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2nd chance.
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Spike take a look at SCH
It's breaking out give me your take If time pemits I feel I should buy this oneRay LongComment
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I wouldn't be buying the SCH breakout. It's chasing. There will be a great r/r entry for it; just not now. The time now is for patience. Give yourself an edge. Don't give it away dude.
If you are going to chase it, wait for a channel turn up, like 3 days ago down at 14.40 or 7% ago. That is the only time chasing is worth it (for me anyway). Breakouts aren't reliable enough imho. If you want to buy one, wait for the return to the support line to take it; not during the breakout.
Good luck.Comment
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Thomrich,
Maybe I was incorrect with HANS. I'm reconsidering it now there's what looks like an intraday double top now. The minor channel short there, up near that price resistances, might be good r/r with a spike up to 50.60 entry short with 1% risk over hod. To target 37 or 26% makes great r/r really.....
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Thanks Spike GOTCHA
Just trying to learn how to play.Ray LongComment
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Nwre
Thanks Spike. I jumped the gun a bit and got in at 18.68 which I'm not unhappy about.Originally posted by spikefader2nd chance.
"Whatever you can do or dream you can , begin it. Boldness has genius,power and magic in it." GoetheComment
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Originally posted by spikefaderThomrich,
Maybe I was incorrect with HANS. I'm reconsidering it now there's what looks like an intraday double top now. The minor channel short there, up near that price resistances, might be good r/r with a spike up to 50.60 entry short with 1% risk over hod. To target 37 or 26% makes great r/r really.....
Greetings,and thanks for keeping it on your radar.
It seems to sell off above 50,and the highs from the past couple of months are lowering.A book Im reading about shorting identifies stocks that have had sky rocket returns,coupled with splits as some of the parameters to include,HANS has both.
Earnings are next week,and the entire success of HANS has been its energy drink.With inflated fuel prices folks maybe passing on $2.00 drinks,similar to SNAK's misfortune.
I am going to sell short tomorrow,and look for a pattern to enter,wish me luck.
Im itching and scratching to short sumfin,NGPS is on my screen too.
cordially TomComment
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Name
Tom,.
What's the name of the book? And would you care to write a paragraph listing the parameters of stocks to short? I'd like to hear . . . .Comment
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Greetings,Originally posted by New-born baby
The book is by William O'Neil of IBD fame,called "Selling stocks short"WHile Im not a follower of the "canslim" method from IBD,he really doesnt apply it on the short side.
A summary of chapter 1 on a checklist for short sells goes llike this,
The market should be in a bear trend preferable in the begining.They should be fairly liquid,he likes 1 million shs. per day trade.Look for the leaders from the ending bull market,as they tend to fall the most.He gives patterns to look for,SHS,wide loose bases that fail.He also uses the 50 and 200dma crossover as a signal.
From his examples he seems to miss alot of the drop,looking to capture after the avalanche is going.
I think if a person can read the signs of the times,shorting can be useful.A perfect example was the low carb stocks that skyrocketed,as in CALM,it became the biggest short last year,and everyone was waiting for the squeeze,and it never came.The fad was over,and holding the bag was all that was left.
HANS has me stalking,as its been a huge runner,with a split,and a fad type driver to its success.If it cant break through its last high from about a month ago,it could be in big trouble.Alot of shorts betting on it.
Well see soon enough,
cordially TomComment
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