My previous post was executed in full and the 830-850 bounce took shape in it’s entirety by yesterday’s close. At this point, I am looking for 2 things: 1) the market continues to execute the neutral flag in preparation for a move lower, or 2) the breakaway fills it’s gap and heads even higher. Regardless of what takes hold, both scenarios will “box” the market. We are now in a multi-day consolidation. There needs to be more time to consider taking on short positions.
For long positions, however, I warn that you must be very, very selective. The stocks cannot, and must not, correlate too closely with the general market. A good example of this is FEED or SIRI, or stocks that love to move up, regardless of how the market behaves. If you do want to short, you also must be very selective and find stocks that have the highest probability of moving lower, regardless of how the market behaves. Otherwise, incur the wrath of the whipsaw.
I think FEED will hit $$5.00$$ tommarow. YEA YEA
CA: Since you are THE Man on these spiker plays;
DDRX – more to go or stay away?
CSE has a nice chart plus decent fundamentals
TECD also
Soo…the market can either go up or down?
That’s Fly analysis…
Just kidding man, your posts are one of the first things I see in the morning.
FEED needs breathing room.
DDRX – away for the next 1-2 days. Entirely outside the upper bollinger.
CSE, TECD yes. Many charts show the same characteristics, but be selective.
lol Mike. thx.
Bought CAR $1.91
CA – got a target on CAR? 4 ish?
$2.60, possibly $2.70. $4 is too much.
CAR about to rip
If CA and RC say buy, I jump. In at 1.98 *I traded in my 87% gain in TCK.
Cheers!
CA,
when looking for companies like car– what else do you look for besides great patters? Any indicators used? or just looking for things that are incredibly beaten down and have faired well over the last few month?
You have also been right on with time frame. What is pointing you to the idea these patterns are going to unfold so quickly?
Thanks
Great call on CAR. Why do you like SIRI? With all its gains in the past month, aren’t all the indicators running hot?
LVLT sold $1.01. $0.01 loss, like I give a shit.
Bought FAZ $9.65.
Buy – I sold all that shit at $0.60. You don’t have PPT?
Peon – No indicators, only the moving averages.
Sitting on my largest monthly gain. Ever. Ridiculous.
CA
No PPT. Not my thing. I like your analysis, so the comment, which I rarely do. Thought you were holding on to SIRI. With the short interest rising and the market ripe for another leg down, I was surprised you were holding. Mybad.
Congrats on your performance. Enjoy the sweet smell of victory, it is so much better than cash. Though cash helps too.
Yea, I occasionally post my buys/sells in there. Sometimes on twitter and greenfaucet and wherever else.
The determination for SIRI was when it hit the 200-day MA, which was my target. There will always be some form of resistance at the 200-day MA.
your buy of FAZ was that a hedge or just a late day pickup and dump?
chart addict! what is your twitter name under? let me know. thanks!
FAZ is a holding position. Good pattern.
deeice – @WeeklyTA
My friend and I had some confusion and disagreement about the wedge we had and the breakdown. I was waiting for the retest and he says it was today and it appears possible depending on how you draw the lower trendline. do you see the wedge retest happening and did it happen in your opinion? and whats your opinion on close to a trendline but never touching it as a retracement. By the way I feel the top is two days away if we don’t already have it. thanks man
Forget what your friend thinks, forget what other people think, and forget what you think. Remaining as unbiased as possible, what do the charts tell you? To me, it appears that the wedge’s lower trendline was tested multiple times.
I think it is not smart to call a short-term top on a specific day. Shorts have to be scaled in, because this box here is going to cut up both weak-handed bulls and bears. I make no commitment going short until there is some degree of certainty, but I like the 10-day chart of FAZ.
CA, I’m 142K shares of FAZ with you. I’ll be holding until my target is hit in mid May.
Um, excuse me, but did you see a deranged grandfatherly figure in a backless nightgown and slippers, maybe mumbling something about a stock position or portfolio?
I assure you he is not dangerous… we’d just like to get him back before lock up.
Thanks much.
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