Spike's Scientific Stock Analysis

[dmk112]

Not a good day today spike.

[spikefader]

Yea I think I'm done for the day, got stopped out on every entry thus far. -20 on the day

Little hits and bites are acceptable to me; it's those big ones that hurt. That's one good thing about YM, i.e. chop doesn't hurt as much as the other eminis. Chop with ES and ER can really add up fast, and ES went through some seriously choppy times in the not too distant past and several traders I knew started trading YM exclusively.

Anyway, YM does this type of action from time to time too, all part of the game I guess. I want the next move, so I'm willing the dance around staying on the right side of the trade. Must look ridiculous to some readers, but that's what it takes; being nimble, and disciplined, being flexible and yet following your rules. Futes can frustrate the fire outa ya if you let it. Just shake it off, get composure, focus and try again. Some people just don't like the aggravation and will expose themselves to more risk, but I find this works for me. Dancing around looking for that perfect entry that I can let run for as much as I can. In choppy markets everyone is unhappy except for the brokers. But when it trends and you're on board that's when it makes up for it...and my recent posts attests to that. Sometimes one entry, sometimes a bunch, but over time it's robust. DOW is back down to that major trendline I keep referring to....and the daily pivot. Not trading that though...... still stalkin' short.

GOOG double top over 2 days....wondering whether I should take profit on those calls......hmmmm nahhh green hope dudes green hope.

[skiracer]

Little hits and bites are acceptable to me; it's those big ones that hurt. That's one good thing about YM, i.e. chop doesn't hurt as much as the other eminis. Chop with ES and ER can really add up fast, and ES went through some seriously choppy times in the not too distant past and several traders I knew started trading YM exclusively.

Anyway, YM does this type of action from time to time too, all part of the game I guess. I want the next move, so I'm willing the dance around staying on the right side of the trade. Must look ridiculous to some readers, but that's what it takes; being nimble, and disciplined, being flexible and yet following your rules. Futes can frustrate the fire outa ya if you let it. Just shake it off, get composure, focus and try again. Some people just don't like the aggravation and will expose themselves to more risk, but I find this works for me. Dancing around looking for that perfect entry that I can let run for as much as I can. In choppy markets everyone is unhappy except for the brokers. But when it trends and you're on board that's when it makes up for it...and my recent posts attests to that. Sometimes one entry, sometimes a bunch, but over time it's robust. DOW is back down to that major trendline I keep referring to....and the daily pivot. Not trading that though...... still stalkin' short.

GOOG double top over 2 days....wondering whether I should take profit on those calls......hmmmm nahhh green hope dudes green hope.

Spike,
When you catch a 125 point move on the YM what does that translate into in dollars? Not trying to track you but just trying to understand. Never traded them before.

[spikefader]

For the YM it is only $5.00 per point; 125 points is $625.00. Not a huge sum.

[spikefader]

Swing short YM 10916. 30 point stop.

[New-born baby]

Bni

Spike,
Would you care to look at BNI? Do you think it has anything left in the tank?

[Runner]

Not a good day today spike.

Choppy waters today..

[spikefader]

Spike,
Would you care to look at BNI? Do you think it has anything left in the tank?

Well it's been booming on the weekly and daily channels, and I think channels leave more room on the upside. Haven't done the count yet, but the 20 day charts shows a sell signal 2 days ago, and a double top with exhaustion gap on the 1st top, and the failure at the test with the 2nd. Arguably a SHS there too. Boy, that double top was the place to short it. But channel turn down today - check it again at close. Support seems to be 65.00, so you might get a 5 point drop in price. And just did the quick count on the daily and you've got 5th completion there, with the 'c' being the 69.25 low. So if that fails, there's your fuel to make money on selling the call (that's what you're thinking right?). Or an out of money cheap put play would work too.
You've got low volume gaps to fill too Good luck. Might play this one myself.....

[spikefader]

NB, CCJ dropped for 4 today, so look for the 5 up over the next few days.

[DSteckler]

NB, CCJ dropped for 4 today, so look for the 5 up over the next few days.

Assuming today CCJ makes a lower low than yesterday, it will be Day 1 of a Cooper 1-2-3-4 pullback.

[spikefader]

Swing short YM 10916. 30 point stop.

covered this at 10884 for +32. Funky system stuff going on and I'm buying support.

[spikefader]

Assuming today CCJ makes a lower low than yesterday, it will be Day 1 of a Cooper 1-2-3-4 pullback.

Thanks Dave. Do you put a bias on market generally, and if so how? And what are your thoughts on the DOW and S&P? Thanks.

[New-born baby]

Well it's been booming on the weekly and daily channels, and I think channels leave more room on the upside. Haven't done the count yet, but the 20 day charts shows a sell signal 2 days ago, and a double top with exhaustion gap on the 1st top, and the failure at the test with the 2nd. Arguably a SHS there too. Boy, that double top was the place to short it. But channel turn down today - check it again at close. Support seems to be 65.00, so you might get a 5 point drop in price. And just did the quick count on the daily and you've got 5th completion there, with the 'c' being the 69.25 low. So if that fails, there's your fuel to make money on selling the call (that's what you're thinking right?). Or an out of money cheap put play would work too.
You've got low volume gaps to fill too Good luck. Might play this one myself.....

Was thinking of selling the call and buying the put with their money

[New-born baby]

Ccj

Assuming today CCJ makes a lower low than yesterday, it will be Day 1 of a Cooper 1-2-3-4 pullback.

Thank you, Dave. I like your style. There is much I'd like to ask you without working you to death. So if this isn't too much to ask:

What's a Cooper 1-2-3-4 pullback, and how should one play it?

[DSteckler]

Thanks Dave. Do you put a bias on market generally, and if so how? And what are your thoughts on the DOW and S&P? Thanks.

Every time I think it weakens the nation....<g>

I think we generally move higher for the next few months (assuming no major news that rocks the market) and then steadily move lower until late summer or early fall.