HANS Sold ==> That's 70 winners in a row for $$$MR. MARKET$$$

[spikefader]

Just took HANS long 89.50. Stop under lod.

[tokyojoeskid]

spike

Do you use just stop orders or stop limits?
thanks
TjK

[jiesen]

Just took HANS long 89.50. Stop under lod.

Nice catch, Spike! You're already up 2.60 on that... I tried putting in an order for around 89.5 after yours, but it didn't fill. Oh well, you can't get 'em all.

[spikefader]

Do you use just stop orders or stop limits?
thanks
TjK

I use both, depending on the situation. With jumpy low vol stocks I use stop limits and risk it. If it drops fast and doesn't fill my stop, I then have to get cute with it and extricate myself from the position. Then it's a game of support resistance for me. With very high volume stocks I'm more comfortable using stop market orders. With futures I use both market and limit orders, depending on the situation. Market conditions, liquidity, strategy, and your own psychology play a part in determing which type of order you will use. For HAL, I am using a stop limit order.

[spikefader]

Nice catch, Spike! You're already up 2.60 on that... I tried putting in an order for around 89.5 after yours, but it didn't fill. Oh well, you can't get 'em all.

Thnx. Plan working nicely so far. Nice daily candle there. On the hourly, looks like it's completed 5 waves down, and just about done with the abc. Looking for c high to break, and price to search for that upper channel from the top.

[oscargo]

Congrats on the pick, great job. I didn't feel comfortable with Hans. Not the first time I was wrong. Enjoy the site. Perhaps its the Pacific Northwest Salmon. Doc. says no meats and Cheeses.
Have a great trading year. Don't forget Oil and Gas.

[spikefader]

Just took HANS long 89.50. Stop under lod.

OK, there is the fresh buy signal for HANS and the intraday pullback to 94.75 is a great support play:



I'm targeting the daily upper declining channel from the top which at this moment is a little under 103; and if that channel turns up before a hit, then let it ride and target a rising upper channel

[B.J]

Spike you have a target in mind? If I draw a Raff channel from the recent low, the upper sits at about 102 as of today. Good place to start?

[spikefader]

Spike you have a target in mind? If I draw a Raff channel from the recent low, the upper sits at about 102 as of today. Good place to start?

OK, it's deep thought time for HANS....and where to target.... Congrats by the way B.J ~knocks on wood~ Anyhow, let's not put the cart before the horse. It's early days and it's off to the charts we go. With clear heads let's design a plan that is foolproof. That way, we can easily follow it and have the discipline to do so, and without having any regrets about it.

This really is an impressive weekly chart. It's an animal. It's been so strong, and so consistent, that there is no reason to assume the trend has been turned just because of that bearish single weekly candle last week. Look at the previous bearish single week candle back in May - even on massive volume, and even despite that day, HANS continued to march on and reward bulls. Frankly, I think it's going to take a lot to turn this monster - something like a big weekly pattern or a volume sell off that breaks a channel on some terrible news. Right now, it's free of any technical long term reason to sell. The future is so bright I gotta wear shades. I don't know the fundies, but it's a MM pick that rewarded him quickly, and the market is bullish, and I'm bullish, and optimistic for this thing. At least for now. Technically, it's in fantastic shape.

With the nice entry the other day, and the good >7% profit we have, we've got to really nail down on our opportunity and risk and assess what is a realistic target on this puppy. Without question, it's a 'stop to even' scenario now. No brainer as far as I'm concerned. You may even want to trail the stop under the trailing hourly PSAR in the other chart I posted today showing the fresh buy signal this afteroon. But not me, it's break even and let her run.

Now, the question is: Are you prepared to risk your 7% for the possibility (technically valid possibility) of 44% or higher? I am and I'll tell you why.

The upper weekly channel drawn conservatively from Oct 04 opens the door to 140 and rising. There isn't any bearish weekly pattern to worry about yet. We caught it at a fabulous place; a minor WEEKLY channel long, the money flow is fantastic, the sector and group are raging, and it's a MM pick! We've just had a fairly substantial retracement correction considering how bullish this stock has been over the last 2 1/2 years. In the circumstances, I really think it's worth giving this one the chance it deserves. I don't want to be too impatient and take it off the table before it matures. Sure, take it off the table if it hits the pink channel in my chart and gives a 'pure and classic' intraday reversal pattern. You don't want to ignore the tape and lose your by then 15%.

BUT: if it doesn't give you the reason to exit, and if that pink channel turns up, then the only thing left to worry about is a potential double top at 108. Watch intraday patterns and behavior when it hits that, and exit where prudent to do so if that shows itself. But if it doesn't, and she trades up through 108, smile buddy because you've got the chance of a quick move up to an upper channel like 140 and your 44% and rising as the channel rises. Great entries can lead to monumental gainers if one is patient enough. HANS is a candidate for an amazing trade I think. I'm going to let this on do its thing, meander a bit, and I'll give it some leash to do the normal cyclical thing as it works up to an exhaustion move. That 108 was NOT an exhaustion move in my view. I want to see one

Oh, and just a few comments on the entries: We got pretty good entries and my position hasn't had to sweat more than the sum total of maybe an hour over Monday and Tuesday before it was all green and not looked back. You sweated a little longer, sum total of 4 hours on Mon Tues. The perfect entry was the c failure long at 87.00 I mentioned and the 'next to perfect' entry was the 87.75 neckline break of the inverted SHS. My entry was pullback to support play that got lucky and looking at the chart yours was a pre triangle bullish break out ... but we were both short of perfection for it, which is why we weren't rewarded immediately and had to patiently watch it the next 2 days wondering. Obviously the longer you sweat, the worse the entry was. So anyone reading this can learn from our experience and maybe THEY will catch the perfect entry rather than the 4th best entry, ya know! OK, so B.J only got the 4th best entry of the day hehe, next time he's going for the Gold. I got the bronze, and I'll be going for Gold next time too There's just something about nailing a Gold medal entry and being immediately rewarded, and knowing that it's not based on dumb luck, or blind faith, but plain old TA charting know-how

[mrmarket]

I actually almost understood this. Spike, where did you come from and whom do I have to thank for having you as a regular around here?

[B.J]

Spike, today's drop: good place to add shares?

[spikefader]

Spike, today's drop: good place to add shares?

Yes, I think so.

[B.J]

HANS rocks! Bounces right off the trendline, and up a little now!

[spikefader]

HANS rocks! Bounces right off the trendline, and up a little now!

Good for you. I'm out even and back into stalk mode. Gee I'm fussy aren't I! But that was the plan.... Good luck with it B.J!

[B.J]

Hey Spike check me on this, but do we have an intraday triangle breakout (94.2-94.3 range)?