QQQBALL, My writing skills suck, but I'll try to add more to each setup. I don't consider the fundamentals at all and realize I should. Unfortunately, I don't even know how to calculate the P/E ratio. The only thing I look for and I'm not even sure if you'd consider it fundamental analysis is the float size when I trade a CANSLIM type breakout. The smaller it is...the more likely I'll play it.....if the volume is present on the breakout. Before you laugh, please realize I know I'm pathetic.
babe714, Not at all.....that would be wayyyyy too much risk for me. The low risk trade and the way I'll be going in is to short at the TOP of the UPPER TRENDLINE, which appears to be between $70.00 - $70.50 with a stop on a move over the trendline....maybe a 1/4 of room of so if you wanna keep it close. If a trader wanted to give it a little more room, he/she could reduce the size of their position and place their stop at the March 2000 high of $72.13.
Another parabolic move up out of thin air that I'll short as close to $50.00 as I can. Since a move over is unlikely to sustain itself, I'll carry a loose stop on it and trade it with a smaller position.
I'm going to short this as close to the trendline as I can. Notice the holes / gaps in the chart.....a full retrace is likely.
I normally avoid trading cult stocks, but I'll give this a go short on a move up to the stick highs with a 1/2 or so stop.
These are the kind of longs I've been looking for over the past couple of weeks other than the bounce setups. Unfortunately, there aren't many to be found. This is a weekly chart and appears, IMO, to be setting up into a bullish inverted H&S pattern. Notice the symmetry between the 2 shoulders.......if I had seen it back in June - July, I'd probably already be long. As it stands now, I'll go long on a strong move over the neckline IF the volume is there.
Yep, this one is thin as hell but it sure looks explosive. It's a weekly chart with almost 6 years of consolidation. I'm going long over resistance of $1.00 with an initial target of $1.60. Keep in mind I have no idea what the story is with this company.
I've traded this several times, and I don't think I've ever made a nickel doing so. I'm looking to establish a pilot short in this as close to the stick highs as I can get it with a tight stop.
The momo still points up so it's a longshot but I'm shorting somewhere between $26.75-$27.10 with a stop set at $27.25.
i just want to be clear. i was only asking if you considered the fundamentals, i wasn't saying you should. i have traded MIMS, which has good fundamentals and a crappy balance sheet, which along with some management missteps moved the stock from $20+ to near $5 in the past year - all the while, the company has been growing earnings nicely. also, i was just noting that NDN is a favorite on the long side (for ME). lately, ive been thinking that MY swing trades should be taken off of technical setups only, or perhaps a quick IBD scan? why do you like the small float stocks? i dont think you're anything but great!! these setups are awesome. i was doing well last year swing trading until i blew-up a bit and devoted time to an intraday QQQ trding strategy. im looking to starting "swinging" again in 2003. good luck!