| coubo |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Tuesday, December 21, 2004 |
| Tuesday, September 25, 2012 4:45:56 PM |
26
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couple trade set ups for next week
test
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Not enough time for pics tonight but I like:
SFI
RTIX- on a pullback area 3.7-3.5
GIGM - watching only, Still in down channel.looks like its starting to show a heartbeat.
RXii - posted by fpetry
MDZ, TVL - two of APSll bottom beauties
i'm still holding
crxl and mpel
also shorted SP500 thru SDS.....just a flier on being up 7 in a row.
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Apsll.....i got home a little early today and am looking at SNV.....it looks ugly as a long...are you thinking to buy near 2.40 or just watch price action for a while?
Also MPEL has formed a flag on the hourly charts so i should know soon whether to protect my profits or buy more.
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To be honest i have traded off and on for about ten years. I am posting now because I really want to find out if trading can become a significant source of income for me. Now in my mid forties I want to control my own finances. Going it alone tends to lead me into lazy habits like making cool scans and watchlists but never acting on them to get the pay off. So by posting and staying engaged hopfully i'll pick up things, and maybe form a small support group to collaborate with. Presently I work during trading hours. So I scan and research from Fri-Sun and then act on trade plans during the week.
I have accounts at Thinkorswim and interactivebrokers and can trade by web phone during the day but cannot watch live charts. In a way it is actually helping me so far not watching live charts because it keeps me to my thought out plans and avoids the impulsivenes to "make a trade".
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Here are update charts to MPEL and SFI. I own MPEL and SFI not yet. MPEL actually looks to be at a good buy point right now.
CRXL found its way onto my radar when i was just flicking thru charts and my interest peaked by the predictable and symmetric look of its downtrend. Applying my best amatuer EW analysis. I felt the fifth wave was just about done and bought some 10 days ago at 19.24. If it can break the trend line and pull back it may be a buy again. Volume is not enthusiastic yet, however.
Apsll.....i understand what you said about the low volume flush out bottoming period. I am not yet in your class when it comes to patience of waiting out long bottoms. I am however trying to put more of those types into a watchlist and KEEP WATCHING IT.....i have a very bad habit of creating tons of list and then never revisiting them due to work, time, life....etc etc.
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Apsll.....when you get some time explain further the statement " double bottom and all that volume put in building it has not been resolved yet" What are you looking for?
johnlc....you are probably right about the brass on buying that pullback, this thing is a bucking bronco right now and i have felt the nut cracker already before.
P.S.... this stock has huge short interest to ignite a breakout.
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This is probably less risky as a breakout play above $4.30, but may also consider a half position upon a fill of the recent gap, the 20sma, or the last swing high depending on the look of the pullback. I like the increasing volume on the last three up moves and lack of panic selling on some decent sized drops. It is also knocking for the 3rd/4th time at long term resistance and is hanging around the highs this time.
Some negatives are the volatility of this stock, the fact that it is in financial Credit Services and the market has been going up on very light volume and could still be in a medium term downtrend.
Watchlist material for now!
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Starting a new thread to post some of my ideas and see how they stand up to the rigor of scrutiny.
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Think I found the reason MPEL is seeing interest.
FEB. 23 - Seeking Alpha
Implied Volatility Movers
Melco Crown Entertainment (MPEL) is seeing relative strength and active call buying on takeover chatter Tuesday. Wynn Resorts (WYNN) is mentioned as a possible bidder. Shares are up and 5,200 calls traded, or about 18X the expected volume for the first two hours of trading. Mar 5, Apr 5, and Apr 7.5 calls are the most actives and, with about three-quarters trading at the asking price, it seems that buyers are dominating the action. In addition, implied volatility is up about 15 percent to roughly 100.
I'm not really into buying take over speculation because it seems the odds are low it actually happens. I will hold my small postion for now. Even if it pops it will definitely stop short of $5.00 to screw the option players at that level. My plan will be to sell at about $4.60 without an actual buy out offer and see how the retrace back to the break out area looks. On the downside, it already triple bottomed so it shouldn't go below $3.70 again.
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ApsII,
I have never really considered such a long term divergence on weekly charts in the way you describe. I do look at shorter term divergences like this stock does have. My target is actually the 4.60-4.80 level. I see your point and will study some charts to see if it helps me get into stronger stocks even for shorter term trades.
Thanks,
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