Market Watch for the week 8/3/2009

[Dr. Dave]

Bass I saw your posts in the other thread!!!! Classic - I'd do the same thing!!! LOL

[bassmaster]

dave, i like that IGNT chart. im gonna scan tonight, ill post in the morning whether i decide to take a position in it. i love these breakout plays, theyre very easy, if it goes down to a certain point - just sell , otherwise hold till the breakout and sell at profit target..very simple.

[bassmaster]

Bass I saw your posts in the other thread!!!! Classic - I'd do the same thing!!! LOL

hahahah , thanx

[bassmaster]

dave, i wish i could do the 4, 5 dollar stocks ( shlt my goal is to do the $ 50 dollar stocks, but im gonna need a decent 7 figure bankroll for those).

[billhart22]

-hey tree, dave is a legend in the making. he is the mvp in this forum IMO.

-hey sean, your portfolio is down some, but if youre paying attention and learning from dave , it is all worthwhile. it will make you rich one day.

Dave rocks! I cannot say enough for him and his energy. He is a Superbowler.

[just sirius]

Dave, Bass, and Bill

Keep up the good work! You guys are the best!

Jeff

[just sirius]

Bill

Friend of mine is in the bar business...he's going to save me 6 makers bottles...Betcha 5 bucks you won't even know the difference! Damn...must be the new found gambler in me. too late...bets off!

How far are you from Wolf Creek! 3-400 miles!

[Dr. Dave]

dave, i like that IGNT chart. im gonna scan tonight, ill post in the morning whether i decide to take a position in it. i love these breakout plays, theyre very easy, if it goes down to a certain point - just sell , otherwise hold till the breakout and sell at profit target..very simple.

yeah, I figure if it closes below the line, save your pennies, if it goes above, hang on to your hat if it has the volume. IGNT had a triangle going earlier, but it failed, but I like this bigger one. There's also 50/50 - half in the triangle, half at the end of the day if there is a breakout. The classic measure for how far it will go is draw a vertical line in the middle of the triangle, measure up from the breakout point - but also expect a higher target at the resistance at the top of the triangle. of course, they don't always make it there, and the stats are for big board stocks, and they are getting worse as pattern TA is finally getting a little respect and used. Kind of like how the indicators fizzle out after everyone catches on.

[just sirius]

Superbowler...does that mean he takes large dumps?

[Dr. Dave]

dave, i wish i could do the 4, 5 dollar stocks ( shlt my goal is to do the $ 50 dollar stocks, but im gonna need a decent 7 figure bankroll for those).

lol, I got my start in those at $50-$100 dollar cost averaging every 2 weeks to a month... of course, it depends on whether you start at the beginning of a bull or bear market, lol.

My account was at an all time high when I got that part right - I should have my head examined for not following that strategy after March 9th!