The TA Study Lounge

[PowerPole]

YHOO is having a tremendous day today...

It underperformed the Nasdaq for the last four sessions, and as expected, today it has by far outperformed the Naz...It does this on a regular basis...Unfortunatly for me, I was busy daytrading CPTCQ and RBAK today until just before lunch, and did rather nicely...

RBAK--If you'll notice, it has set up a pattern here of running up hard first thing in the morning, then slowly slipping down, which is in fact a bull chart pattern called a bull flag...In the last five days, it has done that pattern seven times (they are also called "stairsteps" up which is one of the best bullish patterns I know, not too far--too fast...About this time of day, near the low on the chart is a good time to jump back in, as it should approach today's high near the close, and set itself up for another good pop up in the morning...

CPTCQ--Is doing pretty much the same thing, though only for the last two sessions or so...I bought 5K at the open at 2.56 when it took out 2.55 and broke out up into clear skies again...I estimated the run up to about 2.75 but it surprised me by going up another nine cents...I should have taken only half the profits there, in case it did continue up...I took my profits at 2.73 one hour after the open, so I shouldn't complain...It is setting up for another good open tomorrow, as it is consolidating in an uptrend, and I will load up again in the morning if it breaks above today's intraday high of 2.84 within the first hour of trading tomorrow...There is something going on here with this one...I feel an Awesome PR could come out later this week, or on Monday for sure, and that is a Definite Buy Signal in my book...We have a good core position, and I like to daytrade this one also, but is hard, as you have to use limit orders...I've been doing this a while, and know in order to get out quick on the ask, it Must still be going up...I don't like to try getting out on the bid while it's headed down...

Look for some charts to be posted later this evening...The Wawh has shown an interest in MXIM and SBAC, so I will get to those, along with YHOO, RBAK, and CPTCQ... #board-4166

Good Luck To ALL ;^)