Interesting Chart Patterns To Monitor In Coming Days...

[MR]

Thanks Ron

[MR]

I wish I could help my AGET friends more, but people don't realize how incrediby hard and stressful it is to do what I do day in and day out, sticking my neck out trying to help people trade successfully. The amount of time and thought it takes to make these posts useful and successful in advance .... well... it's EXTREMELY hard work that only another trader can really appreciate!

That being said... here is a Daily chart of Coeur d'Alene Mines Corp. (CDE). I did this chart last night while working at home trying to find some stocks for a couple friends. They want to find a cheaper priced stock to accumulate for a longer term position type trade.

This stock is worthy of a look on this pullback. I don't believe the longer term uptrend is over. This pullback is only profit-taking. If CDE holds 5.88 to 5.58 it has better odds of continuing up more quickly in a more powerful major wave 3 type action. If it retraces deeper to, say, the 5.00 area, then it will form a more complex correction, yet in the long-run I think it still will go back up and trend to a better return on investment.

[MR]

I posted this earlier elsewhere, but sharing with my AGET friends....

Marc Rinehart Friday, May 5th, 2006, 10:00AM-- The Dow Jones Industrial Average ($INDU) continues to push higher again this morning. At this rate I think it will test the 1/14/2000, all-time 11750.28 high before Memorial Day weekend??? The S&P 500 did open to take out the immediate 1324.70 high (4/20/2006), and I think it too has potential to start working higher today. Monitor to see if it can close above this previous immediate high? (I personally thinks it really wants to.) The Nasdaq 100 and Composite continues to hold up as well, but definitely is the most range trading bound right now. The Nasdaq Composite could backfill this morning, but yet it definitely does have room to inch back up again later today if it really wanted. Bottomline: I see our US market holding up today. Can it can exceed today's opening highs as the day progresses is the real question?

I may be wrong.. the $INDU may hit the all-time high sooner than we think, long before Memorial Day weekend. I also feel a little more confident all the major US indicies will end higher by the end of today.

[MR]

If you haven't looked at banks lately, monitor, for example, select money center banks such as BAC, C, HBC, JPM, USB, WFC, WB, BBV, DB, to name a few. Some have wave 3's, some do not... but, bet u buck they will eventually. Work a review now if interested in a future trade idea.

[Ainsley]

the risk of advice

Hello Marc,

YOur comments earlier regarding finding some stocks for your friends who wanted a longer term position. Really you should not burn yourself out doing this sort of thing as you are now responsible for the profit or loss of this account and this stress compounded ontop of your existing workload is not really fair.

Remember that spagheti western, the good, the bad and the ugly, well my point here is the chap Tuco said one very important comment that is worth repeating ie god helps those who help themselves, so in short you should manage your stress and focus on yourelf a bit as it would seem that you are burning out a bit

In fact in Australia this has been recognised and legislated that only registered financial consultants can give advice and beware anyone else who does, this law seems to be created to protect people like you from yourelf

mind you, sharing your thoughts with like minded people is another matter, I always appreciate your input.

keep it coming but dont burn out

[umehta00]

Good Call Marc.

Good Call Marc on the Bullish Market. Especially the Dow.
It is nice to get your views, they are quite accurate.
I trade a fair bit on the bearish side and know that when everyone is bearish on the market ... (except you and other savvy traders like you) it is a great time to buy. A lot of the individual Dow stocks are still great buys.

[MR]

Re: the risk of advice

Hi Ainsley,

I think you misinterpretated or misunderstood my comments. I apologize for not stating it more clearly.

People often want me to help more than what I think I should, so I don't. Case in point the last several posts in this thread where trading questions were asked and I choose to let someone else answer. I guess subconscienciously I was trying to address that issue. I hate having to be that way. I have a big heart and genuinely want to assist people with my large knowledge base of trading and technical analysis. I will admit I can occasionally lose sleep wishing I could help someone but struggle with how to do so without adding stress, headache, or opening up potential liability issues.

Secondly, in the case of CDE, I am not giving advice, just sharing a general technical analysis observation based on years of watching chart patterns. I have always been very careful not to give advice, even when I was a registered CTA and posting Advanced GET charts for Trading Techniques and later eSignal when they bought us.

Third, when I was referring to helping a couple friends, I am talking about people who I would trust with my life, who are as knowledgable or more successful than me in their personal trading. They don't need my advice-- they can think for themselves-- but they still do appreciate and value my sharing market observations because they recognize I can, at times, be very good at what I do.

Fourth, the point you made about God helps those who help themselves, I think is only a partially correct scripture truth. In total context-- after spending probably 40 years studying God's Word-- I believe God places higher importance on the notion it is more blessed to give than receive. When I try to help someone it is really an unconditional effort with no motivation for personal gain. If one were only motivated by personal gain, one could very well miss out on the eternal gain that is to come. God has already provided for my needs, and this is my little way of giving back in thanks.

Finally, I had the flu last week, but I think I am healthy now... am not feeling burnt out either. I am actually feeling quite good lately now that our Ohio weather is getting really nice.

I apologize for the earlier misunderstanding, and for having to give this detailed answer. I kind of felt maybe it was necessary in this case.

Best wishes,

Marc

Originally posted by Ainsley
Hello Marc,

YOur comments earlier regarding finding some stocks for your friends who wanted a longer term position. Really you should not burn yourself out doing this sort of thing as you are now responsible for the profit or loss of this account and this stress compounded ontop of your existing workload is not really fair.

Remember that spagheti western, the good, the bad and the ugly, well my point here is the chap Tuco said one very important comment that is worth repeating ie god helps those who help themselves, so in short you should manage your stress and focus on yourelf a bit as it would seem that you are burning out a bit

In fact in Australia this has been recognised and legislated that only registered financial consultants can give advice and beware anyone else who does, this law seems to be created to protect people like you from yourelf

mind you, sharing your thoughts with like minded people is another matter, I always appreciate your input.

keep it coming but dont burn out

[MR]

Re: Good Call Marc.

Hi, thanks for you very nice comments. I am grateful for the opportunity to be useful,
and happy from the knowledge someone benefited from my efforts to help here.
Best wishes, God bless, and hope all the trades go your way next week! - marc

Originally posted by umehta00
Good Call Marc on the Bullish Market. Especially the Dow.
It is nice to get your views, they are quite accurate.
I trade a fair bit on the bearish side and know that when everyone is bearish on the market ... (except you and other savvy traders like you) it is a great time to buy. A lot of the individual Dow stocks are still great buys.

[Ainsley]

its interesting how charts and situations can be interpreted in so many ways, apologies for any offence, certainly not intended

Good trading to all

[LRath]

CDE

Great observation on CDE, Mark. I've been watching this one for the past couple weeks due to some of the strong fundamentals for Silver with the new ETF trading now, etc. Looks like CDE's meeting all the Type 1 trade requirements, and the stochastics look good based on a "No False Bar" Stochastic trade. Just waiting for that ellipse to confirm ...

Lee

[MR]

Re: KC Wheat Hourly Chart

Philippe,

Been noticing your Kansas City Wheat is starting to move again. Chicago lagging a little but having potential to tag along with KW N6 soon. Curious if you have an update on this.

Hope all is well.

Marc

Originally posted by PRH
From time to time I play with the Gann Box in the manner that Andy B. taught the Advanced Get followers... This hourly KC wheat chart (July) seems to follow the roadmap quite well.

Comments and criticisms are invited and welcomed.

Cheers,

PRH

[MR]

April 20th I posted the following on Apple Computer. (see below, or scroll back to the date of the post to read detailed AAPL post) Here is an update on that chart. Notice Apple is higher than where it was, but it is now testing a key minor MOB. Will update at a future time if can add more insight. My overall impression of this stock has not changed since this original post.

[MR]

Here is current Apple Computer chart as of May 8th 2006.

(* I will try to redo the chart later tonight so you can see it better, if i can get some time.. This captured image is kind of small to see.)

[MR]

Here is a second try at creating a bigger Apple chart. I still like AAPL longer term. If it backs off here it is because of this MOB resistance. In the near-term that will setup a better buy for later when it will attempt another uptrend.... is my guess

[MR]

FWIW, I ended up buying 500 shares of CDE today.