is...Either trading futures or fishing
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This stock is not being day traded. And you might want to learn to day trade. It got me retired very early in life and my grandkids probably have more money in their accounts that I trade for them than anyone in here. The days of mom & pop long term holding are gone for the most part. The market is owned by day traders and swing traders. Learning to read charts and indicators are a very big part of todays trading. I average between $1,000 and $1,500 everyday scalping points in the futures markets. Im not bragging. Just giving you some good advice
We are getting a little extended above our moving averages. The stochastics are also showing it getting into the over bought level. Im looking for either a pullback into the 20 period EMA or a consolidation into it for a test of it. Then a further move upward. This is the 60 minute 90 day chart. Either way the chart looks very nice
I have traded on TA for over 14 years. Rarely do I ever read up or do any DD on any company. Certain chart patterns have a psychological effect on seasoned traders. This one has what it takes to draw in swing traders like me for longer term swing trades
Very well said. I said a few things similar to what you said a long time ago on another board. All the new traders laughed at me. One person on any board screams "burn shorty burn" and they all join in not knowing a hill of beans what they are talking about. If I had a dollar for every time I heard that this stock or any other penny will be the granddaddy of all short squeezes then I wouldn't need to trade anymore. 99% of these traders have no idea what it takes to be able to short pennies
This is the kind of chart that I love to trade. Keep in mind that this is a weekly long term chart. A buddy I trade with tipped me off to this play today. This stock had a resistance level around the $4..27. It broke out of that resistance then found it as a short term support then breaking on upward. Im looking for a longer term fib retracement back up to the $4.27 level. This stock was beat down hard and that is what I love to find. With a strong decline in volume and the stochastics trending down this screams buy.
That's only good if your account with the broker your using is a non margin account. If your under a margin account they are allowed to use your shares. You will find that on every brokerage out there
I couldn't agree more. I make my living trading big boards and scalping futures in gold and the S&P. I play a few pennies here and there when I find one I like. I trade pretty much on TA alone but I like what I see in this company. I was mainly drawn to in by the chart. A lot of people in here want it over night. That isn't going to happen. This is a good one to hold. I like the way you post. Straight and to the point. Member marked you
There is not going to be any volume today. Everyone is gone for the holiday weekend
Man the daily chart is setting up real nice. I posted a chart on it a couple hours ago. Looking for a little action next week
Yeah I loaded pretty heavy in the lower 3's a couple months ago and bought a huge block in the lower 2's through Ameritrade in May. Just got back from a fishing trip in Erie and didn't expect any action this soon. Looking like a little pullback into a a few days of consolidation for the rest of the week. Looking like it wants to gather up the 20,30 & 50 period EMA and try to get over the 200 on the yearly chart. Im thinking once it gathers them up tight its going to make it over pretty soon. Will make some nice bank in the future
Im starting to see a similar pattern we had with ATR$. That was a fun ride
Nice to see another Horns fan in here
This one has the makings of a real good pile of cash
If I remember earlier you called 2's EOD?
Hell we get news saying that the 10Q will be late and we go green. Just think what it will do when it gets real good news.
Here is a chart of AAPL. Don't look like much of a rise of a good company to me. I swing trade them. This is a legit company but everything that brought it to its high of last year was just hype. Nothing but a down hill slide for several months. WLT was the same way. Traded up on all hype but all a down hill slide from last year
In my 15 years experience as a professional trader I have learned only one thing. All stocks trade off of hype. All big board stocks trade off of hype/speculation until earnings come out. Then they rocket up or down for a few days then back to normal volatility. Stocks don't trade on the value of a company. They trade day to day on what someone is willing to pay for it
That stock started out just like this one did
I bought 50,000 shares of MJNA in 2011 at .01 and held it for over a year and sold at .48 so some you do invest in
You should short 1,000,000 shares until it gets there ;) Make tons of money
Im thinking the same thing. I don't play pennies very often. Has to be something to catch my eye. My bread and butter is gold futures but this one really caught my eye. Im looking for a hard pop very soon. With the way its setting up the tension will release
Not when I own both
Thanks. Had enough of eating coal dust ;)
Think I will pass on that. I have been in houstons rush hour traffic many times and wouldn't with that on anyone lol
I usually don't trade pennies. My bread & butter is gold futures and big board coal stocks. I play pennies that have huge potential like this one and a few others. I was a coal mine electrician but retired a few weeks ago. Been trading about 15 years and love it. Gives me more time to fish. Im from Waco texas and lived there for 39 years until I moved here to WV. Love the mountains but hate the short warm weather seasons we have
Hello neighbor. Just right down the road from me
That's last years news
Made me want to puke
He probably made $498.75 total after the cost of that video
You might want to do a little work on your videos. That was just horrible
Well said!
The mods should sticky this post. Excellent work there!
I see it hitting the previous resistance of around .015 to .016 . If it can break through that level and hold then there is no telling how far its going to go. If it does break the previous level i will sell my position and wait for a pullback to find a new support level. Im only judging by technical analysis. I dont trade on news or hype