Okay, let's look at another potential trade setting up right now.....Michael Kors (KORS).....it has a nice cup and handle formation and yesterday formed a nice support candle on heavy volume - looks to have found a bottom in the handle. A breakout on heavy buying volume above $60....i look for 15-25% gains from cups with handles, assuming the overall market is also cooperating....
Bass, You need to take a bow, you are the man. I just looked at KORS and saw it broke out today on earnings, but you predicted it from the charts a week ago. Where do you see it topping? Too late to get in? Too bad I was only watching and not buying. GLW is moving higher but not on high volume, are you still a buyer on a low volume breakout?
I am looking to get in under $61 on KORS
short-term, i would be seller in the near future (prob this week) for GLW, but I do not own shares of GLW. My funds were tied up but I didn't want some others to miss out on a relatively safe 10% gain
EDIT: unless the volume buying picks up in GLW...then possibly the upper end of my target zone could be acheivable
LIMIT check out the chart for LPHI moving after long consolidation
Last edited by Limit5Bass; 02-07-2013 at 05:17 PM.
Today is the day to get in on KORS, under $62. It isn't going below $61 as I hoped. See my note on the chart.
DECK update - look at this breakout....after a quick pullback yesterday and this morning, I think it's ready to start again towards my short term target of $50
And last but not least, for now, is a GLW updatte - again, see my notes on the chart - enjoy!!