Skiracer's stock slopes

[skiracer]

thanks for that webs. i like snda pretty much right at this level. low today of 51.10 was a great entry but this is still a good play. i'll try to get a chart up later.

[skiracer]

thanks for that webs. i like snda pretty much right at this level. low today of 51.10 was a great entry but this is still a good play. i'll try to get a chart up later.

i didnt get a chance to post a chart on this stock and setup yesterday but the stock made a nice move up today to close at $54.27. it's high of the day was at $56.72 which was 2.45 pts. higher than it's close today so there was plenty of room for gains and profit taking. sorry i didnt get a chance to post a chart with my annotations but this one was a great opportunity and there is still plenty left in it from recent highs above $60. keep your eyes on it please.

[yoyomama]

Skiracer is taking a leave of absence from this forum...please wish him luck.

So Ski, you missed me right...that's why the return?

Good to have ya back.

[skiracer]

So Ski, you missed me right...that's why the return?

Good to have ya back.

i was in a bad mood that day and was a bit off balance for a number of reasons. i love talking stock talk and hate it when i make an ass of myself by stating things that i know i dont mean. but shit happens so please forgive me.

[billyjoe]

Ski,
Is it just me or are you getting better with age? It seems you've been hitting it out of the park lately on many of your picks. Especially when we disagree with you and end up eating crow it sticks in our craw and memory.

-------------billy

[skiracer]

Ski,
Is it just me or are you getting better with age? It seems you've been hitting it out of the park lately on many of your picks. Especially when we disagree with you and end up eating crow it sticks in our craw and memory.

-------------billy

billy,
i'd like to think i'm getting better at trading as i get older and longer at it. but i think sometimes it just runs in spurts and i'm in one of those spurts right now. but i have been on a roll thank God and
Ernie for those last two FUQI and SNX. we'll see if i can continue the run for a while longer. right now i like MED, SNDA, FEED, and CBOU

[yoyomama]

i was in a bad mood that day and was a bit off balance for a number of reasons. i love talking stock talk and hate it when i make an ass of myself by stating things that i know i dont mean. but shit happens so please forgive me.

Eh...I'm off balance every day. No need for any apology anyway good to see ya back. I actually used a stop in your honor yesterday and didn't get stopped out!

[skiracer]

yo,
i'm glad that using the stop turned out positive for you. they are a great tool but only when used properly and still a market maker will get you sometimes. good show.
one of the biggest concepts that i follow is that of following the trend. when the markets are trending up i look for long setups and trades. and when they are trending down i look for short setups and trades. there are a few indicators that i watch closely for signals that the current trend may be changing. here are a couple of paragraphs by a market technician that i subscribe to. he doesnt provide stock tips or anything like that, but only presents charts and discussions about market trend and tells his subscribers whether he is bullish or bearish on a broad range of markets, etf's, commodities, currencies etc... and the reasons he feels that way backed up by charts and the indicators he uses. here is his latest take on where the current market is and where it may be headed. he primarily uses the S&P 500 when talking about the market.
anyone that would like to view his site may do so by going to www.decisionpoint.com and taking it from there. this is the best site that i could lead anyone to for the information that it provides about everything imaginable regarding the markets. if you are looking for stock tips you will not find them here. but if you are looking for direction and information about everything regarding the markets this is as good and complete as i know of. definitely worth taking a look.
if there is some technical terminology or other points regarding chart patterns or indicators mentioned here that anyone new to technical analysis might not fully understand please feel free to ask about them and i will try to explain or lead you somewhere that you will be able to find a good explanation or example of what you might be questioning.
there are two concepts that i follow almost religiously: "follow the trend it is your only friend" and more importantly, "trade what you see not what you think". two very important ideas to live by.

[skiracer]

here are three charts on MED, FEED, and CBOU. i am high on all of them and already own MED. with the markets cooperation, see previous post and charts, these 3 will provide great trades. but dont buck the trend or spit into the wind because it just doesnt work out the higher percentage of times. make the edge in your favor by following the trend and trading what you see not what you think. but i do love FEED and CBOU and thank you ernie for bringing them to our attention by giving us the fuffrey list. and always remember that if you dont protect and manage your trades with a well thought out plan regarding your entry point, exit target, and protective stops you deserve what you get. and always try to make the "edge in your favor" good luck. here are their charts:

[skiracer]

i am also still liking SNDA alot and will post another chart on it sometime over the weekend. have a great 4th of july weekend everyone. eat and drink it up but no driving if you are going to drink please. come back safe and sound for the opening bell on monday.

[wooish]

Thanks for chart, I learned a lot from it. What do you think about oversold/overbought about these stocks as I believe at least one of them looks overbought.

I would like to know how to place proper stops because I've been badly burned from a bad trade which I didn't place proper stop. Take FEED for example in this case, if I were to buy at 5.75 today, would 5.20 be a good stop since it's 2cents right below the 50EMA?

Also, MM can see all stops. You know how they are all crooks and intentionally take out all stops.

[skiracer]

Thanks for chart, I learned a lot from it. What do you think about oversold/overbought about these stocks as I believe at least one of them looks overbought.

I would like to know how to place proper stops because I've been badly burned from a bad trade which I didn't place proper stop. Take FEED for example in this case, if I were to buy at 5.75 today, would 5.20 be a good stop since it's 2cents right below the 50EMA?

Also, MM can see all stops. You know how they are all crooks and intentionally take out all stops.

wooish,
i'll get back to you later on this afternoon about your questions. glad you picked up something from the charts.

[skiracer]

Thanks for chart, I learned a lot from it. What do you think about oversold/overbought about these stocks as I believe at least one of them looks overbought.

I would like to know how to place proper stops because I've been badly burned from a bad trade which I didn't place proper stop. Take FEED for example in this case, if I were to buy at 5.75 today, would 5.20 be a good stop since it's 2cents right below the 50EMA?

Also, MM can see all stops. You know how they are all crooks and intentionally take out all stops.

my own max stop point is 7% which in the case of FEED at $5.75 would be .40 or at $5.35. Stockcharts.com has the 50 ema which being a moving average at $5.22 would be a strong line of support but that would be 9 % or 2% lower that what i normally use. in this case i wouldnt be against using the 50 ema as a stop loss point because the stop would be sitting right on a major support line. i use 7% as my max stop out point but you have to find a number where the risk is comfortable for you and your account. the higher the % stop that you use makes it that much harder to make your mathematics work for the number of trades you have to win out of 10 trades. i also use fibonacci retracement lines as points to place a stop because they are also strong support lines.
i should explain that because of my situation where i am in the office most of the day in front of my screens and watching my plays and the overall market action i usually dont set physical stops unless i am leaving the office or holding overnight. when i say i set a stop i mean that i have that stop loss point price in my mind as where i will pull the trigger to exit and protect my gains or to exit to limit my losses. that method can be a harder way to honor your stops because you have to bring yourself to do it rather than having it done automatically for you when price crosses your stop loss point. but however way you do it whether you are sitting watching the action or away from the screens it is always best to use them for stopping losses if they occur and protecting gains.
regarding overbought and oversold on the RSI scale. it is just an indicator signalling that the price and the volume has entered an area where past experience and examples have shown that the chances that price action will stall out once above or below specific lines. CBOU, as an example entered the overbought area above its 70 line on the RSI scale back in mid april and stayed above that line until mid june but during that period of being in the overbought range it moved up another 3 pts or so. it is just an indicator and should be appreciated only as that. it signals to be on the alert because the stock has entered an area of concern. with the more experience you accumulate from trading and using stops and indicators you will learn how to deal with the ideosyncracies of using them.

[skiracer]

just exited CBOU @ $6.10. - .35 / -5% sorry guys but didnt like the way the wind was blowing today. still like the stock and would re-enter after this action is over and done with.

[yoyomama]

Yeah looks pretty ugly so far today.