Surely there are traders out there willing to chase a good breakout. This one is for you.
Despite my own beliefs that now is not theÂ time to be looking for breakouts, I felt that the inaugural day for iBankCoin.com deserved at least one good breakout.
How exactly does that qualify as a breakout?
It’s “almost overbought” on your squiggly blue line, nowhere near previous support levels on the squiggly red line, miles from ema’s and the highs were rejected on price.
The volume, could just as easily be selling volume. Have you checked T&S data?
I’ll concede however that it still has a 50/50 chance of going higher however.
Grant, this is a tough environment to find a good cup w handle breakout. However, if you go out more than one year, you will see the pattern. The one-year chart doesn’t show the left side of the cup.
However, I’ll concede the chart isn’t even close to what I would consider an easy trade. It was more of a “hey look, there are still stocks going up in this environment” kind of post.
Shed – speaking of reverse cups w handles; what u think of MVIS chart upside down?
Who was speaking of reverse cup w handles?
Juice, who were you on the old site?
Finally, MVIS chart looks like an old toad that got ran over, squished flat, and then dried in the sun for several weeks, and is just waiting to get blown away by a stiff breeze.
What think ye of the massive buys in A-commie at about noon?
JakeG, what is A-commie?
Jake, I covered my short in it this a.m. at breakeven. I haven’t been watching it. I pulled up the chart, and that is a massive block. Makes you wonder if someone is looking long term, or just wants to be long a bounce, and then set up a short, and begin unwinding the big block. Hmmm…that sounds difficult to execute. Basically, I’m clueless..
CELL up 6% today.
shed where do you think VMI is heading
Brian, right now, its headed down. It looks to me like there is somebody that wants out. Down on a day like today probably means someone is liquidating. It is severely oversold.
so that means buy it.
Danny, and everyone else. I’ll let you in on my thinking about patterns like what VMI is experiencing, and hopefully you will do the same, as far as what you think when you see the same thing.
I’m reluctant to buy VMI because action like that, while is probably as I’ve said-just liquidation-sometimes it is because there is bad news on the horizon.
I don’t have access to analysts, and I don’t have a Wall Street i.d. I can use to gain access to execs at VMI. I have to rely on what the chart is saying. There have been many times I have been punished for holding onto a position that is falling when it should be going up, only to find out that seemingly everyone but me already knew the bad news- hence, the selloff.
I’m not at all saying there is anything wrong with VMI. I’m just trying to explain why I have a hard time buying that kind of selloff. I’m curious as to what others think that prompts them to buy the same pattern.
Shed thanks I am in it at 89 Iam trying to decide if I should cost avg down here at 79-80 but I don’t think the bottom is in for VMI yet. Hell I think the market in general is not done correcting I feel 12500 on the dow before we are done. As for bad news at VMI I can’t find any they have a nice contract with the TVA updating the grid there for years, they are selling to china, milking the farmer and the SEC filings look good. The stock has run up in the past 6 mo. so I hope it is just a fund booking a gain to cover some losses.