Skiracer's stock slopes

[Websman]

any further drop and I'll be forced to bail on EGY... We will see what happens tomorrow.

Ahhhh...much better. I'll keep holding.

[riverbabe]

Hi Ski, sold the rest of IAAC @ 36.50.

[IIC]

BOT QLD again in the 90.50's and 90.40's...avg is 90.49

[Gwhiz]

I decided to play it safe today ... into mhj @ 4.95

[skiracer]

Had another death to contend with from this past Wednesday. I'll catch up with the posts and sheet when I get a chance.

[skiracer]

Had another death to contend with from this past Wednesday. I'll catch up with the posts and sheet when I get a chance.

A guy whose parents live across the street from Lisa and I goes into the hospital to get knee replacements about 2 weeks ago. He has had some problems with his heart and had a stent put in just over a year ago and has been on Plavix, to keep his blood thin, for the past year. About six months ago when they decided to do his knees they wanted him to wait another six months to give his heart a chance to strengthen and get used to the Plavix. Two weeks before the knee operation they start weening him off the Plavix for the knee operation. This guy is an ex Army sergeant and a Viet Nam vet and is just under a year younger than me at about 61. He looks to be a picture of health. He is a worrier though and was telling me how
he was worried about having this operation. He goes into the hospital two weeks ago and comes through the operation with flying colors and two days later has a massive heart attack and they have to put him in ICU and on life support. He lasts one week and dies this past Wednesday Morning. One minute you're alive and the next you're dead. He looked to be a picture of health.

Webs,
That was a nice short play on MED on Tuesday. Except for the fact that you put the horns on me it was a nice move. To bad you didn't have enough faith in it to make the play for real. It was a nice move down an a good spot for the short play after the recent gains. Coming back today though. I exited it on Tuesday at 12 and re-entered at 11.45 in the afternoon. It's working out nicely right now.

[billyjoe]

Ski,
Awesome job with MED.

--------billyjoe

[skiracer]

Ski,
Awesome job with MED.

--------billyjoe

In hingsight, which is always best, I should have exited it at the 12.60/12.70 range when I had a chance the day you exited at 12.24. It is working out well right now with the play and the POTW. There is the possibility, like you said, for it to be a two week in a row champion. Has it ever been done before? I don't know what the others at the top after yesterday are doing today. It's up over 4 points from the initial entry of 9.04. I can live with that although I like it to go over 15 and am going to let it run. No stop on it right now but am watching it everyday on the screen.

[skiracer]

I will be looking to sell AEM tomorrow into any show of strength where it begins to stall out. Still holding SNTS and BRKR. Both have breached my 7% stop loss points by a hair but I decided to give them both a little more room to breathe and now they are both back above my exit points and looking decent.

[Gwhiz]

skiracer, should be mhj

[skiracer]

skiracer, should be mhj

I'll change it in tomorrows sheet Whiz. Sorry.

[skiracer]

Alot of trading going on with some great results. DMK, please try to get me your trades when they happen. It's no big deal and I want to carry your results so that everyone can see how good you have been doing but it just makes it harder to carry so many positions in the columns without deleting them after the week they were traded. And they make more sense when they are closer to realtime. Thanks. I think from now on I'm going to insert the day the trade was entered since I have the space right under the names of each trader and to the left of each position. I think it will provide a more realistic understanding of the trade knowing the time element involved. I had to make up a couple of days so if there are any oversights on my part please let me know. Here's todays sheet:

[ParkTwain]

selling AEM soon - why?

Ski, I saw your post where you said you might sell AEM tomorrow on any strength. My question is: why? You've got a stock that has moved nicely into blue sky territory and with steadily improving technicals. Please reconsider and let the stock show what it's got. Put in your stop at its pivot point.

[OK, I just looked up MTG and saw what Wagner said in his weekly newsletter about the AEM setup. OK, put your stop one Avg Trading Range unit below the pivot point. But I would say, the main thing to watch for is that the technicals indicate continuing, if not actually improving, strength, confirmed by the volume, day by day. When reaching blue sky, you don't have to have see classic breakout behavior -- that might happen later, some % above the pivot. These things happen.]

I noticed on L.'s "timing cube" thread that you got the AEM pick from a service. Did the service also give you a sell point, or is it a percent gain or some other criterion? Either way, they're blowing smoke because you've now got a stock making all-time highs, and that is practically the BEST situation you can have. I've seen chart after chart year after year to back this statement up. There's some chance the stock will retrace to the pivot and dip below, but there's a greater chance that if it does retrace to the pivot it will also turn around and gain again FOR A LONG TIME, if the overall market cooperates.

I posted the other day about gold and mining stocks as a group, but in this case because AEM has broken out to blue sky, I would really recommend that you let it go, subject to prudent money-management principles, of course.

I had found AEM several days ago before it made blue sky and because of my personal bias (from experience) against gold and mining stocks, I didn't bite, but it now IS performing as I would have expected based on its technical set-up.

Regards...

[skiracer]

Ski, I saw your post where you said you might sell AEM tomorrow on any strength. My question is: why? You've got a stock that has moved nicely into blue sky territory and with steadily improving technicals. Please reconsider and let the stock show what it's got. Put in your stop at its pivot point.

[OK, I just looked up MTG and saw what Wagner said in his weekly newsletter about the AEM setup. OK, put your stop one Avg Trading Range unit below the pivot point. But I would say, the main thing to watch for is that the technicals indicate continuing, if not actually improving, strength, confirmed by the volume, day by day. When reaching blue sky, you don't have to have see classic breakout behavior -- that might happen later, some % above the pivot. These things happen.]

I noticed on L.'s "timing cube" thread that you got the AEM pick from a service. Did the service also give you a sell point, or is it a percent gain or some other criterion? Either way, they're blowing smoke because you've now got a stock making all-time highs, and that is practically the BEST situation you can have. I've seen chart after chart year after year to back this statement up. There's some chance the stock will retrace to the pivot and dip below, but there's a greater chance that if it does retrace to the pivot it will also turn around and gain again FOR A LONG TIME, if the overall market cooperates.

I posted the other day about gold and mining stocks as a group, but in this case because AEM has broken out to blue sky, I would really recommend that you let it go, subject to prudent money-management principles, of course.

I had found AEM several days ago before it made blue sky and because of my personal bias (from experience) against gold and mining stocks, I didn't bite, but it now IS performing as I would have expected based on its technical set-up.

Regards...

Park,
Thanks for your take on AEM. I always take into consideration what you have to say. I posted that I would sell AEM into any strength that it shows today if and when it began to stall out. First of all the stock came directly from Morpheus Trading Group's stalk sheet although I have been watching their ETF reports daily and they are strong on gold and the gold ETF's right now so I was watching that sector closely for any play in the basket of stocks that make up that ETF. They recommended AEM an I liked the chart and the play. I'm up over 2 points right now from my entry and was thinking that if it stalled out and consolidated and pulled back today that I would exit, take what I have, and look for another entry after the consolidation. I never really know what I am going to do until I actually get to that point in my plan. I agree with you that it is in a clear no resistance area right now and could really take off. I'm going to be watching it closely today to see what goes on with it before I do anything and if it still wants to run I will let it go until it does begin to stall out. Thanks for the commentary Park. Park, I would love to see you put a portfolio of some of your trades up on the sheet I have going on here on this thread. I take care of everything, all you have to do is post the entries and exits.
Park, if you go back to post #2051 on this thread you'll see the chart and the whole setup for AEM. It came right from Morpheus Trading Group.
I just went back and took a close look at both the daily and weekly charts and they both look great. When the RSI begins to get into the overbought area above the 70 line I like to keep a close watch for a normal pullback on consolidation of recent gains. They all always pullback at some point. Maybe this one has more gas left in the tank. We'll see.

[peanuts]

Ski

bought LOGC @ 3 even