Swing trading... lessons learned...

[New-born baby]

ERS for the MoonDude

Maybe I should have waited to do the same

BJ & Moon--
Here's a chart that says "supper's ready." ERS is served piping hot.


I know nothing about the company. I just read charts. If it has earnings, it has a chart for a long.

[B.J]

Nice analysis Newborn, and I was thinking much the same. I'd be surprised if it cut through the 7.50-8.50 volume bar, but it has cut through the 12-9 range rather rapidly. Monday will be interesting.

And, I realize that, since ERS has served me well to this point, that I have to battle real hard to resist "loving" this stock. Falling in love with a stock is about the worst thing one can do

[New-born baby]

I'm in love . . . .

Nice analysis Newborn, and I was thinking much the same. I'd be surprised if it cut through the 7.50-8.50 volume bar, but it has cut through the 12-9 range rather rapidly. Monday will be interesting.

And, I realize that, since ERS has served me well to this point, that I have to battle real hard to resist "loving" this stock. Falling in love with a stock is about the worst thing one can do

Yeah, I trust it won't cut through the bar. Perhaps someone ought to consider the valuation of the company. It has already lost 33% of its value the last two days.

I love dividend payers. That way, on days like today, I find a lot of comfort in just shutting off my streamer and looking forward to the check coming.

[B.J]

I love dividend payers. That way, on days like today, I find a lot of comfort in just shutting off my streamer and looking forward to the check coming.

It does pay .22/shr. Not bad for a growth stock.

And in case you wonder, ERS distributes a wide range of aluminum products. Rev (2002-4: 16%, MRQ: 48%), Earnings (2002-4: 45%, MRQ: 97%)

[mooddude]

ERS is becomming more like a lottery since the uptrend was broken. It may rebound from the support New-born mentioned or go lower, but taking into account the company's great fundamentals, low P/E, prior uptrend and long-expected profit-taking comming into place I guess it will try to continue going higher.

[B.J]

Nice day for ERS today. Still wish I had jumped in yesterday, instead of Friday.

Nibbled on VPHM @6.95. It's forming a triangle which will soon come to an apex.

[dmk112]

VPHM: it may be a good move, the thing with triangles..you don't know which way they will go!

[B.J]

VPHM: it may be a good move, the thing with triangles..you don't know which way they will go!

Appreciate the input DMK, and I agree. I'm thinking a tight stop is in order. That's what I did with CMT. Although it has bounced back a bit, you can never be sure that it will.

[B.J]

Exited ERS at 9.94 near today's close, about .25 over where I bought. I did not like today's long upper shadow. Plus, it nearly touched the upper channel (traced from the 12.59 high of 6/20) before backing off. I'll take my little bit of profit on this go-around and run.

VPHM remains my only holding. Observing the action from many other stocks today, I figure just as well.

[mooddude]

I think it's best to wait for ERS to bounce off 50-day MA before buying it. Same applies to CMT (CMT has been trending lower on lighter volume.)

[B.J]

Agree, Mood! Able bounced pretty strongly off its 50 DMA today. I'm watching. Probably should have nibbled today.

[mooddude]

Agree, Mood! Able bounced pretty strongly off its 50 DMA today. I'm watching. Probably should have nibbled today.

Interesting bounce I'll be watching, too

[B.J]

ABLE gapped open higher. I nibbled (1/2 position) in anticipation of a morning star reversal. Since it's a 1/2 position, I'm allowing a lot of room for it to move.

ERS down big... glad to be out. I'll await further pullback.

CMT drifting toward low 9's... may pounce soon.

[B.J]

ABLE looking good thus far. Higher low today, now needs to eclipse yesterday's high of 15.89. Runner always says it's all about the MS, and ABLE is currently doing what it needs to.

[B.J]

VPHM dropped out of its triangle on my way to work, but held above the recent 6.54 low. Like to see it firm up by the end of the day, though.