Runner's Rascals

Several OIL stocks have similar charts. Here is CHK for example. I’m Bull here above red line…

Watch list:
ALJ ENERGY - Oil & Gas Refining & Marketing
AMZN INTERNET - Internet Software & Services
BAS ENERGY - Oil & Gas Equipment & Services
BYI LEISURE - Gaming Activities
CENX METALS & MINING - Aluminum
CHK ENERGY - Independent Oil & Gas
CRK ENERGY - Independent Oil & Gas
CRZO ENERGY - Independent Oil & Gas
DPTR ENERGY - Independent Oil & Gas
DVN ENERGY - Independent Oil & Gas
GMRK ENERGY - Oil & Gas Equipment & Services
KCS ENERGY - Oil & Gas Drilling & Exploration
KWK ENERGY - Independent Oil & Gas
RRC ENERGY - Independent Oil & Gas
SGY ENERGY - Independent Oil & Gas
TESOF ENERGY - Oil & Gas Equipment & Services
UPL ENERGY - Independent Oil & Gas
XTO ENERGY - Independent Oil & Gas

GOL looks interesting here. Might be trying to complete a double bottom on the daily chart and completion of this pattern will be around 30.24. If it can reclaim 30.24 with some vigor I think we could see a quick return to old highs around 35.00. Now the problem I see is oil is looking bullish and may drag the airplanes down. In fact having looked over several energy sectors It is looking like energy wants to run!!


sidenote: Further review of GOL I would have a bearish tone if it breaks last swing low. If it does this I see a possible s/h/s pattern. Interesting chart that GOL is in right now..

Still bull on SMH

ERS- currently had a nice acceleration of the trend. A few days ago it had a nice knock out move. I’m BULL here as long as 27.25 hold. One could look to go long off 29.89 and scale out @ 31.79 and trail rest.

ERS triggers did not trade today as I missed the entire session!

If today’s low gets taken I’ll have a bearish bias on NENG. I also do not like the drifting action it put in over the last several days. On a positive note I do however like the fact that price did recover off the lows today. I still think this one has potential and would really like to see it pop 3.25.

Greetings Runner,

Been away for a bit trading YMs with Spike,have noticed NENG still holding strong,are you still bullish above 2.70?

cordially Tom

ERS- currently had a nice acceleration of the trend. A few days ago it had a nice knock out move. I’m BULL here as long as 27.25 hold. One could look to go long off 29.89 and scale out @ 31.79 and trail rest.

Dave, nice to hear the J-hook is bullish. I’m not familiar with the pattern.

I take it that the J-hook is bullish?

CALM- thus far having a nice pullback I'm thinking 12's are possible if it breaks the down trend line off monthly chart.

A J-hook pattern is potentially bullish. It's a 1-2-3 pullback.

[IIC]

I take it that the J-hook is bullish?

CALM- thus far having a nice pullback I'm thinking 12's are possible if it breaks the down trend line off monthly chart.

Let's see what Dave has to say...But I like the pattern...although I would prefer a little lower vol. on the p/b...Notice the 3 down days...the vol increased each day...I would like to see the vol. decrease ea. day on the p/b...Doug(IIC)

A few monthly charts worth a look:

SPLS LLTC INTU VRSN PAYX ORCL CSCO KLAC

ZOLT making a J-hook pattern.

I take it that the J-hook is bullish?

CALM- thus far having a nice pullback I'm thinking 12's are possible if it breaks the down trend line off monthly chart.

ZOLT making a J-hook pattern.

ZOLT does trigger!!