Market Watch for week of 11/02 - 11/08 2009

[Dr. Dave]

CBAI -
Sad attempt to play a pattern early - but I went in with very little - money management is key, went in with part of a position, when the pattern failed, I slept thru the retest - one reason I don't like these stocks is the limits my brokers put on buying and selling using limit orders. I stuck to my guns, and sold basically where I should have, the retest actually gave me the exact same sell point as the original stop point. Good thing I got stopped out.... waiting on another pattern on that one. Not into averaging down.

[Dr. Dave]

EVFL -

Looks like now is the surely the time to get out, the number of shares traded is shrinking, and you need the 0.0002 spike to get the 0.0001 sell order to go thru... I'll set that one up tonight, took weeks to get the first 1/2 out. Anyway, the buy isn't marked, since it doesn't matter, but like you guys, it was 0.0001

[billhart22]

This will kill you. A few days ago, I posted a link to a person who could sing like a canary. Her name is "Lady Gaga". Well I took it down, because I thought you might think weird things. The video is superb. I confused it with the person that posted it. I didn't have a clue. This person was from Providence, R.I.. O.K., so I started scanning for Lady Gaga........and God what a surprise! This chick is wild! God, I dig it! Try out Lady Gaga on youtube.com. The thing to really check out is her acoustic versions of songs........they are the best!!

[Dr. Dave]

The QASP...

I set the stop a little below the trendline - another bad entry, was looking at same place as bass on that one, then after it hit over 0.03, figured a bounce would come, dead wrong, shoulda stopped out a while ago. I"m thinking this could hit 0.01 again. If you're into averaging down, wait for that.

[Dr. Dave]

Ahh - my friend SIRI - one of the easier TA stocks to play, so far, knock on wood. Seems to be doing fine. This one I'm going to let the EW waves take care of the trade... but my stops will be below the major trendline. Not giving up the gains on this one. Can always buy later right? Anyway, the dog has been very very good to me.

[Dr. Dave]

The SPNG -

Ok, I'm actually not that bullish on this one... first off - volume, there aren't that many playing it - sometimes you have to take price into consideration when looking at volume.

ie. if the price is 1/2 of what it was, then to have the same amount of money being traded, the volume has to be double. Not looking good here, looks like I didn't mark where I cut out the majority of my position, but I'd like to see 0.04 hold... close below, I'll likely cut out completely.

Since the drop, I kind of quit updating this chart. The 3? should maybe be a 12345 down. but so far the EW stuff doesn't seem to hold much for these, never expected it to too much.

[Dr. Dave]

Onto gold - it's going strong....

expecting a little pullback here, but it's looking good, strongest thing out there right now.



first chart is NSU - like a good TA boy, I played a breakout, and sold out on the target, I'm just posting this, as I think that there could be another pullback to the 50 sma, and can easily be played again.

[Dr. Dave]

PMU - this one is for you chuck - everyday or few days, you can score 10% playing 0.27 to 0.29.... looks like the new range is 0.28 and 0.30 - day trader's dream right now.

[Dr. Dave]

GSS -

I've been trying to build a position on this one, as it bounces on moving averages, perhaps selling close to the 3.80 resistance after the last launch up may have been a better idea, but there's a doji above the 50 sma, so looking for a bounce. My stop is pretty tight right now at $3.20.




NXG -
Survived earnings, and is chugging along, it dropped prior to earnings, so knd of negated the flag play, but it seems to be climbing. I get to move my stop to breakeven. Came close to getting stopped out earlier - this is why I don't like automatic stops, I want to see the actual close below my stop level, not an intraday spike. 3 days there were prices below the first stop level, but no closes below the stop level, came freakin' close though. Also came into play was a rule of 3 - three days under the 50 day isn't good, it recovered on day 3. Headfaked a lot of folks that were in it obviously.

[Dr. Dave]

ships -

BDI is rocking - it paused at the resistance level I noted previously, but that was it, just a pause, now it's rocking...



But the index that tracks the actual ships has done a retest and has paused right on the line today... before I said, I didn't like the 4 lower than the last 1, so time will tell. We may have put in an A and B so far... but I'm not really an EW expert.