[8:58am ET] I will be watching closely today as the President speaks about the economy. Will he appear Presidential or will he, once again, act like he is America
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Good looking chart on FSLR – better than 4 – 1 R/R on P & F – good eye Dave. Futures are flatlining this a.m. The cup and handle looks weak to me and I think this may be one to put on the radar for a reversal.
I’m not so good at the patterns, but the FSLR daily chart may show a cup and handle. That’s the main pattern I recognize from Vad’s CTAB lectures. The fun part is, it appears to be ready to either break through or fail today…
It looks like buy on a move above 150, stop at 130. Kind of a big range. 🙂
Anyone have any opinion on this one?
FD: No position
That does not look like a Cup w/handle formation, to me. A true (Wm. J. O’Neil) CwH forms near the highs of a price consolidation. Even so, CwH formations can form at lower levels, but they’re not as valid as the ones written about in O’Neil’s books. FSLR looks like its forming another large wedge, similar to the one it formed from mid May of last year until last Sept., when it ultimately broke down with the markets. Note how after the stock fell through the trend line early in Sept., how it rallied back to the lower trendline at… Read more »
Looks like a good potential Dave, for sure the cup the handle is a little sketchy
http://tinyurl.com/dmahnx
another messy trading day coming up, I fear.
http://www.businessinsider.com/henry-blodget-livin…
waiting to see if gold respects present support.
I figured that since I am ready to close my FAS puts tomorrow, I can let my SKF run a little longer in the spirit of taking profits *gradually*. So I am setting a sell limit order at $80.50 for 50 shares I bought at $60.50, and keeping another 50 shares to sell at higher prices (say $100).
http://screencast.com/t/rdrFs74i
waiting for FAZ confirmation
http://tinyurl.com/cfctgy
He started Investors Business Daily (IBD).
Note that he does promote his upcoming book. But there are lots of good advice, especially for beginners.
Does anyone now how KGC would have a recorded low of $8.41 for trading today? I see it on stockcharts and google.
TIA
I would say its probably a bad data tick, doesn’t show up on the 1 min chart. Happens all the time and usually disappears withing 24 hrs, ie trades are checked and then the database is corrected.
You see it once in awhile and usually it will not be on the chart the next day. I believe its a computer malfunction of some kind. Not positive though.
Someone must’ve sold by accident at that price. Maybe they were going for 14.8? Ouch!
Otis- Good question. That also showed up as the low on my trading screen. Anyone?
Nasdaq has the same low and I scanned all of today’s trades and couldn’t find it.
Guys, how does one get the trade data for the day?
I found it… It was a GS buy.
I hit my stink bid exactly today!!
From Barry Ritholtz:
Leave it to the clever boys at Goldman Sachs to turn dross into gold: They have come up with a way to hide massive losses so clever, it requires special comment: The Orphan Month.
http://tinyurl.com/da3f5n
Placing a sell limit order at $0.9 for the 10 contracts of FAS April $7.50 puts I purchased on Thursday EOD at $0.45, so as to get a nice round 100% gain. Don’t want to hold these puts until the expiration because FAS can have a strong move in the last 30 minutes on Friday and make my options expire. So it is better to sell them while there is still some volatility premium left in them. Maybe FAS will gap down tomorrow and will go up for the rest of the week, and so I am placing a sell… Read more »
zzzz
I stated earlier what I think it takes to be a great trader, I should have added that it takes, at the same time, over extended periods, being in a comfort zone but also being in a state of an emotional high. Do you recall the movie Apocalypse Now? I think of that often when I put everything I have on the line. http://www.youtube.com/watch?v=vHjWDCX1Bdw For the large majority of owners of capital, they have careers and other interests that take precedence. One could say they missed the involvement of Vietnam. That’s unfortunate. Not the killing, of course, which I abhor,… Read more »
Patton on War: “… no other human endeavour can match it; compared to war, all forms of human endeavour shrink to insignificance”.
I tend to think that science is a field unmatched in every other human endeavour, and that any achievement in war really only deserves passing significance as an unmitigated tragedy run by fascist dufus’s.
But I’m not in the least bit scientific.
This blog is going right off its bleeding rocker with politics and sounds a lot like a trade union lounge by times.
Bill,
Great post, need more of these psychology of a trader story’s.
Oh, detachment and discipline…no one told me that I had to learn both attributes when I started this journey…lol.
By John Collins, [email protected] Gururaj “Desh” Deshpande, founder and chairman of Chelmsford-based Sycamore Networks Inc., among other high-tech companies, struck an optimistic tone at Lowell General Hospital yesterday Deshpande is also founder and chairman of India-based Tejas Networks, a manufacturer of optical transport equipment, and lithium battery maker A 123 Systems in Watertown. But Deshpande, whose A123 Systems announced in January plans to build a plant in Michigan to supply battery systems for 5 million hybrid vehicles, “or a half-million plug-in electric vehicles per year by 2013,” didn’t come to LGH to sell business leaders an electric car battery. Rather,… Read more »
I just received an email that Mr. Deshpande will be visiting my company next week to give a talk. Sounds like an interesting guy. You’ve piqued my curiosity and I think I’ll attend.
..
…never mind.
…
Mark- TYH did not hit my 63.xx bid during market hours, but I see the last after hours trades changing hands at 59.58.
2nd- Looks like you will be able to pick it up PM for less, if you are so inclined.
Interestingly, my FAS sell/XLF buy/ FAS buy, last Friday and today turned out to be the smart play for an additional 4%…For now.
Noticed that a couple of Education Stocks caught a bid today (ESI,DV) in an otherwise down market. Looking at DV (Devry), I wonder if it might not be a good time to attempt a little range trade with a possible 50% upside, if it stays range-bound. A market downturn, with an extension to this recession, would probably support this kind of issue, I guess. Do your own DD.
Mack – looks like a low risk entry with a stop below $39.
http://tinyurl.com/cs42mh
yep
wasn’t bad but Kaimu lives closer to where it happened
ALOHA !! YES … Big Island, known as HAWAII, not to be confused with the State Of Hawaii. I still get people who call here and ask if we ship to the USA! I used to waste my time trying to educate them that Hawaii is part of the USA, but I gave up and now I just say … “Yes, we do ship to the US of A!” QUAKE? I didn’t even feel it! I swear every time there is some earthquake or volcano lava flow the media makes it sound like the entire island blew up! I have… Read more »
Following article from Forbes discusses a certain HB&B involved in some sort of market corner in oil:
http://www.forbes.com/forbes/2009/0413/096-sachs-s…
(via Jesse’s Cafe)
not mine:
http://www.incrediblecharts.com/tradingdiary/tradi…
2nd – how much emphasis do you put in Twiggs? The reason I ask is because I started looking back at some of his postings from October 2007 and again during the late spring 2008 and it doesn’t seem like he was predicting things too well…I guess things can change on a dime with that technical stuff, though…
India is having national election for parliament going on, once every 5 year, will be over within a month.
I will be careful to buy India related equity. It can be very volatile.
…
so with the long bias you have right now what triggers a sell of the fidelity funds?
“what triggers a sell of the fidelity funds?” I’m hoping that a (ST) top in bullish sentiment will trigger the decision to sell. (The other trigger would be a massive sell-off that leaves me no choice but to get out of the way.) That’s partly why I was concerned about financials taking off again today> it would have been too far too soon, and I would have had no choice but to sell the FIDSX position (which I think has a long way to go). As it was, I’m content with having taken C off the table. If I had… Read more »
Vinod- You made the right call. FAZ scored the winning TD, and I was able to pick up a few discarded FAS wrappers off the field. And I’d rather be backing the car out of the lot right now than heading for the showers with a torn hamstring.