Dry Up Stocks
CUTR & FORD
I also plan to keep an eye on NGAS.
- Spydertrader
CUTR & FORD
I also plan to keep an eye on NGAS.
- Spydertrader
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Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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Tuesday - Dry Up Stocks
CKCM FORD HANS NGAS VPHM
- Spydertrader
CKCM FORD HANS NGAS VPHM
- Spydertrader
Hi, I've been lurking and learning for quite a while and think this is a fantastic resource. Spydertrader and others, you have been incredibly selfless in your support and patience.
Just thought I'd post my chart on VPHM, with the channel (as I see it) drawn in. Time will tell if we get the volume and price rise this morning, but could be a very nice trade if it bounces off the channel
Just thought I'd post my chart on VPHM, with the channel (as I see it) drawn in. Time will tell if we get the volume and price rise this morning, but could be a very nice trade if it bounces off the channel
Attachments
Thanks for the chart on VPHM. I love to buy the final universe stocks at the bottom of a channel since I can set a very logical stop just below the channel.
One thing I now do having been burned a few times is try to draw the most "conservative" chart if I see multiple options so I see a "worst case" scenario before jumping in. Prior to that I drew channels a few times that were then violated and then realized afterward there was another channel that I hadn't seen that would have prevented me from entering the trade.
Anyway, I think your chart is one valid channel and I appreciate you sharing it.
In addition, the close is sitting right on the 50 EMA and 50 MA, which is good and has previously served as support.
On the other hand, I have attached another channel that I think is equally valid which was created by first connecting the recent highs, then drawing a parrellel line for the lows (which touches 3 lines).
In this case it shows that yesterday broke BELOW the channel, which isn't good if it is true.
In addition the price is just below the 20 EMA and 20 MA, which may serve as resistance since this has also previously worked as support at times.
Anyway, your channel might be right and it might be a great time to enter the trade especially since I think it is in dryup, but the stock could drop quite a bit if my channel is right and it penetrates the 50 day moving averages...
Mike
One thing I now do having been burned a few times is try to draw the most "conservative" chart if I see multiple options so I see a "worst case" scenario before jumping in. Prior to that I drew channels a few times that were then violated and then realized afterward there was another channel that I hadn't seen that would have prevented me from entering the trade.
Anyway, I think your chart is one valid channel and I appreciate you sharing it.
In addition, the close is sitting right on the 50 EMA and 50 MA, which is good and has previously served as support.
On the other hand, I have attached another channel that I think is equally valid which was created by first connecting the recent highs, then drawing a parrellel line for the lows (which touches 3 lines).
In this case it shows that yesterday broke BELOW the channel, which isn't good if it is true.
In addition the price is just below the 20 EMA and 20 MA, which may serve as resistance since this has also previously worked as support at times.
Anyway, your channel might be right and it might be a great time to enter the trade especially since I think it is in dryup, but the stock could drop quite a bit if my channel is right and it penetrates the 50 day moving averages...
Mike
Attachments
Quote from mischief:
Hi, I've been lurking and learning for quite a while and think this is a fantastic resource. Spydertrader and others, you have been incredibly selfless in your support and patience.
Just thought I'd post my chart on VPHM, with the channel (as I see it) drawn in. Time will tell if we get the volume and price rise this morning, but could be a very nice trade if it bounces off the channel
Welcome to the discussion mischief, and thank you for contributing. I trust you have found the information located here helpful. With respect to VPHM, mlsignups makes a valid point. Depending on how one draws the channel, VPHM may have already breached the channel, and as a result, could move markedly lower. Therefore, you may find it wise to wait before entering. My charts show support around the $19.59 price point, and price might head to that level before pausing.
- Spydertrader
Anybody catch this one today? TIE really ramped up this morning.
- Spydertrader
- Spydertrader
Quote from Spydertrader:
Anybody catch this one today? TIE really ramped up this morning.
- Spydertrader
Yes, I got it. I'm trying out an alternate DUV calc and it showed up last night in dryup. In at 67.31 , good trade so far.
Ironically, I did a couple of tweaks to the calc method and TIE fell off the list, but luckily so far, I did the tweak after I entered the trade. I'm using small amounts for these trades.
Having mixed results with my second derivitive trades today. I shifted from 5 minute to 10 minutes as the longer timeframe tested out better. But, my code is not right and must have a bug in it. Stopped trading this after 3 losers in a row (small) and am working on figuring out what is wrong with the code. I did have 2 winners (RACK CAS) also.
Doug
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