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KMRT low today: 104.25, added to position.EoM
KMRT: Opened call at equivalent of 106.90 (gulp).Morning all, good luck.~D
INTC: I haven't seen such a pretty chart in a long time. Either 2/3 of a classic reverse head and shoulders pattern has formed, or a text book cup and handle. Volume spikes in all the right places too (9/3 and 10/13). OR - the beginning of a new downtrend, but to date, volume patterns don't point to that.
Schaeffer hates this stock: from his contrarian POV it has too many analysts regarding it as a buy, and too many calls open with not enough puts to fuel rallies. Also, other cons: everyone already has a computer, back-log of inventory, chip speed fast enough already, huge float, gargantuan options benefits for insiders with no options expensing, etc.
But the chart looks terrific. Today it bumped up against against the bottom of the long term DT Line begun on January 9, 2004, so tomorrow might start the beginning of handle or second shoulder (presuming a rally is coming in the spring.) I wonder if it will be about wi-fi. INTC is really hot about wi-fi.
Deva
Mr. Cash, thank you!!!:)EoM
GOOG: closed puts purchased at '174' at '171'. Looks like they're holding up the price for the Inside sellers, or OE, or both. I would imagine the MM's for GOOG would have a cordial relationship with the insiders who gave them the stock, lol.
Listen, everyone, if my public trades are annoying, let me know. I have no wish to offend the best board I ever found. For the record, if you want to bypass them, I always separate them from my TA posts, which are not worth reading, lol. I like to post some of my trades as it keeps me honest to my trading rules. I used to make and lose large fortunes regularly out of some very bad psychological trading habits.
Let me know, as I said, and I will desist immediately.
Deva
KMRT: Closed puts opened at 119 (app)at 109.55 (app).EoM
Thanks!:) I see you have all bases covered (Bull AND Bear)!EoM
Hello,
How do I post a chart on a thread without using a link? Saw some people doing it.
Deva
IMO, unless fabulous news is expected, the only thing fueling this rally on GOOG is all the puts closing out their positions that were opened yesterday, and lower prices should be in order soon. More stock being released in December and finally, in February.
Also, according to my very new and very bad, Hurst trading skills (currently reading chapter 4), and bearing in mind GOOG is a new issue, the 11-12 day top will be in tomorrow or Monday.
Deva
GOOG: closed call just now, lol.EoM
GOOG: closed puts @ equivalent of 171, opened call.EoM
KMRT: merged with Sears. Re-opened a very conservative puts at 119.00 approximately. Too bad my call was stopped out, but as a professional trading buddy of mine once said, "It's better to be outside wishing you were in, than inside wishing you were out."
Three cheers for stops, lol.
Deva
Terrific call, Mr. Cash. Hats off, once again.~D
KMRT: Got bluffed out and closed my puts at the top of the channel earlier today (102.46). Silly me.
Deva
GE looks good, Chris; however, like all the other stocks I am seeing it looks ripe for the consolidation that Mr. Cash mentioned recently, even if it goes a little higher this week or next.
I put it on my watch list.
I re-opened my GOOG short at 174.00.
GLTY,
Deva
JNPR: re-opened short (puts) @ 29.56. Closed call on KMRT yesterday at a loss @ 102.00, still have puts open (102), also closed puts on GOOG @ 177.11 previously opened @ 187 on Monday.
Good luck, Chris.
~D
KMRT: out of the money puts opened as protection at equivalent of 104.27.~D
JNPR; KMRT:
JNPR: Out at 28.90, even though hasn't reach my stop point. Should db top or even higher today or tomorrow.
KMRT: Opened call at equivalent price of 104.63.
Sorry for talking so much. Too much coffee.
Good luck all.
Deva
KMRT flying since Schaeffer recommended shorting at 81.00, lol, and Christmas season coming up too. Sometimes it pays to be contrary the official contrarian.~D
GOOG: First lock-up for restricted shares released tomorrow, and insiders can sell (up to double current float). Next release in December.~D
Correction: 29.12, not 29.20.EoM
JNPR: VERY conservative short at 29.20. Stop at 29.55.EoM
Techcharter,
Leave the computer, take a walk, go see a movie, and relax!!!!
I wish I could give my feedback, but am too inexperienced; perhaps the other Elliot Waver's here can throw their view cents in on the long term outlook.
If my .05 cents counts for anything, the volume patterns I am seeing look beautiful, almost text book, for a rally into January/February, even if there is an even shorter term consolidation/pause/take down.
Good luck and hope things become clearer for you.
Deva
Airedale, thanks. You and Techcharter must be reading my mind, last night I was reading Chapter three in the textbook where he says it's important to be able to nest upwards from the daily - at that point I decided to discard GOOG as my study aid.
It was interesting though how even the thirteen weeks of data that I initially plotted on GOOG helped me. I noticed that with one exception, GOOG bottomed every 11 days. This helped me (since the current 11 day cycle is UP) to be able to predict, it turned out successfully, an uptrend for goog today in the AM, since my other indicators were mixed at Friday bell, indicating both the possibility of a DB at 178 early am, or a continued uptrend.
Fascinating, and thank you.
Deva
HD28,
I am not an expert by any means, but JNPR looks ripe for some short term consolidation; double top on intra-day, with technical indicators somewhat weaker on the second top. That's what I am looking at anyway. Nxtl too, as it rallied on Friday bell, but can't get seem to get over the 27.80 - 28.00 resistance area. Watch out for NXTL though, I have been playing it a long time, and those MM's have a tendency to drag out it's tops forever and a day, gap it up a dollar or two more again, and then drop it like a rock once you've lost all your $$$$.
Good luck.
Deva
Techcharter,
Thank you so much for your meticulous and comprehensive reply and analysis!!!!!!!!!!! Really, it is somewhat overwhelming.
I have decided to use GOOG as my tutorial aid for both Hurst cycles and Wave cycles, much as Chris does with GE, and have printed out your analysis for further study.
It is a marvel to watch your mind at work and the other expert technicians here too. Once again, my heartfelt thanks.
Deva
Mr. Cash, thanks for the kind wishes. There were big sells near the close, with no take down, and I also remembered your Hurst cycle update earlier today and formerly so I closed out at 27.08 at 3.52 or so. I did well on GOOG today too.
As always, the best of luck.
Deva
Thanks, Mr. Cash. Odd how badly NXTL is doing during this rally; just hanging there like a balloon. Massive distribution? I wonder how much weight it carries on the NDX.
Shorting since 28.00.
Deva
Studying Hurst's book here AND Neely's and going slightly bonkers, lol.EoM
Techcharter,
Thank you! Would you mind telling me on what date wave four and five began and ended on the DT from 200?
You must have read my mind, I was trying to figure it out last night and wishing you were there to help me, lol.
Deva
Out.EoM
GOOG: still in.EoM
G'morning, Techcharter, all. I suppose along those lines your second case scenario (another few months) for FRE would be more feasible, rather than a rapid breakdown in the next few weeks.
Deva
Schaeffer loved this one since 135, great 'call' for him.EoM
Lots of puts volume too, which could fuel a potential rally.EoM
GOOG: potential cup/handle on 30 min chart, if can break through 174 on hv, looks 'goog' till 177. Long since 169.~D
Yes, I see how you got that. I was starting from the high of 2/01/04. However, that would be more of a consolidation than a correction, and yours would be more valid. Might see some (minor) resistance at my point, though.
Good morning,
Deva
lololololo, touche.EoM
LOL, poor Mr. Cash.EoM
Airedale:11,139?EoM