Margo's Swing Journal

JCI and BBOX look real good. LM could break out of the 'W' pattern as easily as failing at resistance.

BJS looks real good too but the drillers and major oils are too often event driven for my comfort.

Take a look at GS and LEH, they are right up your alley.

Good luck and keep posting.
 
Nitro,

You very well could be right. BUT, any trade with it from the long side won't come close to matching the risk/reward of shorting it at resistance. As for me, I'm going to stick with the low risk side of the trade which means I'll short at resistance....anywhere between $52.00 - $53.50.....and I'll buy at support.....the gap around $25.00. If I had been able to trade last week, I would have already been short when it hit resistance......$52.00......and I probably would have already covered 1/2 of the position.....just to make sure it was a profitable trade.

Originally posted by nitro

AMGN closed (50.48) above the low on 4/11/01 (50.31) - are you ready, 'cause I think we get a chance this coming week to enter in our respective ways...

nitro
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mdmbud,

I use TC2000. I sometimes look at the 60 minute charts but not very often so I don't have much use for any kind of intraday service.

Originally posted by mdmbud
do you use bicharts for your charting service?
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dgabriel,

I agree...the oils can be tough. They've busted me enough to know I can't be subjective with them.

I have LEH on the radar too......I'd prefer to catch it at the upper trendline and/or the 200 MA. Thanks for the heads up on GS.

Good luck to you as well.

Originally posted by dgabriel
JCI and BBOX look real good. LM could break out of the 'W' pattern as easily as failing at resistance.

BJS looks real good too but the drillers and major oils are too often event driven for my comfort.

Take a look at GS and LEH, they are right up your alley.

Good luck and keep posting.
More...
 

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Originally posted by margo_trader
mdmbud,

I use TC2000. I sometimes look at the 60 minute charts but not very often so I don't have much use for any kind of intraday service.
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margo,

are you scanning for 5/5 ST over 90 or so and then reviewing charts?
 
I'll look to short this as close to the prior high as I can with more than a dollop of room & patience in case it breaks higher. Targets to the mid 30s.
 

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I'm not going to be a buyer if this breaks out. I will, however, short it on a rally from here as close to resistance as I can with a tight, tight stop. It's a bit thin so I'll try it with a smaller position.
 

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Yes, I look for longs too. Unfortunately, there aren't many that meet my criteria. This one is thin as hell and I have not idea what the story is. This is a weekly chart with a very nice base.
 

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QQQBALL,

I've never been able to figure out a stochastic scan on TC2000 I was comfortable with using. I just try to find ridiculous looking bases with the price at or near a key resistance level and the stochs > 90.

Originally posted by QQQBALL


margo,

are you scanning for 5/5 ST over 90 or so and then reviewing charts?
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