Spike's Scientific Stock Analysis

[spikefader]

I stopped out at 5.40 this morning wait for little pull back may get back in. U Spike?

Nice trade that one b_c. Congratulations.

[spikefader]

Spike,

You looking at OFG today? The market has been open one hour, and she has been hammered down $5.60! Ugh!

And while you're at it, check FRO. It hit $43. Now we get to find out which way she's going to go for the shortterm.

Yowza OFG. I just remembered the previous OFG chart I posted (no one can say they weren't warned ) :


Now a huge significant channel bust on the weekly. Dead cat bounce time I think. Jiensen, where are you?

[spikefader]

New-born, further to FRO, there will be a decent channel long opportunity soon. Should get good support there.

[New-born baby]

I might, maybe, possibly, perhaps.

New-born, further to FRO, there will be a decent channel long opportunity soon. Should get good support there.

Spike,

I like FRO. $3.50 divy coming June 3. But that oil price! The bubble has burst. I'll watch with you, and might venture in 200 shares at $42.30 or so. I don't think they can stay down long.

Thanks for the charts! And I am glad to hear your opinions even if they are contrary to mine. I am looking for the Truth, and I am glad to have it!

[spikefader]

Yer welcome New-born. Yep - truth is the tricky thing to look for in the chart. That famous saying that charts don't lie is hard to discredit when you look at charts like OFG and BEL. The FRO chart is about to speak some truth on that channel test. That will be D-day for my swing. I will be targeting short to extricate myself from this one This has been a lesson that reinforces I stick to my strengths and use tight stops, especially considering I was so agressive with those first two entries at its heights.

[grebnet]

Tvin

Spike .. any thoughts on entry fo TVIN?????
Thanks as always.

[B.J]

Spike, regarding FRO: Although within channels, don't you think that chart is looking rather ugly? A lot of wide movement and gaps, plus isn't it somewhat of a descending triangle?

[spikefader]

Spike .. any thoughts on entry fo TVIN?????
Thanks as always.

Yep, take the channel long at 4.80 and rising if/when it gives it.

[spikefader]

Spike, regarding FRO: Although within channels, don't you think that chart is looking rather ugly? A lot of wide movement and gaps, plus isn't it somewhat of a descending triangle?

Yes, valid points. As far as a new long entry goes, right now it's ugly, and you wouldn't take it yet. But the channel long day will be a valid long setup, especially considering selloffs have been consistently bought for it. History may repeat, and I'll target short and exit this most frustrating losing trade (which I decided to average into aggressively and timed it badly), Trade plan is in place; add one final time at the channel long day, and hard stop the whole position tight under the intraday pattern. Hindsight I was too aggressive. If it doesn't pan out the way I want it'll be another lesson learned. It's a reminder of why averaging won't work well if you start doing it near a top

[yaoyao]

Fro

I still have a 100 share of FRO from 47.15 and bought a little at 43.80 (buy limit hit) today for my small IRA fund. I didnt think of selling it because I love the big div. Hintsight, I should've traded it instead of waiting for the div.

Do you think FRD is forming inverted SHS?

Thanks.

[spikefader]

EFA: Long @ 154.85 down near S2 intraday, based on bullish Vector. This may be a short trade based on intraday Vector indication. Need a strong finish to the day.

[grebnet]

Nite

Has anyone put thought into whether NITE might follow in the merger spree ( ie Instinet and Archipelago) ? Sorry Spike.. Im not sure where to post this just did here as it is most active. Your technical thoughts are always appreciated though.

[spikefader]

OFG followers:

If the high of day remains intact today the gap down projection (2x the gap) is a $12.92 target price. The sad thing is there are no put options available for it, so it might be wise to go short OFG in a second account to protect the position while it's vulnerable and profit from a move to the gap target.
NB: with these gap down targets, the chances of it falling from here without a bounce are about 80% from my experience. The high volume is a supporting factor that it will. However, the other 20% there may be some retrace to the gap and maybe even into the gap before it fails and falls to the target. So bear this in mind when considering the matter.

I think it's headed to 8.00 support. There is a intraday double bottom which sets it up for a bounce but the triangle is descending and bearish. Shorting HOD or 16.00 is where people will be selling. Shorting the bearish triangle break is another more aggressive play. Another play is shorting the descending line in anticipation for a bearish break. That's a better r/r as you can put your stop above the descending line.

[b_critical]

Spike,

OWENQ pulling back again what do you think about 4.05 entry. Made almost 50% on this one last time maybe I can milk some more.

[spikefader]

Spike,

OWENQ pulling back again what do you think about 4.05 entry. Made almost 50% on this one last time maybe I can milk some more.

Nope. Channel short day has been sold at R2 intraday level and is working nicely. Clear double top arguement now, so I won't be taking it long. Wait for another channel long at 3.22 and rising. That's where the next ambush is; not now when you're feeling glee and greed, ya know? Pat yerself on the back, and retreat to the smart entry. Do this over and over and over and you will make money. Don't fall into the emotional trap of feeling invincible that you can take a trade simply on retrace mentality and you've outsmarted the stock in the past. You get bitten that way. Not saying it won't bounce, cuz it may. I just wouldn't take the trade.