I meant to warn everyone that TBSI is extremely volatile .... but a casual glance at today will let you know that. What I mean by the above is that some of the symbols we've dealt with almost behave as if they are completely obedient to the jockey, being guided into the gate, just waiting for the start. While others are running around the track refusing to enter the gate.
Nice looking chart. - Monkman <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1563162>
Amibroker w/iqfeed is a great combo. I use it as a backup for Qcharts, and works really nicely. Plus amibroker is dirt cheap for what it does, but be prepared to write your own code for some of the settings. The built in GUI options are somewhat limiting. - Monkman
First post to the Journal. Just got done reading journal's I and II. and starting on III. For anyone starting out make sure you check out the documents and Hershey videos. Aside from that I had a question about CECE. We had a signal a few days ago, but it was earnings I know. On Jack's videos he talks about being a parasite to the smart money. The smart money went up so did volume before the earnings results. The earnings were up according to the SEC release, but I held on and now the stock is down 10%. Any ideas? Why does Jack refrain from trading around earnings dates... the signals should be the same no matter what.? Spydertrader.. do you know whatever happend to G33MK? He seemed to really be onto something with the MACD, but then he sort of disappeared from the journal. Thanks everyone for the great journals. I'm learning alot.
Beginner Level Traders should avoid trading in environments where the level of risk increases. Earnings dates represent one of those areas. As such, I recommend Beginnig Level traders avoid entering into a position where a stock has an Earnings Date close to trade signal. One need look no further than the many pages of these Journals to find examples of individuals who regretted heading this advice. - Spydertrader
What do you guys think of this MTOX chart? <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1564350>
MTOX doesn't look like a quality stock (even if it is in the Final Universe). For whatever reason its price and volume took off when it reported in April, then its price plummeted when it reported in July. Its weekly chart is pointed down, and its price doesn't seem to cycle (at least lately). It is a small, thinly traded company, and I wouldn't touch it. There's only one analyst following MTOX and he has a moderate buy on it. Even if today's bar up (+11% after an equal drop yesterday) proved to be an FTT, it is more likely to be a retracement than a traverse of a reversal, so it'd be more difficult to trade. But you made me curious enough to keep an eye on it for the next few days.