Skiracer's stock slopes

[Runner]

Ski here is my take on MED. First off it put in a big picture top from Jun-Aug. Crash city from there. It gaps down and messed around and wedged up in late Aug. It then gapped down again. Seems to have found support around the 8.00 area. Now for me the recent character of this chart is bearish. I think it needs more work before I’d consider it a long.

The weekly from back in 03 did the same thing except it messed around and crashes big time. I’m not sure the reward is worth the risk at this juncture. But hey just my take on it and I’ve been wrong many times… If you were short this stock from the big picture top would you be worried of current price action? Where do you think shorts are going to scramble at? I often look at the quality of the charts. The best tight run out happened after last gap down.

[skiracer]

Ski here is my take on MED. First off it put in a big picture top from Jun-Aug. Crash city from there. It gaps down and messed around and wedged up in late Aug. It then gapped down again. Seems to have found support around the 8.00 area. Now for me the recent character of this chart is bearish. I think it needs more work before I’d consider it a long.

The weekly from back in 03 did the same thing except it messed around and crashes big time. I’m not sure the reward is worth the risk at this juncture. But hey just my take on it and I’ve been wrong many times… If you were short this stock from the big picture top would you be worried of current price action? Where do you think shorts are going to scramble at? I often look at the quality of the charts. The best tight run out happened after last gap down.

Runner,
You can stop apoligizing for disagreeing with me on any of these or anything. I respect your expertise and take on whatever you post. You always accompany your feelings with extensive backup. What more can you ask from a body. Your take could just as well be correct as mine is. I just love the give and take and the dialogue. It's what this is all about right or wrong. It takes that to point out something anyone might have missed.
With MED and it's turning up off the bottom is one of my favorite setups for catching them early as they make that move. It's either going to continue to move up that right side or fail and do just the opposite. I like these spots for catching them early. It did make a nice move up on Thursday and gave some back on Friday but still held above the 9 level which I thought was a show of strength. These plays are only what I'm looking at an what I'm doing. They are suggestions to look at a possibility that might emerge as a move up. Your take is the other side of the coin and merits as much considertation as mine.
One of the reasons I've always stressed the use of stops is for plays like these. Big upside potential and 7% or less downside. That is the best part of the whole deal. The loss is limited to what you make it and how you control it if you do control it which is another side of the coin.
I'm looking for the stock to go to 10.50 to 11 range and my 7% stop is .63. That's approximately 3.17 to 1 r/r if it goes to 11. There are a few other specifics that I like about the stock regarding fundamentals, earning, sales, product line, and timeliness etc... that go into my feelings. One thing that you will never get from me is that if it does go my way would I throw it back in your face and say, "I told you so". If I'm wrong and it goes the other way, which we all know it does often enough, then I was wrong on this one and I forget about it and move on to the next one. But thanks and I always appreciate your comments and charts on the play. I always root for your plays as I want to see you make money as much as I want to see myself make it.

[peanuts]

Peanuts,
You'll have to explain your reasoning behind your statement on MED, ACOR, and NITE and throw in AEIS while your at it. Maybe throw up a chart with your annotations on it to show what it is that makes you feel that way about them.

MED: (fighting the trend by going long)

ACOR: (crazy action, no real direction)
No chart analysis as it has no real relevance due to the wild price change from $2.5 to $17 in less than a month! Because of this wild swing in price, I want no part in it. This is too risky, IMO

NITE: (profit takers will enter the picture, be careful)

AEIS: (good short to $15 when handle should be done, LT great looking stock)

[spikefader]

Thanks Spike. I took ACOR short @ 15.36 for a daytrade scalp and covered @ 14.35 all within less than an hour.

I looked at the ACOR chart yesterday and that really was a good short dude. Congrats. I actually wondered whether you did a fuzzy count on a 3min chart to help the entry....cuz there's a fuzzy C failure in there, just above where you entered....and a fuzzy 5 completion coming down, with you exiting late in the 5th, capturing most of the move. Brilliant stuff! Anyone falling asleep in this thread needs their foreheads flicked.

Is there nothing here of interest? None .. interesting enough to post anything about? Not a word.
Has anyone given any thought to the fact that Dave Steckler , Jim Smith, and the rest of that group of traders that Ernie brought in have disappeared...Anyone else feeling a lack of interesting content. How about Spike who was a fixture here ... very seldom posts here anymore. Is this a trend. I would welcome any kind of interaction to this list even if it was negative and you thought it stunk but not one word... These last two weeks have provided an average gain of 36 % over that time period.....kicking a dead horse.

First Ski, thanks for the effort you put in to sharing your ideas. I'm often lurking to read and don't always have the time to post but just take it as a given that I really respect your take on the market and trading and I honestly think anyone following your moves would not only be smiling from the results in their account, but they would also be learning plenty about how to "fish" for themselves.

I have indeed noticed less posts from the likes of Stinky Steckler and Jim Smith. I think that's a great thing, cuz they are both abrasive, rude, destructive and overly critical of new/different ideas about trading and TA and anything else. If it's true that they've decided to move on, then I welcome their depature with a party hat on lol I went toe to toe with Stinky several times about "stuff" after his rude crap and every time I would take the conversation to a place where Stinky would of course stop replying with no effort to perhaps say "fair nuff" or "sorry for whatever" or anything to attempt to meet in the middle ground where "it's all good".

But anyway, congrats on the 36% number there, ski! I'm gonna do some charting for those stocks you've mentioned later tonight and throw them in the thread here to contribute for whatever it's worth. Have a good one.

[skiracer]

I looked at the ACOR chart yesterday and that really was a good short dude. Congrats. I actually wondered whether you did a fuzzy count on a 3min chart to help the entry....cuz there's a fuzzy C failure in there, just above where you entered....and a fuzzy 5 completion coming down, with you exiting late in the 5th, capturing most of the move. Brilliant stuff! Anyone falling asleep in this thread needs their foreheads flicked.

First Ski, thanks for the effort you put in to sharing your ideas. I'm often lurking to read and don't always have the time to post but just take it as a given that I really respect your take on the market and trading and I honestly think anyone following your moves would not only be smiling from the results in their account, but they would also be learning plenty about how to "fish" for themselves.

I have indeed noticed less posts from the likes of Stinky Steckler and Jim Smith. I think that's a great thing, cuz they are both abrasive, rude, destructive and overly critical of new/different ideas about trading and TA and anything else. If it's true that they've decided to move on, then I welcome their depature with a party hat on lol I went toe to toe with Stinky several times about "stuff" after his rude crap and every time I would take the conversation to a place where Stinky would of course stop replying with no effort to perhaps say "fair nuff" or "sorry for whatever" or anything to attempt to meet in the middle ground where "it's all good".

But anyway, congrats on the 36% number there, ski! I'm gonna do some charting for those stocks you've mentioned later tonight and throw them in the thread here to contribute for whatever it's worth. Have a good one.

Always welcome and respect your take on anything I put up here Spike. Actually I feel that way about everyone here as long as they at least go through the motions of backing their opinion up with something substantial. I was lucky on the ACOR play on Friday. I was looking at the 15 min. chart and in all honesty wasn't looking at the intraday wave counts but felt that it was stalling out at that level and thought that it was a great shot at the short. I felt that it was a good call at the moment and that I was lucky to have been watching it only because it was up so much at the time and I thought it was suseptible to a fall from that point. Thanks Spike.

[IIC]

I'd like to see the Dodgers get in the series...But I don't think they will...Doug

Crystal ball was right again...But I'm glad the Yankee's didn't make it either...Not because of Ski...But because of my wife, sister-in-law, her husband and my niece(they live in Brooklyn)...So now Ski is left with the Mets...I'm left w/ San Diego and Oakland...I doubt that either one of us cares about those 3 teams...Anyway, my wife and I had an oil change date early this morning at Jiffy Lube and decided we will both root for the Mets now....Doug(IIC)

[skiracer]

Crystal ball was right again...But I'm glad the Yankee's didn't make it either...Not because of Ski...But because of my wife, sister-in-law, her husband and my niece(they live in Brooklyn)...So now Ski is left with the Mets...I'm left w/ San Diego and Oakland...I doubt that either one of us cares about those 3 teams...Anyway, my wife and I had an oil change date early this morning at Jiffy Lube and decided we will both root for the Mets now....Doug(IIC)

Doug,
I'm not a Mets fan but they are playing great against some serious adversity in losing Pedro Martinez. I'm despondent over the Yankees losing like they did but with the payroll and the players they have they should all be embarrassed. I would like to see them buy some commercial time out of their own pocket and as a complete team stand up in front of the nation and their fans and take responsibility for their performance. I'm a baseball fan foremost and will still remain interested in the playoffs and the world series even without the Yankees. Probably will be rooting for Oakland. Sorry but can't bring myself to root for the Mets. I'm an American league guy.

[skiracer]

Peanuts,
Thanks for the charts and your take. Regarding MED. I'll be watching this stock for an entry Monday morning but not until after 10 am to see which way the wind is blowing with it.



I agree with you completely on NITE to be wary as it has been in a great uptrend of late. I wouldn't be doing anything until I see some consolidation of recent gains and a pullback to at least 18/18.25 levels.

ACOR I got lucky with the other day but I was watching and expecting something in the way of a drop and it showed it's face an I was on top of it. Lucky but expecting it and it worked. I'm leaning towards the short side with this right now but wouldn't do anything until is shows me the move. I do agree that it is very volitaile and could be dangerous right now. That's why stops are so important.

I agree with you that AEIS is right where it should be starting it's handle. I don't short handles just because they are considered an area where the stock should drop some on diminishing volume and that small drop doesn't excite me enough to try to make money on it. I would rather wait it out for the breakout from the handle which I will be doing with this stock. Handles are funny and hard to figure and count on. Sometimes they act like they should and other times they do something completely out of line with what you are expecting. Thanks for your thoughts.

[spikefader]

OK, some further comment on your picks, ski:

ACOR, I think it's due a 4 impulse down, so short bias under the C in the chart I posted before.

AEIS: Bullish on it, but need a channel long to buy into.



I've run out of time; got a birthday dinner to attend. ATHR and NITE: Bullish. MED not liking the gap downs on volume. I'm with peanuts on this one. LIOX, I'd have to spend more time on it.

Good luck this week, ski.

[skiracer]

OK, some further comment on your picks, ski:

ACOR, I think it's due a 4 impulse down, so short bias under the C in the chart I posted before.

AEIS: Bullish on it, but need a channel long to buy into.



I've run out of time; got a birthday dinner to attend. ATHR and NITE: Bullish. MED not liking the gap downs on volume. I'm with peanuts on this one. LIOX, I'd have to spend more time on it.

Good luck this week, ski.

Have a good night at the birthday party Spike. Thanks for the imput. Except for MED, which I'm out of at the moment from 9.70 on Friday, I'm feeling the same way on them. Just lurking on all of them at the moment but would love to see MED drop some before taking another entry but would make the play right here at 9.44 if that's going to be the best entry I can get on Monday.

[skiracer]

Here is this weeks watchlist. Brought almost all of last weeks list over to this week plus several new ones that I added from several sources. Some my own scans and some from subscription services.
No open positions carried over from last week but will be opening a few positions on Monday once I see which way the wind is blowing.

[JohnHenry]

Here is this weeks watchlist. Brought almost all of last weeks list over to this week plus several new ones that I added from several sources. Some my own scans and some from subscription services.
No open positions carried over from last week but will be opening a few positions on Monday once I see which way the wind is blowing.

Hi Ski

Wow you have 19 stocks at play…I read and hear people saying it’s best to have a diversify portfolio. For someone new, would two or more stocks in a portfolio be good or five or more? Thanks

[skiracer]

Hi Ski

Wow you have 19 stocks at play…I read and hear people saying it’s best to have a diversify portfolio. For someone new, would two or more stocks in a portfolio be good or five or more? Thanks

Stky,
Read a little closer. This list is only my watchlist for this week. I don't own any of them yet. I will be looking to make a few plays on Monday. I'll post them before I make the play. I'm looking closely at MED and LIOX for today.

[skiracer]

Watching ACOR right here for a possible short play. Seems to be stalling out similar to last Friday. No other plays yet today. Watching MED but it doesn't seem to know what it wants to do today. So I'll wait it out until I see some stronger indication of direction.

[billyjoe]

Ski,
MED is up little over 1% but there isn't much volume. Was checking the dates of ups and downs and am not so sure on the effect of stocklemon anymore. The initial hatchet job hurt but it recovered from that and didn't really rally when stocklemon recanted. If the opening of new diet centers works out on schedule , assuming they're gaining on competitors with a superior proven plan, long term looks bright. They still turn up on lots of <10 screens so we know they're in the top bracket of the low priced.

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