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Al_Gorithm
Posted : Wednesday, August 30, 2017 11:23:38 AM
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We've visited Aflac before, but another nice squeeze currently.

Might be a couple of days late to get in, but maybe not ... it has just barely cleared the last swing high, so as long as Trump doesn't start lobbing nukes, I'd expect AFL to move up a bit.

Al_Gorithm
Posted : Wednesday, August 30, 2017 11:39:26 AM
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ICE, ICE, Baby!

  • All EMAs (Quarterly, 6-Month, Yearly) on the Weekly chart lined up and rising.
  • Nice squeeze on the Daily.

Scans and charts and indicators can only take you so far ... you need a trade plan, your trade plan, look at the current price action, set your entry, then manage your exit and profit targets. Everyone's different, but we can all be green ..

Al_Gorithm
Posted : Wednesday, August 30, 2017 11:51:52 AM
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ATVI looks like it is ready to, wait for it, POP!

A 3 ATR move will get you "only" around 3-4%, maybe a little more since the channel rises as the price rises. Nothing magic about 3 ATRs, just an observation. Trade YOUR plan.

 

 

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:00:36 PM
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PKG, VRTX, SPGI, CHTR, ...

I'l let you pull up the charts.
I'm heading over to the counter to flirt with the barista...

Jennifer, another round!

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:04:32 PM
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PVH is a buck or two away from clearing potential short-term resistance.

Jen's making my drink now. ;)

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:08:56 PM
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PYPL. Again. Lather. Rinse. Repeat.

Got Jen's number. YES!

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:10:13 PM
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CAT.

Putting Jen on my speed dial.

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:13:41 PM
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Couple of weeks late for CRM's latest squeeze, but a good looking weekly chart. Wait to catch the next bus. 

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:18:48 PM
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PDCO looks like a promisng short. Soon. Maybe. Patience. Observe the price action, wait for it to clear resistance. 

Bears make money as well as Bulls. I like to swing both ways - NO judgement here :)

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:26:33 PM
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BRKB. Let Warren make you some ice cream money.

Al_Gorithm
Posted : Wednesday, August 30, 2017 12:51:30 PM
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PHM. Just follow the chart. It will tell you when it is time if you listen, and watch. Don't force it. Take what the chart gives you. Plenty to go around.

Al_Gorithm
Posted : Wednesday, August 30, 2017 1:06:36 PM
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Tip of the day...

Don't get hung up on indicators and scans. Get NAKED!

Alexander Elder likes to say a chart should "grab you by the face!". If you have to look at a chart for more than a second or two to make a decision, move on to another chart.

  • Grab some coffee, remove all indicators, remove grid lines, etc.
  • Dump everything but price.
  • Turn on Slide Show Mode and practice looking at naked charts.
  • Clothing optional. LOL.

Does MHK grab you by the face? Why? Why not? Nothing really matters except price...

Al_Gorithm
Posted : Wednesday, August 30, 2017 1:13:54 PM
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Jennifer, another round ... whaddya doin' Friday? ;)

Al_Gorithm
Posted : Wednesday, August 30, 2017 1:37:14 PM
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RCL. Royal Caribbean Cruises. Another squeeze.

  • Been there.
  • Done that.
  • Do it again!
  • Pay for your next cruise.

Hmmm. Wonder if it's too soon to ask Jennifer on a cruise.

Don't even think about it. Find your own hot Barista. ;)

Al_Gorithm
Posted : Wednesday, August 30, 2017 1:43:18 PM
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DLPH. Like fish in a barrel.

Granted we're in a Bull market, but you've already seen charts that looks just as good for shorting ... probably even better since stocks take the stairs up but take the elevator down.

Al_Gorithm
Posted : Wednesday, August 30, 2017 2:00:28 PM
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Just missed a 4% pop in RHT.

  • No worries.
  • Nice looking weekly chart.
  • Catch the next ride.

RHT still moving up, but for how long? I chase skirts, but never chase stocks. LOL.

Al_Gorithm
Posted : Wednesday, August 30, 2017 2:15:11 PM
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ALGN.

  • This is not a drill.
  • Get your bus tokens ready.

Al_Gorithm
Posted : Thursday, August 31, 2017 11:17:13 AM
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Personally I don't trade penny stocks, but UNXL has decent volume at the moment, and a 50% drop since squeezing. Trade it before it drops to $0.00. Might be too late, LOL.

Al_Gorithm
Posted : Thursday, August 31, 2017 3:43:27 PM
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QQQ, my old friend...

  • Just popped out of its latest squeeze
  • Just cleared July 27th swing high potential resistance
  • Still a bodacious looking weekly chart

jklmttrader
Posted : Friday, September 01, 2017 11:49:45 AM
Gold Customer Gold Customer

Joined: 5/16/2014
Posts: 57

i don't need any indicator or overlay to make money trading stocks..nada, not one!  

 

Al_Gorithm
Posted : Friday, September 01, 2017 12:04:46 PM
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QUOTE (jklmttrader)
i don't need any indicator or overlay to make money trading stocks..nada, not one!  

Just hourly bars ending at the bottom of the hour. :)

Al_Gorithm
Posted : Friday, September 01, 2017 12:06:17 PM
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Al_Gorithm
Posted : Friday, September 01, 2017 2:33:09 PM
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While jklmttrader doesn't need any indicators or overlays, nada, not one! ...

... remember what I said ealier about naked charts. Indicators and scans are just tools and should not be relied on as crutches. 

When you're ready, take the training wheels off and get naked!

Can you spot the 20% opportunity below?

Gr8Trades
Posted : Friday, September 01, 2017 4:38:32 PM
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Joined: 5/6/2014
Posts: 79

ok I'll bite:

CHK weekly

perfect XABCD into PRZ area

CHK Daily

perfect within one penny:

 

CHK 30min

XABCD perfect reversal action at the PRZ's of the larger TF's 

Al_Gorithm
Posted : Tuesday, September 05, 2017 12:53:17 PM
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Gr8, nice!

Not sure our friend jk would approve, since he doesn't need either your help or mine ...

QUOTE (jklmttrader)
i don't need any indicator or overlay to make money trading stocks..nada, not one!

... but it proves my point that there's no one way to be green. It ain't about being "right", or needy. It's about being profitable. Any way that works for YOU.

Anybody see any opportunities on TECK's naked Daily chart? I count at least half a dozen decent entries. Exits and trade management will vary by individual, of course.

Still, how can you not love this chart? 

Al_Gorithm
Posted : Tuesday, September 05, 2017 3:25:11 PM
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Okay, I'll admit I took TECK's screengrab before the market opened today. LOL.

Hard or soft stops and/or alerts are, of course, recommended.

Or spreads if that's your thing.

Al_Gorithm
Posted : Saturday, September 09, 2017 11:56:02 AM
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Hindsight is 20/20. Here's a current chart...

CORT. Ready to pop? No indicators, no scans, just you, your eyeballs, and your braincells. :)

It's a bit low-priced, and a biotech, so your trade plan should be ready for volatility. Opportunity? Only you can decide...

Al_Gorithm
Posted : Monday, September 11, 2017 10:48:29 AM
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Al_Gorithm
Posted : Monday, September 11, 2017 10:56:12 AM
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Al_Gorithm
Posted : Monday, September 11, 2017 11:26:48 AM
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Al_Gorithm
Posted : Monday, September 11, 2017 11:29:24 AM
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Al_Gorithm
Posted : Monday, September 11, 2017 1:00:47 PM
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Al_Gorithm
Posted : Wednesday, September 13, 2017 7:00:25 AM
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PLNT, WMW, WPRT, DVN, RIG, XRX, ERI, INFO, ALLY, TSCO PLNT, WMW, WPRT, DVN, RIG, XRX, ERI, INFO, ALLY, TSCO 

Al_Gorithm
Posted : Wednesday, September 13, 2017 7:01:23 AM
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PLNT, WMW, WPRT, DVN, RIG, XRX, ERI, INFO, ALLY, TSCO

bcochrane
Posted : Thursday, September 14, 2017 4:46:46 PM
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Posts: 387

Out of idle curiosity, did you settle on a scan for the ledge period?

Al_Gorithm
Posted : Sunday, September 17, 2017 5:21:22 PM
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No, b, I haven't for several reasons.

I had StockFinder back in the day, but no more, and TC2000's lack of back testing makes it a challenge to objectively compare scanning parameters. This point elevates my bp, so I'll leave it at that. :)

People always hate the following anwser, but the right "ledge period" for me might not be the same for you, and yours might be different from Bruce's. I have no objective data to back this up (feeling my bp going up :) but my gut tells me scans and indicators and parameters are not nearly as important as trade plans, discipline, brain cells, and exits.

Being a programmer can be a dangerous thing - I fall into the trap of thinking the entire process can be automated. Maybe someone has, but they haven't shared it with me.

Scanning and sorting has its place: it can reduce a list of thousands or hundreds of charts to perhaps a few dozen to focus your attention on. Then it's time to get another round of coffee from that hot barista and eyeball some charts.

Lately I've stripped down my scans, and my charts are almost totally naked, save for the Volatility Stop (10,1.5). I look for trending stocks on the longer term timeframe (how much trend is "enough" for you is up to you). Then I look for trending stocks on the smaller timeframe that are consolidating (I visualize it as a box or a shelf, but a ledge works too :) ....then I just LOOK at price action ... are sellers still selling? Are they driving the price down? Is it near support? Are there fewer and fewer sellers? Are buyers stepping in, raising the price? (Remember, it's all one big auction).

It could take a few candles, or it could take 20 or more candles (hence the scanning parameter challenge) but eventually price action reveals the sellers have finished taking their profits and moved on, and fresh buyers see an opportunity to ride the next leg up and have gottten on board, starting to raise the price. How much? Up to you. Too much and you'll be chasing and running into the next resistance level. Too little and there still might be some sellers in the neighborhood dumping their shares.

Find a chart that looks like it wants to go up (or down) and listen to what it's telling you. Volatility is kryptonite. Picking tops and bottoms and breakouts is fun. Being green is funner.

Barista!

 

bcochrane
Posted : Monday, September 18, 2017 12:58:34 PM
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Joined: 9/17/2010
Posts: 387

Appreciate your reply

I concur with your assessment of the difficulties automating the market

Al_Gorithm
Posted : Monday, September 18, 2017 2:13:03 PM
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Lately I've been cutting back on the coffee, and trying to moderate some other bad habits :) 
 
Like...
  • adding more indicators to my charts
  • adding more conditions to my scans
  • reading the latest issue of S&C cover to cover
  • trying to predict what's going to happen
  • keeping my finger on the buy button

Still flirting with the barista. Some habits are worth keeping. :)

I'm now running minimal scans, switching to decaf (yuk), stripping my charts naked, and practicing reading price action.

If you forget about all the goofy names people give candlesticks and just put yourself in the shoes of the buyers and sellers and get in their heads, price actually starts to tell a story, if you just listen.

Many charts are noisy - I toss those aside. I'm getting picker. Trying, anyway. What I'm looking for are charts with islands of some order in a sea of chaos. 

Easier said than done when you're going through caffeine withdrawal. :)

Al_Gorithm
Posted : Monday, September 18, 2017 2:35:52 PM
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Don't need no indicators, or parameters, or conditions, or scans, or PCFs ...

Just a pot of decaf, the spacebar or Slide Show mode, a pair of eyeballs and a few braincells. :)

Don't need a scan to tell you the latest PYPL sellers might have left the neighborhood, and fresh buyers are starting to bid the price back up again. 

Always need a logical entry & exit plan, but I'm going to go out on a limb and say this chart is bullish. LOL.

Al_Gorithm
Posted : Tuesday, September 19, 2017 10:19:50 AM
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Posts: 1,040
Some charts to eyeball over your morning coffee: X, EXTR, ROST, CAR, ERI, EXAS 
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