Spike's Scientific Stock Analysis

[spikefader]

Found SMSC, thanks to IBD. Earnings will be out tommorow (December 15) in after hours. Looks to me like the chart is still quite bullish. I am thinking of maybe grabbing some tommorow around the $31.25 level? Last two times it has "sold into the earnings" and then just bounces right up after reporting them.

Spike, doesn't it look like a healthy ASCENDING TRIANGLE breakout? Where would you put your stop loss with this one?

I would love to see your chart...still learning on this side!

THANKS

SMSC minor channel long today, but no confirming pattern intraday that I like, so look for one! Vol by price support and longer channel support lower down at 28.00ish.

I'd recommend stalking tomorrow and Friday for a nice intraday inverted SHS or double bottom to take it long, with stop tucked under lod so hopefully a sub 2% risk stop. On the weekly it's showing it's done a 12345abc and another 1,2 so look for 345 perhaps to new 3-year highs, but not sure I'd hold it long while it sorts out that 36.50 price resistance. Which means if you get entry around 30.00 your logical target is 16%, which is good if you have a sub 2% risk I think.

But don't rush your entry; wait for perfection. And it's ok if you're working off a 15 min delay intraday chart. You can still attempt perfection; ya just not guaranteed of the best price if it runs fast.

OR you could just use the pivot point calculator to go for an S1 S2 or S3 entry. They are 30.66, 29.89 and 28.63. If you prefer this method rather than watching it, then I'd recommend put in limit to buy at 29.89 with auto stop at no worse than 28.99. That would make your target 22% and your risk 3% and a r/r of 7.3, which is pretty good and gives you some wiggle room And this way you've done it smart and kept a leash on it with a good solid plan in place. Only thing you need is patience for you entry, and ability not to feel bad if it takes off without you.
Webs knows all about that don't ya Webs! You've seen enough of your stalker stocks move without you. But that's the name of the game.

Good luck. Apologies Mystiky, no time tonight for charting.

[spikefader]

Oh, and Mystiky, I don't view it as an ascending triangle.

[skiracer]

Spike,
I'm not real familiar with trading the YM and how it works. I see that you made another nice play an are up over a hundred points. Could you explain how it works as far as what it takes to buy say one contract and what that would represent in gain if like your play it went up a hundred points.

[spikefader]

Spike, your the man! How do you do it???

Just following the system Perhaps one day I'll share that one too.

[spikefader]

Oh, thanks Ski, yeah, now I see that triangle mystiky is talkin about!..

Hey sekto! Wow, blast from the past that chart! MAGS....proof that bubbles burst! hehe

OK, for that charting I explained it just the other day about 'annotate' option. And to get the volume by price on the left, it's 'Price Overlays'. That help?

[spikefader]

Spike,
I'm not real familiar with trading the YM and how it works. I see that you made another nice play an are up over a hundred points. Could you explain how it works as far as what it takes to buy say one contract and what that would represent in gain if like your play it went up a hundred points.

Thnx.

Futures can actually be traded with very small margin requirements. ecbot initial margin per contract is $2,632, but brokers can lower it. IB publishes their requirements and I'd get the link if I had time, but gotta run soon. IB's search facility for "futures margin" will find it for you. Intraday it's sub $2k requirement per contract. Some places let you trade with $500 margin, but that's pretty tricky with so little - not much room for error.

Check ecbot for info and search my other posts. There's some educational links at ecbot.com for specifics. Most futures brokers offer $4.50 or better round trip. If you're very high volume you'll get even better. IB is competitive (Roundtrip = 4.26) and their platform is best value when you consider their one-click trading book trader features with OCA orders. 1 YM point = $5.00. Minimum price fluctuation/tick is one point. ES (S&P emini) is $50 a point, with 4 ticks to a point, so $12.50 per tick. NQ and ER are different again. I like YM's price action and volatility and it suits my game, so I like to swing with it, but I scalp the other eminis from time to time too. I have systems for all of them and plenty of ideas so if anyone here trades them fire questions and I'll do my best to help.
Gotta run, so l8r!

[skiracer]

Thnx.

Futures can actually be traded with very small margin requirements. ecbot initial margin per contract is $2,632, but brokers can lower it. IB publishes their requirements and I'd get the link if I had time, but gotta run soon. IB's search facility for "futures margin" will find it for you. Intraday it's sub $2k requirement per contract. Some places let you trade with $500 margin, but that's pretty tricky with so little - not much room for error.

Check ecbot for info and search my other posts. There's some educational links at ecbot.com for specifics. Most futures brokers offer $4.50 or better round trip. If you're very high volume you'll get even better. IB is competitive (Roundtrip = 4.26) and their platform is best value when you consider their one-click trading book trader features with OCA orders. 1 YM point = $5.00. Minimum price fluctuation/tick is one point. ES (S&P emini) is $50 a point, with 4 ticks to a point, so $12.50 per tick. NQ and ER are different again. I like YM's price action and volatility and it suits my game, so I like to swing with it, but I scalp the other eminis from time to time too. I have systems for all of them and plenty of ideas so if anyone here trades them fire questions and I'll do my best to help.
Gotta run, so l8r!

Solid, thanks Spike. I would like to learn alittle more about them. Never traded in them and was just curious about some of the basics. I'll check out that site.

[sekto]

can someone take a look at aob chart and give their comments or analysis on it? Thanks!

[Websman]

can someone take a look at aob chart and give their comments or analysis on it? Thanks!

I'm not liking AOB long at this point. It's dropped below the 50 day MA as well as the 9 day. I don't see much support until it drops to the 200 MA and that's at around $3.

I bought it and ended up taking a loss.

[sekto]

ive been following this company rwc for a while..
Its got a very impressive chart... What do u guys think?

i cant upload anything so heres the link to the chart
Be sure to check it out and give some feedback!

http://stockcharts.com/def/servlet/SC.web?c=rwc,uu[m,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G

[dmk112]

Speaking of triangles, take a look at CIB, that one qualifies as an ascening triangle.

[spikefader]

can someone take a look at aob chart and give their comments or analysis on it? Thanks!

Not looking good for bulls. If I had a long I'd be closing it here. I posted recently for AOB actually. It was one I was watching on the day it plunged from the top, and I bid at the low of day support for a double bottom entry that never filled, then I didn't like the price action and looked elsewhere. I later posted to Greb who asked about it, and I thought it was bullish while that low held. I actually really liked the look of it. But it made the bear flag that dmk112 correctly reminded to us, and it's been weak ever since. And I say it goes back to the dump day where it didn't generate the pattern for me. Patience and discipline steered me away from it thankfully. Anyway, here's the posts: http://www.mrmarketishuge.com/showpo...postcount=5228

http://www.mrmarketishuge.com/showpost.php?p=30891&postcount=5102

http://www.mrmarketishuge.com/showpost.php?p=30892&postcount=5103

http://www.mrmarketishuge.com/showpost.php?p=30894&postcount=5105

Also note the SHS (Head and Shoulders) reversal pattern up at the top of that chart pattern, sekto. Weekly chart shows a channel turn down from the 4.10 bottom, and it's looking slippery to me.

Hope that helps.

[spikefader]

ive been following this company rwc for a while..
Its got a very impressive chart... What do u guys think?

i cant upload anything so heres the link to the chart
Be sure to check it out and give some feedback!

http://stockcharts.com/def/servlet/S...2,26,9]&pref=G

Actually there is a tweezer top there now, so it may be a good short for a corrective wave down. Actually the weekly also showing it's due for correction to look for the 5th up. Channel long at 6.00 and channel long at 7.00 areas are good points to look for a confirming intraday pattern to take it long, but for now, I'd be preferring short side for maybe 15% retrace.

[sekto]

what do u guys think of (WLV) ?
I used the following filter to find this Thanks in advance

"Show stocks where RSI(14) crossed above 30
and RSI(14) 1 day ago was below 30 for the last 5 days
and close is between 2 and 100
and average volume(30) is above 50000"

[Runner]

NGPS actually sets up long from the minor channel long on the weekly last week, and earlier channel turn up from 37.15 weekly candle. When I consider the very boomish action late in 2004, it's got a really good upside potential. First target 40.00ish, and new highs over 52.00 in months ahead. Now that bias would be switched to neutral at a failure of the channel long on the weekly.

MTXX impressive move today. I think 21.00-21.50 is pretty tough channel resistance considering the sharp correction.

Good call Spike!!