Spike's Scientific Stock Analysis

[spikefader]

Newborn,
Thought I'd post this for ya:

[spikefader]

B.J nice trade with INNO! Channel turn ups can rock.

AIRT sets up bearish to me.


MXT bullish bias.


VNBC needs to do more work so I'm neutral on it.


Good luck next week.

[B.J]

Thanks for taking the time, Spike!

[B.J]

Also Spike, forgot to congratulate you on your WLK short call last week. You recall I thought the trend had changed, but you said short.

I actually nibbled, but cut my loss short at around the 26 area (and glad I did )

[spikefader]

Thanks for taking the time, Spike!

You're welcome.

Also Spike, forgot to congratulate you on your WLK short call last week. You recall I thought the trend had changed, but you said short. I actually nibbled, but cut my loss short at around the 26 area (and glad I did )

Thanks. I remember I took WLK short in the port competition a few weeks back. And then that last chart I posted of the weekly showed the short bias. Wow, it sure dropped nicely from that channel short on the weekly!

[New-born baby]

I am out! Thanks to you!

Newborn,
Thought I'd post this for ya:

Gotta love Spike!

Man, I got out--100% out the door--before the hammer fell! Thank you for the warnings! It made a difference--I figured about $7100 difference in two days! That is a LOT of money! Thank you!

I'd love to have a MrMarketisHuge steak bash somewhere. I'd buy you that A&W root beer and a DQ blizzard!

By the way, the exchange rate was .8083 when I got out--near the top.

[spikefader]

This stock sure reacts poorly to good news!!! Spike, is this stock still worth holding long in your opinion?
thanks.

Hey noshady!
Many stocks react poorly to good news. It may be because the rumor existed that there was going to be good news, the stock got bought on the rumor (by the smarty pants), and the good news was 'baked' into the price by the time the news actually came out. Then when it DOES come out, people sell the news release to take profits, knowing they were smarty pants and that the news was already factored in. So then how does one play the news? One is very cautious about holding long at news time. One must gamble with it or tighten stops and react. Find the nearest good support level and put a stop under it. Now, that said, if the news is good enough, and it beats what the smarty pants had factored in, then a stock has the potential to shoot up and get bought based on that new 'unanticipated' news. That's when shorts can get hammered and longs get a big fat delicious bonus.

So always consider that it is more complicated than assuming a stock will rise on good news. Sometimes it just doesn't make sense I tell ya! But it is what it is!

With EENC, it's a messy chart channel-wise, but I'm seeing up potential. The orange triangle will likely be important.

[New-born baby]

Eenc

With EENC, it's a messy chart channel-wise, but I'm seeing up potential. The orange triangle will likely be important.

SmartyPants here with my uninvited ten cent opinions.
I don't like the EENC. Why? For the same reasons I didn't like BPT when Spike said it would go from $49 to $60. (Of course, BPT DID go from $49 to $60!).

In any case, that orange triangle should break Monday IF--IF the oil price drops any further. If oil rallys higher Monday by more than $1, then EENC might see the upside of it all. FACT: oil inventories in the US were at six year highs last Wednesday. That's what led to the massacre of the oil price (from $54 to $4 and all the oil stocks (including EENC) last Thursday and Friday.

On a technical basis, Spike has rightly identified the descending triangle, and just like he said about FDG--"my gut says it is going to drop."

Please don't take any offense at my post here. I just think NOshadylady is holding EENC and I am looking for a return to $18 or even $16 in it (but that is just me).

[Runner]

This is my intraday take on EENC, Spike do you mind?

[New-born baby]

Fdg

Spike,

You ought to look at your call on FDG. From $92 down to $78 in one week.
What could I say, something like, "nice call?"

[spikefader]

No offense at all Newborn. It's fun discussing this stuff. Also helps clear the cobwebs and keep me on my toes.

Runner you can post charts here any time you like

I should clarify what I meant by 'seeing up'. EENC whispers prices above 24.24 in coming weeks/months. It could seek some lower support first. It may want to drop to the 18.00 vol by price/yellow daily channel line. It may seek lower.

But look at the blue and red channel busts! They are clear and decisive on impressive volume. The weekly is also showing bullish bias while that channel long holds ( I think it's 19.25 on that chart but not sure)



So right now, the bias is up. But the daily is messy and choppy, and hard to read. While the yellow channel is upward and unbroken, and the blue weekly holds then bull is in charge I think.

[Runner]

Great chart Spike, I’m in the playing with lines mode for some reason. As for EENC unless it gets some bulldog action soon you very well might be on target with 19.25. Market may help it out this week.. We shall see

Spike, what ya think of my line play on ELN? I posted it on my thread!

[spikefader]

Spike, what ya think of my line play on ELN? I posted it on my thread!

Ain't it cool when lines make some order of price action! Some stocks follow them; some don't. The ones that do tend to follow trendlines better obviously have the better, more pure, price patterns and more reliable trades I think. Those ugly and hard to read patterns instill less confidence when you're playing them.

[Runner]

I think eln has another hole open

[spikefader]

Spike,
You ought to look at your call on FDG. From $92 down to $78 in one week.
What could I say, something like, "nice call?"

Thanks.

This is a great one to recap and look at what can happen after a profit-taking upper weekly channel tag. Greedy people who hold despite these type of significant events are going to be disappointed by their greed every time. There is a time to take it off the table; and that tag was the time.

The channel tag at the high:



the possibilities



the last channel short was pink, and bull hopes killed when green line failed:



leading to the reality:


And the weekly channel from May 04 has dropped to $73.80, so it's likely not over yet.

But there was a minor channel long this past week (from Aug 04), so at least an opportunity for long. I'm looking at the wave count, and we are in a possible corrective 4th looking for a 5th up again to new highs. This count could be wrong though, and the 1st wave could have started back in Oct 03, which means the big weekly 5th is over and we're in an abc correction, meaning price may be about to get choppy for several weeks while that sorts itself out. My head hurts again