EWZuber
1,373 posts
msg #30988
- Ignore EWZuber |
2/6/2004 12:55:02 PM
Sold CRUS @ $7.64. The 1 Hourly chart was overbought and up against a resistance trendline @ $7.65. The 5 minute chart was reaching overbought around 85 for the second time near the top of the hourly chart cycle and overhead supply was still plentiful.
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EWZuber
1,373 posts
msg #30989
- Ignore EWZuber |
2/6/2004 1:03:04 PM
Looking at GLGS again. Played it yesterday from $1.11 ~ $1.17.
It's looking very oversold on hourly chart at a stochastic value of 0. Selling volume is all but gone.
The stock has already confirmed support at the 25 Week MA.
JMHO
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travlr
80 posts
msg #30994
- Ignore travlr |
2/6/2004 4:30:47 PM
EWZ,
Hey there. I get amazed at how different our charting sources read. I've been using eSignal and find that your analysis' sometimes differ, in a big way, from what my charts read.
On your last post(2/6 1:03) you saw Hrly Stoch @ 0, and supported by 25WMA (GLGS).
On the Hrly stoch You must have been refering to the Fast(5,3), because I have the Slow (5,3) at 10.
And the 25 Wkly SMA.. I have the entire Wkly candle BELOW, w/ the open of that candle "kissing" the 25 Wkly SMA as resistance.
I've made these observations several times in the past, as well as, noticing that my quotes from eSig and IB will also differ. Even though I realize the delema of different sources providing different data, it simply antagonizes wanting to "Be On The Same Page".
Later,
travlr
P.S. Nice call on CRUS... you nailed that entry!
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nktanaka
5 posts
msg #30999
- Ignore nktanaka |
2/7/2004 2:12:55 AM
EWZuber....Thanks for always posting a detailed response to my questions. Although I don't post a lot, I'm always on this board reading your thoughtful insights and have hopefully learned a lot. Hopefully this will equate into profits.
nktanaka
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txtrapper
548 posts
msg #31002
- Ignore txtrapper |
2/7/2004 8:17:19 AM
Zuber
CRUS....is "just starting" a strong move upward, this is where I "buy and hold" until Stochastics (10,10) crosses down on a 3m/d chart CRUS could easily go well into the $8.00 range from here.
TxTrapper
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EWZuber
1,373 posts
msg #31017
- Ignore EWZuber |
2/8/2004 3:10:39 PM
txtrapper
I agree. CRUS is just beginning a good run and I did not stick to my trading discipline when I exited the position. The hourly chart Supporting Trendline was never violated on an end of hour basis. So there never was an exit signal.
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txtrapper
548 posts
msg #31018
- Ignore txtrapper |
2/8/2004 7:03:44 PM
Zuber
Check these out for Monday; PQUE,CRDM,WHT,WRLT
TxTrapper
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EWZuber
1,373 posts
msg #31019
- Ignore EWZuber |
2/9/2004 2:21:45 AM
TxTrapper
GTEC did very well. I have come to really like that particular set up.
The reason I sold CRUS is because I liked the way that GLGS looked and wanted to see if it would break short term TL Resistance and make a move in the last hour of the session. I don't have enough capitol to play them both at the same time decently.
I'm just about fully invested now and have a bunch of stocks that i would really like to get into but have to wait now.
PQUE... Looks good. It has bounced up off of 9 Month TL Support and the 25 WK.MA.
CRDM...Don't like this one. It has no stable long term support here. Closest support is the 200 DMA which is in a slight downtrend and this does not make for good support. It has broken all Trendline support and Friday it came up and tested old Trendline support as resistance and also tested the 50 DMA as resistance which was confirmed for now. Really don't like that. On the Weekly chart the stock has just begun a longer term distribution phase. I suspect this one is going lower.
WHT...
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EWZuber
1,373 posts
msg #31020
- Ignore EWZuber |
2/9/2004 3:09:49 AM
TxTrapper
Must have hit a wrong key and posted before i was done.
WHT...is probably going higher this cycle on Daily charts and it did close above intraday resistance Friday but WHT is a bit overbought on the Hourly chart and the premo entry was a couple days ago when WHT bounced up off of the 100 DMA @ $2.53. Also there is TL Resistance at $2.90 ( & falling ). This could limit gains in the short term. Daily chart stochastics are at 64 already so the accumulation phase is already well under way. Longer term I suspect it is going substantially higher as Weekly chart stochastics fast and slow lines are converging.
WRLT...Looks to be going lower, IMO. TL Support is at $1.82 ( & rising ) and on the Hourly chart the stock is a bit overbought and so far has just been testing and confirming resistance at the 15 HR.MA. for the past 5 sessions. Weekly chart looks lower too.
But thats JMHO
Best of fortune
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EWZuber
1,373 posts
msg #31021
- Ignore EWZuber |
2/9/2004 3:28:27 AM
travlr
Sorry the 25 WK. MA was a typo, should have read 50 WK.MA.
The stochastic value in question read 0 on Bigcharts ( 5,5 timing )( didn't feel like loading my real time charts up at the time ).
My RT charts indicate a stochastic value of 4.55 at the bottom of the cycle.
Yea that entry on CRUS was sweet. This is why I advocate using day trading techniques to enter a position. It can make you more money, it is safer, and if you are aware of the intraday TA you won't be buying when intraday TA indicates the stock is headed lower.
Using end of day TA one may have bought CRUS at the open ( ~ $7.41 ). However looking at a 5 minute chart I could see that it was overbought and likely to go lower before moving higher so i waited.
When it became oversold and dropped to test the 15 period MA ( 75 minute MA ) @ $7.27 as support I jumped in a penny higher.
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