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  • spikefader
    Senior Member
    • Apr 2004
    • 7175

    IMAX: Potential C entry at today's low. See it there?

    Comment

    • Websman
      Senior Member
      • Apr 2004
      • 5545

      Originally posted by spikefader
      IMAX: Potential C entry at today's low. See it there?
      I see it and missed it...I was at work.

      Comment


      • Wipe that frowny face off your screen, Webs. It's back down there again today. You just have to wonder about buying it in a freaky market such as this.

        Comment

        • Websman
          Senior Member
          • Apr 2004
          • 5545

          To tell the truth, I'm afraid to buy anything in this freaky market.

          Comment

          • New-born baby
            Senior Member
            • Apr 2004
            • 6095

            Sell it first

            Originally posted by Websman
            To tell the truth, I'm afraid to buy anything in this freaky market.
            Webs,

            Don't buy, sell it first.

            There are exceptions: FRO jumped $2.12 today. But yes, the market is kinda sick right now.
            pivot calculator *current oil price*My stock picking method*Charting Lesson of the Week:BEAR FLAG PATTERN

            Comment

            • Websman
              Senior Member
              • Apr 2004
              • 5545

              Has anyone been watching NTE? It should be due for a correction soon.

              Comment

              • Websman
                Senior Member
                • Apr 2004
                • 5545

                I'm headed to the local Bass Pro Shop to take advantage of a sale on 2 stroke Boat motor oil. This place is a Redneck Paradise! They haven't gone public, but if they do, I'll be the first in line to buy stock.

                Comment

                • skiracer
                  Senior Member
                  • Dec 2004
                  • 6314

                  I took a look at NTE and think that you may be onto sometime for a couple of reasons. The first one being that the tech sector is very weak right now and that's a help if you're going to short something there. On the daily those last two days candles are showing signs of weakening. Thursdays was showing consolidation after a few days of uptrend and two small gaps up last week. Fridays was indecision on lower volume on basically a down day for the markets which kind of stopped the uptrend whether temporairly or to begin further consolidation remains to be seen.

                  I would bet on a small reversal and pullback to fill those two small gaps to around 24/25 area. Both the RSI and the CCI are in the overbought areas on those scales so a small drop could easily be in the cards this week. I'm adding it to my picks for the portfolio of the week, although I don't know for sure if I would enter a short position but it looks good for that. I would have to see how things go after the bell on Monday.
                  THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR

                  Comment


                  • This is a weekly chart of NTE. Look at where the best play would have been with this one. IMO I think one may be late to the party buying at current prices, but I’m clearly not an expert in chart reading!!

                    Comment

                    • skiracer
                      Senior Member
                      • Dec 2004
                      • 6314

                      Runner,
                      Were you speaking of going long or short with a trade. I was looking more at the daily chart for a short term short position. I definitely wouldn't consider a long position at this point with the markets and tech sector being as they are.
                      THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR

                      Comment


                      • Skiracer the weekly chart whispers short to me from 29.50 range
                        Last edited by Guest; 03-13-2005, 11:08 AM.

                        Comment


                        • Spike, what is your take on NTE?

                          Comment


                          • Originally posted by skiracer
                            I took a look at NTE and think that you may be onto sometime for a couple of reasons. The first one being that the tech sector is very weak right now and that's a help if you're going to short something there. On the daily those last two days candles are showing signs of weakening. Thursdays was showing consolidation after a few days of uptrend and two small gaps up last week. Fridays was indecision on lower volume on basically a down day for the markets which kind of stopped the uptrend whether temporairly or to begin further consolidation remains to be seen.

                            I would bet on a small reversal and pullback to fill those two small gaps to around 24/25 area. Both the RSI and the CCI are in the overbought areas on those scales so a small drop could easily be in the cards this week. I'm adding it to my picks for the portfolio of the week, although I don't know for sure if I would enter a short position but it looks good for that. I would have to see how things go after the bell on Monday.

                            Skiracer, I would agree with the daily chart TA you have done.. Surely some profit taking has been going on from Thursday’s action. Now the question is will thhis gap act as support?

                            Comment


                            • A move up or down is clearly instore for NTE. This is a 60min intraday chart!!

                              Comment

                              • skiracer
                                Senior Member
                                • Dec 2004
                                • 6314

                                The more I look at it the more I like a short play. I usually only use the 15 min. chart for intraday decisions, perhaps a day trade if I see a big move starting, and the daily and weekly for a more precise trading decisions where I'm going to be in the position for a few days to a week or longer.
                                THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR

                                Comment

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