Swing trading... lessons learned...

[Runner]

Yes, Runner, makes sense. What does MSH mean? Midnight Star High or something else?

Could be worse. Consider the guy who bought at $2.95. Hope he's already out.

I believe it is important to look at a chart from both sides of the table. Once we enter a position long it is easy to become one sided. This chart clearly shows the cards were stacked for the shorts. Trying to figure out the bear and bull tasks is what I believe is key. EZEN may bounce from here and as you can see some aggressive buyers might step in, but we shall see. I’m Bearish on it until 2.50 has be taken with volume. The daily chart

I look for the market structure highs and lows, hence MSH, MSL. Once this structures have been put in I now can try to determine the bull and bear tasks. In Ezens case it went from a MSH to MSL then I can plot target. This works in any time frame. Notice how this one kept confirming the bear tasks by continuing to drop the price. Bulls did not want to play.

During a uptrend the MSL is higher then the last low. Often times the MSL will act as a good trigger point, if the stock is in a uptrend. Most times the MSL will spike down and leave a nice tail. Like the daily chart of EZEN. The daily chart sends a warning message for shorts, but nothing happens until another signal occurs.

[Runner]

Signal was 20 band pop, 60-13-3 minute STO moving up

[B.J]

Nice example, Runner! Thanks for the assist.

[Runner]

Now check out the daily chart on LCAV. Notice this trade off the 60 minute chart had you long yesterday. The 60 minute bull tasks were plan to see. Higher MSL’s

[B.J]

The Huge One's pick, SSNC forming a neutral pennant. Should resolve itself in the next week or so. I'm watching.

[New-born baby]

Just one question . . . .

Signal was 20 band pop, 60-13-3 minute STO moving up

Runner,
Just this one question: how do you figure your target price?

[Runner]

NB I use fib's from MSH/MSL's.

[New-born baby]

Brain dead

NB I use fib's from MSH/MSL's.

DUH!

Grandma was slow, but she was old. I don't have an excuse.

I thought you had some magical Elliott Wave Theory formula.

[B.J]

Bought back some ERS (10.06). Plan is to buy 1/3 now, and 2/3 at a lower support level (about 9.25 or so).

Bought some CMT also (11.24). Acting contradictary. Daily says ascending triangle, but 60 min says descending. Also plan to buy more at a lower support level.

Others I'm watching: FORD (support at 50 DMA), SSNC (holding nicely), VPHM (narrowly missed on a 6.70 limit buy)

[Websman]

Bought back some ERS (10.06). Plan is to buy 1/3 now, and 2/3 at a lower support level (about 9.25 or so).

Bought some CMT also (11.24). Acting contradictary. Daily says ascending triangle, but 60 min says descending. Also plan to buy more at a lower support level.

Others I'm watching: FORD (support at 50 DMA), SSNC (holding nicely), VPHM (narrowly missed on a 6.70 limit buy)

I may set a limit order for ERS tomorrow at around 9.25 or so.
It figures MCZ would recover some right after I sold the %$#@ piece of $#!T.

[grebnet]

.
It figures MCZ would recover some right after I sold the %$#@ piece of $#!T.[/QUOTE]

Like I said before it may be dead money for a while but I do think it will move . Im holding tight in case they surprise me .

[B.J]

Webs, I wouldn't get too upset over MCZ. It does look like it's trying to find a bottom. Let's keep our eyes on it!

EZEN, still like it fundumentally. But for traders, stocks that don't allow stops normally shouldn't be considered. I will keep my eye on a potential bottom, though.

Now then, ERS... here's what I see:

21 day moving average: 9.37
4.13 - 12.59 FIB: 9.36 (38.2), 8.36 (50)
5.81 - 12.59 FIB: 9.21 (50), 8.41 (61.
6.99 - 12.59 FIB: 9.12 (61.
Next support (PVB): 9.55
2nd support (PVB): 8.59
Raff channel long: 9.13 (may change intraday)
P: 10.66
S1: 9.33
S2: 8.42

Webs, I see a significant case for the mid-to-low 9 range attracting significant support. Even if that fails, mid 8 seems strong as well. After today's bad day, I'd say 9.33-9.50 is a good potential buy based on the inital panic taking out of the 9.75 low.

[B.J]

Rounded out my ERS position. I guess I could have set my limit lower. It actually got to 9. Gave it too much credit, I suppose

[mooddude]

Rounded out my ERS position. I guess I could have set my limit lower. It actually got to 9. Gave it too much credit, I suppose

I sold ERS at almost the peak at 11.95. Nice timing I will probably buy smaller position around $8 or even when it touches 50-day MA

[B.J]

I sold ERS at almost the peak at 11.95. Nice timing I will probably buy smaller position around $8 or even when it touches 50-day MA

Maybe I should have waited to do the same