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At the risk of getting flamed worse than I expected, I will copy my stupid question from the end of the last thread to the beginning of this thread.
OK, get ready for a really stupid, newbie question.
I’ve been trying to get more knowledgeable about technical analysis so I have been following this blog as well as others on ibc. I bought a book on how to read candlestick charts (Japanese Candlestick Charting Techniques by Steve Nison… really good book) which has helped a lot. My question is what do the red candlesticks represent? I understand hollow and black or red and green candles, but I don’t understand hollow, black and red candles on the same chart such in the SOMX chart.
I know this has got to be a stupid question.
From StockCharts.com, which CA uses for his charting:
http://stockcharts.com/commentary/mailbag/mailbag20000809.html
Cool, that explains it. Thanks.
For those wondering, and for those who aren’t, Dumas and Dumbass are not the same peoples. I is much dummer.
New Comment
Developing…
Dumbass, be careful assuming that candlestick analysis, on its own, has any edge.
Here are some studies to show you what I mean:
http://ripetrade.blogspot.com/search/label/Candlesticks
Wood – Very interesting analyses based on my quick skim (sorry, but it’s late, even here in HI), but they also seem to raise as many questions as they might answer. I’m also light years away from you in trading ability, and especially when it comes to systems trading/analysis – but I’d have some (possibly foolish) questions regarding: use of the 5-day performance period (had to choose something, but obviously results could have varied a lot using other periods/metrics/”exit criteria”); entry criteria (among other things, Nison seems to emphasize waiting for pattern confirmation and also assessing risk/reward prior to entry – perhaps some of the other techniques that you’re alluding to when you qualified by saying “candlestick analysis… on its own”); and subjective criteria chosen to define/quantify some of the pattern elements.
It is cool, though, to see the patterns put to an actual test versus just accepting that they’re meaningful because someone said they were. Jury still out on candlesticks being able to turn lead into gold, I guess. Damn. Maybe Elliot Wave….?
That’s an interesting site. I’m going to need a while to digest it.
KFN just broke through 200 day MA
i think it bounced off the 200 day MA = 1.46
In the shippers today, buys:
EGLE 6.08
SSW 6.72
DAC 3.97
Bought $DRYS $6.61
Just got back from my 2nd coaching session
welc ome back to the trading turret..
BEXP 4.40
in cnxt 1.48
out – 1.43
SQNM….wow
Another up day gentlemen, buy with impunity.
there goes CPSL
Had that on watch list, missed the first break. Good volume.
Sold $MRNA, LVLT, $CGEN
TRID is moving.
Started a small position in CAEI at 2.03-04
CAEI’s got some volume this morning
WRES b/o
long and adding to EDGR
Bought SII 26.21 – part of my institutional / 200d break theme
I’m up like a mofo
Bought CBG @ 10.10
Sold CHINA $3.57/58
CA – Thoughts on ATSG? Also, do you think AEZS will see a secondary B/O?
Sold KFN $1.37/375/38
Sold NCS $2.97/98
RAD Breaking OUt
CBG B/O on volume
Sold ARM $5.42/425/43
Fucking killing it today.
CYCC looking decent
Sold CNXT $1.42
Sold SCSS $1.49/50
sold ISRG 214.57
GERN b/o
AEZS looks primed
NVAX spiking hard!
NVAX broke out
Bought ARIA $2.43/44/45
NVAX out 4.14
position update from friday close:
SYNM 2.28
XRM .96
GRB 2.93
its a bit thin, so a small lot
CPSL 1/3 out 3.15
LIZ in 2.97
CPSL another 1/3 out 3.19 … 1/3 left
Bought BDN @ 8
Bought SYNM $2.63/64
Bought CAEI $2.11
Bought NVAX 4.11.105
Nice call on DRYS CA! In with you on there.
looking for 7 on this squeeze. unless theres more to it….
Sold BPOP $1.26/27
Sold NVAX for 4.28. May revisit on another b/o.
MAPP moving
Sold CAEI $2.09, SYNM $2.59
Sold ARIA $2.41/42
Sold RAD $1.43/44
BZH moving
I am liquidating positions, cause i need to take a nap sometime soon. I will re-add stuff by the close.
Remaining: DRYS, NVAX, SQNM
FEED possible b/o
Good Call
FEED!!!
Bought FEED $6.09/10
Good call. thx
DENN 2.25
that was quick out @ 2.22
Bought HEB $2.50
The nap can wait.
HEB at $2.50 ??
Okay guys, the top is a few days away. For this reason, I am scaling out of my position in SSO. The fact that the market did not rally on the housing news today tells you the end of the rally is very near. It is time to get short over the next 2 days to be ready for the huge fall coming at the end of the week.
You are basing your prediction on 1 event?
No sir. What I am saying is that for the first time in a long time, the market has not rallied on seemingly good news. Recall that last week, you had some horrid earnings news, yet, stocks rallied regardless. Now you have good news, but the rally gets thwarted. That tells me that the big boys are dumping in expectation of very bad news later in the week.
sorry didnt refrest regarding HEB…
re-bought ARIA $2.49/50
AKRX amazingly strong support at 1.18 slowly creeping up but low volume may surge
CA – ARIA a day trade or earning trade (thurs 7/30)??
Bought DVAX $2.02
Sold ARIA $2.44/45 – too extended on the daily.
TRID
I am in search of the best short ETF to buy tomorrow. I am considering SDS, DTO, and QID. I am also considering 3x shorts, but I am not sure if I trust them. Any ideas CA or anyone else?
Thanks
I like TZA personally for quick movements as it tracks the small caps…
One other interesting chart for those of you who believe the rally will continue. Take a look at LQD. That chart seems to be a very good indicator of a market top.
CA – Whats your target on DRYS
I think he fell asleep
been holding on to SQNM since friday and keep raising my mental stops
stopped myseld out of SQNM at 6.42 for a great gain
considering an ACAD short
what do you guys think?
Sold CBG @ 10.44
FEED might be getting ready for a second leg
damn. cbis.ob ripping.
Thanks CA and everyone else – DRYS and FEED are making me mad money! Thanks 🙂
VVTV 2.99
NCS
ATSG on the move up
GNBT on the move..
EDGR close to breaking out
CGA looking ready to rip again
What happened to Retox? I miss his ES trading posts.
MRNA perking up here too
CPSL!!!!
Hoping for a second push on BEXP into the close…
FAZ 37.30
jazz!!! In at 5.40 small position flyer
Out 6.04, damn that was fast!!
nicely done
Anyone gonna hold DRYS overnite? I got out at 7.00…
WNR 7.13 overnite hold
TZA SRS QID hedges on overnite
anyone buying MSPD? B/O!
sold SYNM 2.6
Adding some short protection into close.
sold FAZ 37.44
Sold Half FEED at the close. Holding other Half. only position.
LCRD @ 6.14
I am stuck with my 6 positions overnight. And, my lizard escaped from his tank, but is now found.
what are they, CA?
XOMA is all i’ve got for the overnight.
What do you guys think of HEB? Chart still looks good.
Also, do you think SQNM will fill the Gap? Thanks
CA and loyal followers – you guys are amazing. I only wish I had more time to devote to trading – only after hanging out here could one feel like a loser wrestling a 1% gain on a day the market really didn’t move much at all. Didn’t make it back in time to lock in some gains and raise more cash so I’m holding existing postions, 50/50 cash/long.
Thx.
+1% is better than -1%.
no doubt sir!