Wednesday, May 14, 2008

Juicy!

6 comments:

upsidetrader said...

group looks great,stp especially-you playing here?

Stewie said...

i am not sure what to make of this shitty close on the indexes. everything came down like a ton of bricks. STP should eventually work out but just know that earnings are coming up soon.

Fadi said...

Stewie,

This comment is not particular to this chart, but it is a trick I use to know when to sell during day trading.

I use the CMF(20) indicator in stock chart, and I overlay a EMA(10) over it.

Go over the CMF tutorial section is stockchart.

Basically as long as the CMF is above 0.2 and flat or increasing continue to hold. Once the CMF start turning down, pull the trigger.

Watch for a couple of days.

Also the inverse is true, if CMF is negative and decreasing, stay away.

By the way, send me 1% with all the extra money you are going to make now. HeHe.

By the way, you have big balls pulling these double bottom trades. I wish I have balls like this.

Stewie said...

hi fadi, i'll look into it. thanks for the heads up. also, i don't know why people are scared of the double bottom trades. I think they are easy to trade, you have a clear and tight stop loss area. you are buying weakness in strong stocks. you are buying a retest after capitulation selling. the only thing about it is that it requires good analysis skills to spot the pattern. i love it!

madhatter said...

stewman, wanted your thoughts on DNR. looks ripe for a huge breakout, i just can't decide if it has one last leg down, narrowing the triangle even more before breaking out. thoughts?

http://stockcharts.com/h-sc/ui?s=DNR&p=D&yr=0&mn=8&dy=0&id=p87958635362

Stewie said...

hi madhatter: DNR looks very wide and loose to me. tough to trade. I would bet a retest of 31-32 before attempting a breakout.

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