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Re the QQQ short: There is the neckline break with a nice wave down.
Will it form a bear flag now and a series of 5 waves? We'll see.
I you missed the entry, it's not too late yet: http://img.photobucket.com/albums/v1...9intraday2.jpg
RMBS bearish: An example of how to hedge a long position if you have one.
The chart is bearish, so you want to hedge it. Buy some Put options - may I suggest the Nov 12.50 Puts for 1.75 right now. I'll follow up on this later in the month.
Investors just piled into GNTA. Volume up by over 2500%. No news releases, but somethings gotta be up there! I'm taking the ride!
May I suggest that you wait until 2.30 to go long. That is 50% retrace of them move, and price support area. Be careful because there is a SHS on a 5 minute chart that has a neckline break already that targets the 2.10 area!
ABTL has been running along a fairly narrow channel and had a huge volume spike today (+441%). It was up .32, which doesn't seem like much for the amount of volume.
I believe this warrants further investigation...something could be up here.
A theoretical question for anyone with an opinion. You are tracking two stocks for 8 weeks that are nearly identical in all aspects. One stock drops about 15% by week 4, but gains it all back by week 8 with a slight gain. The other stock never drops during the 8 week period, but has only a slight gain at the end of the tracking period. You must purchase one of these stocks . Which do you choose and why?
p.s. both of the stocks have outperformed the market in the previous 6 months
billyjoe
HAR had a pretty great week, don't you think? Any thoughts on where it's headed, Spike?
Ya, great week indeed! Boy, where IS it going? Briefly, I suspect it will finish this wave up at around the $105.00 mark, and then it will have to decide if it's going to turn into a big SHS, or continue a series of waves up. Bias is definately on the long side, but entry is tricky now. It's chasing to buy it now, unless you use tight stops like me.
But the reaction to this wave up (ie when it finishes this wave) will be more telling.
ABTL has been running along a fairly narrow channel and had a huge volume spike today (+441%). It was up .32, which doesn't seem like much for the amount of volume.
I believe this warrants further investigation...something could be up here.
Ya, well I'm neutral on this one at the moment. It's near support, but hasn't shown me enough yet.
A theoretical question for anyone with an opinion. You are tracking two stocks for 8 weeks that are nearly identical in all aspects. One stock drops about 15% by week 4, but gains it all back by week 8 with a slight gain. The other stock never drops during the 8 week period, but has only a slight gain at the end of the tracking period. You must purchase one of these stocks . Which do you choose and why?
p.s. both of the stocks have outperformed the market in the previous 6 months
billyjoe
Hey billyjoe. I'd need to see the charts. If you're interested in the TA argument for both stocks, then one can't do it without seeing them. See, on the one hand, the 15% drop may sound bad - a sign of weakness - but it could have bounced nicely off a significant channel, and would give reason to favor it over the other one. At the same time, the 15% drop could have been through channel support, breaking it, and now the recovery has brought it to channel resistence, which is the place to sell it. So much depends the price history of both, the reactions at support and resistence, the volume at those points, and how many pretty lines and pictures and comments I can throw on the charts
Spikefader, I'm finding it more difficult to find the 15% drops followed by recovery than the steady gainers, but here goes. Two that match up pretty well as steady gainers with similar prices are NATR and USON. I can't match up two with drops and similar prices, but two that fit the requirements are TKTX and ISRG. Thanks for any information and opinions on these stocks.
billyjoe
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