Spike's Scientific Stock Analysis

[spikefader]

Spike, I thought for channel longs are taken from lows?? how did that one work?

Yes, that is my preferred method for longs, i.e. draw the channel from a low, and wait for a lower channel line touch to start looking intraday. But another valid setup is to trade the profit-taking potential of a tag like that one. You recall that I often look for intraday short patterns for a stock that has just tagged an upper channel. Well, the previous chart is simply the reverse of that concept. Bears holding short have a potential to profit-take because price tagged that lower declining channel line.

You see, the edge of trading channels is the tendancy for price to hit the line and reverse. You're simply trading the reversal setup.

I very likely wouldn't have posted that (or even looked at it) had you not asked for where I saw an entry for it.

[Thomrich]

Greetings,

Spike, I exited LEXR today at 5.30 from 4.49 last week.I didnt like todays action,as it couldnt keep the early morning high,did I exit too early?At least its in cash.

Do you still like EENC as a long?or has it fizzled out?

cordially Tom

[dmk112]

intraday triangle break?

Oh yes...I actuall bought at the apex in anticipation of a break...and when I got back it sure did break

[dmk112]

Yes, that is my preferred method for longs, i.e. draw the channel from a low, and wait for a lower channel line touch to start looking intraday. But another valid setup is to trade the profit-taking potential of a tag like that one. You recall that I often look for intraday short patterns for a stock that has just tagged an upper channel. Well, the previous chart is simply the reverse of that concept. Bears holding short have a potential to profit-take because price tagged that lower declining channel line.

You see, the edge of trading channels is the tendancy for price to hit the line and reverse. You're simply trading the reversal setup.

I very likely wouldn't have posted that (or even looked at it) had you not asked for where I saw an entry for it.

I wish I would of known, It hit @ 14.40 and it bounced off 14.07 and I missed it....I'm thinking of rebuying but trying to stay away...did you see PARL last couple of days?? 7 point jump!

[Thomrich]

Greetings Again,

Spike,if you could help on two questions.

Regarding ECPG,I see several failed inverted H+S patterns over the last 6 mos.The most recent is a possible valid entry?Or am I near sighted?

Also,could you recommend a symbol that reflect NYMEX oil spot prices.Ive been using XLE,but it is not very sensitive.^OIX doesnt register with Scottrade,any ideas?

cordially your friend Tom

[IIC]

GM was hammered by the news that the S&P downgraded its bonds to junk status! Down from $33 to $31, and only held there by Dr. K's bid to buy 10% of the company at $31. What a week for GM!

I don't want to toot my own horn...Personally, I'll post my record win or lose...But I believe I posted GM as junk weeks ago at Mr. B...Couldn't resist...GM is the US Air of the Auto Industry IMO

[spikefader]

Greetings,

Spike, I exited LEXR today at 5.30 from 4.49 last week.I didnt like todays action,as it couldnt keep the early morning high,did I exit too early?At least its in cash.

Do you still like EENC as a long?or has it fizzled out?

cordially Tom

(ain't it frustrating when you compose your answer to a post, put in a bunch of thoughts, and when you click submit you lose it all! just happened to me)
Anyway Thomrich,
I think you have exited too early with LEXR. There's the channel turn up, the minor channel boom day 2 days ago, and still room to the next channel short day. You probably left .40 on the table channel-wise. And as far as holding for the projection gap target, you left about $4.50 on the table. You had a good entry and gave it up dude! But hey, if it was your plan and you traded it, well done.

[spikefader]

Oh, and Thomrich, I loooooooooove EENC long. 2 channel turn ups and a nice 27.00ish target on the daily.

[b_critical]

Spike,

lets see if I got it now

Yes trades Long

OWENQ 2.68 or 3.59
GM 26.87 (not getting this one's entry)
ELN 4.35 or 5.07
LB 13.61

am I close now?


Bill

[spikefader]

Oh yes...I actuall bought at the apex in anticipation of a break...and when I got back it sure did break

congrats dude.

[spikefader]

...did you see PARL last couple of days?? 7 point jump!

nope didn't look at that one. That might turn into something...

[b_critical]

Spike,

Could you show me your charting on EENC.

Bill

[spikefader]

Greetings Again,

Spike,if you could help on two questions.

Regarding ECPG,I see several failed inverted H+S patterns over the last 6 mos.The most recent is a possible valid entry?Or am I near sighted?

Also,could you recommend a symbol that reflect NYMEX oil spot prices.Ive been using XLE,but it is not very sensitive.^OIX doesnt register with Scottrade,any ideas?

cordially your friend Tom

I'm seeing a SHS on the weekly that targets 12.70, and a channel short occurring today. Weekly not quite a channel short yet. Bearish bias.

[B.J]

Spike, I'm considering WLK. Your thoughts?

[Runner]

Spike does this chart of SIRI make any sense? It may or may not P/B before TGT 1