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Registered User
Joined: 3/21/2006
Posts: 4,308
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I find myself with a little more time these days to look at some charts so I thought that I would share.
UWBK looks to be starting somthing good. I know that the market is down "for now" but there is always something moving... This chart might be it.
TSV & Money Stream are trending possitive since the bottom in mid December. Since that low on December 21 I also see possitives in a few other indicators (some are home made)...
Check out the chart
As always this is not a recomendation just a chart that I would keep my eye on... All opinions are welcome.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Registered User
Joined: 2/21/2007
Posts: 797
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Sorry Aps, but want something that moves more than .20 / day.
How about a couple of IPO's
STRI problem is the industry is moving down. Not much pressure on the shorts.
RUE Not much pressure on the shorts.
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Hi Apsll, welcome back!
John, you might want to think in terms of % change in lower priced stocks. On something this low in price you won't be buying only 100 shares, and a .20 move on a $3 dollar stock is 6%. Consider that this stock has moved up 49% from the December bottom and we've got a very healthy move in just over a month.
As far as this stock goes I like that it's recently broken out on very strong volume and is consolidating nicely, which, to me offeres two things: a defined entry point and a defined stop loss/risk level. I like looking at charts that let me know what I'll be doing and how I will be trading it.
For an entry I'd wait for a break of the recent high and for a stop I'd look at just below the consolidation. Given that the market does seem to be correcting, this could get tricky.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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David; Always a pleasure discussing Technical Analysis with you. Your risk/reward observations are sound as always. I agree with your views on this chart. I see a buy above $3.50 and a stop right where you have plotted in your chart above.
Thanks for the welcome matt David but we will see how much time I have to trade. I did activate "Telechart" as I miss looking at charts. But I am still filling holes at the office so that I can spend more time doing what I love.... Trading.....
John; I am not into IPO's. I like to see a history of at least a few years. David is correct that one should measure a stocks move more as a percentage and not in terms of $$. If you recall my favorite charts are very similar to Tobydads vision of "Bottom Feeding" We just approach them differently. I also like the momentum trends, for example take a look at INCY. If price makes a new 52 week high then I would be interested.
Any way I will be around a little more now and I hope more in the future. I will also adjust the size of my charts to fit the format....
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Just an update for this one. We were left with a pretty good looking doji that is still within the Support region and can still rally off this consolidation. I will be busy for a couple of days but I will revisit this one when I return.
Here is the chart -
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Registered User
Joined: 2/21/2007
Posts: 797
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Can't help it, just a little dig. Should have jumped on the IPO's , APS. You're right they are a little risky. Kind of figured an up day after last week.. That was scientific, wasn't it?
Yeah, David, I know I should figure %. But after living my informative years with my mathmatical genius old man, lecturing me that I need to learn percentages, my math skills consists of 2+2= DUH , I only figure profit/loss % after I'm out. MIT was not on my list of colleges to attend.
if you would like to post how you figure %, I'd appreciate that.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Price on this one is still in the support level range and I am expecting a bounce soon.
If the Markets cooperate then there could be an oportunity to day trade this one today.
Below is a chart that shows the range of buy and stop level. Use Tobydads method to buy,
one penny above the high from yesterday and if the Market turns south on us then I would
use a tight stop. Better to take a small loss then it is to cross your fingers on this one.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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" But after living my informative years with my mathmatical genius old man, lecturing me that I need to learn percentages, my math skills consists of 2+2= DUH , I only figure profit/loss % after I'm out. MIT was not on my list of colleges to attend.
if you would like to post how you figure %, I'd appreciate that."
================================================
In the example provided it would be:
.2/3=.0666
.0666*100= 6.66 percent
However you typically don't need to calculate it.
You can look at the chart scale.
Notice the red 4.87 on the price scale.
That tells you that the distance between the grid lines is approximately 4.87%.
(this is only when you use a log scale the other will show dollar change)
So if your next chart looked similar but the 4.87% changed to .5%
then you have a less volatile stock.
You can also see at the top
A 2 cent change equals approximately .64%
Thanks
diceman
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Registered User
Joined: 3/21/2006
Posts: 4,308
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This one is still in play I think. Today could be the turn around. I will revisit this one on Thursday. Here is the updated chart.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Perhaps we should start posting the charts that failed us more often. It has been said that some of us love to post our winning charts but in order to see the whole picture I agree with them that the losers should also be shown and the details discussed at length.
Despite all the great analysis and high hopes; this one was a major let down.
BOP was strong, Money Stream was strong. Price even got a hit on CCI 20. I could go on and on with this one. I think that the only bad thing back then for this one was the very low volume pattern.
I though that the chart pattern was a perfect bottom feeder chart. I fell in love with this chart and look at the results. This was a complete dud to say the least.
So just make sure that the one thing that you are not going to be fooled by is your "Money Management" and your trade management.
What this means is to cut your losses early and then re-evaluate.Yes you will take a loss but it will be minimal and your confidence will be intact. Then study the chart and see where you failed.
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Registered User
Joined: 1/12/2009
Posts: 235
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Apsll, question for you. I believe you have stated that you are friends with Signaltap. Why is it he rarely posts here except for status updates on gold or his basic market commentary? I also notice in pass threads, big block rarely if ever comments on Signaltaps threads.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Howdy Traderm... I am sorry if my statments were misleading. I am not acquainted with Signaltap; we are just both from Boston.
He is a notch above me in his trading I believe. You can find him on Twiter & Myspace as well as here when he finds the time. He has posted links but I am not sure if the Mods have deleted them. I have watched a couple vids by him and he knows his stuff.
I believe Bigblock does not bother Signaltap because number one, signaltap is a true wiseman and does not concern himself with the petty fighting and number two he would talk circles around bigblock.
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