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Again, I hate to keep apologizing, but I’ve had a devil of a time with my “new” lap-top computer recently, and I couldn’t even get a proper “boot” last night. This is extremley distressing as the damn thing is only about a month out of Best Buy. I am running the diagnostic tests on it now, and am hoping that it’s just a Microshaft glitch and not something more serious.
Anyway, I’d promised yesterday to take a look at Fly’s OPEN, which I was persusing via chart-service last night.
First, a caveat: I know nothing about this business, save for having used it a number of times, and thinking it’s a nice niche for “first mover” exploitation. I rely on Fly to do all that Graham-Dodd like analysis on these things. That said, the chart is very promising — especially if we get a pullback from this recent parabolic spike.
Note that I’ve identified three zones of purchase, the first of which is “most likely” and the second and third descending in likelihood while ascending in desireability.
The first zone is actually a target line as opposed to a “zone,” and it’s merely set at the retrace of the original breakout point on March 22nd at $96.00.
The next two zones are based on the two past largest “price-volume” bars, which tend to connote resistance and support areas for the charted stocks. Obviously, that second PV bar down is the stronger of the two, and in my mind, the “all in-zone.”
My strategy here is to go in one third at level one ($96.00), one third at level two ($90-93.00), and then the last third on a break back above level one again.
If we break down to that second “all-in zone” of support (unlikely, I think), I will not only put the last third on then, but will likely add some leverage to the position. As a matter of risk management, I would then take the leverage off after a break of that key $100 zone again.
Best to you all.
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Jake is Dr. Goldfinger.
Jake,
Thanks. That’s very informative with regard to risk management. Much appreciated.
Fancy
but would you really be buying it with the rsi and stoch that high?
They would likely come down quite a bit on a pullback of the magnitude I’ve illustrated. The very high RSI is why I’m not buying at these levels, however.
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thx bro jake, now can you do something about that damn $USD strength ? 😉
— Original Sender: HARVEY GOLDSMITH, CANTOR, FITZGERALD L —
Almost as if scripted, shortly after Fed Pres Hoenig of K.C.
an avowed monetary policy hawk, announces his retirement Phil.
Fed Pres Plosser steps to the plate swinging for the fences.
Plosser declined to say when but states that the Fed will have
to “reverse course in the not to distant future and begin to
remove the massive amount of accomodartion it has supplied..”.
Importantly, defines his “exit” strategy as one which would
shrink the balance sheet concurrently with raising rates.
— Original Sender: HARVEY GOLDSMITH, CANTOR, FITZGERALD L —
Plosser’s statement of his “exit” strategy contrasts sharply
with what has been considered the more gradual removal of
accomodation such as soffered today by Chicago Fed Pres evans.
He said that at the conclusion of QE2 a first step toward
firming policy could be to stop reinvesting proceeds of
maturing MBS, but noy immediately. So we have the parameters of Fed disscussion represented by Plosser vs. Evans…may the best
man win. There seems more and more attention being paid to a
time of less and less accomodation–Treasury selling MBS, Fed
testing reverse repo proceedures, Plosser throwing out a
radical plan and the ever popular Fisher throwing grenades. It may be coincidence but worth paying attention to.
Kabuki theater.
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I think you mean Bukkake theater.
A 2.4 BILLION dollar market cap on a company that makes restaurant reservations “SLIGHTLY MORE CONVENIENT THAN A PHONE” as we drive on the thin ice above debts deep as space is high while resources deplete, and global unemployment and unrest threaten the order of society as we know it into the specter of hyperinflation of the world reserve currency???
You guys can have it and good luck. Maybe it’s an outstanding short term play. I could be totally wrong but I just don’t see this as a company with vast upside unless they diversity into something else and beat the competition to it. Then again, the only non-resource/commodity related stocks I have ever bought are TSLA and BORN. I prefer to play what I know.
Short term play, for sure.
Make hay while the sun shines, etc. The chart still looks excellent.
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Is this another Zuckerbergesque machination?
Is the kid who invented open table selling his stake yet? Lord knows I would be.
I bot more EXK and I didn’t even want it. I’m starting to think like you. How could I refuse when the price was so good.
You are drinking the Kool Aid at last!
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http://www.youtube.com/watch?v=iRTfex2VQ7g
Interesting interview in the second half of this episode.
Nice hat!
that betancourt fellow, one would think that he was describing etf’s. after all, etf’s are just repackaged goods based on an allusion.
Jake, you know this guy? He looks like a silver bull to me. 😉
Where do you find these people?
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All your problems with laptops is a bit alarming. I’ve owned various laptops since the mid 1990’s. The only problem I’ve ever experienced with any of them was the self-inflicted shattered screen last year. Seriously, no matter if it was Dell, HP, Sony, whatever absolutely no problems.
So, what in the hell are you doing with your laptops?
I dunno, but I ran the diagnostics, found nothing wrong, and now– a day later — it’s fine.
I blame Microshaft.
+++++++++++
Let’s have an update on gold and silver my Man!