Skiracer's stock slopes

[skiracer]

There might be a few shorting opportunities in the oil patch this coming week if Rita doesn't live up to expectations.

[Runner]

LENS could get interesting if it gets out of the trading range.

[skiracer]

Something is going on there. That's not alot of money or shares but these trading groups don't throw their money around or away unless there is a good reason to do so. It's so easy to pick up 10,000 shares of something like this and if it goes up .25 to 1.00 or so it makes a nice payday. Purely speculative though.

[Runner]

Ski, this pink line shows money flowing into LENS... Wonder if this thing is about to pop big time???

[skiracer]

Runner,
Are you running TC2000 or TNet? The pink line is a money flow line like the Chalkin Money Flow or something else. I almost bought it today but have this thing with buying on Fridays just before the weekend. I'll be looking at this one on Monday. The pink line is definitely tracking up bigtime.

[thebign1]

Concord Camera

Hey Guys, Becareful with LENS......Stenzrob posted this one a year & a half ago. Check out Stenzrob's thread for details.
Regards, Norm

[skiracer]

theBign1,

I'm looking at the weekly chart and thinking that this one is ready to start making a move up the right side of it's cup. The driving force here is that there is alot of insider money and money in general flowing into the stock at this time. Purely speculative situation but the kind of speculative position that can become a big gainer moreso than a big loser from this point. Usually something going on when the insider money starts flowing into the stock after it has bottomed out like LENS. Thanks for the info an I always try to be as careful as possible under the circumstances I'm working with.

[skiracer]

[Runner]

Runner,
Are you running TC2000 or TNet? The pink line is a money flow line like the Chalkin Money Flow or something else. I almost bought it today but have this thing with buying on Fridays just before the weekend. I'll be looking at this one on Monday. The pink line is definitely tracking up bigtime.

Ski, I still got stockcharts, but have been playing with tc-2005. I like the layout a lot better then stockcharts. I’m thinking about changing to tc net. My back fill from Medved has been messing up lately. Not sure what the heck is going on, but it has been a pain in the butt.

I agree with your report about energy being a possible short play. I’m seeing a whole bunch of oil stocks that have popped up in my short scan this weekend.

[skiracer]

I've been using Stockcharts for quite awhile now but I used TC2000 for quite some time before that. I always liked them and they are cheaper but Stockcharts does give some things that TC2000 doesn't like the point and figure charts. Everytime I see one of your charts it reminds me of them. They are a good charting service plus their watchlists are real good.
I think we could see oil dropping alittle from here. I would think that any oil related stock could provide a good short term shorting opportunity if it does go that way. Have to keep a close eye of which way the wind blows tomorrow morning.

[skiracer]

I don't think today was anything more than a dead cat bounce. The markets have been in a funk of late and there really hasn't been anything that has happenned to make for a true rally at this time. That 62% fib retracement at 123.10 and the 50 dma on the SPY will act as a strong resistance line tomorrow an it will take some doing to bust through that and hold it. I've always found that after short periods of trending down that the markets will respond with a bounce. I like to watch for these things an have noticed that Thursdays always seem to be a good day for dead cat bounces. Mostly because it gives the retail traders some optimism and draws their money into the trap for Friday morning when everyone will be feeling great after Thursdays gain. Friday morning will start off strong and then the bottom falls out as the hedgies and momo guys suck off their gains selling into the mornings strength. Of late it's been one step forward and then two steps backward.
Regarding BHMC, TOL, KBH or any of the other homebuilders, just took them as an example because they had a pretty good day today, but would any of you buy them tomorrow for a short term trade at todays closing prices?
The paragraph at the top isn't mine and came from Briefing.com's Swingtrader column tonight. Here are 3 picks, strictly for daytrades, tomorrow. You really have to be glued to the screen to play these tomorrow otherwise you could easily get caught in the switch.

[skiracer]

Bought another 2000 shares of SNAK today between $4.90 and 5.00. I'm now averaged down around $5.05. To be honest I'm amazed that it has pulled back to this level from it's recent highs above 6.

[New-born baby]

$4.91 fib

Bought another 2000 shares of SNAK today between $4.90 and 5.00. I'm now averaged down around $5.05. To be honest I'm amazed that it has pulled back to this level from it's recent highs above 6.

Ski,
I noted yesterday that she bounced off the $4.91 fib ($4.86 lod). You may have pulled off a coup here.

[skiracer]

NBB,
I could use one. Lately I haven't been able to hit the floor if I fell out of bed. I do like the stock and the the price falling to this level is surprising to me. I can't see anything wrong with the stock and except for profit taking on the recent run up I would expect it to climb back to above $6. After yesterdays buy I now have a rather large position in it. Funny but $4.83 was my 7% loss exit price an as I sat watching it fall yesterday morning I was real close to pulling the trigger on bailing and then it turned and started back up. In my exhuberance I added to my position.

[Runner]

Very good job SKI. I think your positioned very well with SNAK. I like the ABC corrective wave. Almost a text book set up. I hope your rewarded nicely for your efforts!!