Possible Japanese Candlestick Chart Trades for December 27, 2007 at FinGad.com

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Possible Japanese Candlestick Chart Trades for December 27, 2007

Categorie: Recreation
Submitted 11 months ago by

Anderson , Senior Architect at Computer Merchants

Thank you very much for the emails and messages of support and encouragement. You are helping me to fine tune my trading skills. Keep those cards and letters coming! What do I do on a Dow Down 200 market, with the S&P losing 1.5%? Simple. Keep going, fine tune my stop loss points, look for opportunities, and even (see below) make a trade or two. Even on the worst day of 2007, with the Dow down 400 points, there were still thousands of stocks that went up. Today, the dry bulk shippers were on fire, because of an an investment by DryShips (DRYS - up 6.5%) in a Norweigian bulk shipper. You would have done as well in Paragon (PRGN) or Diana Shipping (DSX), both recent Jim Cramer picks. Full disclosure: I am long DRYS.Some more of my rules:1) I am not a day trader. After I buy, I want to hold for at least one day, so I can analyze at least one candle. I buy only if the stock trades consistently (for about a half hour or so) above its previous day's close. This may seem against the idea of buying for the lowest price, but I'd rather see that the stock has legs. If the price never gets there, I don't make the trade. After the buy, I set a stop loss that's below the previous day's low with the idea that if I'm stopped out there must have been a real bad reversal during the day. Hopefully, that's a rare occurrence.2) I look for stocks that are a bit beaten down, with a tentative price target the most recent high. I'm looking for stocks ... More...

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#1 | Vtcastle @ 11 months ago User Rank : 532 Portfoilo Balance: $12,365.00 Comment Rating: 0 Flag Comment Spam | Miscategorized | Prohibited: Hey Anderson,So we have another trader here -- good I won't feel lonely. I checked out your trade ideas for today 12/28. Hope you don't mind. 1) UA - looks like it could pop a little b/c the fast stochastic is near its bottom but I don't see it going to 60. It has a long downtrend and since the CEO upset Cramer with his massive insider sell before a bad earnings report, Cramer frequently dogs him. 2) GES - I might nibble on this one today. It held at the 2SD Bollinger band and if it can cross its 10 day MA ~ 43.5 it might go higher to your 46 target. I'd drop there b/c of the negative trendline extrapolates there. 3) NTRI - I see your engulfing pattern but this is more of a coin flip for me. I can't see anything moving it either way other than the Cstick chart, but I do agree your ceiling should be 32. Good luck today. VT

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