I hope you guys find it worthwhile. I am not trying to pump $EPAY (although I am long and I do like it here), so much as talk you through my thinking on ascending triangles and pennant formations in general.
UPDATE: What the $AAPL bulls are thinking tonight…
UPDATE #2: I am encouraged by the overall market action. I would like to see us move above 1210 tomorrow on the $SPX for me to really consider using my large cash position on the long side. I really like The Fly’s $AES buy today, and I believe that stock could have a nice run above the 50 day m.a.. Of course, if we fall below 1200 on a “sell the news” type of day, then I will look for swing trades on the short side–going long $SMN being at the top of my list because the $XLB materials have looked weak.
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Great Vid Chess– Thnx for taking the time to make and post these. I hope you continue to do so going forward.
Trade em well!
SteelerTrader78
Really good teaching vid– thx for your time and effort in sharing.
Thanks guys, you’re awesome.
Appreciate and enjoy your blogging. Please revisit the very long pennant action in Paragon Shipping (PRGN) and share your opinion.
Thanks!
Thanks for reading. I still like $PRGN a lot. I will look to reenter once it starts showing some momo out of that ever tightening pennant. It really does look good to go, but you know as well as I do that if the market sells off then the shipping stocks probably can’t rally. So, it is at the behest of the broad market for now.