Skiracer's stock slopes

[skiracer]

As I posted earlier on my thread I trimmed off some more SDTH +3.30...Have a 1/4 stake left.

I'm not doubting your technical take on it but why do you say it is not in a strong sector?

DJ Specialty Chemicals is in the top 6 for 1 week , 1 mo, 2mos, 3 mos, 6 mos. and YTD

I usually go by the sectors as Barcharts.com has them listed. They have them listed under Industrial Chemicals which has been on the + side but a low +. But it doesn't look like that 5th wave, if I'm even right in that call as my own intrepretation of the wave count, is or was ready to top out and begin the abc correction. I didn't make the play and am still just watching it for it to top out and begin the corrective waves. Merry Christmas Doug and a safe and Happy New Years to you and your family. Going skiing at Hunter Mtn. in NY Thurs. and Friday this week. Probably won't be thinking of stocks over those two days.
BTW beautiful trade on SDTH over the last few days. Nice to see you stretching out timewise and maximizing more of the opportunity. Nice play.

[Daveduvos]

Countrywide

I did n't want to start a new thread, but I was wondering if you think countrywide is a good buy at these prices, I think this one will rocket when housing gets going again... Just finding a bottom . and how long we want to tie up our money for a triple or more, any thoughts?

[IIC]

I usually go by the sectors as Barcharts.com has them listed. They have them listed under Industrial Chemicals which has been on the + side but a low +. But it doesn't look like that 5th wave, if I'm even right in that call as my own intrepretation of the wave count, is or was ready to top out and begin the abc correction. I didn't make the play and am still just watching it for it to top out and begin the corrective waves. Merry Christmas Doug and a safe and Happy New Years to you and your family. Going skiing at Hunter Mtn. in NY Thurs. and Friday this week. Probably won't be thinking of stocks over those two days.
BTW beautiful trade on SDTH over the last few days. Nice to see you stretching out timewise and maximizing more of the opportunity. Nice play.

Have a great time...No snow around here...Forget about the market for a few days.

Actually, this was an interesting year...Went back to my CS roots somewhat in April...I'll never be a strict CS'er again of course...But it helped me to go back and consider some of it and unless I make some MAJOR blunder the last few days of the year I will say that this is the best year I've had since '99...Even better than '03.

Thx for your technical takes...I do listen and I do seriously consider what you have to say although I may not say so many times.

Have a Merry Xmas...Best, Doug(IIC)

[skiracer]

Here are my two latest charts at Stockchart Public lists. Both are short selections. APOL is working out as expected. SDTH looks to be still in the 5th wave up and has not yet topped. Waiting for it to finish the 5th wave for the short entry.

I like the short play on SDTH even moreso now. Another gap up on a short day Monday is putting it close to the top of what I see as the 5th wave. That should provide an even better shortside entry. Those that made the long play earlier on should protect those gains because there will be profit taking. Just a matter of when the abc corrective action begins. Great play on the long side recently and those that had it made a great play but this one is not going to go up forever.

APOL did as expected and provided a nice trade to the short side. I took a half position at $72.75 and placed a stop at $73.50 so it is still open with a limited risk and chance to take more gains. You can only recognize the pattern and execute the plan as you see it. Making the edge in your favor and limiting risk and losses is what counts.

[skiracer]

I did n't want to start a new thread, but I was wondering if you think countrywide is a good buy at these prices, I think this one will rocket when housing gets going again... Just finding a bottom . and how long we want to tie up our money for a triple or more, any thoughts?

The rich buy low and sell high. This one will be part of the housing sector recovery if not for anything else other than it is so cheap right now. Without posting a chart, which I will do later, I want to see it bottom and turn up making the right side of it's cup base. On the weekly it is still going down and the daily shows a small double bottom cup base forming. I would be patient and wait just a bit more to see which way the wind is going to blow on this subprime mess. Good call though but be patient.

[skiracer]

The rich buy low and sell high. This one will be part of the housing sector recovery if not for anything else other than it is so cheap right now. Without posting a chart, which I will do later, I want to see it bottom and turn up making the right side of it's cup base. On the weekly it is still going down and the daily shows a small double bottom cup base forming. I would be patient and wait just a bit more to see which way the wind is going to blow on this subprime mess. Good call though but be patient.

[billyjoe]

Ski,
Another good financial I got just about at the bottom is WTNY from the New Orleans and Gulf Coast area. Div. is 4.4% . They are buying back about 6% or 4 million shares in the next 12 months. I'm up around 1% and there's talk of a buyout soon. They also increased the div. as of November.

------------billyjoe

[skiracer]

here is a nice cup base and handle pattern. getting ready to either break the handle pattern by dropping to low or make the move up out of the handle. This is on close alert on my watchlist for an entry. I feel the pattern is close to going off right here. could use some help from the markets. You can see this one and others at my public charts by clicking on the link below.

[IIC]

OMTR...I like it too...It was on our Patterns of Interest List last Sunday...I know you came up w/ it first but it also came up in my Sunday Morning scan...And you know I thot of you when it came up...I also have it on watch...Don't know how you find these in the first place...But NICE EYE.

BTW...You know that I have my own personal CwH criteria...The reason it did not appear on our CwH list is because the left and right side cup highs percentage diff were a little over my criteria...But, the PoI (Come close) lists are just as productive...To me personally anyway...thx...Doug(IIC)

EDIT:...Also, I think if 31.90 holds it may be a winner...that is just below Par Sar(default) and 20ema support...which I watch closely

[skiracer]

OMTR...I like it too...It was on our Patterns of Interest List last Sunday...I know you came up w/ it first but it also came up in my Sunday Morning scan...And you know I thot of you when it came up...I also have it on watch...Don't know how you find these in the first place...But NICE EYE.

BTW...You know that I have my own personal CwH criteria...The reason it did not appear on our CwH list is because the left and right side cup highs percentage diff were a little over my criteria...But, the PoI (Come close) lists are just as productive...To me personally anyway...thx...Doug(IIC)

EDIT:...Also, I think if 31.90 holds it may be a winner...that is just below Par Sar(default) and 20ema support...which I watch closely

I have specific scans that I run that look for stocks that have bottomed and that are beginning to turn up. I keep them on several watchlists for stocks that are at specific points in the development of their right sides. This one came to me from Matt over at Spike's site and I thought it was a worthwhile pattern developing. Have been watching it ever since. Several attempts at entries in the course of it forming it's right side have failed and I still have not made an entry but like the way the setup has now developed and am watching and ready for my entry if it comes out of that handle with the vengence I expect it to. Actually really like the fact of how much it has dropped into it's handle providing a much nicer price for entry.
Have used it in both the POTW and Spike's contest and no cigar at either attempt.

[New-born baby]

Usb

Ski,
I like USB. Not exposed to the subprime slime, pays a 5.5% divy, has a bullish chart, and I think is at a good place to bottom fish. What thinkest thou? You are pretty good at reading the charts.

[Clarkstondude]

take a peek at countrywide, its a giveaway right now. Might drop some long into it next week.

Ski,
I like USB. Not exposed to the subprime slime, pays a 5.5% divy, has a bullish chart, and I think is at a good place to bottom fish. What thinkest thou? You are pretty good at reading the charts.

[IIC]

take a peek at countrywide, its a giveaway right now. Might drop some long into it next week.

It may take off...When BofA buys them

[Clarkstondude]

Ooooo link me!

It may take off...When BofA buys them

[skiracer]

love the stock talk guys. Wiil respond with some charts and dialogue tomorrow when I am more sobre and in control of my facilities. Dinner and a few bottles of shiraz and cabernet tonite with old friends tonite. No way could I be logical at the moment.