Thanks, I'm keeping a close eye on this one too!! The cheaper I can get it the better!Quote:
Originally Posted by imromo24
Printable View
Thanks, I'm keeping a close eye on this one too!! The cheaper I can get it the better!Quote:
Originally Posted by imromo24
i hate to get you wrapped up in our work Dr. Dave, but can you look at the spong chart on a 3 year timescale, then monthly...is that a penant that formed and is the the staff like 25 cents long?
or is it like an ascending triangle maybe?
First - most retirement plans let you pick where your money goes.. so if you wanted to go to cash, you usually have the option to have your money put into a money market type fund, or something else that is more stable. For mine there isn't a charge for switching from one type of investment vehicle to another unless I do it frequently - so I could go from say a large cap value fund to a small cap growth fun to a money market, etc. without charges provided the transfers occur outside their fine print on what constitutes moving in and out to fast. All of that would be under the overall plan, so I don't believe taxes would come into play. Now, since I maintain an IRA also on my own and these other accounts, I'm hedging my trading abilities by not messing with the work retirement account. One thing folks don't think about is if you do start your own IRA, you can trade the hell out of it, as you don't have to worry about capital gains tax while you are trading like you do for your regular cash accounts. So some guys recommend trading the hell out of your IRA, and making more stable long term trades in your cash/margin accounts. Though, you can't trade options in your IRA, because of the margin requirement, you can trade the pennies.Quote:
Originally Posted by thetree
I plan on keeping my work retirement account as is instead of trading around, but when it gets within 6 years of retirement, I'll be looking at the overall very large scale of where the market is and then guaging the transfer to money market. So currently, I'm leaving it alone... but using a chart like this:
http://www.scripps.edu/~davess/siri9/NYSE.png
http://www.scripps.edu/~davess/siri9/SPX.png
Note, the cute annotations for each crash I got from a blog from one of the guys I follow.. and also, that bounce on the trendline is why we hammered the long positions in march...
Anyway - seeing the rounding patterns for these charts, and the other major indices, I didn't mess with my retirement account, as I'm still in accumulation phase, but I went nuts convincing my mother to move her money out of all the stock funds... it took me months, but she cut out in august of 2007. So I say XXX years from now when you retire, to look at broad monthly charts and watch for 13/34 EMA crossings on the monthly/weekly charts. You don't have to move everything at once, but just keep an eye on it.
That's my take.
Here's some great information how to read candle charts.
http://stockcharts.com/school/doku.p...o_candlesticks
You mean this:Quote:
Originally Posted by imromo24
http://www.scripps.edu/~davess/siri9/SPNG-weekly.png
I guess you could call it a compressed symmetrical triangle...
I'm more inclined to follow the daily chart though... where we are due for a breakout of this pennant either way (lol - unless it goes sideways - brilliance I tell you... totally hedged).
http://www.scripps.edu/~davess/siri9/SPNG2.png
yes, thanks dave
heres some info on a symmetrical triangle
http://www.leavittbrothers.com/educa...le_bullish.cfmQuote:
Symmetrical Triangles
Bullish symmetrical triangles represent neutral periods of doubt and indecision. They are characterized by a series of higher lows and lower highs as the forces of supply and demand are nearly equal.Each rally is seen as a selling opportunity while each dip is met with buying. The pattern is typically large and takes several months or more than a year to form.
being that the pattern has formed for spng over a few months id say we're looking good, at least ok
I've got three different accts. My work retirement acct is with the Feds, strictly mutual fund type investments, but I'm in the highest risks funds, small caps and international funds. The Feds match up to 7% of my salary, dollar for dollar. I can't trade in and out of funds on it like I can with my other accts, so I only invest the minimum.
Of my two other accts with etrade, one is a Roth ira, which I'm allowed to invest $5k a year in. I can trade in and out with it, but have to adhere to a strict 3 day trading rule on it, otherwise your acct gets restricted by some sec rule! Nice thing about it is I don't have to worry about capital gains until I actually withdraw from it.
And my last acct is a cash/margin acct. Of which I never go on margin anymore. I got burned real bad back when the bubble burst during the dot.com heydays, lost some good money due to not being able to cover my margin calls. Got burned bad on a company called Webvan, it was an on line grocery store business. You order your groceries Online and these cool refrigerated vans would delivery them to your door. They went bk when the money dried up, there was some big money involved with it. Anybody ever heard of them?
Bass - I didn't get stopped out today, I must have set my limit too high, my sell didn't trigger. So I'm still in both puts. I just watched the videos from one of the guys I follow, the maverick, and he is making some good arguments for continuation of the upward trends...
One of the other guys who is big into patterns and elliot waves has 2 cases for the wave count, bull and bear - usually he isn't "hedged", he's on the bear side, but the case stands where you could call one or the other.
Some of the leading growth stocks today made "cases" for bull flags and pennants for the upside.... so we'll see what happens tomorrow, that and a break upward of a descending wedge in futures trading could mean a little more upside. I really really really hope I didn't screw you on this play. In general last I checked my spreadsheet, I'm batting over 65% on winners, and 85% not counting the stupid hold over earnings plays... never do that again. Anyway, any upside tomorrow on either stock, and I'm cashing out of both, and waiting for the market to decide which way its going for future plays, and going with the flow.
I haven't heard of Webvan, but yeah, I don't use margin either, in fact, after switching from one style of trading to another trying to find my niche, I try to keep my accounts 50% in cash at all times, regardless of how hot I think a stock is. My first go at a penny stock killed me, that was years ago, and its still in my ticker list... been waiting for the next pump and dump, hopefully tomorrow, and I'm cutting out half or 100%, so I feel for you bro.Quote:
Originally Posted by Alaska Guy
btw, I am more inclined for stocks like spng, etc. where I can at least see and use the product. behl is ok, since I've become aware of how many guys here on the hill I work on are involved with algae projects that could lead to actual sales... in fact, we are writing a proposal to get into it, and I'm going to ask the boss whether those reactors would be helpful. ASFX looked good to me until that PR. My over "diversification" and job keeping me up too late kept me from selling on the close yesterday. But, I do like the fact its something I understand - the problem with their generating a lot of revenue though, is that other thermometers have plastic tips, which is a money maker... like printer cartridges - you give the printer out next to nothing, then you make your money off of the ink cartridges... I bet the thermometer companies give theirs out for next to nothing to the hospitals. SIRI I like thier product. But again, I don't know many people who actually use it... I can only count me, my buddy I traded the stock with, and my GF's cousin. The other guy who I thought had one, just had a fancy stereo in his car.Quote:
Originally Posted by imromo24
www.americanbulls.com is a good free candlestick site, and I suggest getting a used copy off of amazon of Nison's book, or from the library. Funny, the used copy I got is signed by him. I highly recommend murphy's main book from stockcharts... its in most libraries, and if you like it, sometimes you can find used copies at an ok price.Quote:
Originally Posted by imromo24
I'm all about spending some profits on different educational materials. I also subscribe to a few sites, each one paid for by a good run up.
actually though, just learning what the reversal candles are and matching them up with support and resistance lines is all you really need to know most of the time.
I'm watching a program on Maryland Public Television that if talkimg about how algae is turned into energy and biofuels. Its a NOVA program and it's very interesting, they are showing the photo bioreactors, awesome. Currently they say the only drawback is the end price of about $8 p/gallon, the expense of the biorector.
Here is my video. I made it about 4 or 5 years ago. I had never done this routine before and it was the first cut. I was drinking wine (you can see a glass on the left hand side of the screen) and my voice isn't that high, lol. I just made it up as I went along...kind of on the "Fly". I know the story is dumb, but I just made it up to get a point across to another magician that I was teaching technique to.
Greg check it out...just another facet in my life.
Turn on your speakers.
http://s148.photobucket.com/albums/s...nt=video12.flv
Webvan? You bet! Of course I am smack dab in the middle of silly-con valley so ... There was all kinds of odd ball stuff around here fueled by VC's dumping mass quantites of cash, perky, ridiculously lavished buildings\offices ... The whole dot.com bubble ... Can still hear the echo's of a certain talk radio guy ... it might have been Dobson from Focus On The Family or someone else, he kept warning for months and months that it was going to burst and of course no one would hear anything of it ... Even stranger, this was about the time I was thinking about getting into some type of tech job, went to a job fair right after the bust and it was absolutely chaotic. One of my neighbohrs was a salesman, he watched his options\co. stock go from 200K to worthless in a day, lost his job, the co. shut down ... I was tagging along with him giving out my resume, trying to get my foot in the door, any door and it didn't take long to figure out how futile it all was ... Rabbit trail there.Quote:
Originally Posted by Alaska Guy
Sorry to hear about that AG.
Bill, great vid! Used to do a bit when I was a kid ... speaking of, where is the Stock Magician anyway?
I hope tomorrow isn't as flat as it was today. QASP should be getting on the move here pretty quick. I am also looking for something from EVFL. MGLG will wake up one of these days, right? BCLE zzzzzz zzzzzz zzzzzz, but I will hang with it.
It was pretty boring today...
Thanks....I have been in and out of magic since 1980.Quote:
Originally Posted by Los Tiburones
I haven't seen SM in a while. He is on the road a lot and checks in when he can. He is a good dude. I enjoy his posts. I was just thinking about that tonight myself.
Yeah, he is a good dude ... all you guy's are.Quote:
Originally Posted by billhart22
It was pretty boring today, good for me really, needed to get some things accomplished, heading out to LA and then on to Dallas the next couple of days.
SIRI is really remarkable these days ... wondering just where it might go if it can break that resistance ...
When I was in the corporate world I used to have to fly down to Dallas and then go to Richardson. That was my corporate headquarters. We would go out for lunch and eat Tex-Mex all the time (the CEO, CFO and VP and myself) and I would listen to their crap for an hour and a half and then get back on a plane and fly back to Colorado. What a waste of time and money. We could have accomplished all of our business on a conference call or a video conference. I was the Director of Sales for a wholesale computer corporation. Man am I glad that I am out of that.Quote:
Originally Posted by Los Tiburones
Numbers, numbers, numbers...that is all that they wanted and then wanted more, like I was supposed to go beat my sales manager and he was supposed to go beat up the troops....all of the time. I just don't dig being a "Suit". I love getting muddy and dirty and building things and making peoples' homes beautiful.
I guess what I really love is seeing tangible results from my efforts. When I drive around town, I know every house as I pass it and know what I have done there and get a great degree of satisfaction from it.
There is never a result in sales that means anything except a bigger paycheck and stress. I love to sell though, but I like what I do now better by far. Being a corporate executive is not my cup of tea. Everybody is different. :)
great vid Bill!!!!!! thats some sick magic tricks!!
dave, i was watching the price when 1.83 hit and was wondering if your stop triggered. i didnt sell, i spent around 320 bucks so im gonna hang on to them. the value of the lesson just watching it trade is worth more than the cost of my trade. it also gets me more invovolved in a big board stock and ive never followed one so closely before.
im really confused by the direction of the market. msm's are calling the recession over and i hear about certain indicators and indices that i deem important are having disappointing numbers. but i think the president has a itchy stimulus trigger finger so he may attempt to prop up the economy instantly if there is a downturn. i dont know where we are headed. but after thinking it over, the fed can just print money at will so i guess we may be ok for a while.
Thanks! Great news! It looks like Dave's Options thread is starting to take. If you understand them or want to understand them, then jump in there. Way to go guys! ;)Quote:
Originally Posted by bassmaster