Spike's Scientific Stock Analysis

[spikefader]

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!

Sorry Newborn, just discovered I forgot about this one! I did a chart on $OIX on Friday so here it is. Many weekly channel long failures on the oil indexes/stocks points to lower. I would suggest lower weekly channels.

[spikefader]

Shorted QQQQ 34.95, near today's high of day resistance and at small 5 wave completion; looking for a nice breakdown.

[New-born baby]

Spike, you are wonderful!

Thank you Spike for all you do. My gut tells me all you wrote. Don't like to see that USD/CD drop to .75 as you have targetted, but I believe you are correct.

The same with oil. One terrorist could change it all, but a retrace is coming I think.

Gotta love the Spike! Thank you!

[dmk112]

Spike,

Ford took another hit today, what are your thoughts on the chart?

[dmk112]

Hospitals topping? ($RXH)

[dmk112]

SNHY bounced nicely off the 50 dma today, worth watching tomorrow.

[spikefader]

Spike,
Ford took another hit today, what are your thoughts on the chart?

Bearish. Looks like it wants 7.50. Hilarious that we were posting about it on the day before the drop, when I posted this short setup http://www.mrmarketishuge.com/attach...tachmentid=852. Silly stock; needs to be taken out back and belted. Didn't give a perfect entry (later in the day popped over that SHS), and then after the 50% retrace system entry got all the way to +13% (2% shy of its target) then drops faster than my shorts the day after eating beef vindaloo.

[spikefader]

Hospitals topping? ($RXH)

still no upper channel tag; came close.

[spikefader]

SNHY bounced nicely off the 50 dma today, worth watching tomorrow.

yeah, worth watching for a short ; channel short today, after a bullish channel breakdown.

[dmk112]

Bearish. Looks like it wants 7.50. Hilarious that we were posting about it on the day before the drop, when I posted this short setup http://www.mrmarketishuge.com/attach...tachmentid=852. Silly stock; needs to be taken out back and belted. Didn't give a perfect entry (later in the day popped over that SHS), and then after the 50% retrace system entry got all the way to +13% (2% shy of its target) then drops faster than my shorts the day after eating beef vindaloo.

Haha, I'll be watching it today, the futures are up like 8 pts so we'll see what happens today (maybe we bottomed??).

SNHY: Is that a channel short, what would invalidate it? A bust through it?

[spikefader]

SNHY: Is that a channel short, what would invalidate it? A bust through it?

You'll probably recall from reading this thread that today is an expanding short channel day; which is caution shorts.

There wasn't a good pattern yesterday, so it's worth one more look today for a good pattern short, tight stop, small risk, anticipating that the only reason today is expanding is because there wasn't a good pattern to sell into. Today still no pattern. Keep looking. Double top or SHS may present itself, and that is where to lay in ambush for it. We're talking risk reward setups right, and this one should be about 0.5% (if double top entry) risk for 20% target which are great numbers and what you should be striving for to duplicate the system I use.

Now, should the pattern fail and price remain strong then, as far as the system goes, one can consider that the channel short day has failed and you can now start looking for a long opportunity. It's about staying on the right side of the trade, and waiting in ambush for a 'discount' smart patient entry. Just because it breaks the channel short day doesn't mean you buy today. Ya gotta be patient

[dmk112]

Markets looking good - vector still bullish? Looking to short SNRR though...

[spikefader]

Markets looking good - vector still bullish? Looking to short SNRR though...

Well it's not looking too good to me The market is actually forming a bear flag on the hourly chart. Watch for the breakdown to signal a continuation down. It's the calm before the storm I think.

Vector remains bearish - check my Avatar for current bias.

[dmk112]

BOOM and SNHY are on fire today... Do you see the intraday patter on BOOM? Is that some sort of wavecount?

[dmk112]

RE BOOM, did it hit a channel short today?