Skiracer's stock slopes

[Websman]

Interesting; the VTP strength is increasing. You're coming into your Data-like phase. I see great things for your future advancement within the circle

Long live the VTP

We have lost Ski as a VTP member...

However, Ski will always be one of my favorite trading buddies.

[Runner]

Ski, since I don’t use volume bars on a chart I’d like to show a price chart as I interrupt it. HMSY busted the swing high near the end of May. Remember I’m just looking at how the price is moving. Once it breached the May’s high I noticed the ceiling has acted as a solid floor with several tests. Awesome consolidation action going on here then towards the end of July it tests the ceiling as the stock consolidates. It finally pops through and the floor once again was solid with one retest. Aug it pops the ceiling and tests the floor only once. It then pops another level a few days later. Currently the last floor has held and notice how the bulls did manage to keep price above the last floor. Now I’m bull HMSY down to about 12.26.

The basics that we all know about often are the most overlooked because we think it is just to easy. I guess sometimes good old support and resistance lines on a chart can be helpful. I also thought of this as an elevator and this guy is currently on the 4th floor and I'm bull down to the 3rd floor..

[skiracer]

Ski, since I don’t use volume bars on a chart I’d like to show a price chart as I interrupt it. HMSY busted the swing high near the end of May. Remember I’m just looking at how the price is moving. Once it breached the May’s high I noticed the ceiling has acted as a solid floor with several tests. Awesome consolidation action going on here then towards the end of July it tests the ceiling as the stock consolidates. It finally pops through and the floor once again was solid with one retest. Aug it pops the ceiling and tests the floor only once. It then pops another level a few days later. Currently the last floor has held and notice how the bulls did manage to keep price above the last floor. Now I’m bull HMSY down to about 12.26.

The basics that we all know about often are the most overlooked because we think it is just to easy. I guess sometimes good old support and resistance lines on a chart can be helpful. I also thought of this as an elevator and this guy is currently on the 4th floor and I'm bull down to the 3rd floor..

That's an interesting chart Runner. Nice way to look at it's trend upward. I don't see it going down that low but who knows. From the $9.74 range there is alot of room for profit taking through todays close at each level you designated. I would like to see it hold the $13.50 level for an entry tomorrow. I thought the way it came back from $13.45 range today showed there was solid interest and support in it at those levels. I like to see higher lows each successive day over a period of time as has been happening with this stock. When you get those continuing higher lows each day the chart ends up looking just like this one with a nice trend upward. Are you looking for an entry point?

[Runner]

Ski, I’ll be gone all day tomorrow and so if it shows some bull power I’ll miss it. Something else to consider is that you have different levels of traders to consider on each floor. For example the people on the 3rd floor might get jumpy should it shake to the downside more, some very well might bail. Sometimes I think the MM’s look at the same charts and try to figure where they might clean up house. Then a new batch of traders are in standby mode pushing the button on the elevator in attempt to ride it higher. Once the elevator gets over crowded they start to exit off hopefully on a higher floor. Some will ride only to the next floor and others are trying to take it to the top. They will sacrifice some floors in hope for a new batch of traders to enter on the pullback.

[Lyehopper]

Ski and Runner.... A couple other stocks in the group (with HMSY) that look interesting are TZIX and PDX.... Both up nicely today too.

[skiracer]

Ski, I’ll be gone all day tomorrow and so if it shows some bull power I’ll miss it. Something else to consider is that you have different levels of traders to consider on each floor. For example the people on the 3rd floor might get jumpy should it shake to the downside more, some very well might bail. Sometimes I think the MM’s look at the same charts and try to figure where they might clean up house. Then a new batch of traders are in standby mode pushing the button on the elevator in attempt to ride it higher. Once the elevator gets over crowded they start to exit off hopefully on a higher floor. Some will ride only to the next floor and others are trying to take it to the top. They will sacrifice some floors in hope for a new batch of traders to enter on the pullback.

I think that is very close to exactly the way it happens and how you have to begin to look at it to see and understand the levels of support and resistance and integrate them into your trading strategys.

[peanuts]

Home Solutions of America

HSOA was upgraded today by MATRIX... maybe they were part of the institutional buying...

[Runner]

Ski, you have prompted me to look a little further into HMSY. I know most don’t look into monthly charts but here is an interesting find. Currently HMSY is bumping into resistance from back in 1998. I no this is a while ago, but never the less it’s on the chart. In fact I’ve come up with a longer-term target on this one around 26.30. That would be about a 97% increase from current level with a little over 10% risk with stop in around 11.97 or so. This would not be a bad trade off in my book…

[IIC]

SKI...did you go with the Briefing.com feature...AVCI?

[skiracer]

Just an update on a few that I still own and am adding to my watchlist:

TRAD: holding from $14.81 Closed today $15.74
NITE: holding form $17.81 Closed today $17.52
SONS: holding from $4.55 Closed today $4.96

Adding to the close watchlist:

ATHR
LIOX
LMIA
FRNT - missed this one initially but looking for pullback to $6.20 /6.50 range for an entry
HSOA - looking for an entry if it breaks above $5.38/5.40 range Tuesday morning.
All the above listed stocks are on the long side.

SWHC: looking to short it tomorrow if it breaks below $12.65/12.50 range. This stock needs some consolidation and should pullback to the $11.50/11.00 range.

These are several that I am watching closely for breakouts:

Breakout Watch: RADN above $12.73; ASPV above $26.30; MERX above $12.35 (doubt MERX will get there today, but one to keep an eye on). Strong stocks that could pull back near-term: RSTO (still bullish on light pullback to $7.50); NSTC (still bullish on light pullback to around $12; TRAD (still bullish on light pullback to $15). Bullpen: LIOX (still strong above $7.50), SMSC (want it to stay above 10-day MA near-term); ATHR (still looking constructive); SCSS (no near-term resistance above Fri. session high), SMTL (want it to stay above 200-day MA), MATR. Bearpen: KNOT -- glad we took some profit on it, as looks like it could roll over near-term. Others we are watching: PSPT, could see more upside today on analyst upgrade; VCBI has resistance at 200, but will be looking for cues at the open, as to whether it'll see another leg higher. And thinking NUHC could see a potential rebound today, but it's not a premarket call...

Louetta,
ASPV looks to be getting ready to make a move up from here.
And we got a little play on HSOA today. I still thing there are alot of shorts still holding their positions after today and we could get a nice short squeeze tomorrow or next day. Today could have been the start of that squeeze.

[Websman]

Excellent job Ski! Looks like your making some $$$... Congrats!

[skiracer]

Excellent job Ski! Looks like your making some $$$... Congrats!

Thank you Webs. There are a couple of nice ones working in there.

[Runner]

Ski, I’m beginning to think my HMSY thoughts are wrong. I do not like how it stalled prior to old highs.

[Louetta]

snip....

Louetta,
ASPV looks to be getting ready to make a move up from here.
And we got a little play on HSOA today. I still thing there are alot of shorts still holding their positions after today and we could get a nice short squeeze tomorrow or next day. Today could have been the start of that squeeze.

Yeh, I still have hopes for HSOA. Late Thursday and Friday were disappointing though. We'll see if it can continue up from here.

[skiracer]

Ski, I’m beginning to think my HMSY thoughts are wrong. I do not like how it stalled prior to old highs.

Runner,
You asked me to email you with my address so that you could send me the excel position sizing file. I emailed you the address. Did you get the mail? I'd be interested in seeing that excel file.
I took HMSY off my watchlist. It seems to have broken down and is now below the ema 20 and right at the 50 ma. If it breaks the 50 ma at $12.31 it could go to $11.50. I really liked it but it just didn't have the strength right now. I'll be keeping one eye on it but it's off the close watchlist for now.