Swing trading... lessons learned...

[Runner]

We all know about hindsight being 20/20. Anyway 2 days of DT’s was not bad so I’m happy. It can go to 13.00 now. Lol

[Websman]

Ok, rub it in some more!!

Man, I sure am glad I bought it at $6.60 and have already sold it for a good profit. lol

[B.J]

B.J this is one of my reasons to bail. Oh well looks like I was wrong, but hey no problem it won't be the last time I've been wrong.. I had seen many stocks setting up with a possible s/h/s over the weekend.

Runner, this is why I was only in a partial position. I wanted the SHS to resolve itself, just didn't think it would instantly

Spike, funny stuff. You'll get the next one, and good to see you maintain your humor.

[dmk112]

Can i get a HELL YEAH for VPHM!?!?

[B.J]

hhhhhhhhheeeeeeeeeeeeellllllllllllllllllllllll Yyyyyyyyyyeeeeeeeeeeeeeaaaaaaaaaaaaaahhhhhhhh!!!!! !

[spikefader]

hhhhhhhhheeeeeeeeeeeeellllllllllllllllllllllll Yyyyyyyyyyeeeeeeeeeeeeeaaaaaaaaaaaaaahhhhhhhh!!!!! !

LOL, now look at that. The flow of bullish glee emotion is right at the R shoulder formation. Those two factors together, short it! lol

[B.J]

Spike I actually have a trailing stop in.

Now that you mention it though, is it possible for the right shoulder to rise above the head?

[spikefader]

Spike I actually have a trailing stop in.

Now that you mention it though, is it possible for the right shoulder to rise above the head?

Well, I'd now call it a double top and the SHS in invalid.

[spikefader]

VPHM:
Channel short on the daily. Potential double top.
This is resistance boys. And the place to be selling/shorting/buying puts - during strength. Limited downside risk, quite a good target - look for gap fill.

Here's an options example I'd play with VPHM. Sept 10.00 strike puts asking $0.30.

[B.J]

Double top, of course...

My trailing stop is at 12.40 (just under the gap open). May move it up after today. Market looks like crap (VPHM is single-handedly saving my skin).

[spikefader]

Further option thoughts:
Or if you owned the stock and didn't want to sell it yet, as a hedge to lock in profits and look to profit from any weakness at this resistance/future correction to the impulses up, you could hit the bid and sell the Sept 10.00 calls right now for $3.90 (quote is 3.90x4.10). The stock you own covers your risk to any futher bullishness, and Sept gives you plenty of time to extract yourself/take profits on the correction that will surely come in VPHM.

[spikefader]

Very interesting that even with new highs of 13.85 the daily is showing a channel short! amazing.

[spikefader]

B.J, yep, wise trailing stop.

VPHM: fun to watch for sure. 13.95 and still an expanding short on the daily!

[spikefader]

This count is actually better, and with new highs, it opens the door to the purple 5th completion. That is one place to target to take profit. Although the volume is suggestive of a runaway gap here now

[spikefader]

14.04 tweezer, and the count on the last move up is showing 5 smaller have completed, and the purple 5th is now done. That tweezer 14.04 is a potential top now. If it were me, I'd be out.