In a thread started last sept I adviced that the real upside was in this equity and against majority opposition here we are.  Lets review briefly.

The initial thread was:

I still need to review the "bonanza bottom" but as I recall it's basically looking for volume spikes and anomalies in bottoming formations over time. Some of the examples I listed below may not be candidates...some may. Let me know. All of them have interesting volume and or other indicator patterns to me.

BBI stands out the most to me so far. Though I suspect this to be a short term bottom than most bonanza bottoms. I have to wonder if any downward price action from here should be viewed as an oportunity to get in and hitch a ride to $7.00 +?

Others may be
FLO
DSCM
MAIL
ONCW


I'd love to find I think five nice healthy bottoms for an intermediate hold this coming cycle (if it comes) and focus most of my short term trading on setups that resemble TGI around Late August when it came up on my simple approach scan. Not that it MUST have the TSV/MS moneystreammove at the same time but I think it helps and at least helps eleminate supurflous possibilities. The look of the moving averages here is ideal to my aproach. The HNC concept over slightly longer term moving averages and the position of the 20ma in relation to the 50 ma are ideal to the highest probabilities in my simple aproach

My RESPONSE was:

BBI?? Where do you see the future of BBI?
Netflix his bigger competitor already have DVD download on demand and with plans from only $4.99 per month.
How is BBI going to beat that? Even if BBI gets is download on demand service going soon - how is it going to compete with those prices.
Remember Netflix has no real estate to maintain. I can certainly see BBI much lower, just like MOVI is.
good luck 

Opposition came in all kind of forms as usual - You can review this thread here
http://www.worden.com/training/default.aspx?g=posts&t=25623

I went my way and I leveraged for jus about $6000 (LEAPs - 100 contracts OOJMW strike 17.5 expiring in JAN 2009) against 10,000 shrs at 18.41 and watch in dispear while seeping my tea and you guys concentraded on BBI and tinker a little more and chat it some more. 
I also shorted the stock twice in this period with stops slightly over resistant and once under way with a trailing of 10%.  Both time susscefully catching 75% of the swing. 
I will be unloading this coming week while the last fools come aboard.  I have to unload 20,000 shrs as a few more blocks were accumulated in between.
I will keep the put options until 3 month before expiration, and if the price of NFLX is still high enough I will sell the puts (naked) for what is left of its value.  If not no big deal as you can see - I take it as the cost of insurance, and it is worth is price in gold.

Where is BBI today?

You are correct Socrates.  It is called protective puts and married puts (those are 2 different things so).  I have tried in the past to pass knowledge and information on this, with no success.  Most folks here think of options as something that you need a PhD to exercise.
I have accepted that a loss is as possible as the fact that cold is the absense of heat, and so I learned to accept that.  I accept it up front, by insuring the position, and then I can careless what the MM or anyone else is up to.  My Risk / Reward has been accepted for a long time (hence long position for the longer term)

Second - yes my tools help me with the entry, swings, and exit.  The fundamentals provided solid backup for the reason.  
Understand that my main activity rest with the day trading, althought at times I carry as many as 3 or 4 positions with longer term frames I like to call my whale positions (on the side).  Those positions I like to think of as business investments so I treat them as.

Nicely done.. 

At the time BBI looked better to me for the reasons stated in the thread.  I never said i'm right all the time.  Lately I'm hardly ever right.  I haven't got a problem admitting it.  but you don't have to know what is going to happen in the future to make money.  The more I read about it it the more it seems that is when danger comes into play.. thining you KNOW what will happen.

At the time BBI looked like it could carryan upswing and I could buy more of BBI than NFLX  so had It moved  I would have potentialy gained more ..... you dind't know NFLX would make this move and neither did I.  I suspected a move and was wrong.. You suspected a move and were right.

You also have several years on me in terms of trading experience.  I'll get there.

Peace.

Scott.

jjames I also told you not long ago about GAP.  Is it my fault that you didn't get on the train.
When I told you about NFLX it was right too.  Most folks steered away.
What can I do about that?  I can tell you, but you have to make your decisions.  I am just coming back to it later in time to tell you about it.

Just to clarify.  If you think insurance is a waste, I suppose you don't insure your house, or you car right?
I think I have discuss in the pass the advantages of options over stop loss.  Dig the posts and find the information on that topic please.  As I said before, you will not make any money until you ACCEPT.

Scott take it easy, everyone has slippery patches.  
I had no intention to bring you into this topic or do any reference to you.  You happen to be the topic started for that thread, and I can't do anything about that, can I?
I am sure that you will come around if you try hard enough.  But as I said to you in the past, I think that a vacation and time away from the markets would do you good.

As I understand you live in Holland, MI.  I know a sweet spot down there - Grand Heaven.  Rent a place down there and take the family there for a couple of weeks or perhaps a month.  It is beatiful there, and soon it will be warmer.  It is not far away from Holland.

Take care.

I'm trying to put

I'm trying to put togeatehr somethign

I'm trying to put togeather something else ... that isn't as indicator specific, purely price and maybee volume. Quick 2-5 day trades to help me reach my main goal of taking 3-5 points a week out of the market.... Once I reach consistancy with that then I'll open up to a 2nd longer time frame strategy.

I personaly think the goal of achieving an average of 2-5 points a week is not unrealistic... but i've found it really difficult to maintain consistantly.  I'm not trying to beat any markets here... Just make money.

I would like to make it clear that I am responding to the inaccuracy of the first post and the claims within this thread as oppossed to the author as I have chosen not to engage in meaningless one sided debates with said person. In the refered to thread or link to said thread the author has mis-represented the thrust of the topic and even during the very thread itself was so misguided in his iterpretations if its intent that he was the enevatable cause of getting the thread locked.

The true and original thrust concerning BBI  back in late August and into September (I first noticed BBI in late August) was that it looked like it might be a good short term rally coming from a nice bottom. Scott and I were discussing this as someone interjected with the idea that NFLX was the better play for Fundimental reasons. Even after enlightening said person that we were only looking at a short term approach he continued his assault on our choice and proceeded to destroy an otherwise fine thread that started out with the inocent discussion about bonanza bottoms. The long term out come between BBI and NFLX was never even part of the original discussion on that thread, It was only coming from his assertions that did not concern us at the time. And by the way the short term rally was formed from the bottom of BBI and as far as all concerned back then (exept the very one that interupted and destroyed the thread) that was the end of it.

Jjames you are so right. This person is so wraped up in proving realtime results for others, but I guess that he is exempt. I love his quote to Sacron11 - "Everyone gets "lucky" once in a while that doesn't make anyone right, but will be costly to the fool".

Scott please stop ingratiating your self to this person you and I explained our stand on BBI back in the original thread so long ago and were proved to be right. His expaination of his "propietary indicators" on his charts to Realitycheck is like something out of a science fiction movie. As a matter of fact it is!! I saw and love that movie by Denzel Washington called - Deja Vu. 

This person always says that he does not have the time to go into any details about the construction of his science fiction indicators, but once said to me that he has all the time in the world to stain my threads with his poison. I challange this person to use his clairvoyant charts to pick a stock show us how the indicators picked the entry and then we can all see the follow through together. Is this not what he has asked of some here? 

Scott you do not need to take time off from the markets, you just need to learn how to focus on one approach and do what ever you can to make it work.

I just wanted to set the record straight and accurrate.

Apsll.

Scott, 
apsll has hit your real problem right on the head.  I've said it to you on more than one occasion; you put real money into one new technique after another...and before you have mastered them.  You are creating your own confusion.  Find one technique that fits your temperament and goals (assuming you clearly know your goals) and master it (someone will argue about changing markets and blah blah blah but to master a system is to understand all that; when to use it, when not to, how to modify for varying conditions, etc).  

When you have that one technique mastered, then begin with a second.  But (and I say this only for your sake), it seems like every week you've got something new you're trying.  There is no way to get them all down at once; especially when working with real money and live markets.  (The best traders make a nice living off people out there experimenting.)

That is why I differ with apsll on this one and say that you do indeed need a little time away from live trading.  Not a lot of time necessarily, just enough to clear your head.  

And apsll, we have agreed on most everything over the years but I have to say that you seem to fan the flame with BigBlock everytime we almost have it under control.  I offer BigBlock's tone in his last several posts as evidence that he is willing to be civil. 

I suggest you stop worrying about what everyone here thinks of you; you know what we all think of you and it's only good.  You don't need to defend yourself, let your trading speak for itself.  Frankly, nothing else anyone says is going to matter around here anyway, there are far too many very experienced and knowledgeable traders that can see what's what.  

Have enough respect for the rest of us to know that we can separate the forest from the trees.  When someone has something to say about you or anyone, I don't go jump off a cliff because my world has fallen apart, I look at you and see what kind of person you've been; then I look at the other person and see if there could be a misunderstanding and, if so, why.  Then, if I can do something definitive and substantive to help, fine, if not, I mind my own business knowing that, sometimes, people will think what they will and no amount of my words are going to change it.  

I suggest you take a deep breath, accept BigBlock for who he is and go about your trading (and life).  Life's too short.  You guys rub each other the wrong way so just quit rubbing.  

Offered only as a friendly suggestion,
tobydad

Bigblock just to give you one to work with until I purchase and work with @@@@@@ here is a ticker that (IMO) Is a good VSA candidate - NHWK

Put your charts to work on this one. I expect a turn soon.

Well that is a bad looking chart to go long, but ... lets say what the system has to say.
I agree that it is oversold in 3 time frames daily, 3 and 13 days, that is a positive but....

It is really too bad you choose not to short - you could be sitting on big pile of cash on this one.
Anyways, here it goes - I am just going to post the trigger chart, which is the one that gives signals.
Righ now this is a wide open short with no prospects of turning as clearly seem below.

That is a good system...I like it...and it delivers exceptional returns in a volitile market....Its been a while since i have posted...Im kind of off and on with the service since 2000 when i was baptised with fire learning how to trade...my name was Aksportsman for the longest time...Hows life treating you BB...sounds like you have some critics latley

Tobydad, as you know MP and I have been looking at the theory of VSA, and I have been successfull so far in predicting turn arounds due to signs of accumulation based on the VSA theory. These turn arounds are not immediate of course so you have to watch for them. Just the fact that the accumulation pattern is prevelant is a good enough warning sign for me to feel confident of the eventual turn. Now it can be a one, two, three day rally or longer. I also need one more factor to seal the deal. There has to be strong Institutional involvlement.

In my first chart you will simply see an example of the VSA theory. When there is a volume spike that is at least twice the norm, some will say that smart money is involved one way or the other. VSA says that smart money is always looking for new ways to hide their accumulation action. since it is impossible to hide the Volume action then they are left with the price action, and what better way to hide your buying then when the weak hands are selling in a downtrend. If you look at where price closes in a given trading session or bar then you can get a clue as to the type of acction that was taking place. If price closes close to its low for the day then one can assume that there was more selling than buying. and when price closses closer to the high for the session or bar then you can assume that there was more buying action taking place. If price closses in the middle of the bar then this can mean that both buying and selling were taking place. Now the part that most might not understand is that if price closes lower than the close of the previous session then the price bar and the volume bar will be red, and then we are programed to think bad thoughts like there can only be distribution going on not accumulation. These preconcieved thoughts are untrue and you must un-learn what you have learned about this. If price is in  down trend and you see some unusualy high volume spikes (RED) and the price bar was also long and the close was cose to the high for the day,(even though price closed lower than yesterday), or even just slightly above the center, then you can believe that smart money was accumulating shares that day. Remember they do not want price to rise as they are accumulating and they also want bargan prices.

I will look for these volume (RED) spikes and then wait for the bounce. Now Bigblock you say that the bounce theory that I did design and VSA that I did not design are a waste of time but I am making money from both and on a steady pace as well, now there has to be something to that. No one is that lucky. You will see that within a week or so maybe less NHWK will bounce and I will be there to take even a small profit.

Bigblock you said that you wish that you had someone like you to tell you the truth of the markets and how they move, well lay it on me brother
Aspll

That was a long long time ago my friend.  I no longer need anyone to tell me anything about the markets.  Certainly not you and certainly I need noone to show me your mistakes - they are clear.
What you claim is institutuional selling you don't know for sure - do you?  Could it be a single client trying to unload huge blocks?  Could the market maker group orders and execute them as bigger aggregates to increase his commision in time, while providing better pricing at the bid or ask?  Could it be the market maker himself just trying to create a market?  Remember the market maker has more leverage than the institutions themselves.

I mentioned in a different post that: Some folks over here seem to think that they can follow smart money by looking at a volume bar.   Besides the fact that all you can read in a volume bar is an assumption on the reason.  Those who are not assuming know the real fact, and those who know the real fact are not reading the volume they are making the volume.  Think about it.

Anyways when my system issues a buy signal I will let you know.

In the main time why don't you please provide the signals of your system.  Or is it just tinkering all you do?

Take care

That is a good system...I like it...and it delivers exceptional returns in a volitile market....Its been a while since i have posted...Im kind of off and on with the service since 2000 when i was baptised with fire learning how to trade...my name was Aksportsman for the longest time...Hows life treating you BB...sounds like you have some critics latley

Akqj10 - Aksportsman nice to see you.  I just run across Petry a couple of days ago.  That is 3 old timers in the board.  may be we can show these new boys how it is done.
Stick around my friend, it is just about to get interesting here if this guy Apsll give us something real to work with (signals).

Take care.

Scott is correct, you do not even read the post before you concoct your rable. You have missed every point that I mentioned. How can someone carry an intelligent dialog with you?

First off it is Apsll not Aspll unless it is intentional then you are one dyslexic @@@@@@.

Second, I stated the term "Accumulation" and not institutional selling...

Third I have stated repeatedly that my buy signal is found in the stockastic and price action not in the volume. I am scaning for volume like one would for smoke, because where there is smoke, fire usually appears at some point (not right away).

"That was a long long time ago my friend.  I no longer need anyone to tell me anything about the markets.  Certainly not you" 

This statement is coming out of left field and I do not even know what the catalyst was that sparked it? It is becoming clear that you are just not someone that I cannot comunicate with. I think that you like to talk but it is clear that you listen very little (a wise old owl you are not). I also was in the process of ordering your product when it accured to me that it might not be a good idea for someone like you to have my address and other personal information. 

You are by-polar I think, one moment you appear lucid and approachable, and the next you are a rambling idiot. My original plan was to ignor you, until you mis-represented my intentions from a previous thread and I felt the need to respond. Can you please do me a favor and the next time you have a lucid moment can you right yourself a note to not mention anything about me or my systems or my previous threads or how you were right and I was wrong. You scare me. I am going to try my hardest to stick with my plan to ignor you...