Not a trade for the faint of heart.
1/2 positions in both.
Joined Nov 11, 2007
1,458 Blog Posts
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Woodshedder displaying balls of coal.
Oh, geez. Here we go again. Mr. Magoo trading.
I’m going in with ya. DDM @ $66.45 if it triggers.
grow up fools, it’s just an RSI2 space magician trade.
What are you talking about Boone?
I show ddm and sso as being eligible for your RSI(2) trade.
In response to balls of coal and Mr Magoo commentary I was highlighting that it’s not like you’re proclaiming some kind of bottom for any reason, but that you’re merely following a strategy that you have outlined numerous times in the past.
Yep. Exactly, Danny.
I don’t know about the space magician part. On days like today, I feel like that dude with the big cauliflower ear, just waiting for it to pop.
you use a 12% stop you said?
I’ve also been trading the UWM/TWM pair. Last week there was a UWM buy signal on 6/11 at $51.50 and just like today, it looked like a horrible idea. But I took it anyway, and they was a sell signal on 6/16 at $54.24 for a quick profit of 5.32%
Yes, I will be buying DDM and SSO right along with you. Remember, it’s just a numbers game that pays off in the long run.
For this particular trade, I’m using an 8% stop.
Bob, numbers game…that’s it exactly.
wood-
i would think CX would be your RSI(2) wet dream….thoughts?
Null, without getting too much into the specifics of why its not, lets just say that CX wouldn’t make the screen.
Here is what is necessary.
1. Moving average support.
2. Trendline support or support from previous price pattern
3. RSI(2) < 2 I guess an easy way to look at it is that we don't want candidates that have had been killed, beaten down, and shit-kicked. Instead, we want the ones that have just experienced a normal round of selling, that may have gotten a tad out of hand.
Or in plain english, the stock based system is top secret due to its fuktarded ability to bank Fly-like amounts of coin without a lightning-powered Delorian. 😉
wood-
thanks for clarifying, i understand 100% what you are saying.
i often forget before i comment that you guys’ are (for the most part) momo traders, as opposed to elderly “investors” such as myself.
i loves me some shitted-kicked equities.
nullpointer, you’re pretty hip for a supposedly “elderly investor”.
Just be careful (I’m sure you are) with that bottom-fishing, it’s a tough market this year.
Love, “Mom” (I can’t help myself sometimes)
Boca, you seem like a good mom. Any mom that reads this site has got something going.
And, unlike trading goddess who is an obese mustachioed puerto rican man, I believe you when you say you are a woman.
Kudos.
Keep up the good work.
Watch out, Boca. Our boy Danny is a MILF hunter.
_
thanks Danny, I think I’m a much better Mom than trader, although I’m working on the trading part.
It´s all good Shed, you guys here are like my fave delinquent little brothers, partners in crime so to speak.
Have a good Sunday, everybody.
boca-
thanks for the advice…..yes, i am careful. i always scale into these scary positions in thirds.
when i say “elderly”, its a reference to mindset. i watch these “kids” bid up these ridiculously over-extended issues, and i just have to shake my head and laugh. make no mistake, these guys are fucking amazing in their calls. space alien magicians indeed….just way to stressful for me…..we all know how the livermore story ended, right?
the reason i visit this sight is for the macro perspective. there is an excellent blend of opinion here, and i come here to see what you guys are thinking.
the only time i have allowed this site to influence my investing was gunners’ series of posts. man, those were fucking good. really really good. ironic that he has recently done somewhat of an about face with respect to the state of commercial real estate. me personally, i think we haven’t even made it thru the opening credits of that story.
enough babbling.