Spike's Scientific Stock Analysis

[Bakxs]

Advice

Thanks again.

I will take your advice and hopefully add to my box o' trading tools.

Good trading to everyone~

--Bakxs

[spikefader]

Re: OFG

limit order to sell OFG at $30.70 ... did not get filled...Stop orders are just as bad as limit orders. With stop orders, the problem is the bid-ask spread, especially with low volume securities like OFG.
My view is that I probably should hold OFG. What is your take?

By the way, I subscribe to StockCharts.com as you do. Do you use the Scan Engine to find trading ideas? If you do, can you post or email me (at [email protected]), which ever you feel is appropriate, your Scan Engine trading screen?

Ya, low volume stocks with stop orders can hurt you for sure. That's why it's a tricky business extricating yourself from some divers. You either bite the bullet and take the pain or you wait for a retracement. My view for OFG is per the last chart and may change again in 5 minutes time. all readers should remember that TA can turn on a dime so my stance will change more often than people consider worth the hassle. Right now, it's turned bearish to me. On that basis, I'm looking to exit any long I'd have - like at a logical resistence point, like 30.70, 31.10 or 31.40 are my intraday points I've got.

But consider this: You've riden it down to support and it looks like it's got potential to bounce from the price/volume area of 30. Thus far, itraday, it's lookin' bullish and could very well head up to recover and hit Mr.Market's target. Find what risk you have - put it in your plan, and trade that plan no matter what. Modify your plan certainly, but don't compromise a rule if you have one.

[Websman]

sgms

Hey Spike...
How about some neighborly analysis on SGMS? I had a pretty decent profit until today. Looks like a sell off in heavy volume...not good. But, I'm still not over 8% down. Do you see any chances that this stock will rebound??? I hate to take a loss, but if I must I will.
My personal feeling is that it will form a base before breaking out again.

I'm am saddened by my potential loss...The market sucks right now

[spikefader]

Re: sgms

Hey Spike...
How about some neighborly analysis on SGMS? I had a pretty decent profit until today. Looks like a sell off in heavy volume...not good. But, I'm still not over 8% down. Do you see any chances that this stock will rebound??? I hate to take a loss, but if I must I will.
My personal feeling is that it will form a base before breaking out again.
I'm am saddened by my potential loss...The market sucks right now

Sure partner. I knew that poor volume at the channel touch was a good reason to pass on the long. Sorry you let a profit turn into a loss. Gotta love stops for that reason. Many say never let a profit turn into a loss and you can only do that if you're really disciplined.

You could hold out in hope that it's going to make a SHS formation (as in the pic below) or you might want to extricate yourself from it at the 4 day upper channel. Support at 19.70 failed today, which is now resistence. 20.20 is the next resistence I see intraday. I see no clear pattern intraday today to suggest a reason to buy it yet, such as head and shoulders or bull flag.

Anyway, the chart:

[spikefader]

OFG intraday

Today's intraday patterns - only a weak looking SHS in the morning that gave buyers only enough reason to take it to the upper channel/moving averages. Simply not enough interested bulls to do it.

[Bakxs]

Spike's Opinion, Onegaishimasu.

I was wondering what your charts come up with for MIDD & UWN.

If you are too busy, I fully understand & I'm sorry to be a bother. But after going over $$MM$$'s original Patriot Day Dump, these two stocks really stood out (along with FRN).

Thanks in advance.

--Bakxs

[spikefader]

Re: Spike's Opinion, Onegaishimasu.

I was wondering what your charts come up with for MIDD & UWN.

MIDD and UWN - beautiful examples of patterns and stuff.

[ParkTwain]

Distribution in your vocabulary?

I don't see you use the word "distribution" in your descriptions of chart activity. For instance, today was a distribution day (decline on higher volume than the previous up day). for MIDD.

[mimo_100]

Re: Distribution in your vocabulary?

I don't see you use the word "distribution" in your descriptions of chart activity. For instance, today was a distribution day (decline on higher volume than the previous up day). for MIDD.

http://tinyurl.com/2hrbg

115.2 (today) vs. 194.8 (yesterday)

[spikefader]

MIDD

I'd buy it right now anywhere between 49.00 and 49.20. Intraday triangle breakout.

[ForeverInvesting]

Nasdaq 100 Index

Spikefader,

It looks like the Nasdaq 100 Index may break (tomorrow perhaps) the 50 DMA at 1458. If it does, what price level would be a good short entry? Do you think it could go to the 200 DMA at the 1397 level?

Thanks,
Michael

[spikefader]

Re: IPIX spikefade

The first spike up on a minute chart would have you short somewhere between 23 and 23.70 holding nicely now as she's falling.

Further to our sample "spikefade" trade setup for IPIX ...

A nice place to cover for here at 15.00 for +8.00 (had we been able to take the short - none on IB for me anyway). Covering end of day and around daily support as per previous charts.

[spikefader]

Re: Nasdaq 100 Index

Spikefader,
It looks like the Nasdaq 100 Index may break (tomorrow perhaps) the 50 DMA at 1458. If it does, what price level would be a good short entry? Do you think it could go to the 200 DMA at the 1397 level?
Thanks,
Michael

I'm actually bullish on the market (and will remain so until my signals tell me otherwise), so it's hard to advise you on the short side. I think the smart money bought today's weakness and we will see new yearly highs over coming weeks.

If you were to short it, I'd be suggesting resistence at 1500ish with stops if it makes a bullish neckline break on the inverted head and shoulders the NDX is forming.

[spikefader]

Re: Warning to longs OFG

This one not looking too good technically.

Is today a day for OFG to bounce up from the gap area?

[spikefader]

Re: TRMM

Spike, What are your thoughts of a position in this stock? TRMM- Thanks The Photon

I'd put an order in to buy it at today's low and look for a double bottom. Or, wait for 20.00 and buy it there. Channels at this stage say it could bounce well.

Did you take it long Photon?