Hot Pick Of The Day

[DSteckler]

Re: VSEA

Looking hot to $50's anyway. Right now it needs to bust $36.

How do you get to $50?

[New-born baby]

Dave

How do you get to $50?

Dave,
Thanks for asking. Here's how I figure it:
1st target is $42 ($8 from cup to $34 breakout point),
2nd target is $57 via PnF chart.

Yup, PnF target is sometimes too aggressive, and possibly is here, market conditions being what they are.
But tech has been very hot of late.

Post any hot picks you have here for a discussion. We'd enjoy it

[Runner]

NB, I’m wondering if MDCO might make a push for 23.75.

[New-born baby]

NB, I’m wondering if MDCO might make a push for 23.75.

If it does, my friend, it will have to first push through the 200 day average at $23.25. The weekly is bullish, as well as the daily. PnF and Dow Theory both point to $29.50 targets. RSI on the daily shows MDCO is a little too hot right now, and may pullback some before moving higher. But the chart is bullish as you know.

But I know Runner well enough to know that you have a reason that MDCO won't make it to $23.75. Besides the 200 day, what is it, my friend?

[Runner]

NB, thanks for your reply.. It is nice to get a reply every once and awhile.. You for one do a great job responding to your thread. Keep up the awesome work…

I have not put the 200dma on the chart…Does the 200 act as a wall of resistance? I agree she is due for a P/B before moving on.. Who knows I guess we shall see. If I remember in the next week or two I’ll try to drop in and see what’s happening..

[New-born baby]

NB, thanks for your reply.. It is nice to get a reply every once and awhile.. You for one do a great job responding to your thread. Keep up the awesome work…

I have not put the 200dma on the chart…Does the 200 act as a wall of resistance? I agree she is due for a P/B before moving on.. Who knows I guess we shall see. If I remember in the next week or two I’ll try to drop in and see what’s happening..

Runner,
I have read that the "Most reliable indicator" is the 200 day moving average. At least it "was voted by traders as the most reliable indicator." Bears live below the 200 day; bulls above it. Some professional traders look to short at the 200 day. So that is why I say it will have a little resistance there.

Talk to Dave Streckler. He'll sometimes alude to the 50 day. "[A stock] should find support at the 50 day" or "I'll buy this stock if it can get over the 50 day average." I think he is probably best able to expound on the moving averages. How about it, Dave?

[New-born baby]

Black Gold, Texas Tea

Here's a crude chart, and boys and girls, we are living on the edge. First of all, the point and figure chart says that West Texas Intermediate Crude is headed to $60 per barrell. Dow Theory shows us the major support right here at the $68.50-69.00 level. Add to that the 'highs to low' line, and it should be an excellence chance that WTI bounces higher here. Add in the RSI 30 and STOs crossing at the 20 line, and we've got a traditional 95% chance of a major bottom being put in right here. At least, that is Dow Theory. So on the one hand, we have the PnF saying that crude is dropping to $60; and on the other hand we have Dow Theory saying that crude is about to put in a major bottom here at $68.50 (which we have already touched and bounced up from) and prices are going much higher from here. And I should mention that oil is still on the official long term bull trend.

Here's the Dow side of things:

[Lyehopper]

NB, thanks for your reply.. It is nice to get a reply every once and awhile.. You for one do a great job responding to your thread. Keep up the awesome work…

I agree.... That's why he has such a high H/P (hits to posts) ratio....

[New-born baby]

Weekly Crude report . . . .

Here's the weekly on crude. And you can see that support, which is very strong, should hold, but if it doesn't--short oil stocks with every last ounce of strength you have.

[New-born baby]

I agree.... That's why he has such a high H/P (hits to posts) ratio....

My H/P ratio is the number of hits I've taken in the chops for what I've posted!

NBB takes shot to head after saying 'dissing [Mr. Market poster's name deleted]'s favorite stock. Mr. Market watches to ensure a fair fight.

NOTE: NBB lost the fight but made $$$ as he shorted the stock . . . .

[New-born baby]

Whatever happened to . . . .

Whatever happened to . . . ELN?

I just noticed: nobody talks about ELN anymore. And it just came off of an ugly double bottom to bust out higher, too.

Here's what an ugly double bottom looks like: it has a single bottom pointing down, followed by a double hit on the right side. (See arrows). Pretty effective formation, and ELN is moving higher.

[Runner]

NB, this is a daily of CBOE Oil Index


AMEX Oil Index


Energy

[New-born baby]

Thanks, Runner

NB, this is a daily of CBOE Oil Index


AMEX Oil Index


Energy

Head and shoulders--all of them. Same with the $WTI charts, too.
If I wasn't in love with oil, I'd flat out say we'll see $56 oil by Thanksgiving.

Why not post your comments about those oil charts? I'd love to hear it. And Lye, you too Let's here it

[Runner]

Be careful as Iran may have a few tricks over the short term!!

[New-born baby]

Be careful as Iran may have a few tricks over the short term!!

Exactly. It isn't so much demand as it is terror.