Skiracer's stock slopes

[Runner]

SKI, was not today a channel long on PETS?

[Runner]

Oh I just wanted to thank ya ski for posting large charts. I now find it much easier to do this when I’m surfing through my hundreds of charts per night. Well maybe not hundreds..lol

[skiracer]

Runner,
I bought the stock today right near the low of the day. My entry was at 9.55. I also placed a limit order for the Dec. 12.50 calls at $.40. The options today were bid at .40 and asked .65 when it hit the low of the day at 9.50. The asked price went from .60 to .85 as the stock moved up and that specific call didn't make a trade all day. 0 volume on the 12.50 call today. I was watching it all day and couldn't believe it went that low. The peculiar thing was that the option really didn't follow the stock down as much as the stock dropped proportionally. The option closed today at bid .40 and ask .85. I'm sitting comfortably at 9.55. I'd be happy to see it go back to 10.71 where it was when Lyehopper first mentioned it but I really think it will go much higher. I still like the Dec. 12.50 call and think that it's a better play than the stock with almost 120 days until expiration if you can get it at the right price. I would buy the option tomorrow at .50 if I could get it at that but I think the specialist knows or feels that the stock is a pretty good bet to go up from here. Definitely hit the channel long today which is a good thing for the long entry. Much lower than what either Spike or I thought but I'll take it.

[skiracer]

Food for thought:





This is an example of a perfectly planned strategy, setup, entry, and exit, plus the gain wasn't bad either. These guys do this every week.

[skiracer]

MAIN been on a tear!!

[Runner]

Hey Ski thanks for the info on MAIN. The chart really looks good for a low price stock.

Back into stalk mode on MAIN!

[skiracer]

Runner,
It's been on my list since I first mentioned it an owned it but I see it everyday and watched it go up but never once did I think to re-enter. Next thing you know it's over 6 and you brought it back to my attention. I haven't looked at it's chart in awhile but it is beginning to look good. Today's low just touched 5.50 which was where it was at 5 days ago just before it went over 6. There was a little gap up right there. I was just looking at the 15 min. chart. If it fills that gap or lower I think it might be a worthwhile play. Boy the daily and the weekly also look pretty good. I put the RAFF channels on the daily an it looks like it hits the lower channel right at 5.50. Check it out. It needed to consolidate some of these recent gains. If it hits that lower channel at 5.50 would that be a channel long play at that point?

[Runner]

Ski, I saw the same thing on the 15 min chart. I've got this one on my priority list now. The weekly looks like it put in a market structure high and in fact today confirmed my thinking. I did not trade this one but had it saved in one of my files. I happened to stumble across it the other day and thought about Ski. I remember we had a little dialogue about good old MAIN. I think it was a good while back.

Ski,
Looking at the 60 min chart it appears buyers did not step in on the C wave. So my thinking is that it may need to correct some more. I like MAIN better under 5.00, but at this point and in the wild market who knows. Not sure about the 5.50 channel long. Current chart does not meet my buying criteria.

[skiracer]

Do you think it could go under 5? That would be a steal in my opinion.

[Runner]

Do you think it could go under 5? That would be a steal in my opinion.

Yes, I think it is possible, but who knows? Here is my take on it. Simple chart

[Runner]

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

Ski, this is why sometimes looking back in time can help out. Watch out if MAIN clears the BLUE LINE!!!

[skiracer]

Real nice charts Runner. What price is the blue line set at. Would you call that around 7 area?

[skiracer]

Who are you?

[Karel]

Who are you?

Sorry skiracer, but as that person was banned (by $$$Mr.Market$$$), we will probably never know the answer to that question.

Regards,

Karel

[Lyehopper]

$$$Mr. Market$$$ don't play Dat!

Sorry skiracer, but as that person was banned (by $$$Mr.Market$$$), we will probably never know the answer to that question.

Regards,

Karel

Hey Ernie, Want me to take a couple of the "boys" over there and break a few limbs?

~Lye