Runner's Rascals

[B.J]

Runner, what did you see in IVAC that would trigger a short? It seems to me like it's successfully supporting 21.

[Runner]

Runner, what did you see in IVAC that would trigger a short? It seems to me like it's successfully supporting 21.

BJ, I see a stock that is in a downtrend and has currently pulled back with trigger under yesterdays low of day. I feel this one is in trouble

[spikefader]

IVAC shows a bear flag breaking into a 3 impulsive down. This support area you see B.J is actually C support from mid-March, so if it breaks then the impulse down is likely to be very rewarding.

How rewarding? Well, probably not very considering it's in a weekly C down and arguably in bounce area...plus you've got the gap supports nearby. The r/r probably isn't there...unless you go for the small gap down under 12.60 or +43%, so a short at closing price with a 6% stop above yesterday's high (the 2 completion area) makes for r/r of over 7, which is a nice number. But how realistic is it to target that in the face of the support between here and there? That is green hope indeed

[Runner]

Spike I was thinking 1st TGT of around 18.74 and longer term 8-10 $ range.

[B.J]

I also see a possible SHS. I'm definitely watching.

Thanks for the input guys. I've owned since January, so certainly interested.

[Runner]

Zero triggers today on the short side NCTY had nice follow through.

[Runner]

Here is a nice drop in KSS http://geoshorttermtrading.blogspot....iew-51906.html

[New-born baby]

Peix

Runner,
Would you care to do an Elliott wave count on PEIX for me?

[Runner]

NB, sorry I don’t get a clear read on PEIX. I’m keeping my eye on 32.75 area. This stock is very volatile with a H/V reading of 107.96. Right now I like it on the short side but that could change any day. Not sure it is done with its pullback and if it triggers it might give another leg down. Seems to be drifting up and this flags a caution longs. I will go out on a limb and say longer term 17.00 area is possible. But this is a stretch.....

[DSteckler]

Runner,
Would you care to do an Elliott wave count on PEIX for me?

It's an easy count. The move from 1/31 to 5/11 is Wave 1. The recent move is Wave 2. Note that wave 2 retraced 61.8% of Wave 1, which is the common retracement for Wave 2. Assuming the length of Wave 3 = Wave 1, PEIX should be in for a helluva move. Until the high of Wave 1 is taken out, however, there's no confirmation that Wave 3 has begun.

[Runner]

NB, sorry I don’t get a clear read on PEIX. I’m keeping my eye on 32.75 area. This stock is very volatile with a H/V reading of 107.96. Right now I like it on the short side but that could change any day. Not sure it is done with its pullback and if it triggers it might give another leg down. Seems to be drifting up and this flags a caution longs. I will go out on a limb and say longer term 17.00 area is possible. But this is a stretch.....

Missed PEIX and will not chase it here...

[Runner]

Ran entire database and have 1822 returns out of 7,000 stocks. 77 that I think are setting up for a slide. I’ll post the sub industries and if anyone is interested I’ll post the socks. The scan is based of momentum and in pull back mode. The groups with the most returns are where I’ll investigate and see what is going on. Confirmation is when several in the group are setting up.



BANKING - Regional - Northeast Banks
BANKING - Savings & Loans
CHEMICALS - Specialty Chemicals
COMPUTER HARDWARE - Networking & Communication Dev
CONGLOMERATES - Conglomerates
CONGLOMERATES - Conglomerates
DIVERSIFIED SERVICES - Business/Management Services
DIVERSIFIED SERVICES - Business/Management Services
DIVERSIFIED SERVICES - Rental & Leasing Services
DIVERSIFIED SERVICES - Staffing & Outsourcing Services
DRUGS - Diagnostic Substances
ELECTRONICS - Diversified Electronics
ELECTRONICS - Semiconductor - Integrated Circuits
ELECTRONICS - Semiconductor Equipment & Materials
ENERGY - Independent Oil & Gas
ENERGY - Independent Oil & Gas
ENERGY - Independent Oil & Gas
ENERGY - Independent Oil & Gas
ENERGY - Independent Oil & Gas
ENERGY - Oil & Gas Drilling & Exploration
ENERGY - Oil & Gas Drilling & Exploration
ENERGY - Oil & Gas Drilling & Exploration
ENERGY - Oil & Gas Drilling & Exploration
ENERGY - Oil & Gas Drilling & Exploration
ENERGY - Oil & Gas Drilling & Exploration
ENERGY - Oil & Gas Equipment & Services
ENERGY - Oil & Gas Equipment & Services
ENERGY - Oil & Gas Equipment & Services
ENERGY - Oil & Gas Equipment & Services
ENERGY - Oil & Gas Refining & Marketing
ENERGY - Oil & Gas Refining & Marketing
FINANCIAL SERVICES - Asset Management
FINANCIAL SERVICES - Closed End Fund - Equity
HEALTH SERVICES - Medical Appliances & Equipment
LEISURE - Restaurants
LEISURE - Sporting Activities
MANUFACTURING - Diversified Machinery
MANUFACTURING - Farm & Construction Machinery
MANUFACTURING - Farm & Construction Machinery
MANUFACTURING - Industrial Equipment & Components
MANUFACTURING - Metal Fabrication
METALS & MINING - Aluminum
METALS & MINING - Copper
METALS & MINING - Gold
METALS & MINING - Gold
METALS & MINING - Gold
METALS & MINING - Industrial Metals & Minerals
METALS & MINING - Industrial Metals & Minerals
METALS & MINING - Industrial Metals & Minerals
METALS & MINING - Industrial Metals & Minerals
METALS & MINING - Silver
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
METALS & MINING - Steel & Iron
RETAIL - Department Stores
SPECIALTY RETAIL - Apparel Stores
TELECOMMUNICATIONS - Diversified Communication Services
TELECOMMUNICATIONS - Wireless Communications
TELECOMMUNICATIONS - Wireless Communications
TRANSPORTATION - Major Airlines
TRANSPORTATION - Major Airlines
TRANSPORTATION - Railroads
TRANSPORTATION - Railroads
TRANSPORTATION - Regional Airlines
TRANSPORTATION - Trucking
WHOLESALE - Electronics Wholesale
WHOLESALE - Industrial Equipment Wholesale
WHOLESALE - Wholesale, Other
WHOLESALE - Wholesale, Other

[New-born baby]

Runner

Runner
Thanks for the PEIX notes, and yes, I am quite interested in the results of your scans. Please post them.

[New-born baby]

It's an easy count. The move from 1/31 to 5/11 is Wave 1. The recent move is Wave 2. Note that wave 2 retraced 61.8% of Wave 1, which is the common retracement for Wave 2. Assuming the length of Wave 3 = Wave 1, PEIX should be in for a helluva move. Until the high of Wave 1 is taken out, however, there's no confirmation that Wave 3 has begun.

Thanks, Dave. I always like to hear your viewpoint. IF wave 3 is coming, yes indeed, that $64.50 is in sight.

[Runner]

NB I put in last 5 days volume as well. Now these need Further investigation and many very well may not be ready yet, as they are still pulling back. I’m going into the groups this weekend and see how things look.
AA
ABAX
AEOS
AMT
AMX
ANDE
ARII
ARW
ASEI
ASTE
ATI
BAS
BRY
BVN
CAL
CAS
CCJ
CHAP
CMC
CR
DO
DRQ
ECA
ERF
FCL
FCS
GLG
GMRK
GMT
GOL
GSF
HERO
HSC
ICE
IVAC
KCS
LTM
MAN
MBT
MDTL
MRTN
MTLM
NDE
NEM
NEU
NOV
NSC
NSS
NUE
NWRE
OS
PBW
PD
PEIX
PJC
RIO
ROP
RTI
RUTH
RVI
SSRI
STLD
STT
SU
SWN
SWSI
TAM
TEX
TSO
TX
UNT
VLO
WPSC
X
XTO

I took the volume out because the post was a mile long...hehe