Spike's Scientific Stock Analysis

[b_critical]

OWENQ is this the pattern we are looking for?

[dmk112]

Where the heck is the bottom???

[spikefader]

OK guys and gals; the bear is back.

This morning's reaction to yesterday's selloff and IBM news has not been as I had anticipated. I wanted a solid get-go buy that rocketed the markets. It just didn't happen. Vector IS going to be bearish at the close (99% sure of this). This is very disappointing, as I really wanted to see the weakness bought.

So, who knows how long I'll keep the bearsuit on; but for now, it's on.

EFA trade; I just took the 1% loss on it.

Careful out there on the long side

[spikefader]

Bear in mind also, there are those weekly channel long levels; but the way Vector is, there is every likelihood that those will become channel expansions and busts. I have no clue where this selloff will end now. The market will do what it will do, and that will be that. Anyone long EFA or indexes should really consider exit or hedging until indications are better.

[spikefader]

SNRR: stopped out this morning on this short for the tiny loss. Ha! Even in an apparently bear market I get a short wrong! This bodes well for the stock I think. Ces la vis. Next!

[New-born baby]

Bottom of the Barrel

Spike,

Would you care to forecast for me the bottom of the oil bust? We were $57; we are now $50. I would like to have your view of the bottom of the barrel.

Thank you for all you do!

[spikefader]

FRO: just busted that triangle caution longs. I will be looking to exit my swing at resistance somewhere in the near future.

[spikefader]

Greetings Spike,
Havent posted in a while,have noticed that the New Born Baby has been missing also,hope all is well.
Im looking to enter with you on a few,FRO,EFA,and Im also looking at EWA,EWZ.
Concerning this chart

http://img160.echo.cx/my.php?image=mcri9yy.png

Im looking for a channel long at 15ish,look good to you?
cordially Tom

Hey bro! Been great, and hope everything is OK your end too. You've probably seen my post just then about FRO and EFA. I'd suggest holding off on the others too. On MCRI, yes, that channel long looks good on the face of it. There is actually a weekly channel long today. If it hits the 15 channel, it will have lost some weekly volume by price support, just to bear in mind. And if it breaks this weekly channel long today, that's bad too. So considering that, the 15.00 channel long may not be wise.

[spikefader]

Spike, I wanted to hear your opinion on MCRI too. I took the position with you at $34.80 before split on 50% retrace swing trade, but was looking for a longer term hold to exit around its fair value (current at 28.50). It's been a wild ride. When I looked at the chart yesterday, I was happy that it held well in a bad market, only to find out this morning that the news hit it so hard that my profit almost disappeared.
I also have a position in FRO and am looking to add more at this level. What do you think?
Thanks
Yaoyao

Man, what a bummer. It had moved nicely since the system exit here.

You want to remember the significance of upper channel hits and profit-taking potential. The red arrow was the area to take your profits. Live and learn bro :/ As for current thoughts, read the previous post today.

[spikefader]

OWENQ is this the pattern we are looking for?

Hm? What do you mean? Post a chart if you can.

[spikefader]

Where the heck is the bottom???

Weekly channels I referred to earlier still haven't been hit..........
EDIT: $compq and $spx channels have been hit, but Qs and NDX still haven't.

[spikefader]

IBM sets up for a nice long. Double bottom in place. Current prices long at 77.24 with stop under lod risks 0.7% for a potential gap fill to close to 8% profit. Not the best r/r in my book, but still OK.

[Thomrich]

Greetings Spike,

Regarding this chart: http://img230.echo.cx/my.php?image=pwi5iq.png

Channel wise it looks like it may head lower,but if spike downs are removed from those 2 down days,could this be wedge formation?

EENC is on a tear,ironically its the weakest of the canroys as far as dist payments go.Ill never argue the markets,like being in a cage with a 600lb Gorilla,it'll do what it wants.

cordially Tom

[dmk112]

Here's a channel long today, for anyone that has the balls to buy in this market

[spikefader]

Greetings Spike,
Regarding this chart: http://img230.echo.cx/my.php?image=pwi5iq.png
Channel wise it looks like it may head lower,but if spike downs are removed from those 2 down days,could this be wedge formation?
EENC is on a tear,ironically its the weakest of the canroys as far as dist payments go.Ill never argue the markets,like being in a cage with a 600lb Gorilla,it'll do what it wants.
cordially Tom

Yes, it does look lower. For the triangle, I'd draw it to include the spikes, like below. But the problem is you don't have two distinct lows on the bottom line, which means it's not a distinct definate triangle yet.