Saturday, July 31st, 2010

The Broadening Rising Wedge

Tuesday, November 17, 2009 at 9:05 am

78

The pattern in focus is the broadening rising wedge. The rally continues, but this is an intermediate-term consolidation pattern, one that may not have been clearly visible to most people.

I continue to see the lack of follow-through and so far, intra-day tests confirm it. Careful selection and money management play critical roles here.

spx6djia2comp3

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Comments

78 Responses to “The Broadening Rising Wedge”
  1. DannyCali says:

    TMI

  2. DannyCali says:

    NLST

  3. DannyCali says:

    SPPI

  4. Out $PARD 1.97. All cash until I get my criteria met

  5. kaputer says:

    VVUS 8.23 up on volume and no news, potential to 8.50, if breaks 8.50 then 9.50-10. Is that a cup with a handle on 1 min chart?

  6. DannyCali says:

    PLA is going down

  7. DannyCali says:

    NLST is down too

  8. white1h says:

    APOL if morning sell off finished
    school reacredited and now eligible for student aid
    bought 200 @ 57.76

  9. Sold final 1/3 $PARD 2.18

  10. white1h says:

    Stopped out of APOL
    cut my losses at 51.00
    tape seems to negative

  11. kiddjones says:

    POT

  12. DannyCali says:

    LVS break out

  13. Purdy says:

    ALKS at 8.94, 6

  14. last 1/4 $PARD sold 2.28/31

  15. mmk says:

    Hey CA, werent you asking about Detroit real estate recently? thought you’d appreciate this:

    The 80,300-seat Pontiac Silverdome and 130 acres of adjacent land just outside Detroit sold at auction for less than the price of some Manhattan studio apartments. A Toronto real estate firm submitted a winning bid of $583,000 for the big bubble and plans on sticking some soccer teams inside. Boo. We say go single-family mansion! Would amost be crazier than Palazzo Chupi.

  16. DannyCali says:

    good eyes, CA. I saw it when it’s 2.42

  17. Purdy says:

    A little AGO at25.94

  18. DannyCali says:

    LLBO

  19. kiddjones says:

    POT still trucking

  20. kiddjones says:

    CELG

  21. Gunners says:

    PARD has been great for daytrading today. scalped it twice already. thanks CA for mentioning it.

  22. DannyCali says:

    short NLST

  23. DannyCali says:

    nano break out

  24. Teahouse On The Tracks says:

    In IPI again @ $26.15 … swinging for test of old high

  25. out $PARD 2.43, too slow

    avg day

  26. Teahouse On The Tracks says:

    Looks like 4.65 will hold on MPEL .. adding here

  27. Purdy says:

    short AGO at 25.50

  28. Teahouse On The Tracks says:

    Thanks DRYS !!!

  29. kiddjones says:

    POT was smokin today…. and ended up HIGH

  30. kiddjones says:

    yo chart!

    whats your thoughts on the $RUT?

  31. kiddjones says:

    just saw this chart and looks like a good short. adding to watch list

    LINTA

    thoughtsanyone?

  32. Cash-N-Guns says:

    buying thousands of shares to trade for a few pennies…that strategy is about to get goat fucked..mark it down.

  33. Mike says:

    Don’t forget gents:

    Nov 18 10:30 AM Crude Inventories

    Set yourself an alarm!

    • Mike says:

      Triangle on /CL since about 9:00 this morning, if it holds (which it probably will with the current volume) the apex will coincide with the 10:30 announcement. In other words: HEADS UP

      • Mike says:

        Very suspicious of this breakout, I won’t enter until the announcement. Seems a bit premature to be insider info.

        Here we go..

  34. finclyde says:

    do any of you know of a good, free, real-time charting website?

  35. Florida Traders says:

    BKX on the move BOT some DEC 16 BAC calls .92 – target $18.50

  36. Bought some $EGLE 6.558

  37. DannyCali says:

    Can we short on NANO?

  38. Sold $EGLE 6.48 lol shit trade

  39. covered $ADKS $24 flat.

  40. Everything is too slow. Not a day I want to waste time on.

  41. Purdy says:

    short LDK at 7.76

  42. Purdy says:

    long NAT at 32.13

  43. Purdy says:

    short ADSK 23.93

  44. Slick says:

    long CGA @ 15

  45. DannyCali says:

    AENY break out

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