Skiracer's stock slopes

[skiracer]

I took a free 90 day subscription to this magazine about 1 1/2 yrs. ago. The name of the magazine is Stocks -Futures - Options.
It's got alot of great stuff in it and they are offering a free 1 yr. online subscription now so I thought I would put it up here.
After my 3 mo. trial ran out I kept up the subscription at $49.95 per yr. Now they are offering it online for a year for free so I took them up on it because sometimes it is easier reading and perusing through it online. Excellent articles on everything we are doing and worth taking a look at. They give the link in the capture.

[skiracer]

You really should take a look at the SFO magazine. Lots of great educational stuff for traders of all disciplines.
Here is todays look at the markets by Briefing.com's Swing Trader.





This guy provides me with alot of leads to research and consider plus since he is of the swing trader mentallity his take on the markets falls right in place with mine usually. His view right now is a small bounce up for the next couple of days or so, as I pointed out in what I posted yesterday about the b wave in the abc correction we are currently in. You never know what might transpire but look at what took place today although on lower volume again. More later.

[Runner]

Skiracer, what is your take on HTRN’s action last week?

[skiracer]

Runner,
I had an interesting week last week with HTRN. As I've posted previous to this I was stopped out at 11.71. Was waiting for it to reverse an pullback before earnings as they usually do for a re-entry point as close to 11.71 as I could but it never happenned for me. I didn't listen to my own preachings an on Tuesday afternoon I felt it was prepping to go an I took a full position at 12.75. It closed at 12.65 that day. Wed. it closed at 12.60. Thursday it reported after the close and was an uneventful day except right at the close it fell to 12.20. The earnings report used the word strong instead of record earnings and the report could have been misconstrued as below guidance but they have been clearing up a merger and the earnings had to be proportioned accordingly. They really did pretty good and increased their line of credit 3 fold and reduced debt big time over this last qtr. Anyway on Friday it opened at 11.95 and dropped to a low of 10.75. I was watching it all day and didn't have a stop in place just because I was planning on being in my office all day and watching the action.
I came real close to getting out an it did drop way below my 7% rule but I had a feeling the report was being taken the wrong way. I had the same thing happen with IPS an it went on to double after their report. I bought another 1000 shares at 11.00 and sold them that aftenoon at 12.25 and 12.30. Still holding the original position.
I like the stock an it is just beginning to come out of the merger and to benefit from what it will bring so I'm sitting on those shares for the time being. I like the stock to go to 16 or so over the short term. The one thing I really like is the show of strength in rebounding from 10.75 to 12.40 on almost triple the average volume. That's got to be indicative of some accumulation by the big money picking up shares cheap at the end of the afternoon. All the indicatiors that I look at are up on the daily and weekly charts.

[skiracer]

Briefing.com's daily sector watch report for today. Interesting stuff in that it gives you the best moving sectors. The ones that are moving are the ones to be looking in for setups. Not saying that you won't find them elsewhere but the chances are better in the ones that are moving.

[Websman]

Skiracer, this is some good stuff you're posting. I hope you plan on hanging around here a while. I'm learning a great deal from you.

Thanks for everything!

[skiracer]

Had a pretty interesting week this week. At one time or another entered positions in all of my selections in the portfolio of the week game. So I had a decent week in general. Only holding one position as of end of trading today. HTRN is doing well and although we always want gains faster and larger sometimes the slower and steady gains are how they come and you can't complain about that. Here is a chart on how I see it shaping up for HTRN. I still feel that this area is a good point for entry as my target expectations over the intermediate term are for the 16/17 range. It has been banging up against 13 several times over the last few days and usually the more times a stock tests it's resistance the better the chances is will break through that resistance. Thought today was going to be that day but looks like the momo guys took their gains out right at the end today to keep it from breaking through 13.

[Runner]

I got my target in place on HTRN @ 13.10. Nice find with this one SKI!!

[skiracer]

At a point where a number of lines of resistance waiting for all indices to break through to confirm any rally or continuation of recent uptrend. Could be a little overbought right now so next week we could expect some consolidation or adjustment to these recent gains.
The jobs report today was a big surprise an a help in the total picture. I'm expecting a continuation of the uptrend after we digest some of these recent gains. Feeling more comfortable looking for long setups but not taking anything for granted from this recent uptrend. Jack be nimble, jack be quick, an you won't burn your ass on that candlestick.
Remember trade what you see and not what you think.

[Runner]

[skiracer]

Runner,
Not clear what you're saying here. Is this a 3rd wave in a set of 5 in an uptrend? Are you expecting a continuation of the uptrend? Please clearify your meaning. Thanks.

[Runner]

Skiracer what do you think of these weekly chart targets on HTRN?

[Runner]

Runner,
Not clear what you're saying here. Is this a 3rd wave in a set of 5 in an uptrend? Are you expecting a continuation of the uptrend? Please clearify your meaning. Thanks.

Ski, if I got this right I think the completion of wave 3 should end around 14.72 from the market structure low that begin the 1st wave up. Total 5-wave completion of the run should occur around 20.21. Remember this info I’m pulling from a weekly chart. As you know nothing is set in stone, also understand I’m in the beginning phase of Elliot wave. But to answer your question yes I believe HTRN is in a 3rd wave up.

I think I posted a daily target on this stock a few weeks ago with a target of 13.01. Seems it was on the money. I’ll wait until that area has been taken with some power and jump back on board.

[skiracer]

Runner,
I would take that analysis and be happy with the trade if it goes that way. I also feel this is the 3rd wave of the recent uptrend. I hope things go the way we feel about the chart and waves. Thanks.

[skiracer]

The chart on the left are the best and worst performing sectors for Friday. All this comes from Briefing.com. As far as current news an everything else they offer for $24.95 for their Platimum subscription I don't see how the serious trader can do without this service. Not to offend anyone who is serious about their trading and doesn't subscribe to their service because I'm sure you can do well without it.