Thursday, June 18, 2009

How About That FUQI ???!!!

11 comments:

bv said...

As Yoda would say, "One up day does not a trend make."

Jamie said...

Great call Stewie!

I found a nice spot and jumped in.

Stewie said...

right on jamie! :-)

Anonymous said...

what was the major thought behind this setup. there are lot of pullbacks which stop with 20 dma.

do you also filter for top moving sector.

bill

Stewie said...

bill, this was a holy grail setup. i talk about these on my blog all the time. strong stocks that pullback to the test the 20 day MA in an 'organized' manner usually are successful. i do not use any filters but i am sure, it's very possible to filter to find this kind of setup.

see this: http://www.hardrightedge.com/wizard/tl2.htm

Anonymous said...

indeed, nice call. why do you think this one worked where as joyg or thqi failed (or have yet to move)?

mt_ppr

Anonymous said...

this pattern was evident in many chinese adrs, CTRP, CYOU and some others. All of them paid big if you played it

Stewie said...

mt-ppr:

joyg is not a very strong momo stock like FUQI. But i think joyg should work if you give it a couple of days. stop would be under recent lows.

Stewie said...

anon: that pattern is called a Holy Grail Setup(HG). i made tons of posts on them over the past 2 years. and you are right CTRP offered a beautiful one a couple of days ago.

Market Monkey said...

BV...as a profitable trader would say, "It doesn't matter if you're right about the trend, it's about managing risk to make money" lol.

Blue said...

4pts in two days and it reversed from a 3 day down trend on the hourly.

Way to catch it and ride it Stewmeister. Home run.

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