Market Watch for week of 6/29/2009

[billhart22]

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.

[billhart22]

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.

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!

[billhart22]

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



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

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!!

[stang3O2]

http://www.chartgame.com/

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

[billhart22]

http://www.chartgame.com/

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

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!

[billhart22]

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!

[thetree]

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.....

[Dr. Dave]

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.

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.

[Dr. Dave]

http://www.chartgame.com/

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

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.

[GoHerdGreg]

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.