Skiracer's stock slopes

[skiracer]

Hi everyone! It's been a long time.

Question: I recently got singed from this bear 3x gold holding of mine. What do you think? Time to go long on the precious metals or not?

Margie

I'm assuming that when you state "precious metals" you specifically mean gold or silver. Gold is the key here and although I love to own both, the gold ETF, GLD, is the chart I'm showing because I feel gold is more representative of precious metals in general and it's ETF is more representative of what gold is doing rather than any of the gold stocks. I wouldn't be a buyer here yet. Patience will pay off. I would wait a bit to see which way the wind is going to blow. So much is hinging on the upcoming presidential election and how it will effect our economy that indecision is what is holding everything in check. As you can see that rangebound area between the blue lines has been the constant of late and will be until the election has come and gone. This administration has done nothing for our economy and because of that it has effected the price of gold and made it rise. If this administrations chances of being re-elected strengthen then you will see the price of gold rise as we get closer to the election because everyone knows that our economy will become that much weaker if he does get re-elected and gold will be the place to be if our economy gets any weaker. If it looks like he isn't going to get re-elected you will see gold weaken because a new administration will strengthen the chances of our economy re-vitalizing itself under Romney. This is how I see it but the charts do not lie and here is the chart with some explanations of what has been going on and what to expect. PS, stay away from those 2x and 3x ETF's. They are sucker bets for the retail trader and certainly are not long term holds. The hedge fund guys manipulate them at their discretion and people like yourself get left holding the bag and relying on "hope" because you have no idea of what is going to take place. The difference being that they do!



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[skiracer]

Ski, I can screen for a great list of potential stock buys but don't quite know the proper steps to pick a buy from the list. I know you look closely at the 20DMA. Could you share a few of the other factors you check off to make a selection, volume, market trends etc. Thanks


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

It always helps to be able to determine a "market trend" whether it be up or down because 75% of tradable stocks will follow that trend. Accumulation / Distribution days are important in the overall picking and decision making process within any definable trend. These are two important factors but chart patterns are what I rely on. Specific types of chart patterns like cup bases with handles and Ascending Triangles in bullish market trends. Also like Inverted Head and Shoulder patterns. These three are tried and proven to perform in a distinct manner a high percentage of the time especially in bullish markets. Fibonacci lines always work well for me. And I rely very much on moving average crossovers. When a stocks 20 or 50 ema crosses back above or drops back below one another or it's 100 ema that is significant in respect to what to expect. When I see a stocks 20 ema cross back above it's 50 ema after having tracked below it for a period of time I certainly wouldn't be looking to short that stock at that time and visa versa. Moving average crossovers are purely plain and simple in showing how that stock is trending and what to expect from it over the immediate short term. And when a stock is making a move towards a moving average crossover, either up or down, it is definitely stronger to see it doing it on high volume as opposed to low volume.
Getting to know the chart patterns and what the percentages are for those patterns to perform as expected is what I rely on to increase my "edge" and to make the edge lean more in my favor. Everything is a game of percentages and making those percentage play in your favor is the key. If the percentages are always in your favor then you will outperform a higher number of times and that will guarantee that you will be successful and profitable. Study those chart patterns and build your base of knowledge off of your understanding of them. Then apply the secondary ingredients like volume, moving average crossovers, fibonacci lines, accumulation/distributation days, etc... into that understanding. When you apply all of that to the stocks in your screening results then you will be able to select the ones that fill all of the required components. Add emotional control to that mix and that will separate the wheat from the chaff.

[skiracer]

And I should point out that sometimes it pays to rely on your plain old "gut feelings and some "racing luck" about an issue. The occasions are limited where a stock will fill all the explicit items you are looking for. The one thing that I have and I think that now you have going for you is that you will "honor your stops regardless" and exit a trade way before the loss becomes intolerable. This insures that you will last longer and increase the percentages for your being successful and profitable because you are no longer relying on "hope" and you are in control of everything regarding the trade.

[billyjoe]

Put a few sheckles into HOV Billyjoe and let it sit. Anywhere in this range/level or lower is cheap and a great buy.

Ski, I did buy HOV and it's doing good. Thanks


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

[noshadyldy]

DUST/ precious metals/ Gold

wow, welcome back noshady! it's sure been awhile!

As far as getting back into a gold position, my opinion is that now's probably a good time for it- we'll likely see some pretty serious inflation in the coming years. I like CEF for the exposure to both silver and gold.

**********
THANK YOU Jiesen, Mr. Market and Skiracer for your recommends and guidance. Much appreciated. I'm still a dabbler but if I can say one thing about the little progress I've made over the years it is that my stomach is stronger and therefore I'm not so trigger happy. (Man, was that expensive!!)

Thanks again, buddies. Glad to be back and will be popping in from time to time. Please continue to have such goodnatured patience with me if ( WHEN) I ask dumb questions.

Margie

[skiracer]

**********
THANK YOU Jiesen, Mr. Market and Skiracer for your recommends and guidance. Much appreciated. I'm still a dabbler but if I can say one thing about the little progress I've made over the years it is that my stomach is stronger and therefore I'm not so trigger happy. (Man, was that expensive!!)

Thanks again, buddies. Glad to be back and will be popping in from time to time. Please continue to have such goodnatured patience with me if ( WHEN) I ask dumb questions.

Margie

Margie,
you should pop in more often especially when you are contemplating making a buy or trade just to get some feedback. It might be helpful in getting some feedback and might even end up saving you some money. Good luck.

[noshadyldy]

wow, welcome back noshady! it's sure been awhile!

As far as getting back into a gold position, my opinion is that now's probably a good time for it- we'll likely see some pretty serious inflation in the coming years. I like CEF for the exposure to both silver and gold.

Oh Jiesen, have you ever played SLW? I made a really nice profit on that a while back when it went from my entry point of 16 to over 40. I'll likely invest in them again in the future as they can't be beat for their per ounce cost. (silver)

[noshadyldy]

Margie,
you should pop in more often especially when you are contemplating making a buy or trade just to get some feedback. It might be helpful in getting some feedback and might even end up saving you some money. Good luck.

Definitely! Thank you.

[noshadyldy]

Nsph

Got this from cruising the internet for possible penny stocks.
SKIRACER, would you take a lot at the 2 year chart for a dish formation?



Nanosphere, Inc. (NSPH) - NSPH is a penny stock I would buy today. The stock is sitting at $1.70 and has some real potential. Nanosphere, Inc. (NSPH) develops, manufactures, and markets molecular diagnostics platform, the Verigene System that enables genomic and protein testing on a single platform. This penny stock has been good all year long and all dips have been bought. The thing that would cause me to buy NSPH right now is the recent revenue spike. At the beginning of 2012, quarterly revenue was $828,000. Recently, the company reported $1,300,000 in revenue. This trend is expected to continue but the company loses money so they may need to sell some stock to raise capital. NSPH has good potential.
*********
Also, I was looking at BWMG that was mentioned here on your thread. What on earth would cause a stock to be decimated like that? Do you still think its a worth a gambling shot?
Plus, ONVO is into the 3d printing technology but they are working towards replicating human tissue. It looks likes it's already been pumped and dumped, not to say it can't happen again. But what do you think of it? It's bigger cousins of DDD and SSYS have been doing well.

Thanks much,


Margie

[noshadyldy]

Nsph

The article was posted online in the beginning of JUNE 2012.

[noshadyldy]

Gale/imgn

http://seekingalpha.com/article/809451-galena-showing-similarities-to-immunogen-and-looks-to-follow-its-path?source=TheMotleyFool

Another consideration: GALE

[skiracer]

Got this from cruising the internet for possible penny stocks.
SKIRACER, would you take a lot at the 2 year chart for a dish formation?



Nanosphere, Inc. (NSPH) - NSPH is a penny stock I would buy today. The stock is sitting at $1.70 and has some real potential. Nanosphere, Inc. (NSPH) develops, manufactures, and markets molecular diagnostics platform, the Verigene System that enables genomic and protein testing on a single platform. This penny stock has been good all year long and all dips have been bought. The thing that would cause me to buy NSPH right now is the recent revenue spike. At the beginning of 2012, quarterly revenue was $828,000. Recently, the company reported $1,300,000 in revenue. This trend is expected to continue but the company loses money so they may need to sell some stock to raise capital. NSPH has good potential.
*********
Also, I was looking at BWMG that was mentioned here on your thread. What on earth would cause a stock to be decimated like that? Do you still think its a worth a gambling shot?
Plus, ONVO is into the 3d printing technology but they are working towards replicating human tissue. It looks likes it's already been pumped and dumped, not to say it can't happen again. But what do you think of it? It's bigger cousins of DDD and SSYS have been doing well.

Thanks much,


Margie

going to be out of town for the day but will take a look at it later tonight Margie.

[noshadyldy]

Thanks. Have a great one, Ski!

[skiracer]

Marge,
Thanks for posting on Nanoshpere. Nice stock and I would be a buyer at this level. Here is the weekly chart and my thoughts on it. Do you own it? If not I think placing a few bucks on it would be a good trade at this point in time. Thx.



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[noshadyldy]

Nsph

Thank you Ski. The blurb I posted on it was from an article back in June. Dang, wish I had seen it then but grateful to have seen it now.

Thank so much.

Margie