Your latest trade based on T/A

[CanOz]

Here is one of my latest trades which I entered today at $11.38. the chart is as of yesterday's close.

One importatn factor is the director's buying level in the background. Over $40 million worth. For the link see my blog.

Love those volume bubbles Snake...do you use Amibroker to find them?

Cheers,

 

[It's Snake Pliskin]

Love those volume bubbles Snake...do you use Amibroker to find them?

Cheers,

Hi,

No I just eyeball the charts and look into them a bit. In this case there is some available info on the director buying big.

Actually I am still trading the hard way by manually going through charts one at a time and looking at them.

Snake

 

[CanOz]

Hi,

No I just eyeball the charts and look into them a bit. In this case there is some available info on the director buying big.

Actually I am still trading the hard way by manually going through charts one at a time and looking at them.

Snake

One day when i have some time i want to write an exploration to look for volume bubbles...particularly useful during corrective phases.

Cheers,

 

[It's Snake Pliskin]

One day when i have some time i want to write an exploration to look for volume bubbles...particularly useful during corrective phases.

Cheers,

Not a bad idea Can! I am hopeless with computers so it is definately beyond me. It helps to have a list of stocks that may be moving into such positions.

 

[BentRod]

Guys,
If your using AB it couldn't get any easier.

Look for a plugin called "powerscan", very easy to use,volume and all sorts of other scans are very simple.

@snake... I'm also long TPI (from $10.46) after that first rise in volume.
Not really happy with the trade so far as it's not getting on with it .... I'm @ breakeven.
We have that gap @ $12.30, thats my first target, will we get there??

 

[chops_a_must]

As such I am gonna have another crack at this trade in the next few days or even early next week. If nothing happens by end of next week, then this is a dud trade and the bulls will probably end up having good Christams.

Cheers

Looks like that is going to turn out to be a pretty good trade there.

A tonne of short set ups as well out of squeezes by the looks.

 

[Lachlan6]

Gday Snake. Yes looking spot on from both a long term and shorter term swing trade perspective. I have been watching this for a while as believe the fundamentals are great with TPI. Will get in on Monday probably.

 

[wavepicker]

Looks like that is going to turn out to be a pretty good trade there.

A tonne of short set ups as well out of squeezes by the looks.

Have not gone short again on XJO, might wait till Tuesday afternoon as I think it maybe quiet on Monday. I am short the DJIA however and did so Wednesday night.

If this is significant, I was expecting it on Monday/Tuesday not yesterday with a target of 6723. So I am gonna have to do some more work in future to try and improve the timing a little. In contrast the last 2 pivots (16th July and 17th July) where bang on time.

It's actually quite strange, but last nights reversal came after a number of pundits were getting really excited about the futures being up so much, saying that there will be no stopping this market and we will make 7000 easily in the next few days, and have been reversing their comments this morning.

When you start reading stuff like that, the alarm bells start ringing immediately.

 

[chops_a_must]

Have not gone short again on XJO, might wait till Tuesday afternoon as I think it maybe quiet on Monday. I am short the DJIA however and did so Wednesday night.

If this is significant, I was expecting it on Monday/Tuesday not yesterday with a target of 6723. So I am gonna have to do some more work in future to try and improve the timing a little. In contrast the last 2 pivots (16th July and 17th July) where bang on time.

It's actually quite strange, but last nights reversal came after a number of pundits were getting really excited about the futures being up so much, saying that there will be no stopping this market and we will make 7000 easily in the next few days, and have been reversing their comments this morning.

When you start reading stuff like that, the alarm bells start ringing immediately.

I wasn't able to watch it happen live, but on the chart it was a very odd intraday move. Looked like a currency jitter.

This vertical climb has come out of quite bad sentiment I reckon. That's why it has been so brutal a climb. But a test of the previous highs at 6350 would be healthy on the XJO IMO.

I'd also be prepared to take a long on GOLD at the moment, on that previous box play I charted in the gold price thread. Target between 93.50-97.50. That is if I wasn't in the process of having my holdings transferred to another broker.

 

[wavepicker]

have taken a new long position in NWS today at $26.71. Almost idendital setup as BNB. NWS has completed a 5 wave decline from Feb 2007 High of $32.40. Has traced out what appears to be a green wave A up and is now completing a wave B contracting triangle. If this works out the C wave that follows should push prices to a target of $28.50 no later than 18/10/07, but it could be as early as 5/10/07. A break below $26.26( green Wave B triangle blue wave c low) will invalidate this setup. (Only $0.45 risk).

Have an important trend change time window starting today through to end of next week for the market, so will be looking to go short the market late next week

Cheers

Closed this long trade taken out on NWS back on the 28th Of September with the only a very marginal of gains, options nearing expiry in a few weeks and don't want to hold over weekend. Prices did not move as far or fast as I had anticipated, and there is an cycle date early next week for a high, but don't want to risk it.

Cheers

 

[Jadefox]

Closed this long trade taken out on NWS back on the 28th Of September with the only a very marginal of gains, options nearing expiry in a few weeks and don't want to hold over weekend. Prices did not move as far or fast as I had anticipated, and there is an cycle date early next week for a high, but don't want to risk it.

Cheers

Aussie dollar movements frustrate NWS option trades I've found. Simply not enough movement in US shares to offset dollar fluctuations. If/when currencies become a bit more stable it should be easier - particularly a long trade if US$ turns back up.
Appreciate the posts all the same.

 

[CanOz]

Guys,
If your using AB it couldn't get any easier.

Look for a plugin called "powerscan", very easy to use,volume and all sorts of other scans are very simple.

Thanks Bentrod....perfect.

Cheers,

 

[Kauri]

If the U.S takes a dive tonight I'll be looking at shorting the XJO... by my count the 1or A..2 or B count is out the window now, so am going with this possibly being an intermediate W1 which is near due for a W2 correction... also Miners time routines ( which I don't really put much weight on) are both indicating that based on various past swings a change of trend is just past due... not to mention my Budgies latest warning..
Cheers
.........Kauri

 

[wavepicker]

If the U.S takes a dive tonight I'll be looking at shorting the XJO... by my count the 1or A..2 or B count is out the window now, so am going with this possibly being an intermediate W1 which is near due for a W2 correction... also Miners time routines ( which I don't really put much weight on) are both indicating that based on various past swings a change of trend is just past due... not to mention my Budgies latest warning..
Cheers
.........Kauri

Totally agree Kauri, I have been backing this this wave count now for about 3 weeks and expected market finish the pattern off no later than Monday, but trend continued on for another 3/4 days.

Looks like it the market is finally showing sings of churning at last. Not sure how far down it might go just yet if at all, as just weighing up the possibilites, but the next crucial dates appear 14/15th November which are key fib dates and 20th November. Not sure yet if these will represent a low or a high, but cycles say a low.

Cheers

 

[nomore4s]

Have gone short today on JHX after getting stopped out of a long trade on Friday just above break even.

Position taken @ $7.26 just below Fridays low with a GSL at Fridays just above high of $7.54. Have only taken a 1/2 position atm with other 1/2 to be taken if sp breaks through support @ $7.00. Looking for around $6.45 if $7 is broken. Will have a very tight trailing stop until $7 is broken with conviction, due to support at $7 and current bullmarket.

Have taken the position due to JHX being unable to break through the downward trend channel and with Fridays price action on high volume showing some weakness, it also failed to rally past the 1/2 way point of the last reaction. A lot will depend on support at $7.00 though imo, as it looks to be quite strong.

At work so chart is a bit makeshift, sorry

 

[chops_a_must]

Decided to get in on the ticker "GOLD" earlier today, on the weekly r1.5, after a box play seems to have set up.

Looks to be going the right way at the moment. Stop set below the previous low of 81.5, at 81.

Target is above $97.50, but will look to exit if/ when it is above $96. Am also wary of volume spikes on this one...

 

[It's Snake Pliskin]

@snake... I'm also long TPI (from $10.46) after that first rise in volume.
Not really happy with the trade so far as it's not getting on with it .... I'm @ breakeven.
We have that gap @ $12.30, thats my first target, will we get there??

BR and Lachlan,
Lets give it some time to work. Nice to know others are in on it.

 

[It's Snake Pliskin]

Have gone short today on JHX after getting stopped out of a long trade on Friday just above break even.

Position taken @ $7.26 just below Fridays low with a GSL at Fridays just above high of $7.54. Have only taken a 1/2 position atm with other 1/2 to be taken if sp breaks through support @ $7.00. Looking for around $6.45 if $7 is broken. Will have a very tight trailing stop until $7 is broken with conviction, due to support at $7 and current bullmarket.

Have taken the position due to JHX being unable to break through the downward trend channel and with Fridays price action on high volume showing some weakness, it also failed to rally past the 1/2 way point of the last reaction. A lot will depend on support at $7.00 though imo, as it looks to be quite strong.

At work so chart is a bit makeshift, sorry

Nomore,

I am surprised a short is worth taking. I am still long - watched my profit evaporate but I am not mivng stops until wiggle room is comfortable.

Good luck with it. I may need the same

 

[It's Snake Pliskin]

Love those volume bubbles Snake...do you use Amibroker to find them?

Cheers,

Can,

Here is another one that some are trading in this thread. Nice bubble.

 

[nomore4s]

Nomore,

I am surprised a short is worth taking. I am still long - watched my profit evaporate but I am not mivng stops until wiggle room is comfortable.

Good luck with it. I may need the same

Snake, you may be right. Just thought it was worth the risk of a 1/2 position now, alot of the closes on the last rally have been quite weak and it has yet to break the shorter term downtrend, it may also depend on some of the data out of the USA this week but knowing my luck your long is probably very looking good lol.