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Post by huh on Jul 24, 2015 12:53:10 GMT -5
AMZN up over 20% in pre-market. I know this one's obvious but do not, I repeat, DO NOT chase it up here. It's pre-market highs are testing the top of an up channel that began back in Sep '11, and is doing so on the back of multiple gaps over a previous H&S that has yet to hit it's downside target (aka final squeeze). It looks like it will gap up over the top of that channel, but I'd definitely wait until it confirms over it for a couple of days:  Now that's resistance  |
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Post by birthmark on Jul 24, 2015 12:53:26 GMT -5
I'd move stop up in MNKD to <5.45 now. It's building a small pattern for 5.64-5.66, but ideal sell target is in the 6.60-6.75 range. Hopefully you used that stop BM. Only a small gain, but this market's just crazy. I was really hoping it would have been one of those bullish break outs. Nothing wants to stick to one direction except miners (And unfortunately that direction has been down). You're a good man Huh. I broke even-- sold at my buy price (actually lost $ with commissions) What a market... I think we'll see your 4.70 with MNKD GL and thanks |
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Post by huh on Jul 24, 2015 12:54:27 GMT -5
Hopefully you used that stop BM. Only a small gain, but this market's just crazy. I was really hoping it would have been one of those bullish break outs. Nothing wants to stick to one direction except miners (And unfortunately that direction has been down). You're a good man Huh. I broke even-- sold at my buy price (actually lost $ with commissions) What a market... I think we'll see your 4.70 with MNKD GL and thanks 4.70's not my low target (unfortunately) |
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Post by huh on Jul 24, 2015 13:05:12 GMT -5
If I were crazy enough to go long anything right here (I'm not), it would likely be only AAPL and banks - and this is because they are the only things that are trading at regular pe ratios (vs. the hyper extended pe's of nearly everything else)
And maybe gold miners, but not until we see what they do today and early Monday morning. A nice washout in gold down to ~1050 would make me feel a lot better about a risk in miners, but not absolutely necessary.
I'm out again. BOL all and have a great weekend!
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Post by dino on Jul 24, 2015 13:37:13 GMT -5
If I were crazy enough to go long anything right here (I'm not), it would likely be only AAPL and banks - and this is because they are the only things that are trading at regular pe ratios (vs. the hyper extended pe's of nearly everything else) And maybe gold miners, but not until we see what they do today and early Monday morning. A nice washout in gold down to ~1050 would make me feel a lot better about a risk in miners, but not absolutely necessary. I'm out again. BOL all and have a great weekend! Watch XLF. Bearish engulfing candle yesterday. Confirming today. But... ANYTHING is a candidate for a squeeze... |
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Post by dino on Jul 24, 2015 13:43:50 GMT -5
ES hit the top and making the turn (again). SPX/SPY very similar. Forming the right shoulder of a bigger H&S pattern (again). Wash. Rinse. Repeat.  |
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Post by jacksrbtr on Jul 24, 2015 20:30:41 GMT -5
Have a great weekend Gang!
Tomorrow is "National BLT down Mayo Day" around here!!!!
: )
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Post by huh on Jul 25, 2015 9:11:20 GMT -5
...And GDX could be looking at a 28% drop from here yet ...  Was down 28% almost exactly since. ...Although GDX has a near term downside target ~13.10-13.25, the long term target is 4.75. That being said, I wouldn't be at all surprised to see GDX between 16.50-17.70 again before the long term target is hit... Was looking for 13.10-13.25 downside in GDX... Here's a look at the completion of that particular bearish pattern in GDX:  So was that the long term bottom? Nope, almost definitely not. Short term bottom? Perhaps, but take a closer look at where GDX and GDXJ peaked on Friday afternoon: GDX  GDXJ  So there's potential right here for a squeeze, at least enough to possibly fill some of the upside gaps. But for me at least, I still need to see Monday's action breaking over these near term resistances to confirm it. |
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Post by birthmark on Jul 25, 2015 13:52:18 GMT -5
Great charts Huh.
Thx
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Post by jacksrbtr on Jul 25, 2015 15:24:16 GMT -5
Yuh Huh! "Most Excellent!!!" work!
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Post by jacksrbtr on Jul 25, 2015 15:34:02 GMT -5
And btw there ain't NUTHIN' like a "Supersteak" variety tomato on a BLT down Mayo. A luscious ripe one co-mingling with mayo and bacon: a Maurice Chevalier "Heaven - I'm in Heaven."
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Post by novie08 on Jul 26, 2015 11:32:38 GMT -5
Totally agree, can't find any around here.
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Post by jacksrbtr on Jul 26, 2015 16:22:05 GMT -5
Totally agree, can't find any around here. Next Spring I'll send you a couple seedlings if I can figure out how to do that surviving intact. |
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Post by jacksrbtr on Jul 26, 2015 16:23:48 GMT -5
Totally agree, can't find any around here. Next Spring I'll send you a couple seedlings if I can figure out how to do that surviving intact. The seedlings that is..... |
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Post by novie08 on Jul 26, 2015 17:06:57 GMT -5
Next Spring I'll send you a couple seedlings if I can figure out how to do that surviving intact. The seedlings that is..... You mean you aren't going to hand deliver them???  That is so sweet. It gives me something to look forward to. 'Matos!!! Nothing more delicious. |
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Post by jacksrbtr on Jul 27, 2015 6:44:54 GMT -5
The seedlings that is..... You mean you aren't going to hand deliver them??? That is so sweet. It gives me something to look forward to. 'Matos!!! Nothing more delicious. Start saving your eggshells!!! Another one is the golden colored "Hawaiian Pineapple". They bring "luscious" to a whole new level - you can almost squeeze out the juice in those babies just by turning them on their side - we had one in a salad last nite it was unbelievable. We are now rich in golden tomatoes (gold not so much).  |
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Post by birthmark on Jul 27, 2015 12:02:09 GMT -5
Hopefully you used that stop BM. Only a small gain, but this market's just crazy. I was really hoping it would have been one of those bullish break outs. Nothing wants to stick to one direction except miners (And unfortunately that direction has been down). You're a good man Huh. I broke even-- sold at my buy price (actually lost $ with commissions) What a market... I think we'll see your 4.70 with MNKD GL and thanks There's your 4.70 Huh Good call |
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Post by huh on Jul 27, 2015 12:05:19 GMT -5
You're a good man Huh. I broke even-- sold at my buy price (actually lost $ with commissions) What a market... I think we'll see your 4.70 with MNKD GL and thanks There's your 4.70 Huh Good call And then some. If >4.82 now gets 5.02, then probably pull back to mid 4.90's, then up to 5.40's (must hold 4.72 support now) |
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Post by huh on Jul 27, 2015 13:08:58 GMT -5
And 4.72 was the low in MNKD so far after that. That's definitely the stop now.
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