| StockFetcher Forums · General Discussion · Just a Heads Up | << 1 ... 23 24 25 26 27 ... 50 >>Post Follow-up |
| txtrapper 548 posts msg #30874 - Ignore txtrapper |
1/28/2004 6:24:41 PM Zuber GLGS....$1.34...broke $1.36 support read by 25 Wk.MA, steady downtrend all day. It may bounce @ $1.32, I read support @ $1.29, I determine support by looking at the 15 day MA. Let's see what happens here. TxTrapper |
| txtrapper 548 posts msg #30875 - Ignore txtrapper |
1/28/2004 6:35:28 PM petrolpeter KRY...sitting on the LBB on a 20d/30m chart, may pop tomorrow, wait for green. DIGL...bounced off the WMA(30)today up +.10. VITX...yea, increased volume, bounced after two down days up +.30 TxTrapper |
| EWZuber 1,373 posts msg #30879 - Ignore EWZuber |
1/28/2004 10:26:35 PM txtrapper Different view of GLGS action here. The stock formed a wedge pattern ( 30 Min. 5 day chart ) starting with the high formed on 1/22 at 3:30 @ $1.52 across the high on 1/27 at 11:00 @ $1.46 and the high this morning at $1.44. The bottom of the wedge started at the low of 1/23 at 9:30 @ $1.33 to the low of 1/27 at 3:30 @ $1.37. At the open GLGS broke a short term resistance trendline at $1.39 and moved higher to test resistance at the top of the wedge pattern at $1.44. Resistance held as GLGS bounced down and then traded slightly lower and sideways until 1:00. At 1:30 the mornings gap up was closed @ $1.39. GLGS bounced up from here to $1.41. At 2:20 NASDAQ fell off a cliff and GLGS went down with it. The supporting TL was at $1.39 late in todays session when it was violated. At this point I decided to bail because primary short term support was being violated. GLGS is extremely oversold on hourly chart now and may offer another entry but I will wait for a Res. TL break before entering. |
| txtrapper 548 posts msg #30883 - Ignore txtrapper |
1/29/2004 7:09:52 AM Zuber The 15 day MA works like a charm for finding short term support. And it's simple too! TxTrapper |
| EWZuber 1,373 posts msg #30891 - Ignore EWZuber |
1/29/2004 5:28:38 PM TxTrapper I have used the 15 DMA extensively and still use it for end of day analysis but I prefer to use day trading techniques to enter positions rather than end of day data. It is like putting a microscope on the action. When done correctly it offers the possibility for a much more accurate entry with less loss when the position goes the wrong and more gain when it goes right. Also I noticed that you and wallman talk about entering after volume has picked up. This is not my style. I don't want to follow, I want to be one of the first ones into a good position. This is before the volume appears. The NVDA entry was a good example. |
| txtrapper 548 posts msg #30893 - Ignore txtrapper |
1/29/2004 5:59:38 PM Zuber http://www.incrediblecharts.com/technical/volume_patterns.htm Volume is used for two major purposes: If a trend is not accompanied by an increase in volume it is considered to be weak and lacking commitment. Increases in volume often precede changes in price. http://www.investors.com/learn/C01f.asp Tracking Institutional Demand for a Stock One of the most useful ways to spot current institutional trading is to study Volume. This is often the first sign that institutions are moving in or out of a stock in a major way. This should clarfify the use of volume before entry. TxTrapper |
| jthehut 124 posts msg #30895 - Ignore jthehut |
1/29/2004 7:32:17 PM Zuber: does it look like we are testing support for the DJ/NAS yet? Looks like we touched bottom of long term lri anyways... And, how do you see the future, near and longer term? Any insight, as always, is much appreciated! ~the hut~ |
| wallman 299 posts msg #30896 - Ignore wallman |
1/29/2004 8:01:13 PM hi ZUB, you say you don't want to follow but the clue is right there in front of you,the volume build-up,why would you want to guess when it's going to come when you can see it has and take the profits very many of these give quickly.if you go to my last post on this thread 1 - 22,you'll see i mentioned DLGI looked like it still had a ways to go,you'll see it went another 46% after that,AEGN another 38% after that post,if you happened to stumble onto my site you'll see i posted DRF and ECGI the day before they gained 38% and 55%,of course most don't gain like that but you have a decent shot at them,the kind that can pay the bills for a month in a day or 2,look at NT,a favorite trader of mine,how it took off on 1 - 7 with monster volume,did the same on 9 - 3,the volume is still there,it has tested the EMA13 the last 6 days and i know i have a 80% chance of a nice gain from it once it holds green after that lenght of time of 5 or 6 days ,to me it's all about the odds and what i can take quickly,as always,respectfully,MUDDY |
| EWZuber 1,373 posts msg #30897 - Ignore EWZuber |
1/29/2004 8:54:24 PM txtrapper I think maybe you misunderstood what i was trying to say. I have a working understanding of volume and I use it in my TA, however I do not typically look for an increase in volume to find my positions because by the time volume shows up the position that I am looking for has already passed me by. I like getting in within 1 ~ 2% of primary support or right at the break of trendline resistance when confirmed by a stochastic crossover. These are my ideal entries. The volume usually comes in right at or just after the Res. TL break. If I wait to find it on a screen or whatever it is too late for me. I don't like having support more than 1 ~ 2% below my entry. I like to see the volume after I get in as another confirmation the position is viable. |
| EWZuber 1,373 posts msg #30898 - Ignore EWZuber |
1/29/2004 9:49:39 PM wallman Why do you think I am guessing? My system is simply different than yours. DLGI is an OTCBB I can not trade those at IB. AEGN offered several entries. The one I like the most was on 1/13 as TL. Res. was broken on the hourly chart and Stochastics +xover on Weekly, Daily & Hourly chart. Putting all 3 time frames in phase in accumulation. Notice there is no volume yet and the entry is at about $2.26. Waiting for volume would seem to get me in at about $2.69 on 1/20 if I have interperated you correctly. ECGI was one of my picks also. I first mantioned it on TxTrappers 'Hot Stocks' on 1/2. On that thread on 1/5 I said I was looking for a bounce up off the 200 DMA which it did while also giving me a Res. TL break and a stochastic +xover on Weekly, Daily, and Hourly charts putting all 3 time frames in accumulation phase. Entry point at about $0.62. Thats a 125% gain as of todays close. I don't know where your entry was exactly. I couldn't get in though because my small amount of capitol was already tied up. You and I are on two different paths. I have many many obsticles in my way to success. If my money is sittting in 2 stocks I am out of opportunity. All I can do is watch the other entries pass me by. If I close a position, I am done for the day because the trade has to settle before I can trade again. I am working on a shoestring and do not have the resources to take a position here and there like most of you do. Until you have to try and make something like this work I don't think you can imagine it. Best of fortune |
| StockFetcher Forums · General Discussion · Just a Heads Up | << 1 ... 23 24 25 26 27 ... 50 >>Post Follow-up |
Copyright 2022 - Vestyl Software L.L.C.•Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data
Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus