Maybe you have hit a home run - it will be interesting to see what it does at around the 21.75 level (if it gets there) - you may get the second BO that Jack refers to:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1332329#post1332329
Spydertrader's Jack Hershey Equities Trading Journal III
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Maybe you have hit a home run - it will be interesting to see what it does at around the 21.75 level (if it gets there) - you may get the second BO that Jack refers to:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1332329#post1332329
However the trades goes, I'm pleased as punch.
It's a kick to be able to trade off of a channel I drew in almost two months ago and haven't altered since. I was able to establish the channel for the current IT around the end of November.
Almost two months later, the price bounces off the RTL of the channel, almost to the penny, freakin' unbelievable
If that doesn't give you a "religious" channel experience, there ain't nothin' that will
It's a kick to be able to trade off of a channel I drew in almost two months ago and haven't altered since. I was able to establish the channel for the current IT around the end of November.
Almost two months later, the price bounces off the RTL of the channel, almost to the penny, freakin' unbelievable
If that doesn't give you a "religious" channel experience, there ain't nothin' that will
Hi PointOne,
Here is one way to interpret the STEC chart. I took the liberty of adding the red downtrend lines for another perspective. YMMV
I like the way you presented this evaluation with notes on the side of the chart.
good trading to you
gooch87
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1333224">
Greetings!
Can people please post their current FU?
Cheers,
Can people please post their current FU?
Cheers,
Hey gooch
thanks for the comments. What this reinforces for me is the extra risk of trying to get in early on a move - the STEC reversal was brutal.
From my analysis of daily charts a much safer approach is to wait for the daily stoch(14,3) to be rising strongly through the 75-80 band on volume - which it was for XING - then sell the day after peak volume is confirmed or stoch falls <80 / 10% target / 6 days.
Others may go for the home runs off the FTT but I'm thinking catching the safe 5-10% in the middle of the move is the way to start out.
My final universe is almost the same as PointOne's. I have omitted the AMEX stocks (personal preference) and RBAK (merger stock).
I also have MED and UCTT. CHL came up on my research, but the float information is suspect. Telechart does not list a number for it, and Yahoo Finance lists the float in the billions of shares. GRRF has a float of only 465,000 shares. Perhaps it was added to the final universe before before the float was so low? I have kept the CHL just as an interested observer. I am wondering what others make of it.
- Huskydog
Thanks Guys,
I appreciate the posts.
There's some that are not on my list, but that's because they have lost rank.
Good trading to you!
I appreciate the posts.
There's some that are not on my list, but that's because they have lost rank.
Good trading to you!
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