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If it is in the money, typically your broker will exercise it for you.
DECK has broken through a neckline in head and shoulders pattern. It might be up for a couple days but long term I think it is going down.
Why do you think it is a IH&S and not a double bottom?
I know, I posted that it had a massive head & shoulders pattern last week. But since it dropped so much today, I think it might see a small bounce tomorrow.
I didn't say I was going to buy it, but the trend is down.
I think DECK might get a bounce tomorrow.
Deck did get a great bounce today, but it is still in the right shoulder of a massive head and shoulders pattern.
DECK had a bearish engulfing candle today, although it is pretty oversold already.
Where are you seeing the double bottom? doesn't it need to have a prior downtrend first to be a DB reversal?
Looks like a H&S pattern on the weekly too...
To both breakout and MTT, I try trade with fundamentally strong stocks only. So in an uptrend I would say they would have a chance of being overbought longer. If you look at AAPL, and only take the oversold conditions:
Mid March 2011 you could buy around $325, and in less then 1 week you're up 5%, 2 weeks the stock moved up roughly 10%.
Mid April buy in around $320 and in 4 days the stock moved up 10%
Mid May get in around $333 and in 4 days the stock is up 4%
Mid June buy in around $310 and in 4 days the stock is up about 7%, in 4 weeks about 20%
Early October buy in around $355 and in less then 2 weeks you're up 20%.
Buy Mid November at around $365 and the next day you're up 2-3%, 2 weeks about 9%.
It does somewhat work with this stock when over bought, but it doesn't have the same success rate or ROI. But again, I've really only tried this on the fundamentally strongest stocks.
I always decide when to enter and exit on a 5 and 1 minute chart. The daily tells me what stock to watch. Usually I'm looking for a quick bounce, but it isn't unusual to get a 5% bounce in a couple of days.
If you look at the chart for QCOR, a fundamentally strong stock, you can see there are multiple times to look for entry and exits. I'm just eyeballing the candles, but on 1-7-11, you could have shorted when the stock was around $16.5. By the next Thursday, you could have sold at aound $15.25, about a 7.5 % move down. Early Feb of 2011 you could have gone long when the stock was around $14 and sold 2 days later with about a 5% move up. I'm not a fan of using this to play gappers until support or resistance is found. Look to Mid May, it got up to $24.93. and 2 days later it was under 22 - over 10% down in just 2 days. There are a couple that happened in 2012 with this stock that had roughly 20% moves up in less then a week.
RSI (10) is under 30 and under standard bottom bb is when you look for an entry.
Yes, I set RSI to 10 and have standard BB. when the RSI goes under 30 and the price falls under the bb, i look for a good entry point. I've been doing it for over a year and it has a good enough success rate for me to keep using it and post it here ;), and yes it does work on shorts too.
Jimmy do you personally teach at that website/message board?
Will you let your free members upgrade or do we need to do that now?
A lot of times futures flip overnight.
Can you do a chart of CELG please?
Wow...thanks for finviz, I didn't know about that. Looks like a great screener!
Thanks for the heads up, are you going to make any boards for any other type of chart pattern?
Down. BTW the FXI inverse H&S pattern I posted a couple days ago has clearly broken through any neckline.
Awesome idea for a board, I'm following. Check out CVX and FXI for IH&S patterns just under their necklines.
Got my ballot today, but it didn't have a return envelope.
ATRO, BWLD might potential "pincher" plays
I've been looking that over and it looks like when the MACD and ADX both go way up it might be a good time to short?
Just look on any stock's chart, more often then not it hits.
What do you set MACD and CCI to?
From what I've seen, not as well as when you go long.
Thanks, I'll check into all that. Let me give you one technique I like: Set RSI indicator to 10 and put on standard Bollies. When RSI dips below 30 and the price drops below the bottom bollie, it is a very good time to look for entry, and you can make a quick profit. ***I would be more cautious when bad news like you currently have with Google.***