Instead, why not a ouija board where you contact the spiritis of Wall Street traders who jumped out of their windows in 1929 ?
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What is happening with BRLC ?
- Thread starter wiesman02
- Start date
I say broken resistance turns into support.
Go long between 7.5-8 dollar range. If price breaks through 7.5, then the next stop is 6.5.
If price is able to break 8.64, then the next pivot point is mid-9s. Heavy resistance at 10. Need a volatility event to break through 10.
Head and shoulders on the chart failed to complete.
For trading, here is my formula for the short-term-
7.5-8- buy
8.5- sell
above 8.5 buy
9.5-10- sell
above 10- buy
under 7.5- short
I say most likely scenario is for price to walk down to the roof of the wedge before turning around. I circled a few dojis on the chart. When we have seen this doji in the past, then there was a turn-down. The roof of the wedge and the old neckline of the failed head/shoulders will act as support. If support is broken, then the new support will become the floor of the old wedge or the gap in the charts made in November.
There is a volatility event coming in the future that the chart is setting itself up for. If the volatility event is positive, then the price target is 15.9. If the volatility event is negative, then the price target is 3.3 which will fill the gap back in July.
Go long between 7.5-8 dollar range. If price breaks through 7.5, then the next stop is 6.5.
If price is able to break 8.64, then the next pivot point is mid-9s. Heavy resistance at 10. Need a volatility event to break through 10.
Head and shoulders on the chart failed to complete.
For trading, here is my formula for the short-term-
7.5-8- buy
8.5- sell
above 8.5 buy
9.5-10- sell
above 10- buy
under 7.5- short
I say most likely scenario is for price to walk down to the roof of the wedge before turning around. I circled a few dojis on the chart. When we have seen this doji in the past, then there was a turn-down. The roof of the wedge and the old neckline of the failed head/shoulders will act as support. If support is broken, then the new support will become the floor of the old wedge or the gap in the charts made in November.
There is a volatility event coming in the future that the chart is setting itself up for. If the volatility event is positive, then the price target is 15.9. If the volatility event is negative, then the price target is 3.3 which will fill the gap back in July.
Quote from aaronk321:
eh.. what the hell does it all mean.. what price in and what price out. I was stopped out today at $8.15. I might jump back in on monday.
Attachments
But will that work now that we are in Aries ?
If you really believe that BRLC will be at 10 bucks shortly then you can buy the May 07 10s for 30 cents a share. 5 grand will get you over 16000 shares. That is, if your right about where the stock is headed.
You can lose a lot more with this stock by simply buying the common or shorting. The puts and calls let you lose a matter of a few grand where as going long or short over the long term can be castrophic.
You can lose a lot more with this stock by simply buying the common or shorting. The puts and calls let you lose a matter of a few grand where as going long or short over the long term can be castrophic.
Quote from Tarl_Cabot:
But will that work now that we are in Aries ?
The advantage of common stock is that puts and calls are dependents on the date.
With naked shorting going on in the stock, it's impossible to say that the stock will be up or down by specific dates.
If one is optimistic that the naked shorts will eventually go away, then common stock is best, because the stock is a long-term play.
With naked shorting going on in the stock, it's impossible to say that the stock will be up or down by specific dates.
If one is optimistic that the naked shorts will eventually go away, then common stock is best, because the stock is a long-term play.
Your not speaking like a true "stock operator". I gave you a map of how this stock will trade, I told you to buy the calls. Even though the map may appear more like Christopher Columbus's original map of the world, my map is partially accurate none the less. You would have made over 21% on my advice on the April 7.50s in one day. Those calls will probably move up further tommorrow, possibly. I would have cashed them today though because thats the kind of guy I am.
The max pain thesis and the chart tells me that this will drift back towards 7.50 to make that call interest worthless. The underwriters of the calls have 1 million shares riding on those bets and they wont let them go that easy.
Therefore I will short the stock when it gets to around 9.5. Then cover as it drifts back down towards 7.50 and thank the underwriters of the calls later. The options market isnt pricing this to get over 10 singles by April 20.
The max pain thesis and the chart tells me that this will drift back towards 7.50 to make that call interest worthless. The underwriters of the calls have 1 million shares riding on those bets and they wont let them go that easy.
Therefore I will short the stock when it gets to around 9.5. Then cover as it drifts back down towards 7.50 and thank the underwriters of the calls later. The options market isnt pricing this to get over 10 singles by April 20.
I've said this before:
Clear evidence of the naked shorting is that the stock is on the SHO list, yet it goes down during every strong market rally.
Clear evidence of the naked shorting is that the stock is on the SHO list, yet it goes down during every strong market rally.
Part of being a good trader is knowing when to buy a stock not just which are the good stocks. And despite the fact that this stock has been El Dogo I think today might be buy day.
There was a lot of folks holding on for the mid april update the stupid CEO shot his mouth off and promised the update the update came generally in line the stock sold off and reached an important low = $7.25
Today there was an interesting gap up on the open for no reason. With some stocks it's all the bad news baked in and with this one it's all the good news baked in I feel sorry for the investors and I fear unless someone talks me out of it I may become one today! ~stoney
There was a lot of folks holding on for the mid april update the stupid CEO shot his mouth off and promised the update the update came generally in line the stock sold off and reached an important low = $7.25
Today there was an interesting gap up on the open for no reason. With some stocks it's all the bad news baked in and with this one it's all the good news baked in I feel sorry for the investors and I fear unless someone talks me out of it I may become one today! ~stoney