Skiracer's stock slopes

[ninner]

i think if you are serious about investing or trading....ibd and their tools are the way to go....the best there is ..hands down!!!

[skiracer]

I was more implying what they supply as far as up to the minute breaking news throughout the day, their reports, etc... not a discipline or strategy to trade by. I subscribed for years to the paper and was a participant on the forum for three years running. I wouldn't knock the canslim discipline nor the paper but it doesn't work for me. The paper is way behind what's going on and the forum, well I left it outright, enough said.

As far as being serious about trading I think that the process called trading has evolved, because of realtime technology and greed, into something that requires being up to the minute on all breaking news coming off the wires and a substantial base of info regarding stock info, daily reports on the markets and their conditions, and what is driving them. Briefing.com gives me all of that and more minute by minute throughout the day without any particular self-serving interests or extra bullshit to sift through. Not to much happens throughout the day that gets by me when I'm running my screens and have them up. But everyone should go with what works for best for them. Don't you think you might be better off equipped with that info on a daily basis if you were trading intraday or over the short term.

[ninner]

yah the forum is sometimes something to be desired but there are some good posters there...as well there are lots here too

cheers

[ninner]

ihave a question for ya....do you trade for a living....how hard is it to become profitable...and do you know any solid references

[skiracer]

I don't trade for a living. I work like a dog everyday either in the office or in the field banging nails and running a crew. Plus a real estate business my wife an I are in together. I spend way more time with the stocks than my wife would like me to and she's probably right but it's a release. I've been profitable for along time but my losing trades far outnumber my winning trades. You should develope and evolve into your own discipline which will be a blend of everything you absorb in trading and life.
Maybe you'll become profitable an always honor your strategys with some patience.

[skiracer]

Here's one that I've been watching. I'm convinced that if it breaks above the resistance area at 3 it is clear sailing until 6 or so. Be sure to read the area on the right hand side of the chart. I don't know why it uploads like that but it gives a little info on the stock itself. An inexpensive little stock just ripening up for a decent gain.

[Runner]

thanks Ski another one to put on the radar screen..

[Runner]

Might MAIN be in a 3rd wave? Looking at a 5 year weekly

[skiracer]

Runner,
Explain what makes you think this could be a 3rd wave on the 5 yr. chart.
Barchart, who I always check for their opinion on a stock, an it changes everyday, rates this one pretty high at the present.

[Runner]

Ski, I’m away from my desk top and will post a chart latter. I can’t get my minor waves to match up right. Wow, Barcharts rates this stock very nicely. I’ve never used that site before. I normally try to drawl my own conclusions from what I see. I know at times my charts don’t make sense, but I’m careful about external noise. It is obvious that someone likes it based off the nice volume.

I don’t know how to do fundamental checks on a stock, but I do think MAIN is a stock with potential.

[skiracer]

Runner,
Barcharts is quite a good site for a number of things. You should check them out. Barcharts.com. You'll be impressed with what is available all for free. I use them alot for their scans etc.
I was just curious what you saw as the 3 rd wave up on that 5 year chart. Maybe when you get a chance just annotate your points for me. No big and no hurry.
I do like Main myself. I've been following it for a couple of weeks now and was going to mention it earlier but wasn't sure at the time that it was going to make the right side of it's cup the way it has. Now I'm getting ready for an entry this week if it breaks $3 which I feel it has a good chance of doing Monday morning.
What I really like about these low price issues is that you can really load up on them at these prices an a 1 point move is a substantial gain. A half a position entry for me would be about 4,000 shares so a half point or point move is nice and the total amount invested isn't that big of a deal. Of course I always keep them on a short leash and very seldom let them drop 7% without bailing. Can always re-enter.

[Runner]

Not sure on the count Ski! This is a 5yr chart of MAIN

[skiracer]

That's a pretty long cycle but I see your points. I'm generally looking at a year back with the stocks. Sometimes with commodities an other futures I'll look back up to 3 years or so. IIC had it on his momo list this morning. I love those coincidences where two people unknowingly come up with the same stock. Reassuring to some degree. Thanks for the 5 yr. chart. Keep a close eye on Main on Monday morning. I will be.

[skiracer]

[skiracer]

Bought it today at 2.85. Took a full position. See that last candle. Right at resistance and the 200 ma. It's a doji and signifying a struggle between bulls and bears as to which direction the stock wants to go. If it can break resistance at 3 it could be clear sailing for a point or so. A little higher volume today than average in a crappy market today. So it held it's own. That resistance at 3 is important to what is going to happen with this stock.