Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
GOLD ??
Anyone have an opinion on gold and where its going ? I am in the camp that says gold bottoms in the first two qtrs of this year and takes off again .
Mj
Anyone have a favourite bird flu stock ?
Mike
SO , can someone tell me when we can go long on the oil / drillers ?
Mj
Thanks very much GTS , and if anyone else has another book(s) , that offers fast insight please advise .
Best regards
Mike
Question for the board
Is there a good book someone could recommend that could offer a new comer some knowlege about the markets and cycles or sector rotation ?
Thanks for any help on this
Mike
Chi chi
Long time no speak , so where do you see the markets going short term ?
Great site Chi chi
Much appreciated
Mike
Chi chi
Are you currently long the markets ?
GTS
Where is the news about something being done about this ? why is it they have nothing new happening ?
Thanks
Mike
HEADS UP
For anyone travelling ( long distances ) , I am starting to believe there might be more negatives than most of us are aware of . I just got off the plane from Beijing and 4 days out of the flight my wife had a massive brain hemmoragh.
Mj
Question for the board
Am I the only one holding long energy ?
Thanks
Mike
Chi
When you do a trade is usually a 1 day trade or will you hold for a 1-6 week swing and when do you see agu being ready for picking ?
mj
Chi
You stay over night ? I am in FCX / X / and a large position in energy trusts , hoping to hold till 90 level .
FRIDAY NEWS ?
I thought there was some earth shaking news coming out today that would effect the markets ?
mj
Thanks for your comments chi chi , does anyone here like Doug Kass / Helene Meisler / Dick Arms ?
I have been doing well with energy trusts / stocks and will stay long them. Currently long RIM / SWN / BAC with some tight stops , if dailies are not improving by mid morning they go .
Mike
Chi , I am reading we are overdue to pullback . Historically at this juncture we have seen 40-50 points shaved off the S&P . Will that happen at this juncture ? who knows , whats your guess as we head into Opt exp ?
Mike
Whats up with SWN today ?
This guy is interesting to listen to !
http://watch.bnn.ca/#clip263202
I wasn't able to get hold of him, if I do I will post in on the board. How do you see the market here ? I am not impressed with the dailies , however , when you look at the charts it seems like we are moving up no matter they say ( momentum )still works both ways .
George I just wanted to say the same thing , much appreciated all your effort and work . Streamlining this board has to be a tough job. There are so many opinions of what is going on .
Mike
Watch The Bank Index For A Breakout
Above is a weekly chart of the Bank index symbol($BKX) and as you can see this particular group of stocks have been relatively quiet since last fall. The BKX has been in a trading range with a low of approximately 40 and a high of 50.
The Bollinger Bands which track volatility are contracting and are the tightest we have seen in many many months. Usually such a tight contraction often leads to a significant breakout which is why I suggest we keep an eye on this index.
What I am waiting for is a weekly close outside of the trading range. So a weekly close below 40 or above 50 may suggest which way this index will trend next.
Posted by Kevin
Labels: technical analysis
I wonder how Doug Kass does overall with his calls. I believe he was short the dow when it was at its peak and went long last March. We should trade between 1025 and 1150 through the third quater or so . However his earlier calls I have not heard much .
GTS
I have been accumulating income trusts and dividend paying stocks . They seem to be working out okay so far , however stocks in the same area that do not pay dividends seem to be going lower and lower . Why should anyone hold a stock when you don't get paid versus and income trust ?
GTS , that blows my mind that last post of yours from all those so called experts . I have been paying out big dollars lately for sub from Kass and many others I would guess they are about the same. That being said , with all this talk about being so oversold by the experts it will be interesting to see how correct they are .
I may just sit tight now for a while and stay long .
GTS , great posts , where do you find the RSI indicator ?
All I could come up with this
Relative Strength Index
Relative Strength Index (RSI) is a popular momentum oscillator developed by J. Welles Wilder Jr. and detailed in his book New Concepts in Technical Trading Systems.
The Relative Strength Index compares upward movements in closing price to downward movements over a selected period. Wilder originally used a 14 day period, but 7 and 9 days are commonly used to trade the short cycle and 21 or 25 days for the intermediate cycle. Please note that Wilder does not use the standard moving average formula and the time period may need adjustment.
Relative Strength Index is smoother than the Momentum or Rate of Change oscillators and is not as susceptible to distortion from unusually high or low prices at the start of the window (detailed in Momentum). It is also formulated to fluctuate between 0 and 100, enabling fixed Overbought and Oversold levels.
Trading Signals
Different signals are used in trending and ranging markets. The most important signals are taken from overbought and oversold levels, divergences and failure swings.
Use trailing buy- and sell-stops to time entry into trades.
Ranging Markets
Set the Overbought level at 70 and Oversold at 30.
Go long when RSI falls below the 30 level and rises back above it
or on a bullish divergence where the first trough is below 30.
Go short when RSI rises above the 70 level and falls back below it
or on a bearish divergence where the first peak is above 70.
Failure swings strengthen other signals.
Trending Markets
Only take signals in the direction of the trend.
Go long, in an up-trend, when RSI falls below 40 and rises back above it.
Go short, in a down-trend, when RSI rises above 60 and falls back below it.
Exit using a trend indicator.
Take profits on divergences. Unless confirmed by a trend indicator, Relative Strength Index divergences are not strong enough signals to trade in a trending market.
Best regards
Mike
I had never heard he passed away , I had heard of another person with the same handle as Dr. Bob. I just got off the phone, what I got was a recording . I will try him another time and see what is happening . I took his course as well and would be great to touch base with him .
Mike
The Dr. Bob I knew wasn't all that old, I knew he had developed some eye problems. I later found out ( not that it matters obviously that he was asian ) , is this the same chap ?
Thanks
I enjoyed many good conversations with him .
Question
Does anyone know what is going on with Dr. Bob ?
B4
You around these days ?
Does anyone know or follow CHI CHI board .I am one of the posters from over there and I am looking for GTSOURINIS and B42, any help in locating these posters would be most helpful my email is tasko487@aol.com . The old board has now been shut down and I have no way of contacting them.
Thanks for any help in this matter .
B4
I reluctantly was adding into the close on Friday . Now I would have probably taken less and done in on Monday ( into the close only if it acted the same as Friday ). However that being said we know that if you don't buy it on a slow day you will pay up on a good day and Mondays have been fairly good . I think one of the big positives we have is the fact that we are now creeping into month end and that could have some positive implications , however , wthdik .
I have no idea what else they can throw at this market , does anyone else see it being resilent ? We had Greece / the federal reserve, then option expiration and its still holding on , even with low volumes ?
DR.DOOM ( I would not buy chinese stocks here )
http://www.cnbc.com/id/35444726/
B42
Thanks for your comments I had thought you would have been more in Prechter's camp or Faber ( he is on cnbc tonight apparently ) . Whatever the case there are some serious problems in Greece along with others . This mood reminds me of when the markets were in denial and Leyman went down . That being said I am still bullish for some twisted unknown reason lol
B42
So your call is we go up to 1200 from here with not much of a pullback or ?
I am waiting to see a couple day spike then some larger pullback and then we probably break the 1044 , but like I alway say wtdik .
FDIC
Thanks for that update Maty !
QUESTION FOR THE BOARD
Anyone follow the grail system of trading , I recently heard it is one of the best systems . Can anyone let me know where to get more information on this ?
Thanks
CHI CHI
I noticed that stock DNDN has been doing very well . Do you still own it ? I also thought I read there is some big news coming out in May ?