Let Us Celebrate

Mon Aug 3, 2009 4:31pm EST 19

Here at iBankCoin, we nailed the last 300 S&P points, and I personally with be having 2.5oz ribeye tonight in honor of our friend Mr. SPX. I must say, I was tempted to close out all my positions and regroup after having an amazing run, but for some strange reason, I don’t think the party is over.

With the bears still shorting aggressively, tomorrow should be interesting.

Note: I will try to get a review video up tonight on the move in [[DENN]] , it was a perfect example of finding a stock before the move.

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Shippers Setting Up

Mon Aug 3, 2009 2:08pm EST 9

I’m looking for the shippers to make a move, we have a few that are setting up nicely:

DryShips Inc. [[DRYS]]

Excel Maritime Carriers Ltd [[EXM]]

OceanFreight Inc. [[OCNF]] love the moving averages

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IO Setup

Mon Aug 3, 2009 12:44pm EST 1

The current 9mo chart for ION Geophysical Corporation [[IO]] displays exactly what I look for when I screen for stocks. Notice all moving averages below price with a nice bounce of the 200 day moving average. I am long as of 2.82, and will place my stop right underneath the 200 day moving average.

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RC Buys DVAX

Mon Aug 3, 2009 11:25am EST 8

The man, the myth, the legend, Mr. Henry Fool, aka. the biotech king, seems to think DVAX goes higher. I happen to agree, take a look at this flag developing:

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DENN Setting Up For A Triple Play

Mon Aug 3, 2009 1:00am EST 13

The chart of [[DENN]] is a great example of what you want to look for in finding a stock before an explosive move.

One of the most important things I look for before entering a trade is where the moving averages are located. In the case of DENN, they are all trading below price, this is something I want to see if I am thinking about buying– this provides great support for the trade.

Another thing I see in [[DENN]] is this nice flag pattern developing:

A breakout in the flag pattern would also spark a move above it’s 61.8% retracement level on a 9mo chart.

And, when you zoom out a little further to a 5 year chart, it also shows the stock stuck right below it’s 23.6% retracement level. So again, a breakout in the flag pattern would also cause a break in it’s long term fibonacci level