Market Watch for 1/4/ 2010 thru 1/17/2010

[bassmaster]

dr dave, looks like DRYS is in a nice wedge pattern, thirsty to break out.
i know we've been through this before, and i refer to my books, but in your opinion whats the best way to get a target on a bullish breakout on any wedge pattern?

[candleman]

QASP is back down below .019 this morning.

The roller coaster continues with this one. It's a great trading stock. The question is where is the bottom this time?

[GoHerdGreg]

Hey, gang--

I am getting out of BEHL this week, gunning for an exit with about a 40% profit. I will then take that money and begin trading 1-2x per month. (I don't have a margin account, so I will need to hold a week or two.)

I'd like to get in to 1-2 stocks per month, and get out with something. The way I see it, a lot of smaller "somethings" is more likely than one big "something".

Should be an interesting process, regardless.

[candleman]

Hey, gang--

I am getting out of BEHL this week, gunning for an exit with about a 40% profit. I will then take that money and begin trading 1-2x per month. (I don't have a margin account, so I will need to hold a week or two.)

I'd like to get in to 1-2 stocks per month, and get out with something. The way I see it, a lot of smaller "somethings" is more likely than one big "something".

Should be an interesting process, regardless.

Good Morning Greg,

I'm just curious about BEHL. Are you getting out because you think we may have topped out the share price for right now? And if so, why?

Thanks,
Chuick

[Alaska Guy]

hey Buddy thanks...the ocnf dillution really hurt it this year..its a big gap to fill...we may see this a little longer..I thought I was rich again this A.M in behl
and came up a little short...I sure hate spending that money before its mine....!!

Ditto, everything is in the red for me today, I would have loved to buy some OCNF today .

[Alaska Guy]

Hey, gang--

I am getting out of BEHL this week, gunning for an exit with about a 40% profit. I will then take that money and begin trading 1-2x per month. (I don't have a margin account, so I will need to hold a week or two.)

I'd like to get in to 1-2 stocks per month, and get out with something. The way I see it, a lot of smaller "somethings" is more likely than one big "something".

Should be an interesting process, regardless.

I may need to rethink my strategy as well. Maybe keep a core position in everything I have and play with the rest. Its a new trading year, why not? I really can't day trade though. So I will need to think about this. A news years resolution of mine us to get educated a bit more, can anyone point me in the right direction...I need a easy to read book on playing the market? Maybe Ill hit the local bookstore today.

[Dr. Dave]

Man, that one is a toughy, I hate it when they reverse like that. I woulda gone in EOD on a full white on that guy.

For that one, I'd say, if the open is within the upper wick, and it moves to take out the high, then go in.

The other play is to watch the 5 min and see if you can catch $1.01 or $1.00 if it looks like it's turning down in the morning.

I'm maxed out on trades at the moment, but I thought COIN was looking pretty good, and could still be good breaking the even $1. Pretty clear $0.76- 0.77, or rather, under $0.80 was the real good buy area.

Still needing to get you some tickers - I got stuck doing some time sensitive stuff for the boss.

COIN broke $1, and is up like 28%... missed it since I was all in. Anyone else try?

[Dr. Dave]

dr dave, looks like DRYS is in a nice wedge pattern, thirsty to break out.
i know we've been through this before, and i refer to my books, but in your opinion whats the best way to get a target on a bullish breakout on any wedge pattern?

Pick one the first bounce within the actual wedge - draw to other end of wedge. Other way, is to maybe go 1/3 in the wedge, measure from there. I'll check what the others say after market close. Maybe look at bulkowski's site, he's the king.

[Dr. Dave]

Shots - I'm out ANX, just taking the profit, may come back later

[bassmaster]

im out of ENCO, bought at .31 sold at .35.. i got scared of the big reverse from the HOD

bulkowski wedge breakout target = for bullish breakout, ((high - low of wedge) x 70%) + breakout price. for bearish breakout , ((high - low) x 30%) - breakout price.