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with the exception of perhap you and cindy, all others have given various reasons as to why they haven't participated, yet during the same time frame, they have no problem spending their time at the jerry springer show...their actions speaks before them, this board is not really what they want.
the board is open to anyone that wants to moderate it and turn it into whatever...
the one indicator on the Daily that leads me to believe that there are a few days of appreciation ahead and perhaps enough to confirm a reversal would be the elevation of ADX(7) and the DMI- (the chart is 14, change it to 7) ...they have never been that high and don't typically sustain at these levels...
i am hedging that the weekly shows the down trend exhaustion and the daily is pinging that...i would expect a consolidation at 9 to 9.50 before seeing if it challenges the upper trend line...which would be more than taking a breather...a breather would be a failure in producing either of those two conditions off this hammer...
i am not looking at monthly data.
havin fun yet?
divergence in play....
i took WMG from mattie's list to hopefully give example to finding weekly diverged conditions that yield strong reversal candidates...let's see how this play out...i have no fundamental knowledge of WMG, other than who they are...(both of these chart are static)...i should also note that the hourly RSI is approaching 50... (three time frames, 3rd not shown)
one has to have different strategies to be flexible with the market or you wind up sitting on your hands some percentage of the time (and that can be a good thing too)...my favorite tool is divergence, as you can use divergence across many indicators to assess the probability of what it is you think you are seeing come to fruition....divergence can be bullish or bearish...but it all has to be qualified, up front, with the trade window you want to use...if you want to trade a 10day swing, you better not sit in front of L2, T&S and tick charts all day, or by the third day you'll likely be off on your plan...
when i need to sanity check myself, i always back up a time frame and jump forward a time frame and reassess...that's something i learned from the good dr. ...but even after all that, there are times when i 'just know' better and break rules...lol
i also try to stay with stocks that don't require 15m share trades to move it 50c...i want high volume, low float stocks as a general rule, and then i butcher it up from there...lol
mattie, i wanted to go back and revisit this post...it isn't a matter of whether i like them or not...i just thought you should set a parameter that triggers earlier in the down trend...if you take a look at the weekly on the charts off that list you provided, you'll see that many of them are becoming exhausted, imo, which would increase risk on a short position...jfyi
thanx teah...still difficult being that she was my only trading buddy thru the day, but enough of all that.
i always enjoy your gift of gab...your presentation of perspectives is inciting, relative and without monotony...
i really don't know of any trader that doesn't violate at least 20% of the basics due to "knowing better" for all the wrong reasons...but you and i, and a few others, understand cutting losses and taking profits is the management end of it.
when trading migrates from buying the dream to trading the reality, it's probby one of the first big gulps a new trader takes...being responsible to a plan by holding themselves accountable...that's when the questions marks seem uppercase....lol
if money continues to play musical chairs and the dolla doesn't begin to improve, it will be toilet paper, toothpaste, pastries and liquor for me...the first two for security, the latter two for the "impacted" citizen's bandwagon...
it appears that PEIX (from the recent Q) has lost their butts on their hedging that was written into cost of goods sold...they do own 46%? of Front Range and my understanding is the the bulk of the problem isn't only corn price, but tansportation, as it has to basically by done by rail car...(BNI and TRN, i believe have backlog on ethanol cars to be built)...and PEIX, on the weekly, has been Histo diverged for a while...i can't help but think that a reversal or a buyout by big oil is near...
loved dem good ole days!
i have a TDA Apex account and a TDA Izone account...if you combine your accounts into TDA (if that qualifies for the Apex), then you'll get not only the services you are looking for (including the Advanced Analyzer), for free, but the ability to define your trade requirements, like OCA...i don't particularly like the terms for building your own scans/screens (you call it "picker")...but between TDA and stockcharts you can be deadly.
those aren't earnings...lol...same old, same old, 300k in less in losses so far this year, whoopie...where is the first site acceptance approval? where are they in the DOE application submission? are they halted until the lawsuit issue is resolved? inquiring minds want to know...not to mention shareholders...at least they waited till the market closed.
ok then, but i thought you should know that the list really looks more like a bottomfishing list...we can discuss if you are interested.
following trends of substantiated liquid companies is certainly the objective...though for a short daytrader volatility is best when you find companies with peaks beyond reason, like SPWR...i raised that flag the other day...would have been a great short...
MNI would appear to be very happy just groveling along eroding value, so i assume you are looking for less risk/reward senarios...which is safer, but lacking some of the adrenaline byproducts...