Skiracer's stock slopes

[skiracer]

Just look back at your buy-in prices

well I did good with both trades but the market fooled me today into exiting when I was for sure it was continuing down. I could have stayed in longer and waited but then would have exited at a much lower price before it turned back up. not second guessing my decision making process but it fooled me for sure. you can never tell what will happen in the market a few hours after you make a move. especially on a day like today when you are holding decent gains and want to protect them. i gave back $450 bucks this morning and that was all i was going to give back. at least it closed right at my exit point rather than closing back above it.

[bootsmagee]

here is the blog address for a guy, deron wagner, and website, Morpheus Trading Group, that I have been touting for years here. actually one of the biggest influences in my initial changeover to swing trading and developing a plan and a strategy and trading principles. one of the sharpest guys I have met and really on the ball. I paid good money for a couple of subscriptions to a couple of his trading letters for years and now you can get all of his trading knowledge for free with his blog which is just starting up a few days ago. if this isnt worthwhile then I dont know what is. here is the address:
http://morpheustrading.wordpress.com. he starts is off with a great explanation of Fibonnaci numbers and how they work and how to use them in your technical analysis.

One of their blog picks, AKRX, is looking good if you follow their strategy. I bought some today at 11.40, what do you think?

[skiracer]

light volume does not intrigue me. but there is the slightest sign of an ascending triangle chart pattern forming which is getting close to the apex of the triangle. draw a horizontal line across the top points of the weekly and then another along the bottom points of the chart going back a couple of months each way. ascending triangles usually signal a move up when they reach the apex of the triangle, narrow point where the top and bottom lines converge, and the percentages are in the favor of a move up. this isnt a strong definite triangle but it is there and the stock has been consolidating in this pattern for a couple of months. depending on what the market does I think you can expect a move up moreso than one to the downside.

[/B]

One of their blog picks, AKRX, is looking good if you follow their strategy. I bought some today at 11.40, what do you think?

[wooish]

ROST looks like it has support at $50, a break of $50 would bring it down fast but today it looks like it gonna close green. I have no position at this point but tempting to buy some March $50 calls to play a short term swing.

[skiracer]

ROST looks like it has support at $50, a break of $50 would bring it down fast but today it looks like it gonna close green. I have no position at this point but tempting to buy some March $50 calls to play a short term swing.

good idea wooish. looks like the tide is turning now.

[skiracer]

big struggle for the market today. selloff at the end into strength. Low volume day so this up day didnt really impress me that much. Still holding the short position on ROST but gave some back today. My feelings haven't changed on my view of the indexes. up day on low volume suggests lite support for it moving farther up. If volume had flowed in heavily and supported the move up all day with continous buying all day thru the close it would have meant more for the bulls but not what took place today in my mind.

[Lucavia123]

Anyone still watching TASR? It has taken a heavy beating. I would expect it to find the bottom soon.

TASR may have found that bottom. Had a few good days now. If it ends the week up it may start a new trend.

[skiracer]

Rollercoaster ride today! Still feeling that a correction is necessary and will happen before the indexes move up higher than recent highs if and when they do. They just may not. Still holding the ROST short. Only open equity short term position at the present time.

[skiracer]

Indexes are right at resistance lines. i'm still expecting a correction of bigger proportions than we saw on that last pullback last at beginning of last week. And am still holding on to my short of ROST. Greek debt looks to be part of a catalyst that will help in a reversal of last weeks spike up at the end of the week.

[peanuts]

Indexes are right at resistance lines. i'm still expecting a correction of bigger proportions than we saw on that last pullback last at beginning of last week. And am still holding on to my short of ROST. Greek debt looks to be part of a catalyst that will help in a reversal of last weeks spike up at the end of the week.

Yes, that Greek debt thing could be a game changer... I'm just waiting for the day when we wake up and see headlines saying, "De Greek's Defaults!"

[billyjoe]

Ski,
When you subscribed to Morpeus did you buy both ETF's and stocks? Does their claim of 50-60% annualized return since 2002 seem to be correct? I'm following the blog and have bought 1 stock so far. It seems straight forward and not too complicated. Keeping it simple is important to me. By not buying blindly, cross checking different sources, and doing my homework, I hope to increase my rate of success. I don't expect all the trades to be successful and will keep any losses at a minimum.
Thanks again for mentioning Deron's blog.

------------billy

[skiracer]

Yes, that Greek debt thing could be a game changer... I'm just waiting for the day when we wake up and see headlines saying, "De Greek's Defaults!"

This Greek debt thing has been going on and on and on for months now. One day they have it resolved and the next day no cigar. What they are not telling us is the reason behind the Greek debt and why it effects our indexes to such a degree. It has alot to do with the large American banking interests lending them money on their future tax and other future revenues. Another banking miscalculation on the part of our banks and now its become a real mess. But our govt. doesnt tell us, the tax payers, who will eventually pay for all of it the truth of what is going on. Just like now there will be a back door tax on any buying a new or existing home that finances it thru a mortgage and Fannie May or Freddie Mack backed mortgages. Gonna end up costing future homeowners thousands of dollars more over the course of any 30 year fixed mortgage.

[skiracer]

Ski,
When you subscribed to Morpeus did you buy both ETF's and stocks? Does their claim of 50-60% annualized return since 2002 seem to be correct? I'm following the blog and have bought 1 stock so far. It seems straight forward and not too complicated. Keeping it simple is important to me. By not buying blindly, cross checking different sources, and doing my homework, I hope to increase my rate of success. I don't expect all the trades to be successful and will keep any losses at a minimum.
Thanks again for mentioning Deron's blog.

------------billy

Morpheus is where I initially got exposed to and educated on ETF"s Billyjoe. They do keep it simple and are obsesses with following their plan and strategy and honoring their stops. They lose their share of trades but keep their losses to a minimum of 7 % or less. You will never go wrong following them or their picks. You can believe anything they state verbatim and they can usually prove their numbers and claims.

[billyjoe]

Ski,
Morpheus' tight stops ensuring minimum losses are the key. I'm telling my son that a consistent plan with a high percentage of winning trades and few losing trades with a low loss percentage adds up to a great return in the long run. Somebody here or maybe on Spike's site a long time ago calculated the difference of a maximum 8% loss vs. 10% loss over a period of years and the result was almost shocking when compounded.

------------billy

[skiracer]

Ski,
Morpheus' tight stops ensuring minimum losses are the key. I'm telling my son that a consistent plan with a high percentage of winning trades and few losing trades with a low loss percentage adds up to a great return in the long run. Somebody here or maybe on Spike's site a long time ago calculated the difference of a maximum 8% loss vs. 10% loss over a period of years and the result was almost shocking when compounded.

------------billy

I am so happy to see that you are instilling this kind of mentallity in him Billyjoe. Limiting you losses and good sound risk vs reward math will make his last alot longer and really enchance his chances of becoming a successful trader. good for you and him.