Wednesday, July 30, 2008

BreakOuts & Stock Setups







9 comments:

Nergo said...

Stewie,

Thanks a million for your MEE pick today. At work this morning I thought I would glance at WallStreak and I just happened to catch your alert pop-up on my monitor. I reviewed the MEE chart ...looked good ... and I bought some immediately. Thanks to you I earned about $50 in about 20 minutes.
As others, I really appreciate your willingness and openness in sharng your knowledge and alerts. Any extra $ I can earn helps tremendously. (The bills don't seem to slow down with 3 kids.)

Question: Would you recommend buying IPI in the morning before the market opens and then plan to sell IPI when the market opens when IPI will porbably/hopefully will go up??? Am I too late to buy IPI??

Thanks again Stewie. (Your name is becoming a household name around my home. I live in Alabama)

Blue said...

If oil continues to sell off I think these coal plays might be forming the right side of the shoulder vs a break out of the downtrend. That is if OIL still = 1 Giant Commodity trade, which I have no reason to believe has changed. ANR def. head and shoulder territory at $104. Have yet to trade a H&S pattern and will be watching it closely. There are also a lot of news related hedge fund issues with ANR and CLF.

Blue said...

I love this guy. Stewie read this! Wish I switched to ANR, was starring at GDP till the close.

http://www.fundmymutualfund.com/2008/07/bookkeeping-cutting-some-goodrich.html

Ragin' Cajun said...

Good setups, ENER should run from here.

Stewie said...

rc: i like that ENER too bro. lookds yummy, also IPI looks swwet. i have 1000 ONH in IPI.

upsidetrader said...

stew
i was short coal and steel most of the day and caught MEE for a nice long side trade in the afternoon-if i remember correctly, it was forming a beautiful bull pennant at the close

upsidetrader

Stewie said...

WTG upside but the market created an yet another optical illusion for the bulls. these pattern looked ripe for follow thru and reversed their path today. I got screwed holding GDP and IPI overnite. all those patterns are back to neutral now and we'll have to see how they develop from here.

upsidetrader said...

stew

long term investing has been cut to about one hour

upside

Stewie said...

lol. i have been living in the 1 min charts.

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