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DSNY chart
AMUT chart
IESV chart
ILA Chart:
BGO: My only beef with it is that its one of those stocks that doesn't seem to move much no matter what. WE had a clear break above resistance, and from open to close, the thing picked up like .15 cents.
its there now. Sorry, had a couple things wrong there.
PTN
SPLN, breaking out
THE BIG DANCE IS ON!!!!!!!!!!!
cgpn on watch
hypd on watch
sctn on watch
cyro theres some help, darn.
cyro: I've been watching it, but other than nite on the bid, it looks pretty scary. The chart looks great, but couldn't pull the trigger.
We always appreciate the non obnoxiousness, if that's a word. Yeah, pay close attention to what people are looking at, ask questions, you'll be calling the runs in no time.
CNU getting close to a break here.
Kind of freaked me out for a bit, looked like everything was either gapping up or down.
any e signal customers missing yesterdays activity? My charts show 3/12 and then 3/16
Watching 180 stocks today, only 36 were green today. Still made some great trades. Gotta love making gains when the market overall is losing. This board is the best.
OT: I'm wondering if anyone knows why MM's would move when there's no sales occuring. Just kind of seems weird to me. I dunno, if someone wants to explain that, that'd be cool
JSDA, might see a pop here
RMSG, completely rocked.
HIET, on breakout watch
RMSG, gap and run. Needs a bit of volume.
CGIH setting up for Gap and Run too. EOM
CIRT: Morning outside gap setting up on level two
FFFIIIIRRRRREEEE
Alright pumper police....
Ready... Aim...
gnac, I like the chart, but it needs some volume.
pardon the ignorance, but what are you talking about?
exactly. I highly respect this person, but it sounded like they just went through and adjusted their settings till the found the one that touched the bottom of the reversal. If you look you'll see all kinds of weird things, the 60 day moving average just crossed the 175 day moving average. So what? Just wait a day, and if you want to play ma crossovers, the 50 will probably cross the 200 and you'll actually have a decent indicator.
Bottom line - people sometimes make up rules of trading to justify their moves. Its natural, its rationalization.
That is a good point, when you stretch the chart out. Also, that break of the channel about a month ago was so clean cut.
I don't tend to play breaks of previous highs from that long ago. It seems like most of the momo has dissapated from it, but not all. just don't tend to play them myself.
yeah, that does look funny. No need for english digrees out here though. I think omni is one of the best, and I think he just rushes, because half of it is mis spelled.
Sorry, I meant to say, "What?!?, whos paying attention to the 18 day moving average, not the ten. My fault. Didn't catch it sooner, or would have just edited it.
I totally will. That's hilarious. The ten is a very common one
my bad
I hear ya, and I loved chipped's post on resistance. I plan on reading it about once a week. Good stuff, simple stuff, just reminders are great.
Its not to say that the majority of people play these breaks of previous highs. I know its common, but I sure see alot more pictues of traingles on here than horozontal lines. No big deal. But the reason the volume is so high on them is because on days where breaks of previous highs happen, you often get breakouts on all three styles. So on breaks of previous highs you get the momo from all of them. But alot of times people buying into a triangle break will do so, and not get any help from the other modes of thinking, because it will never reach that break, or won't be enough for the common MA crossovers. Just a thought.
Heres a good example, I heard a widely respected trader (whom I think is a great trader) make this comment. "That was a great bounce off the 18 day moving average." WHAT?!? Who's paying attention to the 10 Day moving average? That's gotta be at least tenth on the list of moving averages. But the honest truth is, if you keep tweaking with the MA's, you'll find one that the price just bounced off. In this case, it was the 18. I'm just saying, you can't trust that? Its circular logic, its hind sight, its alot of stuff, but its not the new rule of the game. We shouldn't start buying on bounces off the 18MA, but that's what this is implying. Geez, well, sorry, my soap box is crushed now.
exactly, they're all over the place.
I absolutely love it. This is great counter. I've thought of these kinds of situations, and of course I come across them quite a bit.
I would rather tend to play blue sky breakouts. They're just all the more objective, but you can't always come across plays like that.
In this case, if its a clearly defined high, I play the most recent high. If the stock has pulled back for at least two or three days, I consider that previous high a point of resistance.
OPLK does look like a great triangle pattern to be honest, as clear cut as they can get. If you are to draw a triangle on this, you'd get your triangle breakout only a couple points below where the break of the most recent previous high would be.
In this situation. I feel comfortable giving up those couple points to gain the added confirmation of the break of the previous high as well.
After the stock broke, and I took postition in it. I would watch the other two peaks, as well as other points of resistance to look to possibly take profits off the table. (it looks like there might be some previous high, and psychological resistance around the three area, would be paying close attention to it around here, but a break of it would give free sailing for another .25 or so.
On the second stock, I again would consider the nearest high to be a good point on breakout, with the higher high possibly being resistance.
In consolodating patterns like these, I consider the lows to be just as important, if not more important in determining wether or not I would hop into a trade like these. If the most recent low is below the low of the next most recent, it is a sign that the stock is trending downward, and I'm not likely to hop in it, unless other indicators tipped the scales quite a bit. Neither of these have that to contend with, but it is just a heads up in looking for these. You always want to trade on the right side of the long term trend in my opinion.
That's about all I got on this. I am a fan of breakouts of triangle formations. I don't feel its a bad way to play, but in many situations, its just not for me.
I have both of these on my watchlist currently, with breakouts set at both of the most recent highs.
I'm from 30 miles from seattle, but I swear, it was the one armed man, I swear.