Dave Bass Bill ????
I need you guys in the contest. I need a PM by Friday with your closing price for 2009 on Dec 31. Please confirm thanks. It's just meant to be fun. Thanks.
Dave Bass Bill ????
I need you guys in the contest. I need a PM by Friday with your closing price for 2009 on Dec 31. Please confirm thanks. It's just meant to be fun. Thanks.
I'll give you one nearer to the deadline - the stock is on the line - so I'd like to see which way it's headed first, up or down. Then work it from there. It's all a guess without patterns and such... even with them, nailing a day is very hard unless it's something with 3 days out and a resistance line to play with, then the probabilities get better.
Gold at 1202.90
Gold is parabolic - but the stocks are steady climbers. Looking ok. Lol, I wish I had the coin to have played futures on this stuff.
Ships looking ok too - the BDI pulled back after hitting upper target, but it shot up so high, that even with a pullback, it should move the boats higher. Tomorrow will confirm. I went with DSX, good fundamentals, and a nice point on pullback.
There's a triangle there, but assigning a price to a date for something that's so drawn out like that guy is tough. A month out is a challenge, I want to look at weekly, see if there is something... I need to get some software that allows you to choose odd time frames.
Also, just to note, the price is towards the end of the triangle - usually if you have a triangle with good hits on the top and bottom - multiple times - and a breakout about 2/3 to 3/4 of the way thru, the price projections work better... a recent example off the top of my head is the ship GNK... hang on, I'll look at it real quick...
ok, there was a little extra oomph on jun 1 for GNk, but start the triangle almost to the end of the second week of june. also, before the breakout, look how the price was building up all that energy. That was a good one.
I'm was almost tempted to sell all my gold plays to get into ships today. Today looked like the rebounds to the breakouts. Gold has been running, so now it's time to look for new sleepers, the ships could be it. I got in on DSX, but would like to pick up a few others, but my money, or most of it, is in gold stocks.
I guess I could use another account, but like to keep at least 50% of my accounts in cash for money management purposes. I'm actually past that. In fact, I thought of dumping SIRI out of my IRA today for some of those guys. But I think today was the day to get in.
I need to hit the hay, but I'll try to show you some entries that different pros use for these things, I guess they are likely obvious, but each has their virtues.