LONGDUCKDONG Thursday - 02.07.2013

[radejs]

Cannabis stocks are becoming active again. This is going to get very interesting.

I went in pretty big, very happy (for now) keep on thinking sell, but fear another huge run to miss out on, will hold for now, but tempting to take 30-50% gain in a day off the table and never look back ( but I ALWAYS look back, like when SIRI was .11 cents and I thought hard about maxing out the Home Equity line and ran it by the wife {what was I thinking, running it by her that is}, did not do it and of course, would have been millions but, hind site is 20-20. Still did pretty darn good but still got to work for most of my living)

[siriusly_invested]

Bassman if you are still watching here, can you verify something for me please? In the attached chart of SBUX it appears to me that a Double Top is forming, lacking only a regression below that tilted line I've drawn? I was thinking it would take a bounce off of the lower trend line before completing the DT pattern, but with the low and deminishing volume that now seems doubtful....and if it breaks that tilted line, then we would expect to see further erosion in the stock price. Is that the way you read it?

I made a quick $3 the last trip off of the lower trend line up to the upper. Looking to accumulate back in if possible, but having doubts as I see what I view as a possible DT forming. Just curious if that is how you see it.

[Limit5Bass]

this is the 3rd time SBUX appears to have popped and then closed the gap before popping again. i would have to see a larger overall chart though to see if this is something of a larger degree......stikky stock charts says we bounce from the lower line

Bassman if you are still watching here, can you verify something for me please? In the attached chart of SBUX it appears to me that a Double Top is forming, lacking only a regression below that tilted line I've drawn? I was thinking it would take a bounce off of the lower trend line before completing the DT pattern, but with the low and deminishing volume that now seems doubtful....and if it breaks that tilted line, then we would expect to see further erosion in the stock price. Is that the way you read it?

I made a quick $3 the last trip off of the lower trend line up to the upper. Looking to accumulate back in if possible, but having doubts as I see what I view as a possible DT forming. Just curious if that is how you see it.

[Limit5Bass]

FYI - I have a few other charts I posted in the February market watch section in case anyone is interested

[denco1]

FYI - I have a few other charts I posted in the February market watch section in case anyone is interested

Thanks BassMan....nice charts. Loving the DECK breakout!!

EDIT: Seems to be banging up against the upper BB and the 200. A break through that resistance would be real nice!

[Limit5Bass]

SI

I took a look at SBUX from a different perspective - I found a breakout from a triangle pattern. It is currently holding in the gap-up area, which is usually an area of support. A close below the gap-up area would be a sign of weakness. The entire purple channel is considered the gap-up area, so it would close below the entire purple channel.

SBUX 2013-02-07.jpg

Bassman if you are still watching here, can you verify something for me please? In the attached chart of SBUX it appears to me that a Double Top is forming, lacking only a regression below that tilted line I've drawn? I was thinking it would take a bounce off of the lower trend line before completing the DT pattern, but with the low and deminishing volume that now seems doubtful....and if it breaks that tilted line, then we would expect to see further erosion in the stock price. Is that the way you read it?

I made a quick $3 the last trip off of the lower trend line up to the upper. Looking to accumulate back in if possible, but having doubts as I see what I view as a possible DT forming. Just curious if that is how you see it.

[Limit5Bass]

DECK is kicking ass today, up 1.70 on nice volume in a down market...

EDIT: They appear to be using the overall market weakness to help get their shares today

EDIT 2: Can the BassMan get a $44 close today?! - update uhhh that would be a no

Thanks BassMan....nice charts. Loving the DECK breakout!!

EDIT: Seems to be banging up against the upper BB and the 200. A break through that resistance would be real nice!

[denco1]

DECK is kicking ass today, up 1.70 on nice volume in a down market...

EDIT: They appear to be using the overall market weakness to help get their shares today

It's - EDIT - breaking BIG Bass. Took out the resitance above. Now if it closes above the 200...it could REALLY be on.

[midas360]

Excellent analysis, Bassman! Great work!

DECK is kicking ass today, up 1.70 on nice volume in a down market...

EDIT: They appear to be using the overall market weakness to help get their shares today

[radejs]

SIRI seems to always find support, trying to close out at least even well off its low of 3.10.

Denco was right, headfake!