In case you don’t know what this is about, read Fly’s post first: http://www.ibankcoin.com/flyblog/index.php/2009/06/17/chart-chomping-101-hosted-by-the-fly/
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—————————————–[THE DAILY POST]—————————————–
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The Emperor of Mankind – Guardian of the Imperium, Lord of Terra, Aeternus Eternus
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The current 1-day box on the SPX is located between 905-925/930 as it can be seen on the 1-mo/20-min chart + 1 blank day. Immediately underneath is the 3-mo/60-min chart where you can see the intermediate-term support and resistance areas.
The 8-mo/daily chart is what gives me pause. I have given enough blank days for the next 1.5 months. The key areas to focus on are 875 and 925 and everything in between. The early June flag failed, therefore, I have to give significant weight to the downside. I don’t see a free fall occurring, but I do see an initial test of 875. The chart assumes that the market will complete a “head & shoulders pattern” by the beginning of July.
I wrote that it “could get complicated. This simply means that I expect a significant amount of whipsaw. Therefore, I do not plan on making too many swing trades, but rather day trade until I see a setup form. Why am I not short yet? I am waiting for a lower high to form (if it forms).
The following sectors are under significant stress: materials (XLB), consumer discretionary (XLY) and staples (XLP), industrials (XLI), financials (XLF), and energy (XLE). Health care (XLV) is neutral and the utilities (XLU) and technology (XLK) are still in up trends.
Does this mean there are no more long plays? Absolutely not. I think it is time to mix in longs with shorts while keeping a large cash position for any swing plays.
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THIS IS BULLSHIT.
Those are some serious chart skillz you got going on there. I think the fly is really a secret in the closet chart chomper.
Joey
CA, what is the pizza going to do to the Doritos?
Could you put Doritos onto a pizza, in this situation?
Please help.
Your answer [modified from Fly’s 2nd para]:
“Notice how the circle and “dorito-like” triangles are fucking with each other. It’s almost as if the triangles are laughing at the pathetic circle for being a pussy.”
BEHOLD: Doritos Pizza!
BEHOLD, part 2: Dorito Pizza?
Thanks DPeezy!
looks like we may be headed for the bottom of the first dorito.
I do what I can, ‘shroomz. Speaking of which…the neighbors have started their nightly puff-puff-give. They’re very bad at concealing their smoke.
Combine that with this post and I’m ready for some late night snacking. Damn it, TCA!
hahahahhahaha
lol
Amazing. Seems the burger bottoms are shooting a “Dorito load” right onto the bull’s pizza pie top.
Some of your best work, CA, without doubt.
CA: In text did you mean complete by the beginning or *end* of July? That would be some whopping whipping to complete RS+neckline (dn-up-dn) by the first of July. Could happen, though, given a series of bipolar catalysts.
ACAS killed overnight. Easiest trade ever (puts from yesterday).
In retrospect, ACAS was an epic trade – a 2.70 stock that declared a 1.07 dividend.
May never happen again but I’ll be printing this chart and planning for another just in case we EVER get so lucky.
Buy at the announcement, sell 50% at weakness and begin building a short position with OTM near-dated (cheap) puts.
Continue to dump into strength and continue adding puts.
Wait for ex-dividend date, sell puts, buy Maserati (the entire company, not the car).
My advice for today: look for gold stocks breaking their downtrendline and buy with both your arms and legs! Could turn out to be a nice phat swing trade.
I own:
NGD GSS RGLD
Closely watching:
JAG HMY KGC DROOY NXG
PG.TO and RCM.TO
ATSG is set to go
INSM!
PPHM back in .83
Sold SIRI 0.3957
AXL?
TRID looking less bad – might be a quick scalp
TLB (POS is I believe the term of art here) may be in a short squeeze. Can someone with a bit more brains help me on this one? I picked some up but I’ve a hair trigger – don’t want to give back what I made on this last month.
Tranparency; TLB – in at 5.94, volume looks to be massive, there’s a 30% float
really enjoying trading in and out of CENX with quick stops…makes some nice moves…
PPHM stop at BE.
ES trying for 3rd SPX push at 920 in ES@915
NPSP looks poised for a takeoff
OSK.TO!
Also, ANPI on the move. Beautiful chart pattern.
NPSP – GREAT
TLB heading outta here – maybe it’s best I don’t really get it.
ES
Out @ 913 – dorito fakeout
Picked up NPSP @ 4.50
Stop loss is $4.39
There is a common theme of “OMG inflation!” it will not be long until inflation hits hard, giving the fed an excuse to hike rates and start taking houses and all that.
Bought APPY $2.14 day/swing
ES 912 long
Bought NPSP $5.13
Bought ATSG $2.20
Correction: NPSP = NPBC
ES – Failed BTFO – 5 minute wedge – out 913
Sold ATSG $2.32
Sold APPY $2.41
TSTR 1.14
EGMI b/o
In TSTR since 6/16 (.90’s) – posted in PPT under GSAT – Fly watching as well.
Satellite launches July 1
I got in TSTR at 1.14 as well retox, so much for that trade, eh?…
Looking at GLG as a swing set-up…
Mike, no, I’m still in. Staying.
Hey CA,
What do you think of DRYS as a long-term play. Looking at the daily, it looks like there’s been quite a bit of volume moving into it over the past few months and you gotta think, if the economy picks back up, shipping will pick back up, especially for commodities. It may take awhile, but it’s currently at $6+ after coming down from a high in the 100s. Even if it makes it back up to $12 over the next couple years, that’s 100% which ain’t bad. I know it’s not typically your style to invest, but if you have any advice, I’d greatly appreciate it.
Also THC attractive around these levels.
Bought ALVR $4.17
Oh I’m still in too retox, just saying that the breakout fizzled out awfully fast
DRYS – ehh…I don’t know. No opinion. You can experiment with an initial position, and go from there.
True. Thanks.
CA, how does MDW look to you on the daily timeframe?
Sold ALVR $4.23
I can’t post daytrades. I can’t focus on my game.
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MDW – neutral. No opinion.
not great but ZQK, maybe a dead cat coming
Mike,
TSTR will move before the launch.
You must have a strong stomach for satellite stocks. Delays, gliches, etc. will cause BIG hits (I have no stops). I’m in at .96 avg at this point and would not mind a nice drop to add more lower. At some point, it will be ready to launch (the bird & the stock).
I’ll take a chunk off if it gets to the 1.30’s.
Regardless, I’ll take almost all off before the launch, the rest maybe right before the satellite checks. If the bird is bad, in any way, watch out!
Not sure if the Ariane 5 is still about 15% failure rate?
Missed the earliest part of the TLB pop, and missed the top when I got greedy – ended up with only 6% of what would’ve been a really nice gain when I was “saved” by my trailing stop.
Anyway to tell how high a short squeeze can go or last? Still not sure this is/was one.
In DZZ at 21.09 to hedge my gold mining stocks. Looks to be a trend break to me.
I wish it was that easy, Bill.
Juice – yes, probable.
CA – I knew that. Back to playing with my etcha scetch
ISTA acting REALLY nicely.
FDA application review is next Friday. Should see at least one more push before then.
ES forming ascending triangle on 1 minute.
Another run at 920 SPX?
Bought APPY $2.3899 – day
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Market remains in the 905-925/930 box.
DRYS : the shippers built a lot of ships and ran up debt during the boom years. China restocked for a minute, but they filled their warehouses now. so BDI is again down, especially 1 year forward rates. which is to say a year from now it will be very cheap to rent a ship, because there are simply too many of them. you can trade them up and down, but they want to stay down.
CLDX..good volume, like the chart pattern.
ES mini-BTFO + 2 points on the asc. tri.
No volume conf.
ES out 917 + 3
TSTR just cleared 1.16 resistance. OH YEAH!
EGMI – THANK YOU CA!!!!!!!
I love this place!
Too many freeloading auto-refreshers on this blog.
Nice bump going in CHP retox – volume is ehhh but picking up. The only one of the picks from last pm doing much.
Dr. Sparks,
I didn’t even notice. So hard to follow it all… THX
EGMI – GO GO GO
It’s as if you are walking around handing out foot-long sub sandwiches to homeless people.
Five
Five
Five
Dollar Foot-100,000,000ng$.
watching AMLN, ATRC, BFRM, BGP, EVVV.
what do you think about these?
SYNM– could run here,watch if volume picks up.
CNBC..is banned in my office going forward..stupid fat sloppy skanks, and gay retarded guests babbling like a crack whore at 4am
Cramer attempting to teach technical analysis: http://www.cnbc.com/id/15840232?video=1155069482&play=1
CA – What’s your target on EGMI and NPSP?
retox – Excuse my ignorance but what the heck is ES? It can’t be Energysolutions.
My contribution: I’ve lost $120K this year in SRS calls…thanks to the Chinese Wall.
Dare I say we are building a big fat all-day-long rising wedge on the SPX??
It fits CA’s box…
Keith-
AMLN – good
ARTC and BFRM – illiquid as hell
BGP – possible dip buy
EVVV – possible swing long
ES is an E-Mini futures contract on the S&P 500.
Each point is worth $50 per contract traded ($12.50 per 1/4 point). Highly liquid, trades 23/5.
You buy it on margin (most brokers require about $5-$6k) per contract. Each contract is a basket worth about $17k S&P 500.
JUST BE CAREFUL $5k margin is not enough IMO. This can blow out your account in short order.
EGMI initial target – $1.50, based on resistance going back to 5-year chart.
NPSP initial target – $4.85-4.90, March resistance
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ES is the s&p futures traded on the GLOBEX.
ES filled short at 916 – we’ll see.
Might be too close to 3 to trust the pattern
WRES?
SYNM- starting to move,
CLDX..thank me later..
CHP popping now retox – volume doesn’t seem that heavy considering the 8% bump. I caught the whole move but I’ve got a stop on it to preserve my gains in this chop.
ZIGO looking like a promising BTFO candidate. Note the huge recent capitulation day.
CnG – you can leverage that CLDX by playing CRGN riding their coattails .
Dr. Sparks,
AWESOME – Thanks for reminding me of this one. So many break-outs, so little time!!!
TRID btfo!
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Pati – looks ‘ok’ on the daily. tight leash though.
I bought AMLN yesterday. Its a sweet set up for a swing trade, but the fundamentals are hard to ignore too. This stock is atleast a double in a year.
TSTR – 1.26
Did you say TRID?
nobody here buy RIMM for earnings?
That’s more like it retox 🙂 (TSTR)
Now if only NPSP and VICL would get the memo
TRID = TSTR…LOL
I have over 60 charts/tickers up. I get confused sometimes. Happened twice today.
ES short oh, yes.
What a day!!!
TRID?
Employee8-yes u are correct..i already own some CRGN.
60 charts – no shit man, driving myself crazy.
Arth,
Read your post and looked up some stuff about BDI. Pretty interesting stuff. For the following link, I assume BALDRY is the actual price of the contracts?
http://www.wikinvest.com/stock/Baltic_Dry_Index_-_BDI_(BALDRY)
And if so, looks like its starting to run a bit, no? Hard to believe the cost for shipping varies like this, but it makes sense.
Someone mentioned NPSP – it looks great.
ES looking for 912.50
NPSP showing signs of life.
ES – got it – 912.50 – out of ES for the day. Let the fuckery begin. +3.5
Not gonna be greedy.
OMFG – just realized I called that ES wedge 1 minute before it broke.
Another free footlong.
And glad I got out there!!
I have to wait near end of day for swing adds.
Thoughts on SLW?
Indices might be up but this just feels like the bears are still in control.
That is one tight range.
HEB added to watch – will break soon – probably down (ha!).
CA- What are your thoughts on CNXT? I know you sold it during the pullback, but it still looks intriguing, no?
I mentioned NPSP 🙂
Hope it makes people some money. I am in at 4.50
SLW looks like shit.
HEB and CNXT look ‘ok’.
Canuck,
I jumped in on it earlier in the day at $4.49 with you. it looks like a breakout can happen any second. might not happen today though.
somx – daily breaking out?
I had some money in SLW.TO but I got out with a measly 2% profit but avoided some serious losses.
INSM making a second run?
SOMX – very interesting. On watch.
WAY to quiet into 3pm.
GS monster sneaking up on you.
Stepping out of pennyland for a moment…looking at a nice setup on KCI (if volume steps in).
lol…tscm forming a flag on the 10 mins chart
FLEX HOD
OPXT potential squeeze
LEI daily??
dtrader…hahahahahahahahahahahahaahahaha..wow lets just buy toilet paper and pretend its a stock..go pump somewhere else fucktard
dtrader..whoops wrong symbol..sorry laddie..looks ok
IMGN doing an offering of 5M @ $7…
So solly, guess this is old news.
Currently long FLEX, MTL ALVR Come on already!!! GOOOOO!
CALP daily looks good
CA – What do you think about YRCW on the daily chart? Anybody stumble over this one today?
Jazz – LEI daily…’maybe’.
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I currently have NPBC and APPY (5% each). They will be swings into tomorrow. As for other adds, I’m not sure if I want to raise the sperm count in the portfolio. I am looking at TVL, NPSP, and CRGN as possible swings.
lol @ cash – no worries
Got it off PPT actually
HUGE hammer with HUGE vol on YRCW. I’ll have to think about that one.
lol cash.. 🙂
CAST added to watch list for a breakout/breakdown depending on what happens
APPY halted?
INSM showing promise too; AIMC for a short perhaps (once it fades)
EDGR–won’t run up big but Steady Eddy.
YRCW is like whoa…
Downgrade to underperform – $3 today.
APPY not halted:
http://www.nasdaqtrader.com/Trader.aspx?id=TradeHalts
Added TPX long swing
ES is such a temptress – short again
CA – What’s yer take on FCEL (they do have an offering tomorrow I think @ $3.59)
TPX Bingo!
MPEL?
CNBC says YRCW BK imminent
Stopped on ES short at BE
YRCW – underperform until they get those tarp funds they applied for …
Out of half TSTR at 1.32
Not buying anything
Been a pleasure gentlemen. No big hits for me today, but holding all 4 mentioned into tomorrow.
Best to you all!
Splendid gains.
CA – At what price do you plan to sell APPY?
I thinkg EGO has an easy 10% in it (from 8.04) over the next week….possibly more if the banks start dropping.
Also, thanks CA and Retox for clarifying ES….along with all your recommendations.
Mike.
Ahh, nice job!
90% Cash/10% Long (APPY, NPBC)
+1.3% today.
Thanks retox, it was a pleasure. Congrats on those ‘splendid gains’
I am pretty sure that I will be entering the weekend with 60-70% cash.
Anyone get their hands on a share of GXP-F? One woulda done the job, haha
lol, wtf GXP-PF? Hope you weren’t short!
In RIMM at 71.48. Why not.
a hello the the lizard.
My lizard flapping his dewlap today:
Getting ready: http://i587.photobucket.com/albums/ss311/chartaddict1/DSCN0651.jpg
NOW!: http://i587.photobucket.com/albums/ss311/chartaddict1/DSCN0652.jpg
My lizard flapping his dewlap
That doesn’t sound quite right. Keep it in your pants, big boy!
Cool lizard man. Chick magnet!
Here is my TA on the ES today – I did not take trade #5 cause I don’t like playing with robots.
The labels are a little off cause that’s the way Think or Swim sucks.
http://s699.photobucket.com/albums/vv352/retox13/?action=view¤t=Untitled-1.jpg
I made over 8 points but any and all criticism is welcomed.
OH SHIT…
HEB did break out – missed that one – damn, I just can’t keep up with them all.
retox – that was a while ago brotha.
The lizard is not a chick magnet. If I wanted a chick magnet, I would have gotten a dog, but I don’t have the time to care for one.
chick or dog?
both
CA…you need a nice woman like Louis Yamata..common interests….
difference between chick and dog..if you feed them both a dog wont bite you in the hand
Who is Louis Yamata?
Also, a dog will never argue with you.
Louise bites … not her TA though!
http://www.lyadvisors.com/
masterpain – you spelled her first AND last name wrong. No wonder I couldn’t find her.
sorry bro