Yeah, I've learned not to do that anymore, fortunately. When I just looked at the daily chart, It looks like a pennant has been forming since the high established on December 24th and the support line formed in the middle of October... and it is coming to a resolution soon. What we are looking at is a classic FBO. Maybe. I am really new to this. I have very basic understanding of Gaussians and formations, but if I were to make a guess, that's an upward flag or pennant forming the past three days, the stock will go down before the larger pennant resolves the end of this week or the beginning of next. Either that, or it'll break out tomorrow, but I think this is doubtful because it has been trying to BO the past two days and failing, despite the increase in volume. Perhaps someone with more knowledge of Gaussians can help us out. JF
I see, so they WERE originally compiled/allowed into the FU originally using Stocktables and EPS, RS, etc. It's just that I don't remember Fannie Mae, Freddide Mac, Hovnanian, beezer Homes, Ambac, and a few others being in the FU. But then again, I only keep tenured stocks around for 3 months, and if they don't make their way back into the FU by "cycling", I delete them. And then if they make their way back into the FU by making it through the culling process, I'll trade them again. But our styles may be different. i trade stocks in my IRA, so I'm unconcerned about whether or not there's good stocks right now. For example, my returns on stocks since December have been around 15%, which ain't great, but fine for me since I'm not living off this income. So having 80ish stocks to choose from will give me 2-3 positions at any one time, which is fine for me. I make my income from futures, so I don't want to get too distracted watching a whole bunch of stocks and miss oppurtunities there.
Here is my chart for this morning. Feedback is appreciated. Several weeks ago I realized I was perhaps a bit lazy in my annotating, I hope that is no longer the case. I only have a couple hours available in the morn so will post a few days of what I can do. Thank you to any responders.
at first glance: your pt3 short at 9:40 is invalid as well as the red gaussian that follows it. the 9:45 bar is increasing black in case you thought it was red when you made these annotations.
A week or two ago there arose significant discussion on an almost identical issue. Please look at bar 15 again (the one NT labels as 9:45). This bar started out as (on my chart) increasing RED moving through decreasing BLACK and finally to increasing BLACK. While the bar ended inc blk, as the dominant traverse at that point in time was down, the beginning of bar 15 was inc dom volume. IMHO, this is just a matter of annotation preference as opposed to an error. This is what I took away from Spydertrader's discourse the last time this issue arose. If I am incorrect on this point I hope he will clear this up. Thank you for your reply.
Perhaps a good topic at lunch would be your trade #3. Would you please tell me why you went short on bar 5 that closed up on inc blk volume? And then held 4 more bars with price moving up 5.5 points?