Market Watch for week of 6/29/2009

Here is how to post charts and such:

I use a program called Paint.NET. It is FREE and is paintbrush.exe on steroids. It is very easy to use and works great.

!) Alt PrtScn
2) Open Paint.NET and then Edit, then Paste
3) Then use the rectangle select button in the tools box to the left (It is the upper left icon)
4) Select the information on the image that you want
5)Then select Image on the top menu and choose Crop to selection.
6)Optional: you can re-size the image with Image then choose Resize. If you screw anything up, you can go back with Edit then Undo.
7) Save the image to your computer as a .JPG
8) Upload it to a server (where you have a web page ((maybe your service provider provides a website space for you)) or a site that you can upload pictures to)
9)Then insert the image link in a post here. Use Insert Image button.

Hope this helps.

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Originally Posted by Dr. Dave

The 60 min is the one I follow a little more closely.

The descending triangle ended up being bogus, but again, these patterns have limited success on the "real stocks" and the pattern is meant to be for trading much longer time frames...

But I note the trading range in my new notes in purple that had its birth in the trangle days.. I went long after it broke out (the last lavel at 0.0015) which appears to have been early... but that's the way it goes. I was still expecting the hit at 0.001, but if it didn't hit and the stock took off, I wouldn't be in it. Until the number come out, Im not too worried about it - but what I like most on the chart is the up volume ticks noted by green arrows. I was trading something a while back and saw this and then it shot up 60% in a day - and it wasn't a penny stock. I have some dashed lines there in red and green that signal to me game over or game on.

Note that again, I'm using these more to base stuff for my learning and to establish my buys and sells according to how I trade... but thought I'd pitch in.

I'll have more on the others later - as they are more interesting. On my fancy shmancy expensive software MGLG and BEHL (particularly the latter) currently have a pretty good thumbs up - but its trend software - which doesn't fare as well with these volatile pennies.

Oh yeah - dates in the comments are when I wrote them provided my dyslexia wasn't on for the day - they don't refer to the days that the events came. I have a real problem with dates - I noticed that most of them were for april on one chart and had to correct them.


http://www.scripps.edu/~davess/siri/MGLG-60min.png

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Hey Dave,

That actually is a really decent looking chart. Considering we are just basically buying more shares and waiting for the Production Flow Numbers for the wells before the run-up.

The WM%R looks really good. An overbought position isn't always a bad indicator. As a matter of fact, the longer it can hold that position, the better.

The MACD just turned positive which is a good sign.

The Aroon just crossed in a sharp manner.

All-in-all, for being in a waiting and buying mode all is looking very good! :)

Quote:

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Originally Posted by Dr. Dave

Hi again -

I washed my truck the other day, and decided to be all cool and put some tire slicker on - so while I'm waiting for it to dry...

Here's my main simple BCLE chart - the pattern I see is a reverse symmetrical triangle. I found a free definition here:
http://thepatternsite.com/EWRevSymmetrical.html

On the chart I noted a few things:
1) I drew in the elliot waves according (we'll at least my interpretation of the elliot waves) to the definition - note you can have waves within waves so going from B to the first "1" there is also a 5 sub impulse wave on the way up, as well as a mini 1-2-3 within that. Now, I'm not big into elliot waves, but if you were to look at a handful of indexes - I'll post one below - you can see they do have a 1,2,3,4,5 up and an ABC down in the works. I know its just tea leaves - but sometimes I think they are self fullfilling if they guys using TA are in the mix.

2) the last upper peaks were on numbers without the trailing decimals - 0.15, 0.16, 0.17 - if the pattern plays out, the peak should be at 0.20 or so... but again - hocus pocus. Just be aware of when the price hits actual pennies, could be a sharp down turn right after. ie. the ride I had in SIRI to cut out at 0.62 in april was fast - once it hit 0.60 - it was pop up, then pop down, no second chances were given. So if you are new, and you have a trading plan, and there's a target you are looking at - pull the trigger - or at least set a trailing stop once your criteria is met and step away.

3) the moves are about 2 months apart - placing I believe the timing of a next move up at about the time the audit is done.

4) The last 1,2,3 is clustered at the bottom - so in elliot wave speak, we have to maybe put in a 3 - of course, anything could happen - but another touch of the bottom line would be coming - an upturn from that though would give me more faith - a pierce and I would call it game over.

5) There is little bit of hitting the fib lines - so for myself - I could take a little off the table if it hits near that 0.075 or so level - the 38.2% retractment.

Anyway - here's the chart - and of course, it would be great if it would play out - but with the pennies, or rather any stock - anything can happen - but these things do show up from time to time, so why not.

If we have to go lower and hit a line though, I'd rather it be the other line just about at 0.02

http://www.scripps.edu/~davess/siri/BCLE-daily.jpg

I guess the "D" should be scooted over, but who knows - that could be the low.... we'll see

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I have to agree with you on the projection. I believe that you drew that in there just right. As soon as the audit is over and a PR comes out then it should look just like that. Very nice chart!! ;)

http://www.chartgame.com/

here is a fun little game where you can see how well you would have done investing

Quote:

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Originally Posted by stang3O2

http://www.chartgame.com/

here is a fun little game where you can see how well you would have done investing

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Hey Matt, that is a really good little training tool for using the RSI, MACD, and the other indicators available there. Nice find! It is a great practice tool for entry level T/A people. It is also fun!

It is actually good practice for during the day also if you get quick at it! Examing charts daily on a 6 month is essential, so there is a lot in that little game.

Good find!

It is pouring rain here in the Denver area...at least in Parker. The rain is so patchy out here. All areas are different. Oh well...I didn't have any big plans anyway. I hope that all of you are having a nice sunny day! :)

Visiting my grandmother here in Summersville, WV. We just got caught in a downpour on hole 7, but finished anyway! Gonna go play some yahtzee. See "y'all" on monday.....

Quote:

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Originally Posted by billhart22

That is awesome! Sunset Blvd is a mosh pit, lol. I realize this may really date me, but is the Whiskey A Go Go still there? I would love to see Hank III. I live in Colorado now, so I doubt if I will be there anytime soon, but in earlier years I spent a lot of time in California. I actually lived there 16 years of my life and have been there many times after that for short stints.

The last Mosh Pit I was in was at an AC/DC concert in Tacoma, Washington. I almost passed out from lack of oxygen and heat.

I suppose I should get back to looking at your charts here pretty quick. I am in the lazy mode today. :rolleyes:

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I don't know if the Whiskey is still there - we had a decent handful of beers before the show at my friend's place - which is basically just on the other side of the 405 along sunset, and we took a cab. We were too busy being idiots for me to pay enough attention. I live in San Diego so I don't get up that way too much. An AC/DC show must be awesome. I went to see RaTT at the indian casino here the other day. Some guys in the crowd (who were all my age) were wearing their ancient concert T-shirts. The band played some "new songs" - and folks were just standing around, then the lead singer said - "I know, I know - let's take it back to 1984" and the crowd went nuts.

Quote:

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Originally Posted by stang3O2

http://www.chartgame.com/

here is a fun little game where you can see how well you would have done investing

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Ok Stang - I just clicked the link and read it. This could be a scary addictive game for me (not that I'm not currently psychotic about charts). Interesting is that they choose large cap SP stocks - those I think don't move trend and form patterns as much, but I think I'll be hooked here. If you folks don't hear from me in the next week - someone hire a hacker and shut me down.

Gang--

I'm glad you enjoyed the pictures of what (some) of my BEHL profits were able to do. I am a firm believer that money is simply a tool to be used during the course of one's life.

"Never meant to last. Never meant to last." -- Jimmy Buffett

My kids are well-fed, everything's paid for. Why not take *some* of the gains and provide a life-changing experience for 5 people? Exactly! I did just that.

The Waco biplane rides were just perfect, and everybody that flew has been constantly talking about their flight the last 24 hours.

Perrrrrfection.

I enjoyed seeing you guys (Bill, 'Stang) pictures of your toys. I have some 4 wheeled (and musical) toys of my own that I will share with you all, one day.

But for now...I'd rather you see the flying machines and the great experiences that others were able to enjoy in them via our good fortune trading these penny stocks.

That's living life as it is meant to be lived, IMHO.

Quote:

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Originally Posted by Dr. Dave

Ok Stang - I just clicked the link and read it. This could be a scary addictive game for me (not that I'm not currently psychotic about charts). Interesting is that they choose large cap SP stocks - those I think don't move trend and form patterns as much, but I think I'll be hooked here. If you folks don't hear from me in the next week - someone hire a hacker and shut me down.

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I was having a ball with that game. I was just clicking the days one after another and making snap decisions. If a guy took each day as serious business and did T/A to some degree on the charts before moving to the next day, he would get a hell of a lot of practice. The site is really awesome, because you have some competition - the buy and hold factor.

I ran through 2 sessions of it, but I have a mouse that double-clicks really fast and I didn't catch it on one move and I went down 27% in a flash. I have to go get a new mouse tomorrow, this thing is driving me ape-shit!

It's fun...good find Matt! ;)

Herd

I've flown in a plane very similar to that one. Being in the open air, looking out over the countryside is an awesome rush. When I was a kid, my dad and a couple of flight engineer buddies had an old cessna. They got a great thrill scaring the shit out of the kids by stalling that SOB and telling us that we ran out of gas. Pissed my pants acouple of times...told'um spilt my soda.hahahaha

Bill, Dr D, stang, and the rest of the gang

It is Independence Day...no more charts...you guys are killing me!

I hope everyone had a fantastic day.

jeff

Dave and all - I dug Ratt! I was big into hair music. Of course I was into Elvis Presley also in 1957 (Damn I am old)...I have followed rock from its roots. I have seen Bill Haley and the Comets, Bo-Diddly, Chuck Berry, The Shirelles, The Dovels, Jan and Dean, The Kinks, The Righteous Brothers ----moving forward.....Jethro Tull, Mountain, Eric Clapton, Wishbone Ash, Johnny Winters, Chicago Transit Authority, The Who, Grand Funk, Eric Burdon and the Animals, Black Sabbath...you name it, I have probably seen them.

In the hair days I didn't go to concerts much...but I loved the music. "Back in Black" is one of my favorite albums.

The one guitar hanging on the wall in one of the pictures that I posted was an extreme lead guitar players guitar. It is a 1985 Hamer Custom Standard. It is hand made and so is the red one in the picture. The Tangerine Custom Standard is the same guitar that Rick Neilsen of Cheap Trick plays. Tons of big lead guitar players played that same guitar in the 80's in hair bands.

I love great leads and the "Hair Days" had them. Nobody can play them anymore unless they are old and gray.

One of my favorite hair bands was "Vixen"...a chick band. Damn they were great! If you want to hear what a Hamer sounds like and what a great band is then go here: (Turn the speakers up!)

http://www.youtube.com/watch?v=y9aR2jKiFQs

If you want to hear what my Tangerine guitar sounds like go here: (In the video it is the lead guitar and the white one):

http://www.youtube.com/watch?v=rB8HudfbaTE

If you don't care, that is your privilege...:)

http://www.coloradohandyman.com/hamers.jpg

Quote:

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Originally Posted by just sirius

Herd

I've flown in a plane very similar to that one. Being in the open air, looking out over the countryside is an awesome rush. When I was a kid, my dad and a couple of flight engineer buddies had an old cessna. They got a great thrill scaring the shit out of the kids by stalling that SOB and telling us that we ran out of gas. Pissed my pants acouple of times...told'um spilt my soda.hahahaha

Bill, Dr D, stang, and the rest of the gang

It is Independence Day...no more charts...you guys are killing me!

I hope everyone had a fantastic day.

jeff

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Hey Jeff -

No fireworks here..a few fire-crackers because it is raining...There is always something constructive to do....

Good advice, that is why I am going off on a tangent..

I hope that you had a great 4th!

Bill

This kicks a strat in the ass! Takes no prisoners! It is lethal. Circa 1980+ +http://www.coloradohandyman.com/daytona.jpg I love older mint condition guitars, but I play them, I don't baby them. This one was set up by the guy that does the guitars for Green Day and AC/DC, Tom Petty and the such.........blah blah blah...

I always liked those explorer body guitars and that tangerine looks great on it

This game is awesome!

After getting ahead, I got a little cocky and my 13th trade brought me right back down. Since I was watching the "the pots come in" on the Deadliest Catch marathon, I took a "Rashke" approach and just used the lines... and it's paying off. I love this game way more than any paper simulator. And I'm finding keeping it simple is the way to go... so far. This is a great tool for any of you interested in adding TA into your bag of tricks, as well as money management (we'll not money management in the sense of how much to allocate with each trade) - but on why to cut out when things aren't going your way. Of course with the pennies, its a different ball game, because you have to incorporate the fact that you can easily be wiped down 30, 50, 70% in a matter of a day or two... which is why money management is so key to staying in the game. I'm going to try to keep my laptop on, see if I can make a million on the game I got going now. Great tool. When I get get a big down day, it feels like the real thing!

The crazy thing too is that its all EOD trading - so when I get a reversal candle - I can't (oh yeah, I'm using candles too - can't help that) just cut out - I have to take the hit the following day. Also, you can't buy into a breakout, you have to go in as if you found out after your buddy says - did you here SIRI just got Jackie Mason about 10 pm in a bar (that's a joke by the way).

Thanks Stang... for both the educational game, cause I'm really learning things, and also curses for adding in this new addiction! haha!

Wow - its almost 5 am, my arm and hand are sore from this game, but I hit the $30K mark finally - I was so close hours and hours ago, but got cut pretty bad and had to rebuild. I also reassured myself as to why I don't buy and hold anymore. Here's a funny one - they gave me Ford during the crash - you don't get the info while you are playing - but I kept thinking - this has got to be 2000 or 2008 - and this stock is tanking! Ok - gonna call it a NITE. At least I got out of the house for a bit. I can see I should never play this again.

Hope everyone had a great 4th of july.

When I was in 9th grade - so now you folks will see how old I am - I decided to go to the high school to be on their wrestling team (our jr. high was 7-9, and high school was 10-12). When I did, I got to go to a high school pep thing in the gym. The pom pom girls came out and did their routine to what they tooted as the school's official song - yep - Back in Black

It was awesome.