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Here's what came up. I can see the Dragon in MHS Medco.
http://stockcharts.com/candleglance?RX,MHS,LH,DOW,CRI,CR,CIT,CECO,BOBJ,ASCL/D
Now need to investigate (aka DD).
Hello Chi, missed u today and glad there were no 'accidents'.
I found LEND last night with a stk scan. I'm looking for possible short candidates. My parameters are as follows:
Trading between $20 and $80.
Trading at 52 week high.
Up at least 1% for the day.
Volume of at least 1,000,000.
After running the scan I type the results into a CandleGlance screen and look for top forming chart patterns.
Then back to CBS MarketWatch to look at fundamentals and profile.
Pick out a couple and watch them the next day.
This is the main reason I wanted info on Level II. To get an idea of what MM are doing when these stks make new 52 week highs. I just bought another computer today and will be opening an account with Ameritrade for their Level II. I'll use Scottrade for the live charts and trade with RJT. I like the way the execute my trades.
Several stks came up but I liked LEND because of it's business and the 'cup' formation. Would have been a good short today. The engulfing candle is negative and it may still be a good short on Monday. LEND may also create a handle over the next couple of weeks so there may be a good long play here also.
After you posted the Dragon chart I looked at LEND at sure enough the Dragon was there at the bottom of the 'cup'.
I'm going to run my scan now and get back to the board.
This article is dated 10/03/03, but still a good read.
http://www.financialsense.com/stormwatch/update.htm
China charts
I heard on the radio that there is a China index ticker symbol in the works.
http://stockcharts.com/candleglance?ACH,ASIA,ASTT,CBA,BYH,CEA,CEO,CHDX,CHINA,CHL/C/B14
http://stockcharts.com/candleglance?CHO,CYD,HNP,JCC,NTES,PTR,SHI,SINA,SOHU,XING/C/B14
http://stockcharts.com/candleglance?YZC%20,ZNH/C/B14
Smart money going to China
USX China Index Launched Today - Is the Only Index Devoted to Chinese-Focused Public Companies Traded on U.S. Stock Exchanges
Monday October 20, 6:00 am ET
DALLAS, Oct. 20 /PRNewswire/ -- In response to growing interest among investors in publicly traded securities with operations in China, the USX China Index was launched today as the only index in the world devoted exclusively to Chinese-focused public companies traded on U.S. stock exchanges.
While the USX China Index will be available for newspapers and financial media worldwide, investors will also be able to access the index via the Internet at www.usxchinaindex.com starting today.
"The birth of an index devoted exclusively to Chinese-focused publicly held companies with their securities traded on U.S. stock exchanges was long overdue," said Tim Halter, managing director of the USX China Index. "It's appropriate that we launched the index earlier today in Shanghai, China, at a news conference. The response there has been very enthusiastic. There is a need and demand from investors for this unique index. We anticipate a positive response throughout Asia, North America and elsewhere."
He noted that China has the fastest-growing economy in the world. In 2002, China surpassed the U.S. as the largest recipient of direct foreign investment, an indicator that "smart money" is rushing into China. "In contrast to the gloomy mood in the U.S. the past few years, in China I see people with a twinkle in their eye as their country experiences an economic boom of historic proportions," Halter said.
Nowhere is this more dramatically reflected than in the results of the USX China Index for the past 52 weeks. For this period, the USX China Index was up 136% compared to Nasdaq and the Dow Jones Industrial Average, which were up only 52% and 22% respectively for the same period.
"The stocks in the USX China Index offer investors the opportunity to invest in China with the safety of the U.S.-regulated securities markets," Halter explained. "All of the companies in the index are public reporting companies that have their stocks traded on U.S. exchanges which are governed by the Securities and Exchange Commission."
Initially, 22 public companies will be represented in the USX China Index. To be included in the USX China Index, companies must meet the following criteria:
* Their primary business is conducted in China.
* Their common stock is traded on U.S. exchanges
* Each company's market capitalization is more than $50 million
* The company is approved by the USX China Index selection committee
which considers additional factors such as trading volume, public
interest and shares available to the investing public.
The following 22 public companies comprise the inaugural USX China Index:
Aluminum Corp. of China Ltd. (NYSE: ACH - News)
AsianInfo Holdings, Inc. (Nasdaq: ASIA - News)
ASAT Holdings Ltd. (Nasdaq: ASTT - News)
Brilliance China Automotive Holdings Ltd. (NYSE: CBA - News)
Sinopec Beijing Yanhua Petrochemical Co. Ltd. (NYSE: BYH - News)
China Eastern Airlines Corporation Ltd. (NYSE: CEA - News)
China National Offshore Oil Corp. (NYSE: CEO - News)
Chindex International, Inc. (Nasdaq: CHDX - News)
Chinadotcom Corporation (Nasdaq: CHINA - News)
China Mobile Hong Kong Ltd. (NYSE: CHL - News)
China Unicom (NYSE: CHU - News)
China Yuchai International Ltd. (NYSE: CYD - News)
Huaneng Power International, Inc. (NYSE: HNP - News)
Jilin Chemical Industrial Co. Ltd. (NYSE: JCC - News)
Netease.com, Inc. (Nasdaq: NTES - News)
PetroChina Co. Ltd. (NYSE: PTR - News)
Sinopec Shanghai Petrochemcial Co. Ltd. (NYSE: SHI - News)
Sina Corporation (Nasdaq: SINA - News)
Sohu.com, Inc. (Nasdaq: SOHU - News)
Qiao Xing Universal Telephone, Inc. (Nasdaq: XING - News)
Yanzhou Coal Mining Co. Ltd. (NYSE: YZC - News)
China Southern Airlines Company Ltd. (NYSE: ZNH - News)
These companies represent a wide range of industries, from energy and high tech to diversified services and transportation. In addition to benefiting from the booming economy in China, investors are also aware that China's currency, the yuan, is artificially undervalued. Experts predict at some point in the near future, China will allow its currency to float, which would translate into a sizeable increase in profits as the currency is revalued in world markets
Homebuilders are flying. Looking for a top.
http://stockcharts.com/candleglance?CTX,DHI,LEN,NVR,PHM,WLS,RYL/C/B14
U.S. home building sector soars to new high
10/23/2003 2:21:16 PM
NEW YORK, Oct 23 (Reuters) - U.S. home building stocks on Thursday surged to a record high after several companies, including No. 1 ranked Pulte Homes Inc. (PHM) , reported quarterly earnings that showed the market continued to sizzle, despite higher mortgage rates.
The Dow Jones U.S. Home Building Index <.DJUSHB>, a broad measure of U.S. home construction companies, reached a record high of 548.92, up nearly 4 percent.
Pulte shares rose $6.43, or nearly 8 percent, to $84.44 in early afternoon trading on the New York Stock Exchange, after having traded as high as $84.70. After Wednesday's market close, Pulte reported third-quarter earnings that were 42 percent higher than the prior year and also raised its outlook for the full year.
Earlier in the week, Ryland Group Inc. (RYL) and Centex Corp. (CTX) reported stronger earnings. On Thursday, shares of Ryland were up $2.21, or 2.7 percent, to trade at $86.61. They set a record high of $86.65 earlier in the day.
Centex shares were up $3.85, or 4.2 percent, trading at $94.75 a share. Earlier, its shares reached a record high of $94.80.
"I think shorts must be covering or something," Natexis Bleichroeder Inc. analyst Barbara Allen said.
The earnings reflect orders taken three to six months ago when mortgage rates were coming off their historical lows, she said.
"People who know this industry should have known that earnings would have been very good," Allen continued. "This is probably the best quarter for earnings that the group will report this cycle."
This is interesting,
http://www.stockcharts.com/charts/performance/SPSectors.html
SPDR's
http://stockcharts.com/def/servlet/SC.web?c=XLY%20,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&a...
http://stockcharts.com/def/servlet/SC.web?c=XLP,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=XLE,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=XLF,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=XLV,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=XLI,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=XLB,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=XLK,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=XLU,uu[w,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
A few stocks from different sectors.
HOMEBUILDERS:
http://stockcharts.com/candleglance?CTX,DHI,LEN,NVR,PHM,WLS,RYL/C/B14
TECH:
http://stockcharts.com/candleglance?YHOO,MXIM,ALTR,MERQ,JBL,QCOM,SDS,SFA,ERTS,CTXS/C/B14
http://stockcharts.com/candleglance?ADI,PAYX,QLGC,CA,LLTC,VRTS,SYMC,NSM,INTC,FISV/C/B14
http://stockcharts.com/candleglance?PKI,WAT,ADBE,BRCM,CTL,DELL,EMC,TMO,TXN,XLNX/C/B14
HEALTH:
http://stockcharts.com/candleglance?AMGN,BSX,GDT,GENZ,SYK,AGN,ZMH,HUM,MDT,WPI/C/B14
http://stockcharts.com/candleglance?MIL,MCK,BOL,HMA,STJ,BCR,MEDI,HCR/C/B14
BANKS:
http://stockcharts.com/candleglance?COF,KRB,MBI,PGR,SLM,MER,ZION,GDW,SNV/C/B14
AIRLINES:
http://stockcharts.com/candleglance?ALK,AWA,AMR,CAL,DAL,KLM,NWAC,LUV/C/B14
MATL:
http://stockcharts.com/candleglance?FCX,NEM,SEE/C/B14
4godnwv, th'ks for the class. EOM
I've found a web site with varies points of view. Click the 'Archives' button at top of page. Some rather current opinions.
http://www.investmentrarities.com/bestofjt10-13-03.htm
Chichi2 th'ks for all of your help. EOM
4godnwv th'ks that is my plan also. EOM
OFC th'ks for your post. EOM
Chi, I was overwhelmed by the responce to my questions regarding Level II. Thank you for conveying my appreciation to the Dr. Bob SI board. I will strongly consider FLACK's comments along with those of other posters. Also, fantastic links that will keep me busy all weekend. Thanks again. Ed
Thanks to all for Level II info. EOM
From "Trading for a Living" by Dr. A Elder
"If your mind is not in gear with the markets, or if you ignore changes in mass psychology of crowds, then you have no chance of making money trading."
"You can succeed in trading only if you handle it as a serious intellectual pursuit. Emotional trading is lethal. To help insure success, pratice defesive money management. A good trader watches his capitail as carefully as a professional scuba diver watches his air supply."
"Sucessful trading stands on three pillars: psychology, market analysis and trading systems, and money management."
The above is from the introduction.
Question to the board.
Does anyone have a link for information that explains how to use Level II information. How about a book maybe ? I just want to do some ground work before the expense of Level II.
Does anyone have a favorite Level II service provider? TIA
I'm just curious, how many traders on this board use two computers?
One to monitor Level II and the other to monitor a real time stock chart ie Scottrader. I feel that I'm missing opportunities to make money on short term trades and that the above mentioned arrangement would help.
Hello Dimension,
Please provide a link to the web site you use for obtaing current OI on individaul stocks. I'm short on YHOO and want to see how the OI may affect the close price on Friday. Also what are the effects of high or low OI. I already know that the Max Pain point is around $35 but I can't see it going that low before Friday's close. Not to say I wouldn't like that. TIA
Some words of wisdom on risk management
from Dr. Alexander Elder "Trading for a Living" chapter 10:
"You need to use your intellect instead of trading on gut feeling."
"A real professioanl does not get too excited about wins or losses."
"You need to concentrate on trading right-and not on the money."
"Each trade has to be handled like a surgical procedure-seriously, soberly, without sloppiness or shortcuts."
"Professioals tend to run as soon as they smell trouble and re-enter the market when they see fit. Amatures hang on and hope."
"Serious traders place a stop the moment they enter a trade. As time passes, stops need to be adjusted to reduce the amount of money at risk and to protect a bigger chunck of profit."
"Losers who move stops away from the market vote in favor of fantasy and against reality."
"A stop will not protect you from a bad trading system; the best it can do is slow down the damage."
"Avoid all trades where a logical stop would expose more than 2 percent of your equity. This includes slippage and commissions."
What a great book to read over and over. I bought this book and read it the first time in September of '99, but I was a 'green horn' with a new computer in a bull market and still managed to lose money on a regular basis. A lot of times I felt like a deer staring at oncoming head lights. I take risk management much more seriously now.
Another view of BPIs. The first set contains major markets or indices for comparison. Note the relationship of a high RSI on the BPIs and change in major market direction ie near April 2002.
http://stockcharts.com/def/servlet/SC.web?c=$INDU,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&am...
http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&a...
http://stockcharts.com/def/servlet/SC.web?c=$SPX,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=$OEX,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=$NDX,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=$NYA,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=$BPINDU,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&...
http://stockcharts.com/def/servlet/SC.web?c=$BPCOMPQ,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]...
http://stockcharts.com/def/servlet/SC.web?c=$BPSPX,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&a...
http://stockcharts.com/def/servlet/SC.web?c=$BPOEX,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&a...
http://stockcharts.com/def/servlet/SC.web?c=$BPNDX,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&a...
http://stockcharts.com/def/servlet/SC.web?c=$BPNYA,uu[h,a]walayiay[df][pb20!c10][vc60][iLl10!Lb14]&a...
Chi, thanks. EOM
Hello Chi and gang, enjoying this board and board marked at # 67. The article that this message is referenced to mentions the current QQQ option Max Pain point being at $34.50 . Are you aware of a web site were I can find the current YHOO option Max Pain point? I used google but did not find exactly what I'm looking for. That is a site were I can type in a ticker symbol and find the Max Pain point for current futures. I did find this and you may want to add it to your libary. TIA http://investopedia.com/university/options/
Kaye, thanks for your responce. When all else fails, read the instructions! And that's what I did to come up with the following for GFI:
01/01/02 to current
6250
10
100
9
3
500
500
4
-5
My plan is to use X_DEV in conjunction with other chart web sites and my own developing method of trading stocks. World events brought GFI to my attention and I've taken a short term position at $12.50. Current stop loss is at the 10 day moving average $11.80. Notice on the accompaning chart how the stock price tended to climb between the 10 day bollinger band and the 10 day moving average. I'll continue to adjust my stop loss and sell when the two lines cross. Good or bad, that's my plan. :) http://139.142.147.218/HistoricalChart_Image.dll?interval_min=5&cus=0&indexSymbol=&secur...
I like the current MACD on this one too.
On the StockWerld site, not to long ago, Myst posted his thoughts about using a 10 day, 1 hour chart with 8 and 16 EMA moving average for fine tuning buy and sale points. Thanks Myst.
I'll be using this as another sale signal. It's also great for fine tuning buy signals. http://www2.marketwatch.com/tools/quotes/intchart.asp?symb=gfi&intflavor=advanced
I've been listening to Moe Ansari on AM radio 830 here in Los Angeles between 3:00 and 4:00 PM weekdays. Moe is right when he says "Buying a stock is the easiest thing to do, it's when to sell that's the hard part. A trader has got to have a plan when to get in and when to get out." Hope you have a chance to listen to Moe someday. http://www.google.com/search?hl=en&lr=&ie=UTF-8&oe=UTF-8&q=Moe+Ansari&spell=1
Kaye, I like your picks. What do you think about GFI? I tried to create a 'schedule' for it but couldn't get the buy and sell points to match up with historic lows and highs. Also like LEXR, FLEX and SGI. Like that NVDA and DFIB too.
I'm using CBSMarketWatch.com to scan for stocks trading between 3 and 15 dollars, up 1%+, trading 100000 + shares and making new 52 week highs. Looking at technical, fundamental and profile for companies that may play a part in HDTV and medical care for us baby boomers.
One of the many things that I'm doing different this time is leaving 5 to 10% of each positive long trade behind for stocks that I like. This way I'm making money and building a long term portfolio at the same time. Also keeping a tight stop loss for the first day or two of the trade and then moving it up into the green. Capital presservation, I learnt my lesson on that one. :) Thanks, xe.
CFW broke out of an ascending triangle, new 52 week high and 10 x fifty day average daily volume. New line of products. Currently holding a 50% position.
Looking at DOC. Nearing resistance at $3.50, 6 x fifty day average daily volume, GPS technology and network could be used or upgraded to track/monitor international cargo containers. It's a long shot and would look better breaking the $3.50 mark on higher volume. May take a 50% position tomorrow and then add to it next week if it moves up. Will keep a 10% stop loss or sale for a profit near the next overbought point.
Check the above out and comment, if you like.
Myst, In regards to post # 3394, I've received the X_DEV software. Thanks, and looking forward to sharing stock picks with this board.
xe2dy.
Myst, I just finished downloading the trial X_DEV software and decided to buy the program. After going to Pay Pal I received a conformation e-mail. The problem is that when I try to uae the X_DEV program I can't get past the QQQ chart! I want to follow SGI and LEXR. What do I need to do now in order to use the program? I have been familular with StockWerld for two years now, you may recognize my screen name as we have had a couple of e-mail conversations. I really don't mind the program cost as I'm happy to provide you and yours with some compensation for building and maintaining the website. However, I do want to get my money's worth and I know that you too want to see sucessful costomers. I will be looking forward to information as requested above. Also like FLEX and GNSS.