posted
STSA --- this one was a little tough, because the volume was low. After everything was said and done. It worked out okay. .
I also had some full with --- SOLF --- . This was one of the ones I tried to short, yesterday, but no shares was available. So to get past this I use the average true range indicator to go at the lowest possible point with a buy looking for a $.20 profit on the dollar.
posted
ABK --- thought maybe I would take a look at this and see if the resistance line was still holding. It appears that it is.
It has hit this line 3 times since it has been in a consolidation mode and pull back from the line. Also the top of the Bollinger band coincides with the resistance line. But the price is on top of the 20 day moving average of the Bollinger band.
Even with this, the average true range seems to be around three dollars from high to low during the day. From a look back time span of 14 days.
posted
SOLF --- trying to duplicate the same procedure. I had yesterday using the average true range indicator looking for a bottom,for today. Then will go in with a buy looking for $.20 on the dollar profit. chuck Posts: 330 | Registered: Nov 2007
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posted
chuck so correct me if im wrong, or anyone else for that matter. but barring some wonderful event, the market should be red come monday based on people cashing out losses for tax purposes?
or is that going to be just a fart in the wind so to speak?
i would think end of year would be the time for people to be selling their losers so they can reap the tax write off, so down trending stocks for the year should have bad days come monday/ the month of december? is this true or more theory than fact.
housing is one sector ive been really keeping an eye on, and although friday was bad the past 2 weeks have been relatively flat in contrast to my proposed theoretical sell off...
^^ just thinking out loud. trying to find major yearly market trends to play in the future. comments are encouraged
posted
Muney, what I will be looking for is a gap downs in order to pick a short position,and if that sector happens to be in the red. That is just conformation for me. As far as I am concerned. The only way that I will buy will be if the stock has been in a long term consolidation and is trading between the B0llinger bands high and low level. This will not be set in stone for the simple reason news can come out and change the entire aspect of the situation.
MY feelings of the market is there are more negatives than positives, but you must keep in mind that I am a very short-term trader.
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 Posts: 330 | Registered: Nov 2007
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posted
Muney, update to the previous post, when I said I would buy if the stock was consolidating and was in a tradeing range between the Bollinger bands . I also should have said it had to be at a 52-week low.
posted
ok chuck. so from ur responses i gather that you are a primarily short selling trader. which in this market is undoubtedly smart. when selling on gap downs isnt the risk of the bounce something to worry about or do you wait it out? case in point is etfc made a huge gap down in mid november. i bought for the bounce and made 40% in like 2 days. this bounce is what i imagine u wait out, and sell short after. but for the next few weeks volitility was crazy. and sometimes stocks pull up to fill the gap. what kinds of comformations do you look for seeing that gap downs break any sigificant short term trend lines?
What trading broker do you use. I have found that many stocks once they take a beatdown( gapdown ) my broker wont let me sell them short. Is there also additional restrictions on selling stocks short when they go below $5? seems nearly impossible to short them at those prices. but maybe i just need a different broker.
sorry to pump u for information. this kind of turned into an essay....
posted
Muney, again I do not stay in a stock longer than one day. I use the four point retracement line,Bollinger Band and a moving average band which consists of a 10 ema high and a 8ema low to help me decide when to go in.
I do not think there is a set Cingular indicator that will tell you, when the best time to go in , but from experience. I have found that the above indicators will give you a very good feel when to go in for your short position.
The only time I can not short is if there are not any shares availableor or I do not have the correct amount of money in my account, which is a margin account.I use Ameritrade for my broker.
posted
i did not realize u are an intraday trader. i dont wake up early enough to do this successfully. being on the west coast, and a lazy bum my trading starts around noon east coast time. although i am always looking for the gap downer picks. so i will keep watching ur moves
my trading is about a week or less holds in hopes for 20% gains. looking into financial sector right now...
posted
I can see the breakout you are referring to, and this is on a daily chart. The Bollinger bands have came together, which represents very light volatility.
I have not seen a gap with the Bollinger bands in the position that they are in at this time. Without the volatility I cannot tell whether you will have a follow-through or not.
I can tell you that you have a confirmation breakdown from a singular resistant area, and I cannot find any support below. You are also at a 52-week low.
For one to follow this particular set up that you have here,you need to be looking at a intraday chart,five-minute chart.
I realize this does not help very much, but the way the gap came into play and the way the Bollinger band looks. There's no way that I can tell, if you are going to have any follow through,.
------------------------------------------------ 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. -------------------------------------------------------------------------------- ------------
posted
Cisco,very interesting my man. Especially when I put the Bollinger Band overlay on the chart. Very interesting indeed. Thanks a bunch. chuck Posts: 330 | Registered: Nov 2007
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posted
comment- i shorted it about a month ago and wish i had held and doubled my investment. yarg!
its getting beatdown by best buy out preforming it big time.
think id wait for a bounce it is extremely oversold...imo
chuck and other shorting investors. housing resuming its downspirial trend. check out dhi today. also phm are the 2 ive been watching the most. mostly very predictible in terms of stocks... these 2 do pay dividends so that is something to be wary of when shorting....
posted
will be watching this one -- goog -- to-day.
There is also a --- M --- pattern that has come into play. If the price breaks the neck line of 652.50, this could be the Conformation for your triangle pattern. chuck
Posts: 330 | Registered: Nov 2007
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posted
housing has been a good play past 2 days. bottoming off lower bb especially dhi. might be good for a bounce tomorrow.
what are you watching for quarter reports. are you looking primarily at short plays?
like cc. i was right about the bounce by the way... bet it will take a dive in earnings. housing should be good for a downplay. hopefully will bounce this week. then burn.
posted
I scanned 2 or 3 time for premarket picks this morning. Did not find one thing worth mentioning chuck Posts: 330 | Registered: Nov 2007
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posted
Cisco,when the stock has gap down in premarket hours. Most of the time I will wait until the market opens and the stock pulls back. Depending on the pull back is when I go in for a short position.
Do not do gap ups at this time because of the market conditions. Although I do see gap ups when I run my scans. chuck
Posts: 330 | Registered: Nov 2007
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