Yes, It is possible. Real Time Idea's for "This Market"

Originally posted by limitdown
chats usually require person+1

I know that when I talk to myself, I usually loose the arguement..

Uh, how are you doing so far?
More...

The guys with the butterfly nets and white coats are closing in.
 
taking a small bit of profit in BEAS (9.90) and putting a breakevenish stop on the rest. Probably will look to hold that bit all day.

Brandon
 
Here is a bit of a lesson on the BEAS breakout.

[10:31] <Brandon> let me know when you guys have this
[10:31] <Brandon> jacob
[10:31] <Brandon> pay attention
[10:32] <Brandon> ok this is the five minute chart of BEAS
[10:32] <Brandon> bring up a daily as well on your own
[10:32] <Brandon> and lets look at that first
[10:32] <Brandon> you have the daily up?
[10:32] <Brandon> this is very simple
[10:32] <Brandon> just a trap
[10:32] <Brandon> if you look at yesterday
[10:32] <Brandon> we had a very strong marabozu
[10:32] <Brandon> opens at the high
[10:32] <Brandon> closes at the low
[10:33] <Brandon> and the range was expanded
[10:33] <Brandon> today it opens right near yesterdays high
[10:33] <Brandon> and when it clear is
[10:33] <Brandon> this of course will put anyone who sold yesterday under water
[10:33] <Brandon> and most people dont like going to bed fairly comfortable
[10:33] <Brandon> and having to wake up in a bit of a panic
[10:33] <Brandon> and most do panic
[10:33] <Brandon> coz they dont have a plan
[10:34] <Brandon> ok
[10:35] <Brandon> so the daily chart there is pretty simple
[10:35] <Brandon> now lets look at the intraday
[10:35] <Brandon> which is up on the site
[10:35] <Brandon> we have a five minute chart
[10:35] <Brandon> you can see the gap here as well
[10:35] <Brandon> and see that in the first five minutes of day
[10:35] <Brandon> that things were fairly strong
[10:35] <Brandon> and then cooled off
[10:35] <Brandon> but
[10:36] <Brandon> when they cooled off
[10:36] <Brandon> it didnt cool off by going down
[10:36] <Brandon> instead it was strong
[10:36] <Brandon> and cooled off by going
sideways
[10:36] <Brandon> this is basing action
[10:36] <Brandon> and on gaps
[10:36] <Brandon> the best thing to see
[10:36] <Brandon> and on breakouts after big gaps
[10:36] <Brandon> these are the kind of breakouts that work
[10:36] <Brandon> big gap on the daily chart
[10:36] <Brandon> and holds on the intraday charts
[10:36] <Brandon> then it breaks higher
[10:37] <Brandon> make sense?


Brandon
 
The TRIN is very low, showing nothing but buyers. I would expect further upside this afternoon. Would not be suprised to see the NQ up 125 points at some point today.

Brandon
 
Today produced one of the strongest trend days we have seen in some time. It was fairly obvious that this would occur before the market even opened. Here are a few pointers. First, when you see much larger than average gaps, there is a tendancy for them not to fill. Gaps which are 4 times larger (in percentage terms) than the average gap are very rare and "never" fill. When you have a gap that is 4 times greater in percentage terms than the average gap, you should NEVER fade that gap, you should always get on board at the first opportunity and go with it. This applies to indexes only, not individual shares. Also, Trap Gaps almost never fill. Trap gaps occur when you have the prior days open at or near the days high, and the close at or near the days low, then on today's open you immediatly break yesterdays HIGH. This traps people, they don't have plans and at the VERY LEAST you will get strong short covering. The reverse is true for shorts. This idea also applies to individual stocks. Yesterdays range in the Nasdaq was also an NR7, and breakouts after NR7 days are "always" buyable.

Going into tomorrow you should not expect a repeat of today's performance, though most people probably will..which is exactly why its unlikely to happen. Today we had a WR7 (widest of the last 7 ranges) day, and most generally the days following a WR7 are back and forth. Strong rallies are shortable, strong declines buyable. Extremes buyable or sellable depending what the extreme is (fade it). This is just a general rule, Toby Crabel has great research on both WR7 and NR7.

Hopefully with this thread I'm in some way prooving that there are a good money making opportunities, even in "this market". They are out there every day if you understand gaps, breakouts, retracements etc and when and how to use each to your best advantage.

Brandon
 
I was in Las Vegas over the weekend and on Monday for the Money Show. Talk about a dead city. It was Sinco De Mayo and the strip clubs where EMTPY. Totally dead, and the dancers said its been terrible for some time. The Casino's were the same story. With some of them sitting near 52 week highs, small shorts (IMHO) would be in order in this general area.

Brandon
 
There is always tomorrow right? That is what the song does say. Looking toward tomorrow as I said in the prior post I would not be expecting a repeat of today at all. We have a good chance of taking out today's highs, but the moving average resistence is pretty strong etc. Also as I said the day after a WR7 tends to be pretty sloppy.

A few stocks have interesting daily charts for possibly more upside. Here are a few of them for you guys to look at. USB, NVDA, NOK, GM.

Good luck,
Brandon
 
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