Order: 13:25:57 (2 sec fill)
Entry 13:25:59 $31.2699
Scale Outs:
1/2: $36.92
1/4: $41.89
1/4: $41.18
Suffice to say, I am done for the day. This is a news driven power spike that I was fortunate to catch. I don’t regret getting “only” 1,000 shares because I stick to my rules on position sizing specifically for intra-day spikes.
1st Target: $31.68 (high of day prior to spike)
2nd Target: $33.63 (100-day MA, kept spiking higher)
3rd Target: $37.08 (200-day MA, I always cut here)
4th Target: $40.54 (November highs – sell everything at this point)
…
Charts are for “Idiots”? Think again.
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there was news and volume. You weren’t even tracking this stock before today, so what’s the difference what the chart looked like before the news hit? If it looked bearish somehow would you have done anything differently?
You have to know how to read an intraday chart to win on a trade like this
You didn’t get the question. This intraday chart is not hard to read at all, if (huge IF here) you put it on your radar. However, there are so many other good setups to watch, why do you choose to closely watch this intraday chart?
Before today, its setup wasn’t that impressive at all.
I doubt it was a trade based on reading charts. It is more about news.
I suspect Chart addict was bluffing here, honestly speaking.
After reviewing the trade, I have come to the conclusion this had very little to do with technical analysis and more about just being at the right place at the right time. You literally had 1-2 mins if you were lucky enough to be at your desk, have the right news feed coming in to see the news and volume indicators spike to get in.
Technical analysis part would not have done anything for getting this stock on your watch list for the daily picture. Intraday, technical analysis would have helped for entry point. John did a aggressive buy, getting in before it went higher.
Congrats John but technical analysis was not the major indicator that got you into this stock. It was being at the right place, at the right time, and luckily getting that order filled before that stock rocketed higher.
Skeptical, you’re right on. this kid needs to quit pretending he’s not a momo trader. It’s a given technicals play a big role in trading this way; in the sense of managing the trade once encountered. However, this kid continually pretends in his blog posts and elsewhere that he sees all bo’s coming via technicals alone. You, I, and he knows that’s laughable. In a situation such as this it was alerted via news, ala, ttn or briefing, or the screener that ‘ca’ uses on his scottrade acct, or even (gasp) listening to some other degenerate traders ‘webcast’. {although. it could have been caught on volume and price alone; alas it wasn’t..}. Newsflash; ‘weeklyta’ is not much different than most of you reading his tweeeeeets. Kiddo condescends to you, tells you to scan 4000 charts nightly, all the while scouring the interwebs looking for the next bo JUST LIKE YOU. Again, knowing how to read a chart/price/volume is ESSENTIAL in managing all trades such as this. Pretending that your charting ‘godliness’ lead you to it is misleading at best and for the no doubt countless newbs that read his stuff is most assuredly harmful to any progression they might have as a trader. Go get your shinebox.
What the fuck are you guys crying about??? John caught the volume alert from $30 dollars initial spike and got in right at the highs of the day. Wabisabi and Skeptical both of you HATERS are Jealous/Bitter and wish you could have done something like this at such young age. Listen, There are tons other financial blogs out there, if you dislike WEEKLYTA so much then why the fuck you keep reading his post?? Let me tell you WHY. BECAUSE BOTH OF YOU LOST YOUR FUCKING SHIRT AND DESPERATELY LOOKING FOR HELP BUT FAIL TO ADMIT THAT YOU NEED HELP. You two are just TOO OLD to keep up with this fast pace MARKET. I am SORRY but that’s LIFE. Accept it!
CA is in the business of making money. Whether it be from breakouts on the daily or intraday news spikes, he’d be stupid to ignore any opportunity that comes his way. Maybe you fools should learn something and expand your strategies instead of crying about it.
Hello there dumb guy. I caught this play to the tune of 7+ points and am the owner of many wonderfully tailored shirts not to mention socks and underwear. Unfortunately, I missed out on a point because I had to be alerted via news feed instead of having the highly advanced TA skill to see this spike coming by simply looking at the daily chart beforehand. You are right though, I am quite bitter about that missed point. God damn this “fast pace MARKET”.
CA stated … “This is a news driven power spike that I was fortunate to catch.”
Do you understand what that means? Stop bashing….
TA or what A’s you use, it;s working.
There is no much TA to say when entering this position. This is a momo play.
Not that I want to discredit TA. On the contrary, I mainly rely on TA, that’s how
I can tell this is not such a setup which can be detected the day beforewith enough odds
by simply reading charts.
SumDumGUy, you are such an idiot. CA talked all about how to exit the position based on TA. However, it is the trivial part of this play.
The critical part is how TA plays its role before CA entered this position, which CA said nothing about.
I like CA’s defense on TA, coz i’m a TA player, but in this case the defense is over-stretched, which discredits his previous effort significantly. I personally become very suspicious about CA, unless I see how he explains the critical part
Obviously an Outstanding trade John!!! May I ask how you got $NUVA on your radar before the spike? Looking at the daily chart it doesn’t like much of set-up??
wow, great trade! Nice work on the fast fingers!
that’s what she said
Super Congrats … that was Amazing!!!
thanks cc
thanks tradergirl
Bought small $NUVA 39.7499
nice…thoughts on $EP ?
did you get an alert or something when there was a volume spike; just curious how you managed to catch this – I understand every tool you use is free.
same question here!
I’m sorry, Chart Addict, I really don’t think the chart reading is the key here.
Of course, the intra-day chart tells us sth a few minutes before the spike, but I won’t put it into my radar at the 1st place, because its daily chart is just average good, isn’t it?
out $NUVA 34.71, done for the day. really good one
*39.71
have a great wkend
I was lamenting about what a boring, low-volume mkt it was …until I saw your trade. Very nice catch and execution.
thanks. wish one of these for you as well purdy
Excellent trading CA! Thank you for posting the details.
thanks
A couple of commentors at the beginning of the thread are either clueless, jealous, rookies, or all 3.
CA stated … “This is a news driven power spike that I was fortunate to catch.”
Do you understand what that means? Stop bashing….
TA or what A’s you use, it;s working.
someone actually read the post. lol
NUVA…beautiful trade CA!
thx frog
where did all these new ppl come from? I don’t usually respond to new ppl until they proved their worth (and performance) on the blog. sorry.
Bottom line: I’m the guy that made the cash and my methods work. End of story.
1) notice news alert
2) plot movement on chart – notice that break of day’s high is imminent (a technical high vol breakout setup)
3) get in
4) get out
got it?
Bought $ESV 45.22/2285
Sold $ESV 44.99, loss
Bought $OSIP 56.2999
Sold $OSIP 56.44
brb
bought 26.6092
Sold $AIG 26.58 brb
amazing trade my asian brother!
From your other trades (ie AIG, OSIP, etc) it seems like you take very quick profits. It’s hard for me to believe that you caught most of the NUVA move. What am I missing?