posted Oct 25, 2004 at 10:35PM
Originally this site was just a place for me to store some annonated charts that I could share with a few fellow traders. Not just indexes but individual stocks as well. Lately I have held off on "stock picks". One is the way I have been trading this year is that by the time anyone read a reccommnedation (i.e. stock pump) it is a good bet that I would be the one selling you the stock
Let's face it whenever anyone recommends a stock you can bet your patootie that he already owns it.
The other reason is not so "honorable"...Again given the way I trade, I hardly want to have to jostle and compete to get my shares with the very people who may be reading this.
Anyways since I am in cash...what the hell..
I was away from home on the first divergence, asleep at the switch for the second. I nailed the third. Stochastics divergence, market depth meshed nicely with the fact that my ewa count showed the HUI commncing a wave 3.
Right now it seems to be charting out a bullish pennant. Stock has good liquidity and good story behind it. It should do very well if gold starts melting up.
An agressive trader would have bought on the stochastics bottoming...the other approach is to buy on a break-out with stop place at recent lows or slightly below.
A stock I had been tracking for months until I pulled the trigger and held for a few days. The reason for entry was not so much on the basis of the daily chart...but the weekly chart below.
Again bullish divergences on weekly stochastics is a favourite (but not only)criter of mine.
Moving up to the daily we can see that it seems to be in a consolidating triangle....a wave 2 EWA wise. Again a case of buying a break-out...with a tight stop for protection.
Just one I am watching right now.
Again the trigger to buy was the oversold weekly chart with diverging technicals.
As I said I have a bottom picking contrariarian style. I go from weekly stochastics to daily, to due diligence, to market depth to a check of what the sector is doing.
It is very good for getting good entry points.
It can get you nice gains with minimum exposure to the markets
Unfortuntately to date I have not yet mastered the art of selling and because of that I have missed out on a lot of big runs because of my tendency to sell too soon.
The hesitancy to buy break-outs also increasing difficulty of getting back in on trend.
It is stuff I am working on.