Stopped out PNRA 66.01 - .49 Will look to re-enter. At 20 ema, but 50 ema has been rock support. The worst thing one can do is walk away from a stock if it does not work out first time. You have to keep watching it.
agree, after yesterday's speech I am thinking we'll party like its 1998...although in a different sector of the economy. Greenie apparently has a bubble fetish, if not stocks, then real estate.
NVLS long 500s @50.86. Tight stop. Reason: Gap closure, technical rebound. Bears won out on NVLS Rosy outlook. Market is chop soup.
I have found that the first 2 days of the week are often my best days and I am not surprised why: I have had the weekend to reflect on the market and have had ample time to study charts and current events. So I wish to air some observations and hope to stimulate some further discussion and feedback. It seems that ET has a lot of good minds and maybe we can meld them into a more powerful weapon for us all. Here are some of the stocks that I have flagged for further review this weekend and I list them here because they exhibit different chart patterns: BA: Getting the crap kicked out of it. Double top behind, but a little late to short. What's interesting is the daily pattern of the last 2 months recapitulates to some extent the weekly pattern of the last 2 years, which is a massive inverted H&S with a double top. On a weekly scale it is not too late to short but I haven't the patience to operate on a weekly scale. NVDA: I think still good for a short and the long term trend line is around 29-30, at which point heavy buying might emerge again like it did the past 2 times MER: Inverted C&H. I would short at 48.40 to be aggressive or 47.55 to be conservative with an initial target of 46.50. If Monday is an upday for this stock then I would re-adjust the entry point. AGN: Runaway with a spinning top. Ideally a pullback for a few days could give a good entry, but if that doesn't happen,watch how it challenges 70 where there is solid resistance. FRX: Broke down from its shelf and I would look to short it on a pullback. ESRX: I was long 60.11 today on this and scratched the trade when I had to leave for the morning. I tried to get back in at 61.35 but was interrupted again and cancelled the order. Now I know the next time I get in its going to reverse on me. It has broken to a new 52 week high and is technically and apparently fundamentally sound and a pullback at least on the hourly charts might offer a good entry. EBAY: In a nice pennant formation. Today it had heavy volume with a large range and close toward the top of the range. There is no clear cut entry point but it looks real good for a long, maybe over today's high. FVB. Momentum pullback and today was the day to enter. FHRX. Enormous volume, broke out of a 2 month base, and closed below 200 dma, but above all short term MAs. YHOO. No particular pattern, just a dog stock buried by enormous overhead supply.
where the hell is your cumulative P&L??? what good is all this without a P&L? ___________________________________________________ has anyone seen my minkey? his name is candle.
Dearest Brother Pussy, Please give Brother Gabriel a chance to ponder upon the format of his P&L presentation this weekend... Thank you, Candle
No trades today in the vein of this thread (swing/position). Beginning with the next postion taken, I will maintain a running P&L of open and closed trades. I will post the trade to ET as soon as practicable after I confirm the trade, along with any comments and targets/stops.