Spike's Scientific Stock Analysis

[spikefader]

YM: swing long 11074. 30 pt stop.

Caught a good entry today

[New-born baby]

Well what you're lookin' at is a valid setup resistance play. But a 'c' long is until it ain't, and I'm lookin' for a bit more impulse up before the 2 correction....
Intraday 70.00 should support well, and if it doesn't then maybe the 2's starting....
The weekly for AAPL still looks OK, and the drop was impulse corrective....and it looks like it's owed one more up to new highs......but daily chart looks sick, save for the 'c'. I still like it long while the 'c' holds.

I think Monday I am going to be looking to short AAPL after the first impulse up near the open. In other words, I think AAPL will probably move up .35 cents or so, and I am going to be looking short at the first resistance I sense. We'll see how things work out the rest of today and tomorrow. That plan can change. But I do notice AAPL has pulled back to the $70 mark right now, and I am thinking that the sellers are going to come back in after expiration.

[spikefader]

$pike:
AAPL may start to rotting. I know I am getting my head handed to me on the POTW. Its not real money, so I let AAPL ride. But if you take a look at the chart for AAPL, what you'll see is that AAPL head and shoulders broke the neck. Then, today we are having a retest of the broken neck. Setting up for a short, imho. Friday is options expiration, so that also plays a part, I think. In any case, what do you think?

http://img308.imageshack.us/img308/4465/chart15vc.gif

Well what you're lookin' at is a valid setup resistance play. But a 'c' long is until it ain't, and I'm lookin' for a bit more impulse up before the 2 correction....
Intraday 70.00 should support well, and if it doesn't then maybe the 2's starting....
The weekly for AAPL still looks OK, and the drop was impulse corrective....and it looks like it's owed one more up to new highs......but daily chart looks sick, save for the 'c'. I still like it long while the 'c' holds.

[spikefader]

YM: swing long 11074. 30 pt stop.

[New-born baby]

Aapl

$pike:
AAPL may start rotting. I know I am getting my head handed to me on the POTW. Its not real money, so I let AAPL ride. But if you take a look at the chart for AAPL, what you'll see is that AAPL head and shoulders broke the neck. Then, today we are having a retest of the broken neck. Setting up for a short, imho. Friday is options expiration, so that also plays a part, I think. In any case, what do you think?

http://img308.imageshack.us/img308/4465/chart15vc.gif

[spikefader]

AAPL bullish bias for me. It's coming off a daily 'c' that confirmed yesterday, and intraday shows the support volume there, and a pattern to look fer upside. I do see the SHS with neckline break, and kiss of death intraday, but I'd pass on that considering the other stuff.

Follow up.

[New-born baby]

Thank you

$pike,
That helps! I just have to work on my counting. It seems that it made a significant edge with your work, and I hope it will with mine.

[spikefader]

$pike:
Here's a dumb question. How do we identify what Elliott Wave a stock is in?
In other words, how do we know that a wave up is #1 or #3 or #5? I'd appreciate your help.

I think KISS is the way I do it. I like to study a chart for 30 seconds or so, trying different combos and seeing what different options there are before I start labeling. Nothing worse than going to the trouble of labeling a bunch of stuff only to get well into it and see your count is wrong...

But if you can't see the first 12345abc after 30 seconds of looking at a 1 yr or 6 mth chart, then don't bother spending any more time on it. Once ya get the hang of it and you do it every day for a few weeks you'll be able to glance at a chart and within seconds see the first 12345abc.

Tip: You might wanna try using raff channels at stockcharts (the click and drag ones) to help you find the 'a's and 'c's. It's amazing how often a channel long will coincide with a corrective.

But basically, you're looking for that 1st impulsive move up out of a wash area or congested choppy un-impulsive price action. If you find the first abc corrective pattern, work backwards and forward from there.

Look for subwaves within a bigger count. Subwaves will affect how you count it up.

Be flexible, and knokw that your count may turn out to be completely wrong.

A count might jump quickly from the page and a breaze to label.....or it may be a stock that simply hasn't acted impulsively enough to count it easy....or it could be like AAPL, and have subwaves within each odd impulse of a bigger move, making it really tricky and time consuming.

Hope that's helpful. And remember; my counting breaks a lot of rules! hehe

[New-born baby]

Dumb Question

$pike:
Here's a dumb question. How do we identify what Elliott Wave a stock is in?
In other words, how do we know that a wave up is #1 or #3 or #5? I'd appreciate your help.

[RL]

Thanks Spike for all your time your the greatest

[spikefader]

Spike:
Got time for 3 questions?
#1. With the less than enthusiastic follow thru today in the markets, are you bullish?
#2. What do you see in the NASDAQ, short-term?
#3. Did you get that good looking short you have in the POTW from a scan or pick it based on the class action suits filed against PQE?

Sure dude.

1. Yep, still bullish fer now. Stalked for a YM swing long today; just never presented.
2. I think while that pink channel long holds the bias has to be long.
3. The PQE pick was from a scan on the weekend for large % losers. I liked the fact that it's got a gap projection target to meet still (1X the gap value subtracted from the high on the day it gapped down), the gap was high volume, and the other charts looked so bad. See this post http://www.mrmarketishuge.com/showpo...postcount=6688

[spikefader]

Spike Is OXPS In a 'c'? I don't know how to read It

This is what I'm seeing:



previous chart:

[Gatorman]

Spike:
Got time for 3 questions?
#1. With the less than enthusiastic follow thru today in the markets, are you bullish?
#2. What do you see in the NASDAQ, short-term?
#3. Did you get that good looking short you have in the POTW from a scan or pick it based on the class action suits filed against PQE?

[RL]

Spike Is OXPS In a 'c'? I don't know how to read It

[spikefader]

MRK lovers:

Looks like it wants to take out that channel short. The count is good, and it's a 'c' long candidate.....

Breakout for MRK today... hope someone got on board!