For you chart experts out there, I’ve had success with certain patterns on weekly charts over the years. These patterns have market epic lows on massive reversals that have played out over monthly time frames. These patterns gave us great trade locations in AA, BIDU, LULU, FSLR, KORS, X, etc.
These same patterns have been displayed in the momo-crowd now for multiple weeks. This is why I like them here…to name a few.
To say I have no good reason for liking a particular trade is stupid. Of course I have reasons for liking a trade. None of these patterns have confirmed, but they’re near the apex of these ranges. As for the advice to short these stocks into the hole, most of these stocks are where they were at the time of my comment about avoiding the short. With the NQ and TF not taking out lows yesterday whilst old man stocks got drilled, there’s a compelling divergence setting up here.
Anyway, I needed something to write to detonate that last blog post of mine. If I missed a question, re-post. I can’t wade through the onslaught of shit to find the normal daily value.
What do you like here?
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
GLD at resistance so I’m leaning towards it declining further.
http://3.bp.blogspot.com/-v7TqkDKIJhE/VInHVFQAmXI/AAAAAAAAAd4/p72aswxVXQk/s1600/gld.jpg
I like FEYE and FMI here.
list from yesterday:
http://finviz.com/screener.ashx?v=211&t=PCRX,WDAY,FMC,LNKD,LGND,YELP,SCTY,TRLA,Z,OSK,PCH,FEYE,COH,SGNT,FLDM,FMI
Thanks for these.
Sure thing, chief… laughing at the jpeg names
CSIQ
Long a bunch of CLDX. What do you think Jeff?
She purdy.
Damn those charts all look awesome. I love FEYE
Yeah I think FEYE looks the best but that damn stock has burned me so many times.
Thanks bro; I’d feel better when the Russell breaks above 118 with authority
OA, any thoughts on VEEV?
A little lower, but on my radar as well.
I would be very cautious given recent days history. I’ve had very good success play Biotech breakouts. Not my preferred strategy but I’m taking what’s given. PTCT and XON for example.
I’m liking the IWM short here down to 1170…simply because I know they are trying to screw everyone this week. I don’t think we rip either way until next week.
Anyone know what’s up with GPRO today I didn’t see any news on it
yeh, its broken
Re-post:
Jeff, could I get your take on a couple charts? I’m holding HIMX Dec 7’s and FLTX Dec 35’s from a couple weeks ago. I was aiming for HIMX to tag 10+ and FLTX for 39 – 40. The charts still look great… just starting to wonder about the time based targets. Think I should just use the time up, or start looking for more time now to see what they can do on a real Market breakout?
Love HIMX here, I could roll that into Jan. As for FLTX, I might book that based on the time element.
Thanks Jeff, I was contemplating taking delivery of HIMX as another option also… Just trying to hold on to what’s working as long as I can.
i LOVE RSX here
before you RUSH IN, you might want to PUT IN some more thought, SOv you can avoid the CRIMEa of having your investments go COLD and your financial Berlin wall comes tumbling down.
how is this different then trying to catch a falling knife?
You mean like commodities?
These charts above?
Must be talking bout RSX
BABA– my biggest play. P looks good, considering if it can hold here. LULU I have nice profits, thinking about taking them this afternoon.
OA – I’m outside on my pipe break, and pulled up the PPT. My favorite screen shows ECPG with a similar pattern, and 32% short interest….
Solano Aged Burley Flake btw – no mota
I like the monthly chart, as well as the recent rejected move lower. From failed moves come fast moves.
I’d like to see which screen this is in PPT Buccs when you get the chance.
Trent – hope this works. Sometimes I sort by industry look where the interest might be.. http://ppt.ibankcoin.com/screener.php?reset=false&exclude_etfs=on&fields_to_screen_for%5B%5D=accumulation_distribution|asset_scores_overview&accumulation_distribution=o3&fields_to_screen_for[]=industry_id|asset_profile&industry_id=Any&fields_to_screen_for[]=shares_float|asset_profile&shares_float=Any&fields_to_screen_for[]=short_as_perc_float|asset_profile&short_as_perc_float=o10&order_by=asset_profile|short_as_perc_float_desc
That didn’t work. Just saved inside the PPT as “Unc’s Favorite Screen”
Been in and out of RDNT playing small ball. Thinking it might be time to get back in and let it cook for awhile.
whatever you do do not get caught on the wrong side of this range when it breaks. It’s going to be epic, there will be some big money to be made….IWM
Old man question here: for long term “forever” holds, what do you think of FCX and WMB?
Natural gas prices will go up steadily or stabilize. Great dividend.
FCX won’t cut its dividend, and most of its sales are in copper, which continues to have high demand.
I like FCX bought bought too early.
the ability to be nimble is a luxury we have over large funds make sure you use it.
thanks chief, amazing insight there
your welcome Rags.
Any thoughts on YNDX?
Interesting call side activity.
Anyone know what’s driving SGMO momo?
ARWR getting interesting …
stop tweeting my mom, bro
lol
Is there a leveraged inverse troll index?
$DAZZ
It should IPO soon under the ticker $DICK.
$TARD
I thought it was $JDST
short NQ 4291.25 (daytrade)
the falling wedge is an advanced pattern, IMO, get a few under your belt to understand the quirks because its worth the cost of the education
Sold last 1/2 UGAZ. First 1/2 +6% second -6% Broker wins.
That always seems to be the case.
Im buying AA, SUNE, WWAV,CMRE, SBAC, DLPH. .
Equity markets are ignoring the ever-falling price of oil here, energy stocks included. If we break $60 on crude and stay down it’s lights out for stocks.
Really? Stocks have absorbed nearly a 50% decline in oil pretty well.
I mean it doesn’t seem like the indices have really flinched despite the massive decline. A lot of energy stocks are way down, but some aren’t. I think there is the potential for calamity here if we start diving below $60.
What I mean is yes, indices have held up…therefore I think the probability of a catchup move in stocks is more likely than if they’d already been down. Equities have notably decoupled from high yield debt and this cannot continue.
baba double inside bar
And NFLX and BAC and….
Out 1/2 NQ +10. Interesting spot here bulls need to hold on.
Our old girl ANGI is looking good to me again too… Little false breakdown and then rallied 7% to celebrate Mr. Kohler’s birthday. Now coiling up really nicely above the lows with a nice long term falling wedge.