03/14/2013 Live Update

[Apple]

[L_T]

Anyone else play the ACM breakout? I'm looking to unload at $32.90 as a market pullback is all but inevitable in the next few days.

No but I saw that it made a move yesterday and more today. There are some real gems in Cobra's weekly breakout lists.

[Cobra]

the bias is up.

[jarbo456]

Anyone else play the ACM breakout? I'm looking to unload at $32.90 as a market pullback is all but inevitable in the next few days.

yes.

but was shaken out of the first entry. had to reenter, so not quite up as much as i'd like.

about $33 - 33.90 marks the 61% measured move and 100% measured move out of the rectangle.

those are what i'm eyeing.

[KeiZai]

where are all the bears? nobody believes in a down move anymore? that must be a contrarian indicator

I just woke up today

Boss she let you out early today?

hehe yes to make something stupid


come on bulls push it harder to my targets!

[quientuves]

Nice cover-your-ass chart.
I’m sure you’ll link us to this and other uncredited (borrowed) charts when the market turns.
Don’t bother replying.
I have blocked you.

Mmm. what's the problem? Harapa has two visions of the game? I guess most of us have... Harapa (as anybody else) can be wrong even in both scenaries . I didn't track him to know how he manages mistakes, cause it's not important to me. I simply add one more vision or scenario and make my own evalution.

If you are a trapped bear (like me ), and can't manage the situation, don't pay it with other people... Simply close your bet, take some fresh air, and return to the playground later.

Look, though this is a quite serious game, it's needed to take some distance to play it. Otherwise, your heart and/or your brain couldn't resist it. Even better if you can add some humor...

[gappy]

where are all the bears? nobody believes in a down move anymore? that must be a contrarian indicator

As "they" say, only price pays. When the inner evil starts creepin to the surface, I just go to this guys blog. http://www.aei-ideas.org/channel/carpe-diem/

retail.jpg

GLTA!

[jarbo456]

This chart is from Evil...I think everyone here knows who Evil is, just in case not...
http://evilspeculator.com/?p=34655

saw a similar chart yesterday, but wasn't indicating distribution as the mole is suggesting, but rather diminished accumulation...slight degrees of difference, but pretty major ones.

[Al_Dente]

ERX
(paging apple: pls post your update chart)

Moving average crossover is a way bit above zero...but still looks as a float up.

thx boss

[gappy]

Nice cover-your-ass chart.
I’m sure you’ll link us to this and other uncredited (borrowed) charts when the market turns.
Don’t bother replying.
I have blocked you.

Mmm. what's the problem? Harapa has two visions of the game? I guess most of us have... Harapa (as anybody else) can be wrong even in both scenaries. I didn't track him to know how he manages mistakes, cause it's not important to me. I simply add one more vision or scenario and make my own evalution.

If you are a trapped bear (like me ), and can't manage the situation, don't pay it with other people... Simply close your bet, take some fresh air, and return to the playground later.

Look, though this is a quite serious game, it's needed to take some distance to play it. Otherwise, your heart and/or your brain couldn't resist it. Even better if you can add some humor...

That's why over the long term women have been proven superior traders.

[johnnywa]

Bulls may want to be cautious here...looks like a big move down may be coming early next week...we most likely retest the highs afterwards...

Dow...potential count...

the 5 should be done today in all indexes already...I'll be out of my short today if we close above new high zone, wait for new set up on bull or bear side. stress free is my preferred trade.

I think uempel had a signal for tomorrow morning? Does anyone remember? Monday looks like it could be a big down day...but it could start as early as tomorrow morning...

Did I here that right? Tom Mc.Q on CNBC says correction imminent

[Al_Dente]

That's why over the long term women have been proven superior traders.

over the short-term too

http://www.youtube.com/watch?v=1yEoL49N ... re=related

[jarbo456]

Anyone else play the ACM breakout? I'm looking to unload at $32.90 as a market pullback is all but inevitable in the next few days.

No but I saw that it made a move yesterday and more today. There are some real gems in Cobra's weekly breakout lists.

I was also shaken out of DK for this week. Besides those two (DK and ACM) nothing else hit my trigger.

Last week was a doozy of a week for Cobra's screen. Only one didn't trigger - NXPI - and one was stopped out after a major reversal - ARMH (my stop loss got me out down 1.2%).

The rest of last week was on a tear, and I exited SNTS yesterday at +20.65%. I'm currently holding SVU (+10.97%), PSX (even), KKD (+11.12%), HRB (+10.79%), CYH (+2.7%), and AC.B (+5.24%).

I'm using equal capital weighted position sizing, but may move to a more optimal volatility weighted positioning scheme in the near future.

I'm still working on a couple of optimization factors, and I'll be the first to say that last week was an outlier in the high success rate 87.5% (7 out of 8 as I eliminate the non triggered position - NXPI). But with the proper entry and risk management, and in the current frothy environment, short term breakout trading doesn't seem like a bad idea.

[Cobra]

Anyone else play the ACM breakout? I'm looking to unload at $32.90 as a market pullback is all but inevitable in the next few days.

No but I saw that it made a move yesterday and more today. There are some real gems in Cobra's weekly breakout lists.

Thank you. We have thousands of daily readers here, so I cannot give exactly entry and stop loss, but they're very easy to figure out as long as you understand the base and breakout sample I give.

I actually MANUALLY selected all those stocks from 300+ stocks I scanned.

so far 2 clear breakout. 1 false breakout but the battle not over yet and all the rest the setup still valid.

[stlwater]

Anyone else play the ACM breakout? I'm looking to unload at $32.90 as a market pullback is all but inevitable in the next few days.

yes.

but was shaken out of the first entry. had to reenter, so not quite up as much as i'd like.

about $33 - 33.90 marks the 61% measured move and 100% measured move out of the rectangle.

those are what i'm eyeing.

I'm looking at the two failed hits of 33.00 in 2009 as short term resistance.

[jarbo456]

Anyone else play the ACM breakout? I'm looking to unload at $32.90 as a market pullback is all but inevitable in the next few days.

yes.

but was shaken out of the first entry. had to reenter, so not quite up as much as i'd like.

about $33 - 33.90 marks the 61% measured move and 100% measured move out of the rectangle.

those are what i'm eyeing.

I'm looking at the two failed hits of 33.00 in 2009 as short term resistance.

yeah, doesn't look like a bad spot to get out.

[jarbo456]

I'm about to give up on my SLV trade.

Anyone else have an opinion (I remember a couple of people took this trade with me). The short term reversal back to 29.40'ish looks in danger as every up move has been weak and overlapping.

[Al_Dente]

IBM daily

[stlwater]

Someone posted a chart of Goldbugs a few days ago but I want to bring it out again because I think it's important in light of why I think we'll see another move up in gold and possibly another huge rally over the next 5+ years. The GDX chart is the way I see it... Falling wedge running into a major long term trendline which isn't going to be ignored IMHO...

[jarbo456]

Last one for anyone holding a long term portfolio.

MRK

I've had this chart up for months now. I like the potential 1-2-3 reversal, and also the fact that it clearly destroyed the diagonal trend line, but came immediately down to test it. It's probably a little early, but I like accumulating MRK around 44.50.

The second chart shows the affects of sector rotation - if one bought MRK in the beginning of May and sold at the end of the year, they would have made money 6 out of the last 7 times. As we know, 7 isn't a statistically significant number, but worth mentioning, nonetheless.