Decisions, decisions (SIRI)

[jiesen]

Gee Ski, I put a big grin and a smiley, and a haha in there....it was a joke!! I was attempting to be light-hearted. I blame that second glass of red wine for its failed delivery. haha

I know you weren't knocking - but rather contributing info. Forgive the failed joke attempt and what surely you perceive as misguided 'ranting' in the face of your helpful supply of tech info on that pattern. I went off on the discipline tangent for whatever reason, and I obviously came off as defensive and self-righteous. Like I said, I'm no expert on ascending triangles. I've always said I can't recommend 'texts' to people. All I have learnt is from experience and net research. Bulkowski may be a respected authority, but I've not read him. There are many patterns I like and use (bullflags, head and shoulders, EW) and every one of them have 'rules' defined by so-called experts who have written a book about it. If I choose to integrate part of their theory into my trading without applying all the rules, and if I can do it effectively, then I'm happy. Say I take a SHS pattern, but it doesn't have what experts like to see in it, such as volume decline in the shoulders and head, if I happen to trade it well, despite the missing ingredient then that's OK. I guess my point in the rant was it doesn't matter what others are doing successfully that is the trick, but it's doing what YOU do successful that is important, whether that is bastardizing someone elses rules or not. I bastardize them and make it work. And the reason is the great R/R and the fact that I don't let the bad ones get away from me.

I really hope I don't come off as sounding like an arrogant defensive ass, because I don't think I am. That last cryptic thing about your floating question leaves me at a loss, but anyway it doesn't matter dude. It's all good, and I just wanted to say that. Thanks for all you add to the boards Ski, and just tell me to shut up with a grin when I'm a raving lunatic. Sometimes I go off on a tangent about stuff that I really believe with all my heart will help people trying to learn trading.

Spike, I fully understood and appreciated your point there. And I fully agree with you on it. Believe us, you have earned the right to rant on here as much and as often as you feel like it, even after a glass of wine or two. In fact, you're as much an expert as anyone out there, and if someone went and compiled a collection of your best posts, and sold it as "Spike's Rants" it'd probably be a bestseller! Keep up the good work, man.

[skiracer]

Gee Ski, I put a big grin and a smiley, and a haha in there....it was a joke!! I was attempting to be light-hearted. I blame that second glass of red wine for its failed delivery. haha

I know you weren't knocking - but rather contributing info. Forgive the failed joke attempt and what surely you perceive as misguided 'ranting' in the face of your helpful supply of tech info on that pattern. I went off on the discipline tangent for whatever reason, and I obviously came off as defensive and self-righteous. Like I said, I'm no expert on ascending triangles. I've always said I can't recommend 'texts' to people. All I have learnt is from experience and net research. Bulkowski may be a respected authority, but I've not read him. There are many patterns I like and use (bullflags, head and shoulders, EW) and every one of them have 'rules' defined by so-called experts who have written a book about it. If I choose to integrate part of their theory into my trading without applying all the rules, and if I can do it effectively, then I'm happy. Say I take a SHS pattern, but it doesn't have what experts like to see in it, such as volume decline in the shoulders and head, if I happen to trade it well, despite the missing ingredient then that's OK. I guess my point in the rant was it doesn't matter what others are doing successfully that is the trick, but it's doing what YOU do successful that is important, whether that is bastardizing someone elses rules or not. I bastardize them and make it work. And the reason is the great R/R and the fact that I don't let the bad ones get away from me.

I really hope I don't come off as sounding like an arrogant defensive ass, because I don't think I am. That last cryptic thing about your floating question leaves me at a loss, but anyway it doesn't matter dude. It's all good, and I just wanted to say that. Thanks for all you add to the boards Ski, and just tell me to shut up with a grin when I'm a raving lunatic. Sometimes I go off on a tangent about stuff that I really believe with all my heart will help people trying to learn trading.

Spike,
That cryptic thing that I mentioned is strictly about my own personality. A few of my trading buddies are always saying that I come off as to authoratative and strong and sometimes a little to sensitive to disagreement when I'm trying to get a point across. I'm beginning to think they might be right to some extent and that maybe I should keep my mouth shut and tone it down some. No problemo Spike and thanks for backing up a little for my benefit. I always take what you post as informative an useful an appreciative of what you do for this forum. Jiesen's last post is as close to the truth of the matter as you can get. As far as your rant on strategy and discipline I couldn't be more tuned in to your line of thought. We should all have that drilled into our heads everyday whether we need it or not. Thanks Spike.

[Websman]

Spike,
That cryptic thing that I mentioned is strictly about my own personality. A few of my trading buddies are always saying that I come off as to authoratative and strong and sometimes a little to sensitive to disagreement when I'm trying to get a point across. I'm beginning to think they might be right to some extent and that maybe I should keep my mouth shut and tone it down some. No problemo Spike and thanks for backing up a little for my benefit. I always take what you post as informative an useful an appreciative of what you do for this forum. Jiesen's last post is as close to the truth of the matter as you can get. As far as your rant on strategy and discipline I couldn't be more tuned in to your line of thought. We should all have that drilled into our heads everyday whether we need it or not. Thanks Spike.

Where else but here at Mr Market's forum, can traders can debate a point, yet remain professional and courteous. If this were the IBD board, this would have escalated into a full fleged war.

Spike and Ski, you guys are top notch! I enjoy learning from both of you.

[B.J]

I blame that second glass of red wine for its failed delivery. haha

Lightweight

[Websman]

Lightweight

Yep, that is lightweight, but red wine has antioxidants, which can help to lower cholesterol and helps fend of heart disease.

[B.J]

Good point Webs... so I drink a bottle of red every night, and I'll be REALLY set

[IIC]

Geez...You guys sure must be fast typists...it would take me forever to type that much...In fact, it took me forever to read it all

[spikefader]

Lightweight

LMBO. Truth be told, it was more than two, but hey, it's Sunday man and I ain't Catholic (confessions haha). I'd rather keep it quiet and protect my Christian image lol haha.

[B.J]

LMBO. Truth be told, it was more than two, but hey, it's Sunday man and I ain't Catholic (confessions haha). I'd rather keep it quiet and protect my Christian image lol haha.

Bad, Spike! Go to your room

[Thomrich]

Greetings,

As the novice of the bunch here,one thing I noticed about SIRI,is a similar pattern developed leading up to the run in late November,not that it means anything toward the future.

6.81 seems to have held strong,even after hours,although Yahoo shows 6.76,it must be an error,as Nasdaq AH shows low 6.80 ,high 6.85 last 6.81.

If I remember correctly,Spike called that as the perfect entry to wait for.

Am i correct in a strong move above 7 should provide the juice to bust this rising wedge?

BTW Spike LEXR held its own,and even moved after hours,I got some at 4.92,with a stop set at 4.73,I feel a return to mid 5s is likely.4% risk for 12% gain,could be better,but I figure Ill give it a whirl.

cordially Tom

[spikefader]

Ski, it's all good. Thanks for the feedback. Oh, I get it about the personality thing. Ya know, I think in this business ya gotta have excessive amounts of belief in oneself and the way ya do things. Confidence is a huge element, so it's probably a good trait to have, even if it does frustrate others sometimes! And no, don't shut the mouth. This type of exchange can be a positive thing to make us question our own realities and look at someone elses perspective. Your references actually led me to question my thoughts and then go do some reading of Mr. Bulkowski and Edwards and Magee, and really think about it. And I'm sure others got to thinking about it too. Thanks for the prompting.

jiesen, thanks bro.

Webs, yes I have no doubt you are correct. I think the environment here at $$MM$$ is good because we all seem to try to be civil and courteous in the face of confrontation or misunderstanding. Can't ya just feel the love?! lol

LMBO @ B.J

[IIC]

I think this calls for a GROUP HUG

[spikefader]

haha indeed. Cool smilies!

[Thomrich]

Greetings,

Any thoughts on SIRI today Spike?Looks like its gonna have a hard time piercing 7.

cordially Tom

[spikefader]

Greetings,

Any thoughts on SIRI today Spike?Looks like its gonna have a hard time piercing 7.

cordially Tom

Well, the neckline support has provided today's steam. Intraday ascending triangle moving into the daily falling upper channel, so it's a bullish intraday pattern going into channel resistance, and price resistance. But money is flowing into it up here after that bullish zero line reject on the daily. I'm optimistic it will beat 7.00 today.