Skiracer's stock slopes

[spikefader]

Thanks for including the MOT setup, ski. Good luck with it.
My humble and completely unrequested thoughts :

[skiracer]

Spike,
Actually one of the reasons I put it up was to get anyone's opinion on the setup which actually will not become a trade until it triggers at 21.26 if it ever gets to that number. Another point is that if after a couple of days of putting it up on his stalk sheet it doesn't materialize he will let it go and tell you that he is letting it go. So he doesn't wait to long for them to reach his trigger because then the circumstances change as you know. Anyway I was looking forward to your's, Runners, NB's an anyone else who wants to discuss how they see it. Always welcome and respect your opinion Spike an it would be hard to disagree with your take on it right now but with a touch or break of the lower channel it could prove to be a worthwhile setut but that might take a day or two to materialize. He might or might not wait it out before letting it go.
Because of the indecisiveness of the markets in general it is kind of hard to count on anything right now so we'll all have to wait it out to see which way the wind is going to blow for the time being.

[spikefader]

....will not become a trade until it triggers at 21.26 if it ever gets to that number...

yep, I should have said good luck if it triggers and you take it.

..was looking forward to your's, Runners, NB's an anyone else who wants to discuss how they see it. Always welcome and respect your opinion Spike.....

backatcha.

..because of the indecisiveness of the markets in general it is kind of hard to count on anything right now ...

You've got that right. Indecisiveness in the market really is a downer ya know and it makes trading so much more choppy and difficult. It sure tests the patience and emotions. Good moves followed by full retraces will drive you nuts.

[dmk112]

I'm a bear on MOT. I actually missed the short on Friday morning, I had it on my short list. Here's what I see:

daily:

intra:

[skiracer]

DMK,
That sell point that you indicated on your chart. Was it the same channel short signal, same point, as the one on Spike's chart? Couldn't tell but looks like it was the same point. It would have been a good time to take it short at that intraday signal. So you think it will continue down from this price level? What would your target be from here an if you did short it tomorrow morning where would you place a stop on the trade.

[RL]

Thats the trouble with all you TA guys

your all asking each other what Is going on? Just set back have a cold one and let your money ride MOT Is a winner.

[skiracer]

Ray,
Well in that case since we got the thumbs up from you Ray count me in tomorrow morning. Do we sound like a bunch of women sitting around in a sewing circle sharing gossip and talking through our asses. By the way TA could stand for tight asses. I'm with you Ray an I hope it does turn out to be a winner although I'll sit and watch it until it gets to that 21.26 level. My wife an I just had a couple of thick steaks on the grille and a couple of Yuengling Lagers with it. Now I'm ready for a glass or two of Port to take the edge off of the day while I sit back and watch the ballgame. Maybe she'll abuse me.

[RL]

Beautiful Ski

your my kinda guy and your choice of lager could not be better. Where abouts do you live? I'm up In the Buffalo area and we started getting It little over a year ago LOVE IT. Don't let your bride take advantage of you.

[skiracer]

Ray,
I'm in Toms River, NJ. That's just about in the middle of the state an about 10 minutes from the ocean. We've had Yuengling Black and Tan and Yuengling Lager for as long as I can remember and now there is a Yuengling Light which I like but not as much as the lager. The black and tan is just a little to thick for me but the lager goes down real nice. That's what I usually keep stocked up in the refrigeratior. I was hoping she would or at least let her think she is.

[dmk112]

DMK,
That sell point that you indicated on your chart. Was it the same channel short signal, same point, as the one on Spike's chart? Couldn't tell but looks like it was the same point. It would have been a good time to take it short at that intraday signal. So you think it will continue down from this price level? What would your target be from here an if you did short it tomorrow morning where would you place a stop on the trade.

I'm not sure if it is the exact point since mine is a intraday chart. I am shorting there with the anticipation of the breakdown of the bear flag. The target using the measured move would be in the 16's but I'm going to target in 18.50 as it has some support there. If I shorted it tomorrow I would place a stop above the high of 21.29. But if you shorted right at the top of the trendline the R/R is much better.

[skiracer]

DMK,
What about your entry. Would you take it right at the open or wait for a different trigger point? Not trying to grill you but just curious about your setup. I'm not sure but I'm thinking this thing could go either way.

[dmk112]

DMK,
What about your entry. Would you take it right at the open or wait for a different trigger point? Not trying to grill you but just curious about your setup. I'm not sure but I'm thinking this thing could go either way.

I usually don't chase, so once I missed it, I either wait for a pullback to the trend line or move on. So to answer your question I would wait for the pullback, but that's just me. Some people would rather wait unitl that channel is broken (lower trend line) to take the trade.

It is true it can go either way but there is a higher probability it does go to the downside. If that resistance line is breached, the bear flag is invalidated, hence your stoploss if you're short.

[skiracer]

We've been looking at the daily chart on MOT an I don't know if anyone has looked at he weekly on it. The weekly gives a different picture as there is no channel short signal but the last candle for last week is a perfect doji. Even more indecisiveness. I wouldn't touch it until it breaks the trendline and hits 21.26 for a long, but if I were to give an opinion I like it to the upside. So much will depend on the market tomorrow morning. I really don't see a clear signal stating this thing is going down but it could and probably will if the markets head further down. Anyway nice imput on it today.

[dmk112]

You're right it does have to do alot with the market, especially with the Semi's. We'll see, but right now it has a bearish bias.

[RL]

For what It's worth

I hit It with the dart at 20.14 watching closely?