MTM's Charts to watch

[Runner]

Ok I am just testing this other run around here. Let me know if you can see this chart???

MTM, that is one awesome looking chart, but what method is it based on? Explain to me the meaning of all the lines or what they represent.

thax

[IIC]

I see them now...Doug(IIC)

[mtm]

Which chart Runner? Nice to talk to you by the way!

[mtm]

I see them now...Doug(IIC)

Thanks Doug.

[mtm]

$47.63 is the 68% retracement (fibonacci) for the Oil futures. This is a critical level in order to hold the long-term bullish sentiment for the Oil Bulls.

Possible triple bottom on the RSI too.

[mtm]

Wide Range Bars Up: BORL, ELOS, IFOX, INFA, NIKU, PKTR, REGN, SSRI, TTWO, INFI.

[B.J]

I see them too, MTM.

Good column! I've been looking at DIOD, also, and thinking about entering tomorrow.

Good call on SYMC also. Candlechart shows a bullish 3 white soldiers. I'm a little late, but I'll watch for future uptrend.

[mtm]

SYMC is good, grab it on the pull back. (around 19.26 area)

And thank you for the compliment!

[mtm]

We took profit on all trades this morning except for the following. We are holding half of our SYMC for a longer position and we are still short on ENWV. Everything else is gone and everyone should have nice profits for all stocks made a good move.

[B.J]

You think DIOD can continue upward? It reversed a bit today, but still appears to be in the middle of the day's range.

[mtm]

Yeah it still has upside potential, we just don't have any faith in this fluff rally.

Plus we had a great week in profits so we wanted to book them

[IIC]

Yeah it still has upside potential, we just don't have any faith in this fluff rally.

Plus we had a great week in profits so we wanted to book them

Fluff Rally...good way to put it...and I agree...I really don't see anything behind it myself...IIC

[skiracer]

I took a look at the daily and weekly charts for DIOD and depending where you're entry point was over the last several weeks you would have a nice gain. And today it broke through resistance at 31. It could be clear sailing from here with a little help from the markets. But that is the unknown factor. Will the uptrend continue? Otherwise the stock is a picture example of a great move up with normal consolidations and pullbacks but continuing the uptrend.
Answering your question the stock looks great from here. Breaking through 31 cleared a big hurdle. Expect some normal consolidation of it's recent gains but to continue the recent trend up. It you have decent gains then perhaps you should consider taking some off the table while you have them in hand and letting the rest ride with a trailing stop. They don't continue up forever and you caught a good one. Don't be foolish and give it all back. Put some in the bank and keep a tight rein on the rest. If you get stopped out with a tight stop then count your blessings and move on. There are plenty of others out there with the same potential.
I get a kick out of hearing statements like the fluff rally one. You capitalize on the recent uptrend, fluff rally if you must, an after taking your gains which you should be counting your blessings for, you degrade the rally that you capitalized on but boast of how good you did this week at the same time. If it weren't for this recent rally we would all be wishing in one hand and shitting in the other and seeing which one filled up first. Now just because you've taken out your profits there's a slim chance it won't continue. Of course there's going to eventually be some sort of consolidation of the recent gains, which is always the case and normal, but what makes you think that it is at the end other than we might get some consolidation.

[mtm]

WOW, heavy statement! I am not saying it won't consolidate and continue. (the market) I call it a fluff rally because half the move was caused by shorts running for the sidelines. I honestly could see the market going back to test the year's highs by summer. The thing you must understand with how I trade 90% of my positions is that I don't wait for the market to tell me to get out. I am getting out before the market tells me, and yes many time positions may continue straight up another 5 points.

I try to get in on the confirmation and jump ship before others think about it. I have a system of screening and picking stocks that works great for my style. Which I noted in the first post for everyone to trade their own plan. I also stated I would try to update people on what changes I have made due to my calls.

I swing about 20 stocks at a time, when dumping one picking up another. My success rate has been much more profitable for me getting out what could be early to others.

I have new buys and shorts come across my screen constantly that offer to me a greater risk/reward scenario than sitting in a stock that I may be up $3 and has been up 4 days in a row. I would rather dump that one that was up 4 days, and move into what I see has a better risk/reward.

Me calling this a fluff rally is just my opinion, please don't take it like I am saying I know for sure. No one ever really knows because anything can happen.

DIOD looks good still on the chart as you mention it has a nice weekly break-out. I was just stating as I said I would that I was happy with what I gained and was getting out, nothing more nothing less.

I run a very complicated system on my end and use what works for me.

The market was up about 350 points on the DOW the this week right?

So, I was long 13 stock and short 7 and only lost on 1. I am short and long the market almost everday. Its just my system and how it works.

Trade your system, strategy, stops, ect. and what works for you! I am just posting some ideas and trying to update on what I was doing for I like to be in and out of most of my trades by 4 days at the most.

Hope that clears things up?

[mtm]

Oh yeah I was not boasting. Please don't say I was when I was'nt.