I tried to attach it but it looks like it failed - too large. I put it up on filefactory.com which offers free web hosting, but deletes files after 15 days of inactivity. (If anyone else knows of a more long-term option, please let me know.) In the meantime, here it is: http://www.filefactory.com/?330de7
Oy, this isn't working out well. I keep getting file errors when trying to extract files that I download from filefactory.com. I've put it up on my home site. It won't be as fast, but hopefully it'll be good enough. Thanks for bearing with me. http://www.michabo.com/files/hershey_scan.zip
I am not having much luck with the zip file... says it isn't a valid archive or something, I am using WinZip.... any ideas?
Hi foible, Here are my two cents The daily chart looks good in my opinion. I circled all of the indicators that make me smile. The price is near the bottom of the channel so perhaps it will increase some more. The problems that I see are that RHAT does not rank and it has a float that is outside the 20,000,000 max. I would not have taken the trade because of those two factors. I hope this thing makes lots of money for you and good trading to you, gooch87 <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1129173"></img>
Hi foible, I'm a beginner trying to lean (or a learner trying to begin), so please take these comments in that context: As gooch says, RHAT does not make the cull because of RS and float being out of range (RS = 17, EPS is strong though at 94 - from stocktables). The volume profile is also not a DU->FRV scenario. The stochs on the 30 minute were good until midday but were not supported by high volume. The daily slow stoch remains stuck below 20. From the chart it looks like there is support at around 21, but a lot of volume has been required to keep it there. JY
GIGM +0.1%. Will probaby sell between open and 11am. IVAC +3.3%. HOLD. Down on lighter volume, stochs OK. PRFT - took stop at 12.65 -3.4% Buys on 12 July: Buy NTRI 65.65 -1.1%. HOLD as up on day and volume and stochs OK. Channel position a concern. Buy ARD 33.98 +1.2%. HOLD (volume and stochs). Buy ALJ 35.51 +1.1%. HOLD (volume and stochs). Anyone else take similar trades? JY
Your welcome, It is nice to check your work with others. It helps build confidence when you know that your on target with the basics. gooch87
Nice example of an Equities Rocket Blasting Off ... - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1129939>
Nice chart Spyder, thanks. If I may ask a question, in your experience, have you found that the rockets tend to not follow through when the market is under pressure? This has been the case for me lately, being forced to exit trades on the next morning due to retracements in my positions just to not let profits from the first day's blast off be eroded away... Not complaining mind you, as taking profits in difficult markets has a nice feeling to it...
Sometimes, these rocket trades take off and never look back - for months at a time (see GROW a couple months back). In other instances, the rocket launches skyward, only to return back to earth just as quickly. Whether in rising markets or in the middle of declining markets, I have always felt it best to take some money off the table every so often. For example, on a 1000 share position, I might remove 250 shares after reaching a dollar per share profit, and another 250 shares once price reached a certain percentage profit target (or higher portion of the IT Channel). While certainly, scaling out of the position reduces the overall profits, doing so protects (banks) a portion of the gains in an effort to safeguard against a falling, and rapidly accelerating, downward spiral in price. As always, your mileage may vary. - Spydertrader