Hot Pick Of The Day

[New-born baby]

Thank You Dr. Spike

Yep, definately a descending triangle. A few channel turn downs going on lately, and there is a volume by price hole down at 30ish. Also, a break below the 43.75 low (which was a channel long day) would add fuel to the bearish fire. On top of that, the weekly shows it is threatening to break a 12345abc long entry point, which could prove volatile if that happens. Definately a reason to hedge any longs with put options if 43.75 doesn't hold.

But helping the neutral argument, there hasn't been a channel short on the weekly, and only a pretty minor channel short on the daily. I would definately have a short bias if there was a solid channel short day from the top, but absent that, and the bullish look of the monthly chart, I think worst case very short-term is 42ish and a solid bounce.

The bigger picture 5 year monthly chart still shows a big bullish pennant pattern, and I would expect that triangle to resolve itself in the next 3 months, and there is the inevitable break either way. Bull break, more likely in my humble opinion, at least a test of the top of 54.21 and maybe new highs; bearish break, and a test of 40.00. If that fails then 31.00 is definately on the cards, as the bigger bullish pennant would be looking to form a flag. The bottom of that flag would likely get bought solidly.

Interesting stock our friend FRO. I pray it doesn't become a FOE harhar

Thank You Dr. Spike for the professional outlook! Always glad to have your input at any time.

Also supporting your opinion is the fact that FRO has a $3.50 divy coming in June. That OUGHT to give it a bullish break (no guarantees, of course).

[New-born baby]

Why GM will die.

Hot Short of the Year: GM

Read this:

http://trimurl.com/16Y

You can forget about 'em. And when they cut the divy, look for a nice $8
drop in share price.

[New-born baby]

Hot Shot Pick Of The Day: Goog!

BillyJoe,

You can buy me a nice, juicy T-Bone steak when you cash in your chips here, because you'll have enough change to retire. GooG is going to make your dreams come true.

[New-born baby]

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[New-born baby]

3 May 2005

Hot SHORT of the day: DJO

Read and heed:




(Or better still: read and ignore).

[skiracer]

New-Born Baby,
There are a number of things that I saw a little differently with DJO that might be food for thought and could maybe stimulate another line of thought in your take on DJO. Of course I'm not trying to sway you but only to present another point to consider in your interpretation of the stock and your trade.
The handle isn't exactly the way a true definition of a handle would look but it's on diminishing volume and not quite sloping downward but tightly rangebound and horizontal. It would do for a handle for my purposes.
Sometimes the size of the chart changes the appearance of the candles just because of the size and the spacing of the candles. Because of that I like to use the larger of the sizes available. Play around with it an you'll see what I mean.
Anyway I looked at it from a daily chart, yours, and from a weekly chart and two different interpretations emerge. Only tomorrow will determine what will happen with the stock and since you aren't planning on buying in the afterhours tonight you aren't at any risk until tomorrow if you were to go ahead with the trade the way you planned. Of course waiting until the open or until the first half hour has passed will give a better picture of which way the wind is going to blow. As I said this dialogue is only for educational an informative reasons. Good luck with whatever way you go on this.

[New-born baby]

Thanks, SKIRACER

Ski,

You are correct. DJO IS a cup with handle. And it may break higher tomorrow. My view is that the overall market will set the tone for most stocks, and this is one of the most (imo). I expect the market to react negatively concerning Mr. Greenspan's rate increase. Of course, if he does not raise the rates, then I look for a bull tomorrow. But if both oil and interest rates rise tomorrow, I expect the same funk over the market that has been troubling it for the last month.

We shall see what happens tomorrow. But thank you for posting. I welcome "a second opinion."

[skiracer]

Only meant in the most positive fashion as food for thought.

[spikefader]

Hot SHORT of the day: DJO
Read and heed:

lol I'll call meself bullish on it with a target of 30.00.
EDIT: cuz of a channel turn up on the weekly and daily.

[New-born baby]

You Might be Right

lol I'll call meself bullish on it with a target of 30.00.
EDIT: cuz of a channel turn up on the weekly and daily.

You might be right. This is a daytrade for 3 May 2005 only. IMO everything rides on Mr. Green and the interest rate talk.

But thank you for the dissenting opinion. I value it, and a lot of others who read our threads do too. Please always post your opinion of anything I throw on the board. You, too, Skiracer!

[New-born baby]

4 May 2005

Here's a look at Eli Lilly. Cup w/ handle/

[spikefader]

Here's a look at Eli Lilly. Cup w/ handle/

Can the handle be that high for cwh?

In any case, I like it long today. Channel turn up yesterday after a bullflag on the weekly, and a channel short on the weekly is failing this week. Double bottom on the weekly. Moving up and away from good vol by price on the weekly. Next major profit-taking channel hit around 61.60ish, so good to chase for a couple points anyway before one should look for a pullback. Good daytrade candidate this one.

Long the closing price or the intraday pivot 59.55.

[New-born baby]

Thank You Dr. Spike

Spike,

As always, thank you and keep posting your opinions. My plan is to chase this one at the open. We'll see what price she opens at--but if it is at yesterday's close, I am going to go for it.

Like I said, I am a daytrader.

[New-born baby]

Lly

I didn't trade LLY this morning. The stock opened up with very weak volume, so I stood back. After hitting $60, she is now down about .25.

My view is that we are headed for a red day today. Market is acting very weak, even though it is currently green. Probably GM is most up the upside to the Dow right now.

Sick market. That's all I can say. More downside possible.

[New-born baby]

Hot Shot Pick Of The Day: Gm

WELL, WELL, WELL!

GM has a buyer! Billionaire wants to buy 10% of GM stock! GREAT NEWS!