a Fib. setup, it tested the 50% retracement March 31 and bounced... Looks like it tested again and let's see if it bounces.

Its kinda spooky how those fib lines work. F(x) = F(x-1)+F(x-2), why should that predict stock behavior? Its probably more psychology than anything else.

Edit: clarification, F(x) = F(x-1) + F(x-2) is for x=[3,infinity] while F(1)=F(2)=1 Domain of F() is all positive integers.

[jiesen]

to trade or invest? isn't that the question?

Its kinda spooky how those fib lines work. F(x) = F(x-1)+F(x-2), why should that predict stock behavior? Its probably more psychology than anything else.

I would guess that fib lines, like many TA systems, work because people use them. Sort of a self-fulfilling prophecy that will continue to work until the game is changed (meaning that someone figures out a newer and better system to take all the money away from those playing the old game).

I think that the fib lines are repetetive ebbs and flows of money out of and into a stock, which would tend to perpetuate due to the people moving the money in and out based on patterns they've observed in the stock price.

While I believe there's a lot of money to be made trading charts, I also believe that it'll be much easier in the long run to find and invest in companies that can earn lots of money.

[scifos]

I would guess that fib lines, like many TA systems, work because people use them. Sort of a self-fulfilling prophecy

Exactly

I think that the fib lines are repetetive ebbs and flows of money out of and into a stock, which would tend to perpetuate due to the people moving the money in and out based on patterns they've observed in the stock price.

Yeah, I agree that money ebbs and flows, but why in 38.2%, 50%, and 61.8% amounts (looking for a technical, logical reason. I understand the psych weight they have)?