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Worden Discussion Forum » General Discussions » Stock and Market Talk » CAAS The Next Step

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Apsll
Posted : Wednesday, March 24, 2010 9:04:38 AM

Registered User
Joined: 3/21/2006
Posts: 4,308
 This one looks pretty good right here above $21.30

I have been studying the works of Dan Zanger and a few others lately. Adding there knowledge to my tool bag has helped find some good charts. I like CAAS for its price action and volume profile. 
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rstarnes
Posted : Wednesday, March 24, 2010 12:16:38 PM
Registered User
Joined: 4/5/2009
Posts: 16
 ApsII
This one looks pretty good right here above $21.30

May I ask how you determined an entry of $21.30? 
I see the chart and would buy at the 19.57 level bouncing off bottom with a thought of resistance around 22.5-23 at top of bull flag, and keep a tight stop in case it did turn.
Or are you looking at getting a confirmation then looking at the high at the top of the chart 25-26?

And I'm going to google zanger. And just started to read about DeMark after the recent post.

Thanks for your help.
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Apsll
Posted : Wednesday, March 24, 2010 1:17:07 PM

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Joined: 3/21/2006
Posts: 4,308

How are you Rstarnes?

Yes you may ask. I like to buy a stock as it is going up in price. So when I see a nice trading pattern (Bullish Flag) then my next step is to make sure that I have as much energy on my side as I can. 

I like the volume patterns
my cycle indicator is showing me that price is still relatively low in its range and climbing. 
The momentum indicator is turning around as well.
The markets are trending

of course there is no guarantee of success but it is all about timing. 

My plan is to keep my stop below yesterdays low. I already sold half my position when price hit the resistance and was denied. I am following along with methods used by those that I have been studying as of late. 

It has taken me 10 years to build a sizable trading portfolio and my plan is to take things to the next level by studying those that have already done so.
 
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rstarnes
Posted : Thursday, March 25, 2010 9:16:52 AM
Registered User
Joined: 4/5/2009
Posts: 16
 ApsII
Thank you for the explanation and thought process. I learned much.
And from what I saw on cnbc stremaing caas is moving. Congratualtion.
"A rising tide raises all boats (in the water)" so thanks
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