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Lol. You're probably the one who will constantly press the "already lit" elevator button too huh?
OT: Staring
Ever stare at a chart and think WTF? This thing hasn't moved forever, its just sitting there.
Then you realize you did your Dumb Ass Move of the Day and don't have the chart on "update every 15 secs"
If you haven't, that's because you're not me :) -Be Thankful.
fam401, Be careful about rumors and postings about what others think its worth. I don't know either way about this stock, but what we look for in our Smurfville world here is stocks that have some type of EXACT DATE (or as close to it) of a catalyst coming up (earnings, trial data to be released, drug approval dates, conferences being presented, etc.). Those exact dates seem to make people greedy as to what can be.
Then we check the charts for patterns. Smurf is great at letting us know support / resistance and news PR research.
Do your research, then if you believe its good enough, then go for it. If unsure, then keep researching until you find one that you can believe in. Best of Luck.
$SPX - 1865 - 15 min chart. I am being cautious entering some trades that I'd like to enter, because of the down Europe and Asian markets. The US markets opened down the boogied up. But markets have been up for soooo long that am just watching at times for clues as to whether a downturn is coming.
SPX hit 1,867 (support/resistance) line and bounced off it 2x this AM. Am watching now, looks like 15Min chart is overbought, but its starting to turn around...maybe. So just wondering if sell off into afternoon, or rally.
Watching before making any other moves. I'm not sure what other people watch, but these help me.
ACST - Missed the entry this AM. Snoozing finger again. In any case, chart below.
In theory this $1.25ish is a good entry. I'm just cheap and know that i could have had it at $1.23 or less. So, I need to learn to let that go, because if it goes to $1.40+ who cares.
With that said, catalyst in June...My daily chart theory goes like this...
IMO it looks to be a good entry around here ($1.20-$1.25). Would be looking for play until $1.40 resistance, then $1.55.
Let me know any questions on my goofy charts. I just try and see patterns in dead people, I mean charts.
Also 15 Min Chart has support here. Just thinking about overall markets, and available cash, before entry.
Daily: (the green boxes are supposed to be mirror image of each other (with line down middle being demarcation))
15 Min
ACST - I thought Phase II results were in June. I'll need to check.
ACST : It's suddenly moving today. Hmmm. buy now or wait until $1.23 again.
fam401, ALN, I don't know anything about it other then a quick chart look. 15 Min chart shows it has support here at $1.20-1.22 and may pop back to $1.36.
Daily chart shows that it has almost doubled in the last few months back up to near where it was. I could see it going either way.
What are your thoughts?
Thanks. I am aware that it can move $.20 in a few minutes. But profit is profit. I didn't follow my rules this morning and was furious with myself. I got a second chance and followed through.
Will be looking to get back in very very soon.
ELTP : Sold All @ $.56 for autoexit of $685
Any time I can get $685 or more in two days, gonna lock that in.
Will look to buy back in again very soon. Maybe as early as an hour, or tomorrow. Dunno. Chart will tell me.
Status Filled at $0.56
Symbol ELTP
Description ELITE PHARM INC
Action Sell
Quantity 20,000 Shares
Route KNIGHT EQUITY MARKETS, L.P.
Order Type Limit at $0.56
Order Date 03/12/2014, 11:42:02 AM ET
Cancel Date
Order Number C12NPPT
GERN: I won't. I just figure too many good stocks out there to play to mess with one that might give a chance of a dead cat bounce.
I'd rather make a play after a stock receives good news and sells off. That way once the sell-off is done, and if the price retreated to a previous level of "before the news", then you get a stock at the same price and with better prospects.
But that's my trading style. We all have to do what works for us. Many can do these dead-cat bounces well. Good luck if you do.
ETRM : IMO the Bollinger Bands on the Daily are closing, but nowhere near being pinched. Overall when they pinch (very close to each other) to me that means a strong move in one direction or the other. Then it's up to us to decide which direction that is. The lower Bollie is $2.11. So one could wait until that area to buy, but in this case - the hammer is there (at the moment). It's only 1.5 hours into trading, so the hammer might disappear as the day goes on.
In ETRM's case, I'm trying not to overthink it here. I am looking to buy 5,000 shares total at the moment. So, I took a starter of 2,000 shares. Unless there's some type of dilution coming, I don't see a lot of downside risk. There's good support at $2.05.
I bought in a little earlier than I would normally do, but the chart is showing a hammer on the daily and it's a hammer at the end of a trending move down.
The RSI hasn't hit my lower sloped line, but its a starter, so I can average down and it very close.
Plus its on everyone's bio trading list. So it gets a lot of eyes and I think people will jump in if it hits the $2.05 area, etc. Worth the risk to me.
I check indicators in this order: RSI, Stoch (full) then MACD, then eyeball the price and its support levels.
I'm a little early on this, that's ok. There's the catalyst date in place (early June).
ETRM $2.22 - Bought Starter 2,000 shares.
Will look to add more if it drops to today's low or near.
ETRM - I had my Bollies turned off, thanks for reminding me. Turned them on now.
I think I amm going to buy ETRM. it has some more downside risk, but is forming a nice hammer although its early.
waiting a few more mins to see.
ETRM $2.20 - RSI nearing 40. The last time it's RSI was below 40 was April of last year. Just an FYI.
I may enter soon, or use money for CYTR, more ELTP, or ACST.
Yeah, it can throw you off. Stay focused and wait for it, don't go chasing.
It's good to laugh about it. We all make mistakes and this won't be your last. You've shown your track record, so this is a small pothole on your road to richness.
CYTR $4.88 - Bounced off 100DMA @ $4.73. Watching...
Oh man, sorry to hear that. I typically have one Dumb Ass Move of the Month. Let's hope that's yours and its out of the way now (and/or that it moves back to a price that you can add more).
(blame it on the kids somehow)
Thanks Sheep. Good to know for future reference.
Just to clarify, when you say physical gold, I believe you mean to buy gold that I can hold in my hand correct?
Also, what's the best way to go about that? Are there certain online buyers to get it from or is it best to find a local coin shop or ???
Good trade Sheep, wouldda coullda shouldda's only apply to me for learning purposes. 18% is top notch!
Thanks Sheep. There was a chart posted here two days ago for PAL. I didn't have the time to ask you about that one, but I believe that you are in it, or were in it. I'm not sure how PAL moves with the other metals. This is an area I have a lot to learn about.
I have been following the GSS stock that I mentioned about a month ago, so I can get a good feel on how it trades. I believe there will be a lot of volatility this year after last year's banner market. So, would be nice to have some gold in my portfolio somewhere.
CYTR: $4.96 - Waiting to see if it falls to $4.71 its 200DMA. If goes through that, then $4.25 worked well in the past.
It's very oversold on the Daily, and I believe in trading in those that you've made good trades upon in the past. I've had a few real good trades with CYTR, so always keeping it on radar, but only when it hits certain levels.
Watching...
ELTP $.60 - I have decided that if ELTP goes down to the $.35-$.45 range, I'm going to double down.
If it goes to the $.70-$.80 range, I'm going to sell all (or sell at least half), and Lock in Profits.
My average is $.53 at the moment. With the radical price movement its had in the last few days, and the catalysts still to come. For me, I think it's still finding its new trading areas, and a good plan. If I sell too early, doesn't matter to me, profits locked in and move on to the next one.
I apologize if this is a double post to an earlier one.
15 Min chart Below:
PLUG -41% today - Here's a similar example to your question yesterday about stock movements (similar to ELTP's recent slide down) and how they can seem extreme at times.
PLUG did an amazing run from $1 in early December to $11 a few days ago. Wow! Now I know why I've been seeing tweets and postings about the PLUG and others in that sector.
Now, I don't specifically know if there was news about it, but after an 1000% move, I'd say that at some point, it needs to reset. That's just too far, too fast. Plus I think a lot of people set stop losses, and the MM's just take those out left and right and it compounds the selling. Just my $.02.
Thanks Smurf. Good to know.
AEZS : PDUFA is in Nov. This can't be the runup for that? Isn't it way too early? Just my $.02. My guess is something else.
ETRM $2.29 : Is on watch every day for me. After getting out last time with a little profit and nice trade, I am waiting for the chart setup again. Getting close for me.
However, there's still plenty of time to trade this 2-3x at least IMO before ADCOM. This delay a few weeks shook a few more peeps out.
Good Day. Turn around for ELTP, APPY moving a bit. LXRX is fading though, and waiting for RGDX to hold any type of pop. I need to check the charts of the big 3 markets to see where they're at before deciding to move into other positions.
Am thinking ACST still. More of a "just put some money in it and wait" thing at the moment.
How was your day Smurf?
APPY $2.75 - trade2much just posted his APPY chart hesse. trade2much is a FANTASTIC chart trader (as I'm sure you know from $heff's board).
I've pm'd him a few times to get clarification on his exits and other chart advice. A top notch trader and also seems to be a good guy. One to follow if you're not already.
link: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98616158
just more info for you to base decisions upon.
ELTP - Shazam True. I decided I was going to buy more if it went down to $.35 (I wasn't in front of computer when it did so earlier, missed it).
With that said. Remember, its searching for its comfort level right now. Dad walked into the room and turned the heat down to save money. Then kids and mom came home and nagged him like crazy to turn the heat up and the price rose fast.
Now its looking for the most comfortable level for all, so it should settle into an area (most likely $.65ish IMO), before it decides where to go from there.
Point being, there should be a defined entrance some point in next couple of days (ignoring any news to spike it).
RSI divergences are KEY for me. I'll post some charts later sometime, showing how they are great warning signals.
I basically wait for RSI divergences to enter trades. About 70% of my trades are based on that. Price falls / RSI rises, along a trend.
APPY: $2.77 Remember to ignore me and everyone else, stick to your plan and "lock in profits" according to your plan. I believe you've done well when you've trusted yourself.
Just a reminder. I think you got this awhile ago, so "taking some off the top" isn't a bad idea.
Am holding...watching. Am up 8%. I believe you're got good gains in APPY still. It has plenty of room on the Daily to fly more, but will have ups and downs until it does so. All my Opinion.
Best of Luck!
APPY $2.72 - Put itchy finger in nose where it belongs.
I forget where you bought in, and all my opinion of course, but APPY just broke a very small ceiling at $2.70 that it tried twice. I'm hoping that's a support for the moment.
I'm looking for a move to $2.85ish and then I'll get out. At least that's my goal, and goals can be changed at any moment (depending on overall market, etc.)
goofy chart below:
IPCI $4.74 - Moving. I believe Andrew is still in it. You still in also Smurf? I sold about even if i remember.
ACST $1.23 Watching for entry in next few days maybe (yes-still watching).
I believe in June data to be released or something like that. Will check with biopharm calendar.
Looks like very good support at $1.20ish area. This would be a longer hold (anywhere from few days to a month). On Watch.
Goals: I can't fault you for not taking the 5-10% in the first day as we all sit watch and chart these things out and then it hits instantly. One instantly starts to ignore the 5-10% and think larger. That makes sense. Too fast, too easy.
It's important to identify the goal in the stock and the goals overall. The goals change all the time for me, based upon how the stock is trading and how the market is trading.
Looking back its easy for you to say I should have taken the 5-10%. I get your predicament.
Double Tap. It's just a mini-version of a double bottom on the RSI, but when combined with other indicators, or when the double tap is done right at a support line on the rsi (remember, I draw support and resistance lines on the RSI and follow those more than the support/resistance lines of the actual price of the stock), it's worked great for me.
The S/R lines of the actual stock is very important, I'm just saying that again, its just something that I've noticed and it seems to work very well for me.
ELTP may very well go to $.35 to fill a gap there. I did the exact same thing on ELTP that I did on LJPC. Got into both trades having had no sleep the night before and tried to catch a falling knife. I waited out LJPC and then found the great time to enter to avg down. Will do so on ELTP if it falls more. Am not concerned at the moment.
Smurf, Thoughts on FREE? What say ye?
HTM $.54 - Indecision Day (no - not a movie).
hesse, you still holding HTM?
IMO it still looks good to move up to $.60 (yeah, I know not a stretch when its at $.54), but take a look at the updated Daily I annotated.
little green arrows at points of interest (showing bouncing/curving up movements on indicators).
The RSI is sloping down / somewhat sideways though. I don't like that, but it does look like it can make a pop still and you may get some more out of it. I remember you sold some, forget what you have left.
Then again, I'm the guy that bought a stock that went down 20% an hour after buying it today :)
and..."Didn't get a chance to talk with them but was heartened by the fairly prompt return call." (cracks me up)
FREE $1.89 - This one looks very much like another chart that I have in my "trading bunch" or "my watcher list." I can't place it yet. Would like to find it to do a comparison.
I kinda like this one: FREE, but am only going to put it on my backburner watch list. I'll need to break it down further and poke it with a few sticks and watch it for a while to get a better feeling.
If you could do a favor and when you post a chart, let us know a quick fact sheet about it (catalysts or what you like about them, etc.) to help us all out. The more info the better, but even a short sentence would help.
Thank you mattchew.