Congratulations to websman. Keep up the good work.
Portfolio of the Week
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OK...I intend to win this thing this week
CHD TALX PGIC long
PS...Whaddya mean my pix are known for gapping up???"Trade What Is Happening...Not What You Think Is Gonna Happen"
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VTIV - long
HTRN - long
KOMG - long
I'm looking at this week as the b leg or 2nd leg (up leg) within an abc correction. My feelings are that we are in a downtrend and will be trending somewhat further down from here. Within all of this there will be uptrends and downtrends but the trend will be to lower highs and lows. One step forward, to get the retail guys optimistic and in and two backward as the smart money sells off into any strength they can.
I'm not saying you can't trade these markets but you will have to be nimble, quick, and unemotional. These downtrends are subtle and before you know it the drop has been 600 points in the DOW and 80 in the NAZ which is exactly what we have just experienced over the past several weeks. Like the Elliot Wave there will be peaks and valleys. Our job will be to trade the waves in the right directions as they change. Just my opinion but I think this week will be a long week overall on that 2nd or B wave in this overall correction. Hold my account open Billyjoe I might be adding another one or two the more I convince myself that this is going to be a long week.Last edited by skiracer; 04-24-2005, 05:33 PM.THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Ok, I'm ready to defend my title.
I'm going short on all of my picks again.
Here are my picks and the reason I picked them:
1. IPIX - I made money by going long on this one last year. Now it's dead in the water.
2. MSO - Martha may have violated her probation. Could she be headed back to the joint? Uh oh...Watch out MSO shareholders!
3. KKD - I love their donuts, but they tend to put unwanted weight on me. Besides, they're on the edge of bankruptcy. KKD is going down for the count.
So there you go. Three big losers... IPIX, MSO, and KKD
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Originally posted by billyjoeIIC,
That's a compliment. I want mine to gap up on Monday every time I purchase on the previous Friday, but it rarely happens.
billyjoe
Anyway, my 3 pix this week are based on the chart patterns. I found CHD when I was running my Cup w/ Handle scan yesterday...I was going to list it as a CwH but the p/v is not correct...although some of the others I listed are not "Classic" either.
TALX has a flag thing going on and PGIC blew out the 10 21 and 50 sma's on Friday. PGIC also has some excellent EPS projections. I did not search for news on any of them although I will tonight...Good Luck To All...Hope I don't repeat as the worst this week...IIC"Trade What Is Happening...Not What You Think Is Gonna Happen"
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pickin time
Congrats to da Webman well done
4 stocks this week all longs
1- AH New deal past Friday should rise
2- LAKE Took dip on downgrade will recover good earnings
3- VNO Growth continues
4- PLLL oil play sector just wont go away
Go luck to all
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Originally posted by rickflyboyThis week's picks
VLO
HW"Trade What Is Happening...Not What You Think Is Gonna Happen"
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