Great New Pattern

Discussion in 'Technical Analysis' started by rtharp, May 30, 2001.

  1. Apw was absolutely amazing. I bought almost 15k shares at 5.2 or so. I scaled out too fast though, and I was all out by 8. As for now, I think it's dead money. If it gets over 10, someone instant message me or post here, cause im gonna buy. As for bigt, it's amazing. Im gonna play that tomorrow, along with my tbl long and powi which is still interesting. I'll post all my picks later.
    You're right that this one will get long. This is an add on to that post. These all loook interesting for friday. Powi, cnx, axti, xtnd, kpn, olog, usg, slab. Obviously some are better than others.
    #11     May 31, 2001
  2. Just so you know, im out of pta and tbl. Im looking for a lower tbl entry, im out at .55. Awful day. I hate loosing 7k in the first hour. Uggghhhhhh. I have a few k of ulog, but im keeeping it smaller cause of my earlier loss, and watching usg for a large block to get long on.
    ------Man, this usg is just getting juicy. I wanna see something huge before I enter, but my mouth is watering, this is gonna be great.
    #12     Jun 1, 2001
  3. mjt


    Just started following this thread, Is IDT the kind of stock that fits your pattern? Down over 40% on triple average volume. I can't find news on it for today, so I don't know if something else is going on.
    #13     Jun 1, 2001
  4. dlincke


    Is it my charts or was USG halted today from 1:30 to 1:50?
    #14     Jun 1, 2001
  5. No MJT I'm looking for a huge selloff it's down but not what I'm looking for, still in a tight range.

    I heard a report on CNBC that USG was halted so I think so. You guys be careful here. If you want to get long wait till it goes above the previous day's close, if you want to get short wait till the stock is below previous close. IF a stock opens up buyers rule, if it opens down sellers rule. That is how price in the morning gets determined. DOn't fight it.

    I do have KKD for the reverse pattern Pre doesn't like to short but it has broken out from a base and it up almost 100% without ever looking back. It finally showed some weakness. I'm short Mon if it opens below today's close. This one looks golden.

    For disclosure I'm still long PTA. Added some today on that huge selloff. It tanked on no volume today so guys be careful with this if you get long. I'm giving it some breathing room. It it goes below today's low look out!!!

    I kept trying to buy at 3 but he'd penny me over and over again.

    I'm looking for some support at 60 and more at 50. I'm shooting for 60 unless market general market also breaks.,uu[m,a]daclyymy[pb50!b200][vc60][iUb14!La12,26,9]

    see link

    #15     Jun 1, 2001
  6. mjt


    So IDT would be a candidate if it had a range today of say, 7 points or so?
    #16     Jun 1, 2001
  7. dlincke


    IDT is what I call an "NYSE dumper". The high percentage play with these is to participate in the opening print and then scale out with the specialist as he lifts the stock from the open. With such huge sell imbalances the specialist will almost always be the buyer of the majority of stock in the opening print so he will gap it to a point where he believes he has a good chance of distributing his position at higher prices. This makes it a rather high odds bet to join the specialist.
    #17     Jun 2, 2001
  8. I'd be more interested in IDT had moved a lot more away from it's normal range, with added volatility (bigger candles). Yes 7 more points in the same direction would probably be getting my attention then. This is still tradeable just not what I want.

    I'm still after PTA for a long and KKD for a short.
    #18     Jun 2, 2001
  9. I tried idt twice on fri, and lost a dime each time. It's not a "great new pattern" (gnp) stock b/c it gapped down. Think of a rollercoaster. The faster and steeper it goes down, the faster the rebound off the bottom. Idt is a helicopter that crash landed. It might not go lower, but it probably wont get it's stuff together enough to make it much higher. If you want you can play a break of today's consolidation, but I'm not gonna bother. I took 2k from usg after the halt. That runup was amazing. I have no position now. Im still waiting for a large block, but if it shows strength early, I might take 10-20k of it anyway. I really think that thing gives 2-3 pts off the bottom, wherever that is. I took .3 on olog, and have no positions in anything now.
    From now on so that this thread doesn't get too bulky, Im gonna post my picks the night before, and then post any actions I take on them like this.
    - 10:35 bought 3k XYZ @ 18.6-.75
    - 14:10 bought 5k WXY @ 7.3-.38
    - 15.22 sold 2k XYZ @ 19.88- keeping other k overnight.
    I suggest that all of you do this too so as not to make this board too bulky. It would make for an interesting diay.
    BARON, or whoever moderates this board.... I know that et is not a stock picking operation. I do not want to change the nature of this forum, but rather to share ideas, and work on this pattern. Is it ok that we post picks here? I don't want to get anyone into any legal trouble (especially myself). I also don't want to be hyping any stocks. Any feedback from anyone either in charge at ET, or anyone active on this forum would be appreciated.
    P.S.---- Just so you know, the low on usg was 6.51 today. My charts all say 6, but that was 200 island shares a second before the halt. If you are gonna short, use 6.51 as your lod.
    #19     Jun 2, 2001
  10. praetorian,

    As moderator of the trading forum, I consulted with Baron regarding your query on posting trading picks on the boards. He said that as long as they are trading picks and not penny stock hypes (i.e. pump & dumps), they are fine. In fact, Baron is considering adding a forum for active trading calls and picks.
    #20     Jun 3, 2001