Registered User
Joined: 3/21/2006
Posts: 4,308
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What happened while I was gone? Did this site turn into the Signaltap2 daily newsletter?? 
Where did everyone go to? 
I hope that I am on the right forum??
Anyway (IMO) it appears that the market correction is getting ready for its third and final wave to the bottom. (I know that today the markets are up, but I feel that there is some more down side action before a bottom is reached), It will not be to long until a sustained buying frenzy is under way.
I will be spending the day looking at charts.
I hope that everyone has had a good week of trading 
Apsll.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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"What happened while I was gone? Did this site turn into the Signaltap2 daily newsletter?? "
ha ha ha ha... I was away for a few days as well ... took some time off after a brief loosing streak... the quality of stocks coming up in the scan took a serious drop so I stopped trading by and large... ocasionally will try to nibble here and there. looked in yesterday and saw all the signaltap posts... looks like someone is having or had a good day in the market
I'm with you on the third leg thing I just closed GROW for a proffit and am getting ready. Up till now i've felt that most charts were to "messy" to make a clear determination either way so i may sit the third leg down out... maybee looking for a few longs. Oh closed some AWESOME options trades.... just basic calls and puts but in the park of 12,000 to 30,000 (one was 48,000 but out of the norm)proffits in just a few days !
I want to start rereading your "fan" posts today and gettign my self ready for a few longer holds this cycle. Gonna take the baby for a walk and get back and start gettign ready for the fall !
Oh had a tad of bad news on the two month check up ... the right hip is underdeveloping and makes this loud "POP" noise frequently as is easily slides in and out of joint and she may need a harness for a few months to restrict leg movement while it grows. Aparently not uncommon in first born girls.
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 Gold Customer
Joined: 11/11/2006
Posts: 359
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Apsll: Good to have you back! Some good stuff lately on the Forum.
I was afraid that the plague had gotten ya!
Mammon
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Registered User
Joined: 8/6/2007
Posts: 73
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Welcome back....
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Registered User
Joined: 3/21/2006
Posts: 4,308
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My sisters little boy was born with a twisted foot and had to wear a cast to keep it straight for a while. He is now going to College and walking very straight, so your little one should be just fine.
I noticed that one of the knights of the round table has started to post here. Is he going to share his Venve Clicquot Ponsardin?
Just kidding I have read his report and he appears to be very knowledgeable. Hopefully he will stick around for some time.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Thanks Mammon and Jtchow, I am back and ready for some good chart analysis.
I whent to the white mountains in New England and had to be dragged back to civilization.
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Gold Customer
Joined: 11/11/2006
Posts: 359
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Know what you mean, Apsll. I live in the foothills of the Cascade Mountains (My "Civilization" and Boston's "Civilization" are probably not the same) and go fishing for two weeks each September on the Alaska Coast. If you have never been there...GO! Hard to leave and get back to MacDonalds and all.
Fella could adapt to that life pretty quick...
Mammon
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Registered User
Joined: 3/21/2006
Posts: 4,308
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You are either in Washington, or Oregon. I would love to visit and to also take a trip up the Alaskan coastline. All are on my list to do when I soon retire. However I will always call New England my home. Give me a nice house in sothern New Hampshire (close to the ocean, and not to far from the Mountains) and a computer to trade stocks with and I will be a happy man.
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Registered User
Joined: 2/2/2005
Posts: 27
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Just returned from a trip to Alaska, Denali Nat Park, then 7 day cruise. Beautiful area. Next year probably cruising New England and Nova Scotia.
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Registered User
Joined: 9/21/2005
Posts: 566
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Although this is off topic a bit, if you have never been to Olympic National Park and in particular the coastal portion of that park, you are in for a treat if you like wild, undeveloped places. One of the most incredible beaches in the United States without a doubt.
Alaska is high up on my list of places to go. One day soon...
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Welcome back Apsll
There are too many jokes here:
"I cant vacation in the "mountains""
Too many ascending/descending triangles.
Flags, pennants, head and shoulder tops.
Double tops. Many solid bases and overhead
resistance.
I would never get any rest !!!
(I already drink my morning coffee from a mug
to avoid the cup with handle. I butter my toast
with my hand. To avoid the falling knife)
Thanks
diceman
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Thanks Diceman, If Tobydad were still with us then I am sure that there would be a large Range of puns and jokes. 
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Registered User
Joined: 8/6/2007
Posts: 73
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Apsll,
What is your view on "SLB"..
Im was in at 91
Thanks
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Gold Customer
Joined: 11/11/2006
Posts: 359
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aaahhhhhhh!!! Diceman! Diceman! you disappoint me. I would think you would thrive in an environment such as the mountains.
The flatlanders lead a drap and uneventfull life.
They look around and all they see is a LLLLOOOOOOONG consolidation basing pattern with nothing more than 5% breaches of the 20
aeon moving average (Simple) with the certain knowledge that any breakout up or down is sure to be a cataclism of Biblical proportions!!
Mammon
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Jt, If you look at Relative Strength for both its own Industry (semiconductor), and The NYSE then you will see that they are strong. It is also my opinion, that after this market correction is over, Semiconductor Stocks are going to be among the first to break-out. (I mentioned on an earlier thread that this sector is one of the few under accumulation despite the current market condition).
If you bought a good amount of shares at $91 then I would sit tight until the resistance at $95 at least.
Keep in mind that this stock is pretty much keeping pace with its Index- NYSE. And I do expect another leg down in this market correction
I am going to buy some stocks in this sector after the market break out from the bottom.
Good luck.
Apsll.
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Registered User
Joined: 12/21/2004
Posts: 902
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QUOTE (diceman) I butter my toast with my hand. To avoid the falling knife)
There's a pretty famous story about the late Russian President Boris Yeltsin who was quite a character - and quite a drunk. He had lost several fingers on one of his hands in a farming accident as a youth, and that hand was basically a stump. At state dinners once he got drunk on vodka toasts he evidently loved to smear butter on his stump and use that to butter his bread. It supposedly seriously grossed out Barbara Bush LOL
Don't know if Yelstin played the market though...
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Registered User
Joined: 8/6/2007
Posts: 73
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""I am going to buy some stocks in this sector after the market break out from the bottom.""
Please let me know when start trading again...
Thanks
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Registered User
Joined: 3/21/2006
Posts: 4,308
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JT, I sure will tell you when I re-enter the Market. Keep in mind that my observations regarding the Stock Market are based solely on my opinions, and as Bustermu has made very clear, In his stylish and entertaining manner Opinions are like #*%$@&,***, and everyone has there own.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Jtchow, how many shares of SLB did you buy? Price is climbing on low volume and it has almost reached that resistance level we talked about. I am not telling you what to do, but I would start thinking about selling soon and taking the profits.
Give it a look and tell me what you think.
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Registered User
Joined: 8/6/2007
Posts: 73
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Thank you...
131, Sold 50% at 94.8 ...
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Registered User
Joined: 8/6/2007
Posts: 73
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Apsll,
I will sell rest next down day...
Thanks
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Registered User
Joined: 3/21/2006
Posts: 4,308
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You played this one very well JT. I would now put a hidden stop right below the low for today's candle to insure all profit..
Todays high made a new high in price and a high for MACD-H.
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