Here is how thenewguy drew the channels for the more intermediate trends. Please see attached. - Huskydog
well depends on how far back into the chart you look at... mine eventhough it's daily, only shows me the last 2 months, because i zoomed in on it, his chart it seems to show all 5-6 months.... if someone has a daily chart that shows only 4 months.. the channels is going to be different as well it just depends on how far back into it you want to look.... for our 4 day moves in a stock... i just chose the intermediate to be 3 months... if you l ook back into journal 2 i think spyder's daily charts are similar
If you have a position today, are you going to hold or sell it just in case if the market tanks again tomorrow?
LOL - have a position in GROW. And you betcha I'll be selling, or at the very least, thinning, even if it 'looks' perfect for tomorrow. I think my strategy will be to be VERY cautious right now. IF I go long on anything, I'll sell at close/last hour if anything looks fishy in the slightest bit. I'll look at the S&P also to check my equity vs 'the market' to see any divergence. I'll thin any positions, even if they look great into the close. Don't really see a situation whereby I'll hold a full position overnight right now. Right now, I'm thinking capital preservation. Another train will be along tomorrow/next week.....
Most likely, I will be out at the EOD. I don't want to walk in tomorrow down a point. I will start holding overnight positions once I see a few trades work with follow thru to the next day. - Huskydog
Sold the GRRF at 11.50 for a profit of $300. Still waiting to see continuation from one day to the next. - Huskydog
hey Haroki, what brought your attention to GROW? you got in as a bruno setup right? but there are also tons of other bruno setups as well from our final universe because of this big market drop, so why did you pick GROW and not the others? is it because it's 30mini chart's stochs are all above 90 and all intertwining on the top? by the way, do you use msn messenger? we should chat sometime!
To be honest, I haven't really been watching equities all that close the last few days. My entry was on FAR less preparation than what one would normally want to use. But you're right about the Bruno. The way I spotted it was using a Qcharts feature - net % since open in the quote sheet. I swap the sort around every 5-10 minutes between unusual volume and net % since open and see what's moving to the top. At the third bar - my entry @ 37.68 - volume was good, on pace by PRV to reach 1.2-1.3 avg, and as you note, slow sto bounced nice. I felt great when price bounced on that bar, but about had a heart attack when it crashed right back down again. But held until the end of the day, exited around 3:20 or so when I noticed the S&P start to go down on a fifteen minute chart. Exited at 38.19. + 1.5% - good enough...... no MSN. I'm usually posting from work - my office is an old travel trailer and my connection is through a slooooow dialup. The chart I posted earlier during the day took like 5 minutes to upload !!!! Sometimes I'm at home early in the am - until 11-12 eastern - posting, and then off to work. Best bet would be to chat here...
but there are also tons of other bruno setups as well from our final universe because of this big market drop The only stock showing that it is presently in dry up is MIKR. Unfortunately, MIKR is in the process of being bought out so I think it should be removed from the final universe. Where are you finding quality stocks in dry up? I've scanned the final universe, IBD weekend-in-review stocks having grades A & B, MSN top rated stocks, IBD 100 stocks, and some others and can't find any in dry up right now.