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That sounds cool to me. I hate to but I must get over to Ameritrade and talk to them about some back testing procedures. After 10 a.m. Central. Things seem to slowdown. Oh well, that will give me time to fuss with Ameritrade. chuck
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Follow-through on the stocks I picked this morning.
BIIB --- had very good down potential for short, but it also had the pulled back that I mention this morning. At lease a dollar range between the high and the low.
NBIX -- Little to say about this one, except that it was a very, very good short. In reality it went exactly by the book. chuck Posts: 330 | Registered: Nov 2007
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NBIX --- looking to go in for a buy at 3.96 through 4.42. See resistance area of around 4.42. Do not know how strong it is.
In regards to possible legal issues, be advised:
The above information is not a recommendation from myself to others to buy or sell, nor does it provide to other individuals a recommended timeframe for the entry,exit for a stock transaction.
Any individual can use the information as they so choose, but in doing so, that individual accepts full responsibility for results from the use of the information. -------------------------------------------- I, Chuck, can accept no responsibility or liability for any other person's use of the information for their personal trading. -------------------------------------------------------------------------------- ------------
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At this point in time the price seems to be hovering around the resistance line. Very interesting. chuck
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I guess it's about time to leave the land of Oz. See you guys Monday, everyone have a nice weekend. chuck
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MUNEY -- I shorted BIIB, but did not try the other. Will have to excuse my snowman, but since I was answering your post I thought I would try it out and see how it work. chuck
Posts: 330 | Registered: Nov 2007
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Symbol -- ABK -- has a trading range from 29.92 down to 22.30. Also has very good volume within the range. Just a FYI. chuck
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We both came close this morning. I saw exactly where you were at, I had a four point retracement set on the stock. The last retracement line was about 61%, pullback. That was very close to where you had your buy position. Nice position pick.
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ABK -- stop at the 20 day moving average of the Bollinger band yesterday, before moving back up. I tried to short it at 26.90, no shorts available. Today, I think I'm going to try and find a bottom and then go in with a buy. Looking for at least $.20 on the dollar. chuck
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ano is looking good for next week, great consolidation. take a peek
also atvi is on a breakout from great news. has a bunch of huge titles in the videogame world that should be increasing their income for years. good long term hold. imo.
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Cisco, I sure did. I thought the way it looked this morning. Some of you guys would have shorted it also. In premarket hours, I saw the stock coming back up. So I put a four point retracement on it when it opened up this morning. It retrace back up , around 38%. It was in this area that I pulled the trigger. Then the bottom dropped out. chuck
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Cisco, there will be two photos following. One is the chart with the four retracement lines inbeded into it, the other will be a retracement perimeter guidelines chart.
Start at the bottom of the first photo were you see the blue line of the retracement. This will be the 1% line, use the chart photo as you work your way up.
I had an era in the previous post of 38% retracement. It should have been 2% retracement= .38 cents.
Answering the question how I pick. I have built a formula that looks at the premarket hours versus the previous day's low, high and close in percentage difference . Example: on this particular chart. The percentage difference in premarket hours was 26% lower than its previous days close.
Hope the above information helps. If you have any problems with the above information, feel free to give me a post until we can work it out.
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Cisco, look at the following chart of Circuit City. You will see a red arrow. This is one of three reversal signals with confirmation that I received plus the retracement line, that the stock should reverse to the downside from this five-minute bar.
You will also notice that there are a big red line and a big blue line. This is a moving average band. As long as the stock stays below the red line you are in a downward mode.
Another reason is look at the black perpendicular line, follow it to the top and you will see another other indicator, which is a trend indicator. You will notice that the black or blue line of this indicator is below the center red line and moving down. This also took place at the same time that I got the reversal signals or red indicator and the retracement reading.
This was the reason I went in at that particular time. Now if you will notice. Look at the big red line, which is part of the moving average band and follow it to your right, you will see that the stock is under the big red line until you see the green indicator reversing to the upside.
This is how I traded this stock. And yes the retracement lies or --- Fibonacci ---.
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ABK -- put in an order to buy at 24.60. The high so far today is 27.48. has an average true range per day of around three dollars. ------------------------------------------------ In regards to possible legal issues, be advised:
The above information is not a recommendation from myself to others to buy or sell, nor does it provide to other individuals a recommended timeframe for the entry,exit for a stock transaction.
Any individual can use the information as they so choose, but in doing so, that individual accepts full responsibility for results from the use of the information. ------------------------------------------------------ I, Chuck, can accept no responsibility or liability for any other person's use of the information for their personal trading. -------------------------------------------------------------------------------- ------------ chuck
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Could not find one thing this morning, while scanning in premarket hours.
Tried to short -- SOLF ---but to no avail, no shares available. Also looked at --- ABk --- and --- Circuit City ---still could not see any possibilities. Maybe tomorrow will be better. chuck
Posts: 330 | Registered: Nov 2007
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