Back, for a limited time
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
There goes that 20EMA support on the 15 min chart. Looks like down we go.
Most stocks have been coiling all morning. Right now it's looking like it's building up energy for a move higher, so watch for the gap fill on TWM. You should get some better prices on all your ETF shorts, of course just because the indicators say the market is going higher doesn't make it so.
I think the market will move higher because it found support so far all day at the 20EMA on the 15 min chart. Big resistance on the up move will be at the 20EMA on the 60 min chart. If it gets above that we should have a pretty good move, imo.
Wouldn't surprise me if we get another shot at 80's maybe 75 here again. Probably more wishful thinking than anything, but a gap fill at 86.95 isn't out of the question. Will have to wait for tomorrow to see if this last hour rally is for real. If the market opens gapped down tomorrow I'll be looking for some trades on the long side.
Congrats on your day and have a nice evening.
LOL! You should change your moniker to "DIG-DUG"
Nice. I added to my CHK position at 24.14. and am still waiting to enter DIG long. I missed the bottom today watching TWM and CHK, but hopefully it gets a retest. There still may be more downside but I have a strong belief that O&G are a great long term hold.
Take care.
Rich
Sold my position with over 18% gains today. The market is oversold here and it looks like a bounce may have begun this morning. Too soon to tell at this point, but I do think a bounce is coming. Earnings numbers probably aren't going to be great, but that's probably priced in at this point and the bearishness/panic is pretty high right now. The drop today has been on low volume so far. Both signs of a potential bounce from here, imo.
I didn't find a TWM board on Ihub, so I'll stick here since this board is low traffic.
Have a great weekend.
Rich
Nice job Brad. I grabbed TWM @ 77.14 today. The short restriction rules that were passed have changed the way SKF trades pretty dramatically so I don't like it anymore. Getting more bang for my buck with TWM now. I'll be hanging around the TWM board from now on if there is one.
Take care.
Rich
I agree wholeheartedly with everything in that. I just keep averaging down here with every drop...and loving it!
Take care.
I agree with you Trueheart, which is why I stressed the "technical" perspective here. The overall economic situation we are facing certainly trumps any technical view. NG does seem to be holding up much better through all of this, unfortunately this stock has been ignoring that and moving with the overall market instead.
As for the polar bears, how about we send them to Washington instead...and make sure they're REALLY hungry!
Take care.
Rich
FWIW, from a technical view, today we retested the 62% retracement of the range between the 7/02 lows and the 7/08 highs. A monthly chart shows that from late '05 to early '07 CHK was in a long consolidation range between about 26.50 - 35.50, so the stock could find support anywhere in that range. If we move lower from these recent lows we're likely to head for the 28.50 - 27 range.
imo
Nice one.
Wish it were me, but I don't know.
OT CHK: Obviously the IHS formation is dead. em
So much for that.
Rhetorical question, imo. I subscribed here only for the unlimited iggy feature. Well worth it.
Did so also about 97.50. Think we'll get a better spot Monday if "the" news is announced. Looking for 92 - 90 range or better.
Enjoy your weekend!
Rich
I'd prefer to see it go up!!!
That was me. Sorry. I get gassy when I'm nervous.
;-P
Low of right shoulder formed here? I added at $38. em
OT: Re CHK...
Key place here for this IHS (inverted head & shoulders) now. If we hold todays lows then it's playing out perfectly and the low of the right shoulder is formed. I bought some near the low today in case this plays out.
Elrac...
Depending upon your take on the power of the SEC up to this point, you might find yourself wondering what would really change other than their actions, or non-actions, would be made legal.
Won't change a thing, imo.
Thank you. em
OM...Do you know of any good newbie options books to recommend. I've never traded them but would like to learn.
TIA & Have a good afternoon.
Rich
OM: Of course I never know, but I find it hard to believe we see gas go much lower into the winter months, so it lends some credence to the formation. I'd like to see a test around 38 - 39.
RIMM just got hit hard. Must not have had good numbers. Unless their guidance is good I'd look for a gap down on the open tomorrow unless the bailout gets announced.
Another possible Inverted H&S play for you guys...
Inverted head & shoulders bottom potentially forming on CHK. More easily seen on the 60 or 120 min chart. 42.50 breakout with about a $7 target if the formation plays out, imo.
Looks like oil & gas has been moving with the market today...at least the plays I watch (CHK & DIG) have been.
Rich
Inverted head & shoulders bottom potentially forming here. More easily seen on the 60 or 120 min chart. 42.50 breakout with about a $7 target if the formation plays out, imo.
There's a saying that goes something like, "You always get what you always got when you always do what you've always done." As is the usual case with our government, nothing here was resolved, although anyone getting caught up in the CNBC blabber probably doesn't see that and most likely doesn't even consider it.
If you guys are interested, here's a link to a guy who has been absolutely nailing the market calls lately. I have been paying attention to his commentary for years and most of the time he is right.
http://trendtradingtowin.blogspot.com/
DITTO! The only thing that will come of a rally on the news of the bailout is give shorts an opportunity to re-load as well as giving business executives higher prices to "bail out" of their stock holdings.
imo, of course.
Thought some here might find this perspective interesting about the Berk deal...
http://trendtradingtowin.blogspot.com/
Nice job. Free shares makes all the difference.
I wish you the best trading those pigs. For me, the market is rigged enough as it is. Trading troubled companies that I can only go long on is, for me, asking for trouble. I won't touch them.
As they say, there are plenty of fish in the sea.
That article explains where a good chunk of the volatility went with this stock. Where once SKF was a wild beast, it now trades like a tamed, docile animal. Not bad for swings but certainly not the 100mph roller-coaster ride that I enjoyed and profited from before all of the non-sense began.
Thanks West. Been accumulating DIG as well.
Doubled up my position today. Technically the stock is showing early signs of a bottom. Nice to see the volume pick up a bit lately.
Again, the most pertinent word is "appear". They may not be doing anything, or they might be doing a lot. I'm not an insider so I don't know, nor does any other non-insider...I would hope.
Have a great weekend.
The key word in your post is "appears", imo. I may be wrong, but it might be beneficial to consider who owns each company, the share structures and certain situations regarding the share structures. I believe these considerations are why MDMN is the more vocal of the two companies up until now.
Considering your initial question ended with "in the end", my answer is no, although MDMN may move a higher percentage due to the starting share price as compared to CDCH. I would also expect MDMN has a higher possibility of moving more explosively and with more volatility, which is why I'm invested in CDCH and intend to trade MDMN once the fun starts.
LOVE this ETF!!!