Interesting Chart Patterns To Monitor In Coming Days...

[PRH]

Hi from NYC. Will post my weekend update later tonight (after the show).

PRH

[PRH]

Just in time this morning...

Update December 12, 2004.

Weekend update.

Activity of Friday in stocks:
Went long PH (buy stop 76.04) - it retraced sell stop 75.50 hit. Loss 0.54
Went long LFG (buy stop 54.65) - close 55.97 up 1.47 on the day. We are ahead 1.32 from entry and raise the stop to at least breakeven, and more likely to 55.20 The chart pattern is interesting as it shows the price breaking out from the ascending triangle congestion pattern of the last 6-7 days.

Mentioned but not taken:
ENZ - triggered long 19.20 - closed 19.23
INSU - triggered long 23.05 - close 23.44
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Weekend scan - 288 stocks in weekly up wave 3 and xtl blue;
153 stocks in weekly wave 3 down and xtl red

Among the 288 weekly up, XTL continuation buys in 18 stocks:
AF, BTU, CPO,CTSH,GGG,HET,INCY,LYO,NSC,NUE,OLN,OS,PR,SHW,TX I,UDI,UST,WSO

Of these, my choices would be AF,CPO,GGG,HET,OLN,TXI,UDI,WSO.
but since we are still traveling, we will not place any new trades, only tighten up the stops on existing positions.

All of the above is for education and entertainment only, it is not trading advice, trade at your own risk, and all the usual disclaimers.

Have fun!

Fair winds and following seas.

PRH

[MR]

General Electric (GE) Follow-up

Here is a follow-up chart of a previously posted aggressive Type 1 Buy setup for GE daily.
I strongly suspect if it can trade above the minor MOB shown on the chart, odds are very
good it will continue to trend up more for near-term picture. -MR

[MR]

Phillippe,

Thanks again for sharing... appreciate it and looking into some of the ideas. Thanks!

Marc

[PRH]

Update December 13, 2004.

Stocks:
Long LFG (54.65) - stop 55.20

Mentioned but not taken (those were my choices for today)
AF - not triggered
CPO - not triggered
GGG - not triggered
HET - triggered long 62.25 - closed at 63.42 up 1.74
OLN - triggered long 21.90 - closed at 21.99 up 0.14
TXI - triggered long 58.45 - closed at 58.33 up 0.74
UDI - triggered long 46.12 - closed at 46.86 up 0.81
WSO - triggered long 32.53 - closed at 32.49 up 0.05

Among the other stocks (not my choices) the following triggered:
BTU, CTSH, LYO, NSC, NUE, OS, PR.

We need to refine our algorithm to more sharply define our choices among many candidates. Our choices go 5/8 yet missed 7/18. More research needed here.

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Tonight's scan shows, non unexpectedly a large number of XTL Continuation buy configurations for stocks (27 stocks). If there is an interest in me listing them, please let me know.

Two weeks ago we had a precision trade in ALK - it consolidated and now may have another opportunity at the long side of ALK with a buy stop as entry at 32.28 or so with a 0.50 risk.

CME keeps charging higher with apparently no end in sight.

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Futures: we are still long the YMH5 and ABH5 (ERH5). No new signals or positions.

All of the above - entertainment/education - is not trading advice - and the usual disclaimers - trade at your own risk - be careful.

Fair winds and following seas.

PRH

[PRH]

December 14 - update on our strategies for today

LFG - long from 54.65 - closed at 56.55 - we will move protective sell stop up from 55.20 to 56.10

ALK - we will enter a buy stop at 32.28 to enter position - and place a protective sell stop (if filled on the buy) 0.55 below the fill.

This for information/education/entertainment only.

Good trading and happy holidays.

PRH

[MR]

MSO update, part 1

MSO update, part 1

To updating our previous discussions on Martha Stewart (MSO).
(See below a quick reference of previous posts on this stock....)

[MR]

MSO update, part 2

MSO update, part 2:

Here is a copy of a more recent MSO update with chart shown.... for quick review....

[MR]

MSO Update, Part 3

MSO Update, Part 3

Here is a copy of the Martha Stewart (MSO) stock, as of today's close. It shows MSO hitting the Wave 3 target shown in the previous chart.

If you see a Wave 4 pullback now, odds are favorable this stock will attract more buying again (to return this current uptrend) once the Major Wave 4 is completed.....

(I have no position in this stock.)

[MR]

A few of us who post here constantly stick our neck out to help our fellow trader. We do so in on our own time, sharing ideas at our own expense. We are not compensated for being here. Sometimes we get it right, sometimes we fail to communicate properly. I would like to think we have had more successes than failures. MSO is one stock where the posts might have communicated a good trading opportunity for an astute trader. Either way, best wishes, and good trading to you all this month! MR

[PRH]

[PRH]

MR - very nice posts on MSO - and you are correct on your last point - I would hope there would be more posts here...

Update end of day for December 14, 2004.

Existing positions:
LFG - long from 54.65 - closed at 56.75, up 0.20 today. We will raise the stop from 56.10 to 56.30 which is under the 61% retracement of the recent swing up on the hourly chart. If it breaks below that, we should be out of the trade.

Still long the emini dow and emini russell 2000 futures.

New positions today:
Long ALK 32.28 - closed at 32.06 - we keep the stop at 31.73

Mentioned but not taken:
HET, OLN, TXI, UDI, WSO (all triggered yesterday) - all up on the day. If I had these stocks, stops would move to breakeven and would take profit on some tomorrow.

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Tonight's XTL Continuation buy scan:
Futures: no signal
Stocks: buy signals on 11 stocks
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We will not take any new positions at this time, just continue to stay with existing positions and raise the protective sell stops as is possible.

Fair winds and following seas.

PRH
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[PRH]

Stopped out of LFG (stop 56.30) at 56.25. Profit 1.60
Still long ALK

[PRH]

End of day update Dec 15, 2004.

Profit taken (stopped out) on LFG (1.60)
Still long ALK (32.28) - we move sell stop to 31.93.

New XTL Continuation buys on DFG,IEX,SFNT,WLM.

PRH

[MR]

MSO (see post below) has exceeded 1.62 area since last post, currently trading at 32.34. Aggressive traders monitor time frames between hourly and daily for any kind of a pullback and possible Type 1 buy setup next two weeks?