Margo's Swing Journal

If you find yourself leaning to the bullish side from a longer term perspective, I suggest you start pulling some weekly / monthly charts of your favorite BIG CAPS. They will be the last to DIE. How many funds do you think own this? What do you think they'll do when it breaks support? Do you think it would be good time to buy if for Jimmy's college fund?

 

Another hugging the edge of a cliff.

 

Not really at an actionable level but I sure am hoping it pops up a bit more to parallel resistance.

 

Margo, this post was made a while back so you may not have seen it. We're just curious!

My guess is:

1] you are either a paid subscriber of said website

or

2] you are that website

 

Uh,

I am not a chartist, but how can you draw that upper line there when the stock spent almost four months above that "resistance" level?

nitro

 

It's these types of quotes that make this thread a must read. Seriously though, I love all of the nice topping patterns you have found.

Good luck,

Banker

 

Margo,

Love your journal. It's meaty and spicy too.

But I wonder if you could - forgive me for the lame cook-show reference - kick it up another notch. I believe you wrote that you have been swing trading for about three years. Could you tell us a bit about your previous trading experience as well as your profitability as a swing trader?

Anything you care to share would be appreciated.

Thanks,

chaos

 

Babak,

Surprised me that someone over here has seen my charts. Yes, I am that website....another damn huckster!

Happy Trading

 

Duh,

I'm not really sure what you're asking but I'll give it a shot. I have an account with Stockcharts.com. At night, I scroll my charts searching for something that may be at or near an actionable level. If it is, I'll take a snapshot of it and paste it to MS Paint. Then, I use the paint tools to draw my jiggly lines.

Seriously, I'm not sure what qualifies as an exact head in a H&S pattern. I suppose it just looked right when I spotted it. So far, it appears to have been somewhat accurate. What do you think......a fakeout breakdown at the shoulder highs or just dumb luck?

 

Well that ought to put a cork in the mouths of those who ran to Margo's defense when the connection was raised.

Keep posting Margo. Momo is where it is at in this market.

HOTT ain't no H&S. It's a high level consolidation, a horizontal channel. Doesn't mean the fucker won't break down either.

ELX is, but both ways. Inverted first, then the right shoulder is your H&S.
What to do, what to do.