is ... YES - Another Profitable Day!
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WEST - Shows all the signs of a significant market bottom and is due for a normal Fibonacci price correction to give you a very good entry point over the next two weeks. http://stockcharts.com/h-sc/ui?s=WEST&p=60&yr=0&mn=1&dy=7&id=p78763420372&a=241880892&listNum=3
INDG is a Bollinger Reports ALERT worth watching! http://stockcharts.com/h-sc/ui?s=IDNGD&p=D&b=5&g=0&id=p19271897504&listNum=5&a=270183787 - I always give stock alert newsletters the benefit of the doubt and even though most of the ones I have seen feature lousy timing and are being paid to promote really bad companies, every once in a while a real gem shows up. This could be one to follow and trade. I'm looking for a good entry point myself.
ONTC ??? A quick look at the daily chart shows that it's a strong bear market with no bottom in sight. There have been some huge volume spikes recently but, I wouldn't buy it. There is nothing from a technical point of view that looks promising.
Patience!
Time is money! ALL investors must eventually come to realize that if they are to survive. Two investors buy the same stock on the same day at the same price. Each one invests $10,000. One is a swing trader, the other a position trader. Every single year the price of the stock fluctuates (oscillates) up and down (30% of it's price range for the year) from high to low three to five times a year along a trendline that gains an average of 20% per year in price. At the end of ten years, the position trader would have $61,917.36 ($10,000 compounded at 20% for ten years). But, the swing trader could very easily compound his earnings as high as 20 to 25% three to five times a years more than doubling his $10,000 every year for that same ten year period and realistically end up with more than $15,000,000 after ten years. Yes it's actually that big of a difference! If you don't believe me, here is an online compound interest calculator and you can play with the figures yourself and see what I'm talking about! http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php#results
The real difference, I believe is that you are a position trader and I am a swing trader. I would say that most position traders buy a stock with the hope that they will be able to hold on to it forever or at least until they retire and at that point they will be rich. Or, they hold on to it until they finally become convinced that it will no longer continue going up because it has been going down for a long time. I started out as a position trader but, after reading a lot of books on investing and doing my own research and applying what I had learned, I now believe that in today's market place, the vast majority of position traders will end up losing money or at best profiting less than a well educated swing trader. So, I take profits when I have them and as long as I continue to feel the pulse of a stock, I'll trade it but, when I encounter one without a pulse or a weak pulse, I stay away all together. What I fail to understand is how position traders will hold on to a stock through 40% or 50% price swings in the price and believe they are doing the right thing by holding on to that stock. To me, it's analogous to guy who loved his 1958 Edsel so much that he bought a dozen of them in 1961 when it was discontinued so he could keep them in a warehouse for the parts and would be able to keep drive his Edsel until the day he died. That poor sole never realized that the could have been driving a new car every single year for what he had invested in total just trying to keep his old Edsel alive. My 2-cents on the matter.
I just write and record myself. Eventually, when I'm happy with the result, I'll publish it but, like you I haven't played professionally for some time. Too busy with other things. But, music, like investing, has a way of staying in your blood. Perhaps because it's a never ending learning and creative process.
Most of the time the market is way ahead of the news. Hence the saying buy the rumor and sell the news. That's why I love technical analysis. You want to know where the price is truly going, just do a comprehensive technical analysis of the chart. Reading the investment news if purely for confirmation and entertainment purposes. I rarely bother with.
By George, I think you got it! Right on Warrior!
You're fairly new to iHub so, I'll give you the benefit of the doubt but, just let me point out that I do not BASH any stock. All I do, it state what I see on the charts following a comprehensive chart analysis. That's all I do! Back on June 5th, I said (according to the charts) that the price would go down. A lot of people told me how wrong that was. But, the price of the stock did drop 40% since then so, All I'm dong now is simply point out the obvious. You are NEVER required to read any of my posts. So, complaining about what or how I post is really a waste of your time because in the final analysis, you can simply ignore my posts and then they won't annoy you at all. But, since I am one of the few voices of reality here, you might choose to read me on occasion because you might actually learn a thing or two. Who knows, you might even same some money. Just a thought!
Their timing really isn't any good but, they do have a winning track record, you have to give them that.
When a stock goes up in price it has nothing to do with the news or the chart. Although the chart could have told you that the price would go up before you ever saw the news. A stock goes up in price because the buyers were more aggressive than the sellers. That is the only reason. On June 5th, the charts were warning of lower pries and today the price is 40% lower. Did you see that in the news?
Buy the rumor ... Sell the news!
Technical analysis is not silly. Since June 5th the price has fallen 40%. We could see a price correction up now but, in my opinion, it won't last. Don't forget, this company's earnings (the fundamental that really drives the price) is not there to support the recent rally an that is a big reason why the price fell off.
Price dropped 40% since June 5th. What meeting took place that caused that drop in price??????
Not hardly! The price has dropped 40% since June 5th and it does appear now that the rally was half hearted. Question? Are you interesting in making money trading stocks or are you more interested in pointing out how right you are? It's up to you! Personally, I focus on the money! I could care less who's right!
Hmmm ... let's test that theory. You posted on June 5th the market was around $0.05 and I was point out a double top and lower prices to come and today the price is around $0.03 a 40% drop in price. Nope! I would not say that the charts ever lie!
Sorry I was not able to respond to this in a timely manner but, I've been really busy recently. It's the summer rallies, you know? Not to mention little league and water polo and everything else I try to do after the markets close.
That does look like a possibility now doesn't it? I got out with a profit and I'll get back in when it finds support. The volatility is good. Bottoms are usually volatile.
A fellow musician! Very interesting. Do you write music too? I play guitar, bass and Keyboard. I operate a home recording studio after the markets close.
I'm rarely wrong. You can't trust what other people say on those boards. You have to look at the actual track record.
You would see decent volume if the stock is in demand. And yes, really!
I would caution you about putting too much weight on the news. If you want to know the truth about the news, take any two year daily price chart on any stock and then plot the dates of all the news releases and when you're though, that should give you a pretty clear picture of how the news really affects the price of a stock. It's interesting! You'll also get pretty much the same result no matter what stock you research. Hence the old, old saying ... "Buy the rumor, sell the news".
Yeah, that sounds about right. The normal support would be in the vicinity of the 20 day EMA. That's right around $0.01. Anything can happen but, that would be a normal correction.
I got out at the close. Small profit but it's a profit. Lots of other places to put that money. In my opinion, we'll see resistance again at the top of the triangle tomorrow.
And you know that how? Rather off topic, don't you think? What's your opinion of ICPA??? How did you arrive at that opinion? That would be much more interesting to the readers here, don't you think?
Yeah, that's a good bet or even lower to around $0.0220. I don't think it will get to $0.0125 this time but, in my opinion, it is still headed in that direction following a price correction after the market becomes fully oversold here.
Daily Chart Analysis - Possible cup and handle formation is forming now on the daily chart. We should see a normal price correction here and then another advance to new highs.
http://stockcharts.com/h-sc/ui?s=ENTB&p=D&b=5&g=0&id=p45068287272&a=269546912&listNum=1
Not quite yet I don't think. If you look at the daily chart (link below) you can clearly see that this market is not quite oversold on any of the OB/OS indices. Patience is the key now. http://stockcharts.com/h-sc/ui?s=ICPA&p=D&yr=0&mn=6&dy=0&id=p52677956735&a=257286122&listNum=1 With a very probable double top in place now, the next move up may not be all that significant either. Patience and a willingness to improvise adapt and take profits when it seems like a good idea are what makes your bottom line grow.
You asked about Netflix. NFLX right now appears to be a strong bear market. There will be a lot of false double bottoms in a bear market. One way to separate the real ones from the false is by watching the volume. As you can tell on the daily chart (link below) there was not significant volume concerning the recent double bottom. Therefore, in my opinion, it's not a true double bottom. http://stockcharts.com/h-sc/ui?s=NFLX&id=p45068287272&def=Y&listNum=4
If you look at the hourly and 15-minute charts however, there does appear to be oversold conditions in the short-term and therefore, a rise in price seems possible now. So, I would hold on to it if I were long at this point. Pay attention to the next interim market top and be on the look out for a bearish divergence that would indicate that prices could move significantly lower.
I've given you a person mark because it's obvious to me that you seem to know what you are doing. I'll be following some of your selections and maybe we can trade a few together in the future. Good luck to you.
You asked about BAC. A brief look at the chart tells me that we still have downtrend here even though the price broke the 200 day MA and returned and supported there, it looks really weak now and I think it will return to the 200 day and perhaps fail support there. It's all conjecture on my part because I'm not following this stock but, I've seen similar chart pattern in the past. However, if you look at the hourly chart (link below) I can see how in the microcosm we have developed what appears to be a strong uptrend so, if the market finds support now along that trendline and then rallies to new high, then I believe there is a good chance that BAC will continue higher for a while. http://stockcharts.com/h-sc/ui?s=BAC&p=60&yr=0&mn=1&dy=0&id=p13082108161&a=270117759&listNum=4
I trade on all the US markets but, my primary focus, like yours, is stocks trading below $5.00/share I like to trade 10,000 share blocks for short swings and I try to take an average of $1,000/day out of the market. If you follow a lot of stocks and trade only the best high probability trades, it's really not that difficult to do.
I'm bailing out of this one as soon as I see a decent price. The charts look very weak now. In my opinion, it's going lower. Eventually it will sit on $0.0001 and wait for ... news I suppose. I'm already in profit so, it's no biggie for me but, I don't think you will see prices any higher than $0.0009 now. Just my 2-cents!
I'm not sure what you mean by "support level structure". But, if you look at my daily chart (link below) you will see that I follow 5 moving averages. The short-term moving averages (10 and 20 day EMA) generally become support for a trending market. You will notice on the daily chart how the price has moved above those averages now. http://stockcharts.com/h-sc/ui?s=WEST&p=D&yr=0&mn=7&dy=0&id=p08020426942&a=240661626&listNum=3
I also follow 4 different time frame charts (weekly, daily, hourly, and 15-minute). You will notice how in the microcosm (the 15-minute chart) how an uptrend has already been established and the 10 and 20 candle EMAs on that chart (for the most part) have contained the price. That is to say that anytime the price dipped to the 20 candle EMA, buying became more aggressive. You will also notice on the 15-minute chart that the one time the price penetrated the 20 candle EMA, the 50 candle EMA provided support. http://stockcharts.com/h-sc/ui?s=WEST&p=15&yr=0&mn=0&dy=8&id=p00214300929&a=242423769&listNum=3 Also on the 15-minute chart, all the moving averages are in alignment with the short-term averages on top and the longer term averages on the bottom. That indicates an up-trending market.
On the Daily chart however, that is not the case yet. You will notice that the daily chart is still technically in a down trend and you will see that the price met with resistance today (rally temporarily stopped) at the 50 day MA. Should market momentum carry the price though the 50 day MA now, there will be additional resistance at the 84 day EMA. Support on the daily chart now should hold at the 20 day EMA.
Hope that answers your question.
I think that comes from being an excellent student. I read somewhere one time that if you truly wanted to learn something, you must first teach it to others. It's true! The more I share with other people, the more I seem to understand and more I understand, the more new ideas and information seem to come my way. When the student is ready, the teacher will appear.
NUSMF Hourly Chart Analysis - The price seems to have made a normal Fibonacci correction and there appears to be support now in the $1.20 to $1.30 range. I would expect to see the price rise now to at least $1.70 - $1.80 where there should be resistance from the 200 candle MA. Should the price ignore the 200 candle AM and head straight for the $2.00 area, we would most like see the bull market reestablished and higher prices would follow. Just my opinion based upon the current hourly chart! http://stockcharts.com/h-sc/ui?s=NUSMF&p=60&yr=0&mn=1&dy=0&id=p70906604837&a=246540063&listNum=6
Hourly Chart Analysis - We have a quadruple bearish divergence on the hourly chart now between the PRICE and the RSI, ULT, Stochastics and %R indicating that lower prices are now eminent. There is also a possible rising wedge forming on the hourly chart that could mean the price will still rise somewhat to complete the wedge and most likely come in contact with the downtrend line at some point (both are moving targets) and that will complete the Large Descending Triangle that has been forming on the chart. All of these tings point to lower prices and the possible Triple bottom which I pointed out will (in my opinion) prove to be a false bottom. There will be a significant sharp drop in the price (equal at least to the height of the triangle) once support at the base of the triangle (location of the triple bottom) finally fails to hold. Just my 2-cents but, if all of this does unfold which is very likely there won't be much hope for higher prices this year. As a swing trader, I'll be trading elsewhere there are so many better trades out there now. Here's the chart: http://stockcharts.com/h-sc/ui?s=BPAX&p=60&yr=0&mn=1&dy=0&id=p69834298214&a=251873654&listNum=1
Sounds like wishful thinking to me ... http://www.americanbulls.com/StockPage.asp?CompanyTicker=ICPA&MarketTicker=OTC&TYP=S
There are some rules to technical analysis of commodity futures that also partially apply to stocks. The saying goes that when the price is up and volume is up, that's bullish. When the price is down and volume is up, that's bearish. When the Volume is down and the price is down, that's bullish and when the volume is down and the price is up, that's bearish. So what does that really indicate. Well if the price went up that generally indicates that the buyers were more aggressive and willing to pay higher and higher prices on the day. If the volume on that day was high, it means a lot of buyers were more aggressive. If the price goes up but the volume is weak, that just means that the buyers were more aggressive that day but, there were few people buying. If the volume is weak and the price is down, you might think that would be bearish and it is somewhat but, it indicates that only a few sellers were being aggressive. If the volume is up but the price is down, that indicates that a lot of sellers were being aggressive. I said the rules somewhat apply to stocks because in commodity futures, you also have what is known as open interest (the number of contracts outstanding). That is similar to the number of shares outstanding in the stock market but outstanding shares is a fairly consistent number and changes very infrequently. In commodity futures, the open interest can change drastically in a day. So in futures, it's really volume up, price up and open interest up is bullish but, volume up, price up, and open interest down is bearish. But, in stocks that really doesn't apply. The volume and price data without the open interest factor is not as exacting. So, if you follow that rule, then you need to consider other things because you can have situations in stocks that actually seem to contradict those rules. At the top and bottom of the market in stocks, the rules for volume and price action seem to change. That is you can have what appears to be aggressive selling because the price was down on high volume but the volume actually is coming from a lot of buying at the low prices. In commodities, you would see the open interest decrease in a situation like that indicating that short sellers were covering there shorts and that closes out open contracts. So, volume up price down and open interest down is bullish in commodities. I hope I didn't confuse you there. In stocks high volume at the top of the market is generally bearish and high volume at the bottom of the market is generally bullish regardless of price action. There are exceptions to those rules too because of the lack of open interest in stocks.
I'm impressed with the resilience shown for support at the 20 candle EMA on the 15-minute chart. In my opinion, prices should continue higher from here. http://stockcharts.com/h-sc/ui?s=WEST&p=15&yr=0&mn=0&dy=8&id=p00214300929&a=242423769&listNum=3
CBIS - I have mixed feeling about CBIS. In one hand it did support nicely recently on the 200 day MA (daily chart) and 50 week MA (weekly chart) so, it is possible that we could see an attempt to rally but, there does not seem to be any volume to support aggressive buying to mount a rally so, the stock could continue to go sideways to down for a while. I need more evidence before I'll get too excited about it. http://stockcharts.com/h-sc/ui?s=CBIS&p=W&b=5&g=0&id=p98834105342&a=254478318&listNum=1