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I can't help but be confindent with the specific narrow and tight pincher setups as I just don't see them fail. Every time I see those setups on a historical chart, I see where the price moved fast, hard and high at some time point close to the most narrow point of the pincher gap. So then it's all about other indicators and intra-day triggers. Looking back, I can't believe I chicken-shitted out on NG, but the fear factor is the hardest part of trading for me. I've screwed myself more than a few times talking myself out of holding or entering very promising high potential plays.
Nice job if you entered NG early! Nice even if only early today!! Best of luck to you in all your trades!
cmkxman
I picked NG JB1992 and even bought in a week ago at .51 only to sell off at a few % loss on it at .48 during a shake and not attempt a reentry either the next day or couple before it's big launch. I feel sick about it to say the least! Crable and I discussed NG before it's pop and I took a stab at, then shook it off my knife to see the dogs run off with it.
So I'm now putting my money where my mouth is on my official pick ZLC and I'm going to see how much pain I can endure for a percentage loss before the pincher proves positive. I'm even going to average down on it....lol. Anyone want to join me in ZLC to help me win the contest? LOLlolol
cmkxman
I did exclude http in my chart post address. The post you replied to is all f'd up from what I typed into the post. Frustrating!
cmkxman
JB1992.......I used the "
cmkxman>
Say but was the deadline good for Colorado time? lol
cmkxman
Ok what did I do wrong? eom
cmkxman
My contest pick: ZLC
cmkxman
Thanks very much for the comments on the brokers fellow traders. I'm going to recommend E-trade to my oldest son and see if he has greater benefit from E-trade than I from TDAtrade. If so, I'll open a second account using E-trade and TDAtrade.
cmkxman
Recommending an online brokerage to my son...........Scotttrade, E-Trade or TDAtrade? Who has best "tools" and charts, etc? Any preferences or strong prejudices from anyone regarding the three brokerages? I use TDAtrade and it works for me but which of the above is best? TIA
cmkxman
NG......just another perfect pincherplay. eom
cmkxman
That's why I'm here lindy! Good luck to us all!!
cmkxman
Yeah taylormade...I did too. And then I bailed at .48. I'll probably come to regret that since it seems to be holding up now.
cmkmxman
Oh Santa.....it's a lump o' coal compared to the near 50% on NOBL! But thanks for trying to make me feel better. lol
cmkxman
Glad I made 10% on CSU 'cause I totally missed out on NOBL. Another big one I missed here at the university. Sheeesh!
cmkxman
So you're thinking that CSU won't gap up tomorrow, break 2.93 and really run from there huh? I don't have stockcharts.com to watch from now so I'm using my charting tool with TDAtrade and I can't get a good feel for what to expect with CSU. That was part of why I bailed. I hope I didn't talk you out of it or rattle you.
Bob
Thanks lindy10. I'm wondering if my account hasn't been hacked. I'm e-mailing support at stockcharts.com now.
cmkxman
Anyone else unable to log into stockcharts.com?
cmkxman
I've noticed that. LOL eom
cmkxman
And now book value counts? Seems to me it hasn't counted for the last 15 years of trading in the U.S. securities markets. It sure didn't count to Cramer when he was pumping all those overinflated dogs on his carnival show. Cramer's an overinflated asshole!
cmkxman
In CSU at $2.53. Big ask $2.55 block gone now and at $2.59. Now that block is gone!! I do love the pinchers!
cmkxman
Is there anybody out there?
ANN is my perception of a perfect pincher! The PPO and ADX are nearly touching. Nice find crable!!! Low of day is within one percentage point of ten year low presented two trading days ago. Now to see if my perceptions are accurate to reality and see if $3.88 holds.
cmkxman
Thanks and check your pms Santa. Btw dear Santa.......all I want for Christmas is a meeeeelion dollars. Looks like my $78 order is going to fill!
cmkxman
I was finally able to pick up BGZ at $81 a few minutes ago and now it's down to $79. Is it still a buy and hold at the University or did I miss a sell alert? I'm trying to pick more up at $78. Am I missing something?
cmkxman
Obama.........our savior! LMAO!
cmkxman
Re: pincher plays..........FNSR looks to be a good one. Check it out on the "House of Pinchers" board. I think there will be many more relatively safe "pincher" plays in the weeks/months to come and will possibly be a safer bet than betting on fundamentals. Just my thoughts.
cmkxman
In FNSR at .31 believing it's found a bottom at .29 for at least another run to the 13dma if not better as long as the broad markets don't collapse taking every stock to the gutter.
cmkxman
F and GM aren't up like they were earlier today are they. I'm out everything I can be. I got one triple zero stock left in my TDAtrade account to request the cert for so I can write down my bottomfishing stock picks on the back of the cert while waiting for a final and true bottom on the INDU and NASD charts when I really believe I see one. GLTUA.
cmkxman
How many legs down does a DOW have? I forget.
cmkxman
"FNM double bottom or......" LOL A most excellent question! I picked a little up at .46 yesterday (not expecting it to go up today) and I've got an order in for an equal amount of shares at .36. I'm certainly not borrowing against my home mortgage to stock up on shares on margin, but it's worth taking a "healthy small risk" at its previous 7 year low for me. If it gaps down from that 7 year low over the next couple days, I won't be taking a huge dollar loss and I'll look for the next bottom to cost average down. What a crazy fear-for-all market!
cmkxman
Thanks $heff for those small cap mentions!
cmkxman
A positive angle or perspective on buying LEA at the current pps is that insiders were buying just a couple days ago. Surely they know that the auto industry is slowing down. Does buying their own stock now mean they are stupid or do they see a bottom here at these prices considering their book value, etc.?
Institional Transactions for LEA
Buy(P) /
P 2008-11-12 2008-11-12 13:23:00 LEAR CORP LEA Simoncini Matthew CFO 15,000 $1.57 $23,550.00 20,344 view
P 2008-11-11 2008-11-12 08:28:36 LEAR CORP LEA SALVATORE LOUIS R officer (Pres, Global Seating Systems) 7,950 $1.44 $11,448.00 37,812 view
P 2008-11-11 2008-11-12 08:28:36 LEAR CORP LEA SALVATORE LOUIS R officer (Pres, Global Seating Systems) 4,500 $1.43 $6,435.00 29,862 view
P 2008-11-11 2008-11-12 08:28:36 LEAR CORP LEA SALVATORE LOUIS R officer (Pres, Global Seating Systems) 22,000 $1.42 $31,240.00 25,362 view
P 2008-11-11 2008-11-12 08:25:12 LEAR CORP LEA ROSSITER ROBERT E CEO 100,000 $1.40 $140,210.00 349,137 view
P 2008-11-07 2008-11-07 17:03:38 LEAR CORP LEA ROSSITER ROBERT E CEO 225,000 $1.78 $400,815.00 242,144 view
http://www.insidercow.com/
cmkxman
Back in LEA this am. If it doesn't break it's low of $1.25 a few days ago, I'm holding to see if it can't work its way back to the 50dma over the next few weeks. It's playing around it's previous bottom now as I post.
cmkxman
Are there any stocks out there where the chart shows an incline on the 50 and 200dma moving averages vice the dow INDU and NASD averages and the mass average companies stock charts out there which present moving averages that are steadily on the decline? Please don't hold back now if you know of some!
cmkxman
LEA looked very good to me yesterday, but today with the long term bad news on the auto parts/auto makers forecasts, lack of cash inflo, lack of increased revenue, I see no reason to trust it has bottomed for sure today. I'm out on this "bearish belt hold" candle, at least for now. If I'm wrong, it won't be the first time. Good luck to all.
cmkxman
That wasn't very nice mr kabillion! Sheesh.
cmkxman
Nice end of day accumulation over the last couple hours for LEA. It looks like we may now be breaking above previous intraday resistance. Looks like a very nice close and that the "morning star" candle pattern is going to stick for today.
cmkxman
I turned my nose up at LEA when you first announced it, but I bought into it today @ $1.62 as the chart presented a "morning star" candle formation today which is a bullish bottom reversal pattern. The company stock had a book value of $14.67 as of end of sept 08 per clearstation.com. To compare, General Motors has a book value of -$98 also per clearstation. I'm not declaring a bottom here, but we have strong indication that we may have found a bottom here in LEA. If we can trade above the 13dma, it's all good, imho. Very nice pick chartinator!
cmkxman
Ooooh I hope it's good when it happens...........
cmkxman
My TDAmeritrade IMTD shares have not been converted to CSTC, however they no longer show under "portfolio" as IMTD. They show as "N/A". Somethin's happenin'.........
cmkxman