Interesting Charts for Technical Trades

[Dinerotrader 10]

Dinero, do you ever look at the sector charts of the stock your looking at ??

If yes could you post a chart of BGH sector chart.

By the way if and when I hear myself mumbling something like I dont want to short here because I cant tell if the momentum has run out yet, I will usually listen to that because its a red flag. simply my intution/subconscious is telling me to becareful. Normaly I will let that trade pass until Im more clear about the trade.

Looking at other instruments that are related to the stock im looking to trade can sometimes give me more clarity....this is why I asked if you ever look at the sector chart as a whole to get a feel for all the stock in that sector.

 

I do not look at sector charts. I used to look at those types of things more but most of my time is spent dealing with futures trading right now so I am trying to see if I can trade stocks successfully using a relatively simple method that does not take very much time. There are quite a lot of stocks out there with charts that don't technically look good to trade but as I have started posting to this thread I have found more than I expected that look appealing.

 

If I add much more complexity to my method I will lose the "simple/efficient" aspect of stock trading that I am trying to apply. If I cannot trade stocks profitably with a simple method, I'll scap the idea and just go with futures.

 

I agree about BGH. I am trying to look at these charts with probabilities and risk at the forefront of my analysis. I want great R:R at entry and I want an entry setup that puts the probabilities on my side. If I can get those 2 pieces together, I can just let the trade ride and adjust according to future PA.

[Dinerotrader 10]

STL

 

The down trend got a little break after a bounce of support so I am looking for a breakout at the green line.

 

[thalestrader 14]

AIXG

 

AIXG stumbled today and would have stopped me out at the opening tick. I still like this chart, and if AIXG recovers, I'd buy in with a 32.80 buy stop. Again, this is a paper trade.

 

Best Wishes,

 

Thales

Edited December 28, 2009 by thalestrader

[Dinerotrader 10]

ELY

(Callaway Golf Inc)

 

Aren't the baby boomers all supposed to start retiring in hords soon. I'd think Callaway might profit from all this. Pretty strong S/R level at ~9.30. I'd like to see a breakout above that level and then I am in.

 

[Dinerotrader 10]

AIXG

AIXG stumbled today and would have stopped me out at the opening tick. I still like this chart, and if AIXG recovers, I'd buy in with a 32.80 buy stop. Again, this is a paper trade.

Thales

 

I am liking this more with a possible bounce off the trend line as well as that short term support level.

 

[Dinerotrader 10]

LAD

 

Couple charts on this one. The weekly charts shows a major downtrend. The daily chart is showing some tight action around and might be reversing trend. This is what I would call a Thales reversal breakout, if the breakout occurs. Not that he would want that name for it but he is the one that taught me about playing reversal breakouts on his thread.

 

The overall down trend concerns me on the daily chart but I can see the auto industry getting some legs in 2010.

 

[Dinerotrader 10]

ARP

 

I posted this one earlier in the thread and bought it with real money. I am up 17% right now and price is at resistence. Do I take my profits and maybe play a breakout in order to keep with the uptrend or do I just hold on and maybe move my stop up to $6.80. I haven't decided yet what to do.

 

[thalestrader 14]

AIXG

 

Still a peper trade, but long at a theoretical 32.86, stop loss 31.25

 

Best Wishes,

 

Thales

[Dinerotrader 10]

LYV

 

Looking for good breakout movement.

 

[Dinerotrader 10]

CCRN

 

It is always interesting to see a level on a daily chart and then go to the weekly chart and see that level get reactions back in 2003. Play breakout at green line.

 

[Dinerotrader 10]

BWS

 

Interesting trendline and support combination. Probably won't trade it because I can tell I'd have to work at deciding where to place my stop and I need these stock trades to just jump out at me. This was interesting enough to post.

 

[Dinerotrader 10]

VLCM

 

Some good movement off support and I like the company fundamentally. I'll probably put some money on this one tomorrow.

 

I bought some LAD today which I posted a chart for a few posts back.

 

[thalestrader 14]

ASEI

 

I looked at this last week and thought, "well here is one to kep an eye on for the New Year."

Little did I know it would tack on better than 8 points this week.

 

I have attached a weekly chart, which shows that ASEI has held up very well during the brutal bear of 2007-2009(?), essentially trading at the high end of a multi year range.

 

I'd be looking for it to take some rest, and buy a few on a pullback. I certainly will be a buyer if it trades to new all time highs.

 

Best Wishes,

 

Thales

Edited December 30, 2009 by thalestrader

[thalestrader 14]

ID

 

This is a stock that came up last night in a screen I run in Telechart every day (nothing fancy - I look for stocks with daily range expansions), and it was also mentioned by one of the Worden's in their notes sections.

 

Weekly and Daily view shown here.

 

Best Wishes,

 

Thales

[Dinerotrader 10]

TKTM

 

Not a lot of volume on this one but I like the setup for a breakout.

 

[Dinerotrader 10]

PLFE

 

I'm a little late to get in this one. Look at that great setup a few days back where the trendline matched just at the horizontal support level. I am getting more and more confident in that setup as a way to get a nice bounce with a tight stop. If it works with enough consistency, I'll just make larger bets when I find that setup but keep the stop tight so I can cut failures. I'll have to start looking for similar setups that failed.

 

[Dinerotrader 10]

VLCM

 

Some good movement off support and I like the company fundamentally. I'll probably put some money on this one tomorrow.

 

I bought some LAD today which I posted a chart for a few posts back.

 

I am liking VLCM more and more as I look at its reactions to that support level and the hammer it made yesterday that just touched the trendline and bounced. I'm glad I put some money on this one.

 

[Dinerotrader 10]

KEI

 

Might be a good beginning of an uptrend.

 

[Dinerotrader 10]

GRB

 

Lots of normal volatility until 2 months ago and then price just got stuck in this channel.

 

[Dinerotrader 10]

ARB

 

Reasonable setup for a breakout above resistence.

 

[Dinerotrader 10]

AIRM

 

This has been hitting resistence for 3 months at the same level. You'd think a breakout would mean the bulls would finally have control. We'll see what happens if it breaks out.

 

[Dinerotrader 10]

CNX

 

Another potencial breakout play. I like good reversal setups more but right now I just keep finding breakouts.

 

[Dinerotrader 10]

ARB

 

Reasonable setup for a breakout above resistence.

 

Broke out of R and trendline today and came back quickly on super low volume. I don't use volume very much but when volume comes in once resistence is broken and then price falls back down on much lower volume that seems to me a good sign that you will see some more upward movement. See charts below. I bought some a few minutes ago.

[thalestrader 14]

AIXG

 

This was an end of year paper trade. So this is a paper update. Nothing has changed other than that the stock has moved up $3.59 from the buy point. I'd still hold this with the initial stop of $31.25. I'd wait for price to test its highs at 38.34, and then decide whether to adjust the stop, buy more on a break up, or take profits and wait.

 

Best Wishes,

 

Thales

[thalestrader 14]

SRLS

 

If this thing weren't basically a LEAP with no expiration other than bankruptcy, I'd have cut this thing loose today if this were a live trade. As it is a paper trade, I'll hold it for its inital stop loss or a trip to its recent highs at $4.20, and if it breaks abve there, I'd hold for a trip to $5.20. Sure seems like a tough way to make a measley 60 - 140 pennies/share. You know what? I'll close this tomorrow on paper. I will call it a sell limit at $3.84 or market on close if price doesn't get there. Of course, having said this, tomorrow will be the day this thing either opens below my stop or gaps open 20 pennies higher, limits me out, and doubles.

 

Best Wishes,

 

Thales