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ITMN popped and dropped. I like it even better for another round at 8.96
http://finance.yahoo.com/news/intermune-says-canada-approves-lung-211615096.html
daily chart - weekly is below
there it goes... :( no fill for me
Thanks, these falling knives are always tough to guess. The high volume left shoulder selloff and the sideways consolidation period leading into this dip makes me think it would be a safer play.
It's hard to say, as soon as you put in a low bid, they'll gap it up and run. Most of the time, there will be some type of reversal candle first. long legged doji, hrc, black candle or a hammer, completely beneath the previous big red candle.
That tells me the chance of getting in on a low bid are better right now.
August 12 calls bid .45 ask .55
WTG on your double.
ARII..uggghhh should bought some options
I was starting to wonder where you were? There may be something to that pattern?
two headed dragon!
AMSC/MCGC- To the best of my knowledge, the text book reversal process is for the head to go down, not up. I remembered the spike instead on the MCGC chart. Tonight, I'm going through the list and noticed this. It's a similar two headed spike look, then consolidation and the ma's/bollies converging.
mcgc chart is below for comparison
That does sound tough. I would think you might be able to get away with swing trading a couple of big board stocks and using the market as your guage. Like I do with MET. When the market sucks, buy MET. When it comes back, MET does too. I look at it as using MET as a tool to trade the market. The real key is finding a good solid fundamentally sound stock that rises and falls with the market.
That's what I always hated about the lower dollar stocks. I could guess right on market direction and the pos wouldn't follow up.
Im absolutely confused as to market direction right now. anyway the following two charts explained it well. Im trying to play options, but only get a half hour lunch break no time before or after work..... making it real hard... I come to your board for help finding stuff to swing
You still can't do much if the market sentiment is against you. I have found that by looking for these processes, my number of gains increase but more importantly, I'm not getting as many big losses. That's what always killed the account.
I guess it all depends on how you look at it?
pretty cool stuff... thanks!
whole market looks like this chart lol
HPQ is further ahead in the PROCESS. It's taking that dip and trying to form the head. The previous trend, neckline resistance, and volume are key components in trading this pattern.
If you notice? this is when alot of the insider's do their buying.
scroll down to the bottom of the page in this finviz link for insider info.
http://finviz.com/quote.ashx?t=hpq
FDML - keep an eye on this. For someone who can't watch the market all the time, I think this would be a good one. It's possible that I'm totally wrong, that happens a lot.
I expect this to consolidate and build a base for a bit, then dip hard, form a "V", then consolidate in the same channel as before and then move up, picking off each major moving ave as it goes. 20/50/100/200/400.
I think it would be good because if it consolidates in a sideways channel, picking it up at the lower bollie and selling at the mid and upper bollie would work a few times until it dipped.
thanks. love them.. stops are easy. set it and forget it for the most part
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KISS. Keep it simple Stupid method of technical analysis
Proving you can make lots of money by playing the same stocks over and over with some simple indicators
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