Recent content by Derrik Hobbs

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Did you see my previous post? I also sent you those updated charts...did you get them? I still think this thing runs up into that daily resistance zone still 3 or 4 points higher. -D

Based on the following I am covering the AMGN short: 1) Previous weekly decline was 17 weeks...this decline from the July high is now at 17 weeks...very symmetrical. 2) AMGN is approaching daily and weekly price support and with Tuesday's price action suggests we could be in for one of its...

Gettin ready to send 'em out tonight. -D

Thank you Jay. Who knew ET would have such a drama unfold. This is better than made for TV movies :p

The "man of the people" thing was me making light of the matter... 618 Capital Partners, LP ...I also emailed you personally so we can talk. I know there's an ounce of love somewhere in ya Traderkay -D

Sorry you feel that way. Your perception is not reality. Oh, this "shovel" I'm using to trade AMGN must be broken...The trade is only up 10 pts...can you help me "dig" out of this horrible trade. With all my love, Sincere Man of The People :D

Hey there. You're right, you got me...I'm all snake oil. Actually, I'm a trader like everyone else that goes through hot and cold periods. I trade reversal and continuation patterns against Fib time and price zones. The worst kind of market to trade my style is in a slow churning up market with...

Still Holding AMGN Short...for those interested :) If you would like an updated chart of what I'm looking at feel free to email me.

Patience is tough:D ... especially with these longer term set ups Nice trade man! -D

Thank you :)

.gif file is too big to post...so I guess if anyone is interested just email me and I'll send you the chart. Thanks, Derrik

Our short trade is working out nicely. However, the daily chart that I've attached is doing a symmetrical two step pattern into a Fibonacci price support zone. On today's move down I took 1/3 of my position off at day's end and have trailed my stop to 71.31 on the rest, which is basically break...

Slowly breaking down or buildinga base to make a thrust to the upside? The key resistance is from 69.61-71.18. The last two countertrend rallies since the high we put in have each been 3.2 points from low to high. So, if we travel higher than that on any rally from here, I'd be concerned...

My response to the keep or sell before earnings is this: Whatever you do...do it all the time with all your trades. So for me I choose to hold positions into earnings. Sure...I get gapped against me sometimes. I accept that as a risk of trading. But that is evened out by the positions that...