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Thread: February 2013 - Year of the Groundhog

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  1. #1
    Limit5Bass is offline
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    February 2013 - Year of the Groundhog

    Looks like DECK bounced after it's breakout and pullback from the symmetrical triangle. Here is my chart from last week and one from today.....

    DECK 2013-01-31.jpg


    DECK 2013-02-04.jpg

  2. #2
    Limit5Bass is offline
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    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....

    KORS 2013-02-05.jpg

  3. #3
    sparky is offline
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    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?

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    Limit5Bass is offline
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    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

    Quote Originally Posted by sparky View Post
    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?

  5. #5
    Limit5Bass is offline
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    And while I'm in a good mood, I'll toss one more into the fire...
    watch to see if GLW breaks out and closes above the upper trend line...if so, a nice bounce could be coming

    GLW 2013-02-06.jpg

  6. #6
    Limit5Bass is offline
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    A DECK update....chart looks good...trying to break out above prior resistance around the $43 area now

    EDIT: Not a bad looking white candle for today so far considering the overall market is down today

    DECK 2013-02-07.jpg

  7. #7
    mcoulter is offline
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    LIMIT check out the chart for LPHI moving after long consolidation

  8. #8
    Limit5Bass is offline
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    on average, there are not enough shares traded for me....i don't like thinly traded stocks

    EDIT: But it is moving up on higher than normal volume for this stock, and that is always a good sign.
    Quote Originally Posted by mcoulter View Post
    LIMIT check out the chart for LPHI moving after long consolidation
    Last edited by Limit5Bass; 02-07-2013 at 06:17 PM.

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    mcoulter is offline
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    Quote Originally Posted by Limit5Bass View Post
    on average, there are not enough shares traded for me....i don't like thinly traded stocks

    EDIT: But it is moving up on higher than normal volume for this stock, and that is always a good sign.
    took out one of the highs (3.27) $4 could be next stop

  10. #10
    Limit5Bass is offline
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    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.

    KORS 2013-02-14.jpg


    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

    DECK 2013-02-14.jpg


    And last but not least, for now, is a GLW updatte - again, see my notes on the chart - enjoy!!

    GLW 2013-02-14.jpg

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