Spike's Scientific Stock Analysis

[spikefader]

looks to me like SNHY is getting a bit "tired" near $31 today. I am seeing moe and more "larger block trades" for it around 30.50.

It's one crazy chart. What are your thoughts? Keep in mind its been up from 23 to 31 in two trading days. I am thinking of going short here.

Thanks, as always!

Well R2 is 30.89, so it's taking a breather. Sure is an impressive bullish chart. It's crazy cuz I was looking for a pattern to short into, but there hasn't been an impressive one yet. There were a couple of double top opportunities that I didn't post and they have failed as it's marched up. The double top today isn't selling, and I think one can be satisfied now that the channel short has been busted and the short setup is invalid now. The expanding channel (caution to shorts) was in fact caution to shorts - cuz if you were holding short you'd be starting to sweat and feel some pain. This is what I love about tight stops, you don't sweat . The wave count over 3 days is possibly in the 5th completion today, so for profit-taking purposes, if you are long, that's the ideal place to take it off the table. Because there is a double top in today already, it's wise to exit now if you haven't. If there is more upside today, there shouldn't be too much left. The wise sell resistance and don't fuss when they don't catch the whole move.

With the channel bust now, the right side of the trade is to look for a channel long; patiently wait in the bushes until it sets up perfectly. Someone call it out if I miss it will ya!

[mystiky]

thanks on SNHY!

spike - you are the best! Thanks for your help on SNHY.

Now, you said that longs should consider selling their profits at this "R2". What do you see then the next "support" on the downside? I am seeing 28.60, and then as low as 26.50...

Appreciate your time and opinion!

[spikefader]

spike - you are the best! Thanks for your help on SNHY.
Now, you said that longs should consider selling their profits at this "R2". What do you see then the next "support" on the downside? I am seeing 29, and then as low as 27...
Appreciate your time and opinion!

Sure any time.
Weekly chart: volume by price support at 24.00ish, channel support 22.00ish and rising. Next channel 19.50ish and rising.
Daily chart: channel suport at 26.50ish and rising. Price support 22.40.
Channels will change every day so check them.
Intraday chart: Pivot support at 27.74, S1 26.58 and S2 24.59.
Good tradin'!

[Thomrich]

Greetings Spike,
BOOM short from 28ish working nice,any target in mind?
cordially Tom

[spikefader]

Greetings Spike,
BOOM short from 28ish working nice,any target in mind?
cordially Tom

Lovely! Looks like it's done 5 intraday waves down, and a possible little c short entry is working, so you can either take your 9% now, or if you want to target off the daily, you can target the daily rising lower channel at 24.00ish, or hold out for price support at 21.99. Or if the channel from 21.99 turns down before a channel hit, target lows below 21.99, say declining lower channel from the top (38.99), currently 21.17 and falling.

Did you use a pattern to enter? Looks like you got in around a wave 2 correction after that double top today.

[B.J]

More trouble for DHB? 10-day intraday shows descending triangle:

[spikefader]

More trouble for DHB? 10-day intraday shows descending triangle:

Yeah, that weekly bearish channel bust started all this. 5.05 will likely be tested soon. It's very sick at the moment. Needs a doctor urgently. It may be terminal

[mtm]

I just wanted to say what a great service Spike and IIC due for traders posting all of this BEUATIFUL information! I too am a technician and it is great to find others like you two contributing to everyone. Most boards are a complete joke and ones like this are rare.

I check both your threads every week and also send my users over here to check them out.

If you guys ever want a thread to follow for the the S&P E-mini's I have one here.

I pretty much swing stocks and daytrade the futures. (easier money for me)

Thanks again for you great contributions!!!

[mystiky]

Spike, again on SNHY

Well, I did manage to short SNHY in the 30.50's area. Although it closed "higher" today on huge volume, that would not had been the case except for some "short-covering" during the last 30 minutes.

But the chart looks weaker right now for the longs (in my opinion). If it does gap up tommorow, I plan to add to my short.

What are are thoughts to my trying to cover at just over 28?

Many thanks!

[mtm]

Looks like a nice short to me. Just like BOOM.

[mtm]

If I am not supposed to post in Spike's thread someone please tell me. I don't want to be rude.

Here is my take on SNHY.

[Thomrich]

Lovely! Looks like it's done 5 intraday waves down, and a possible little c short entry is working, so you can either take your 9% now, or if you want to target off the daily, you can target the daily rising lower channel at 24.00ish, or hold out for price support at 21.99. Or if the channel from 21.99 turns down before a channel hit, target lows below 21.99, say declining lower channel from the top (38.99), currently 21.17 and falling.

Did you use a pattern to enter? Looks like you got in around a wave 2 correction after that double top today.

Greetings ,
Sorry for the misunderstanding,I thought you and DMK were shorting it from the touch yesterday.

Looking at todays chart,it appears that a short at the early morning double top would have caused a stop out about an hour later,unless a loose stop was employed based on hoping it would not keep climbing.

I likely would have been stopped out.

BTW Spike,EENC keeps on chugging,great call.This months Ex date is the 27th?Im looking to get some on a blue light special,along with PWI maybe as early as tomorrow.Any thoughts on where to look for the drop to hit on EENC?
The chart is choppy looking to me.

cordially Tom

[dmk112]

Looks like the inflation data once again ruined a nice rally...bummer...

[dmk112]

Missed short on BOOM, everytime I'm at work somethng good happens!

[dmk112]

Spike, can you give your analysis on KCS latest action? Looks like it may have hit channel short today.