Skiracer's stock slopes

[spikefader]

Spike,
Post how you see the EW on this latest weekly for me please. I wasn't sure if I was looking at the beginning of a 5th wave up. Is that where you see it?

Here's what I'm seein', as simple and rule-breakin' as it may be. That green 5th was truncated as I see it.

[skiracer]

Here's what I'm seein', as simple and rule-breakin' as it may be. That green 5th was truncated as I see it.

That's what I thought I was looking at. I'll keep it simple and your stretching of any rules to myself. Your secrets are safe with me. I was looking maybe at an entry on the 5th. I'll keep an eye on it today.

[skiracer]

Bought IDNX this morning at $7.92. Going to merge with VISG an a great new identification scanning technology on the market now.

[Runner]

Ski what ya think of some of the Rail stocks?

[Runner]

If ya get a chance check out this IPO ARII. First glance at the chart looks pretty good!!

[skiracer]

Ski what ya think of some of the Rail stocks?

Runner,
I think when oil is dropping the areas that depend on it will do better. As a whole I like the sector right now. Most of the stocks in that sector are all within a point or two of their 52 week highs. There are also several that are in b waves and could be coming into c waves in the fashion that Spike looks for of late. Alot depends on oil and how it tracks. I read somewhere that the railroads are moving more goods and produce that ever before. But the fuel costs kill them. They're not exactly one of the sectors that I like to trade but I did see a couple in BarCharts railroad sector that look worth stalking and could be setting up.

[Runner]

Ski, thanks for your reply. I was under the impression that companies save money using rail as oppose to trucking. Since trains have so many cars the cost might be able to be spread out. Not sure of this as it is just a thought. If my theory is correct then I would think the demand for Rail could increase if the companies using it could save some cash. The Rail group benefits from the business and the companies benefit by saving a little cash.
Now having said all that I have zero facts to base my assumption and to me it seems logical. My FA abilities are very limited at best.

[skiracer]

Ski, thanks for your reply. I was under the impression that companies save money using rail as oppose to trucking. Since trains have so many cars the cost might be able to be spread out. Not sure of this as it is just a thought. If my theory is correct then I would think the demand for Rail could increase if the companies using it could save some cash. The Rail group benefits from the business and the companies benefit by saving a little cash.
Now having said all that I have zero facts to base my assumption and to me it seems logical. My FA abilities are very limited at best.

Runner,
I like to go to Barcharts.com an open their sector page. Very good sector info there. Railroads is about #15. Within that list of stocks in that sector are a three that I like an one that I really like. GSH and CP charts are looking pretty good and UNP is very good an I will be keeping them on my stalk list. Here's two other ones that I like right now. MIND and DXPE. DXPE looks to be coming out of c wave and MIND is coming off of an a wave. DXPE looks real good right now for that c spike up. I like these two setups and MIND for Monday. DXPE is a stalk right now but both are in the Industrial Equipment Wholesale sector which is a strong sector right now and leaders within that sector.

[skiracer]

Not sure what happenned there with this post but never came up.

[DSteckler]

Runner, the Group RS rank for Railroads is very high, at 93. In the past when it's gotten this high (mid-June and early October) the group topped and pulled back.

[Runner]

Ski, MIND and DXPE both look pretty good. I prefer MIND over DXPE. MIND has zero overhead R. DXPE not too far from Resistance.

I’m still picking my list apart. I caught NEWP a few days ago @ 17.15. Set up was a first P/B from base. I scaled out at 18.20 and I’m trailing it now.

Here are a few I looking at:
HMY-P/B to possible gap support
OMG-1st P/B from base
ADM-1st P/B from base
WTI- 1st P/B from base
SBUX- waiting for P/B
LCAV- P/B
TRN-1st P/B from base

[Runner]

Runner, the Group RS rank for Railroads is very high, at 93. In the past when it's gotten this high (mid-June and early October) the group topped and pulled back.

Dave, thank you for the info. Are you saying rail stocks are over as far as upside?

[DSteckler]

Dave, thank you for the info. Are you saying rail stocks are over as far as upside?

All rail stocks? Probably not. But the group as a whole is due for some profit taking. The pullbacks in June and October lasted 1 - 2 weeks and this current pullback is 2 days old.

[skiracer]

All rail stocks? Probably not. But the group as a whole is due for some profit taking. The pullbacks in June and October lasted 1 - 2 weeks and this current pullback is 2 days old.

Dave,
I mentioned that I noticed that a number of the railroad stocks were within a point or two of their 52 wk highs. I kind of liked UNP alot and NSC and GSH were looking good also. If the oil patch continues to drop this coming week there might be more upside to those stocks in the railrroad sector and those 3 in particular. I would agree that there is a pullback and some profit taking in the wind but if oil continues to drop my bet is that you will get more upside for awhile. I would be hesitant to jump completely into the sector right now because of the recent gains but if several factors play into the picture there might be more upside first. There are a few other sectors that are also performing well and I would feel more comfortable looking at them for possible setups. MIND and DXPE are two that are looking good for short swing plays from a strong sector right now. PAAS is another stock, which I own at present, and think will see more upside over the next few weeks.
Here's a question for you. I own the gold ETF GLD from $46.00 range and am up about 10 points with it. What would your strategy be from this point. Do you feel that gold is getting alittle near a top. Do I still hold or take my gains and look for another entry after some major pullback. I don't see it dropping 30/40 points over the next few weeks but am beginning to think it is due for some type of decent pullback and then a continuation higher into the $600 range. Any suggestions or thoughts?

[DSteckler]

<< I own the gold ETF GLD from $46.00 range and am up about 10 points with it. What would your strategy be from this point. Do you feel that gold is getting alittle near a top. Do I still hold or take my gains and look for another entry after some major pullback. >>

Ski, those are tough questions to answer. Gold is subject to both TA and fundamental buffeting - for example, the chart does look toppy but if the dollar is weak on Monday, gold will probably do well. Probably your best bet is to place a stop on a partial position and determine where you'll get back in if the stop gets hit.