MGM MIRAGE [[MGM]] looks good to go here:
Joined Jan 27, 2008
7,406 Blog Posts
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So many breakouts.
DRYS, RDN, & SQM 4TW
CNO
in at $5.31 – looks good
easy stop below the 50 day…
exactly.
Way to get in before the spike. I’ll probably be taking half my position off the table north of $11.50, provided we get there, and looking to re-enter on the next pullback.
What are your targets?
a measured move puts this thing around $16.
Thanks for the input. I’ll trust you and up my sell target considerably then.
I will not stay around for $16, to short term in trading. A good short term target 12.15, 14.25, then 16
PMI
SRZ
Nice! I was watching that too.
ARUN looks nice!
RC, you still like AHD here?? having problems moving higher it seems.
yes, but may exit AHD soon, looks broken.
FEED again.
I am having to much fun this new year.
More good news for Chuck’s IBGH (hopefully the start of something big):
HOUSTON and PENSACOLA, Fla., Jan. 7 /PRNewswire-FirstCall/ — Innovative Beverage Group Holdings, Inc. (IBGH) announced that mega convenience store chain, Circle K, will be selling its extreme relaxation™ beverage, drank™ in stores across Alabama, Louisiana, Mississippi, Tennessee and in the Florida panhandle.
For more than 50 years, Circle K has been one of North America’s most popular and successful convenience stores operators. Today, there are more than 3,000 Circle K stores across the USA and over 4,000 international locations.
PCBC!!!!!
Great alert, thanks. I’m in at 1.08. This thing ,ay run to the 100 day MA at 1.59
thinking the same.
Fantastic play! Thanks RC
So many good plays going. I just closed 3 today and opened 2 more.
CNXT!!!
looks just like the CNO chart
My Favs!
BEE is just smoking
No more buying for me! haha..My portfolio is turning into a mutual fund with too many breakout names! Can’t buy them all but sure do I really want to!! So much potential here!!
I hear you Keith, I am overwhelmed myself. But, having too much fun!
Same here, too many breakouts…thoughts on HOV?
HOV is good. I like it.
Oh I wish I could buy this! hahaha..I dont know when to sell some of my stocks. Do I give them some more time to move after the breakout or if they dont move in a few days, do I move on to the next breakout? hahah
GE looking technically very strong – pretty important tell for overall market
To dump AHD or to hold AHD?
MGM is good, I was considering making it my stock of the year in the contest because I like the setup. I know there’s lots of breakouts, but might want to keep some shorts too just in case market does a headfake.
short:LAYN,SRDX, STKL
Long:VIT, OMPI, BAS, MAS
(laughter) I beat you too it.
:-/ somewhat true… you just happened to make my decision easier :-/
taking profits on some names. today was incredible. Sold MGM for nice intraday gain.
FEED has a triple top resistance at 5.70. It looks like it could be forming an ascending triangle since november with intermediate bottoms at 4.00 and 4.30 — if so, we ought to see a pullback to 4.90 or so. Once supply dries up at the 5.70 mark, clear the skies.
Just be prepared to see a 15-20% pullbck in the next few weeks.
agreed, FEED had every opp to breakout today. A little worrisome.
MGM looks solid from a technical standpoint. bullish engulfing pattern, breaks out of a symmetrical triangle AND 100 DMA on higher volume.
I really don’t think you can get any more “by the book” than that. i put a “measured” price target up at about $23
http://chart.ly/y73qwt
I prefer RC’s method of drawing the measured price parallel to the rising trend
i use guidance from Edwards & Magee– using the trend PRIOR to the consolidation formation to estimate the break out. Otherwise, how would you estimate the target of a descending triangle break out?
regardless, whichever is more accurate, i prefer.
Hey guys,
Just wondering if anyone can recommend the best swing trading book/articles they have ever read? If you have any good site/books, please let me know. Thanks!
Slap CHOP takes the lead: http://spreadsheets.google.com/pub?key=pgO4gR12THCnAD7iNEGwXRw&single=true&gid=4&output=html