Monday, February 15, 2010

"Fasten Your Seat Belts, It's going to be a bumpy Ride"

OK, its just been an incredibley nutty several weeks, and I do apologize. The weather, and events of the week has just eaten at all of my free time.  I started this post Fri, then again last night, and now I am finally getting the time needed to post my update...a few days late..sorry again. 

My bearish side is beginning to slide away with my time chart.  R, your March high really could come to light.  Now most of us have some kind of turn coming on 15-18th. There is still a large Bearish Divergince according to the McHugh camp, and the EWT boys are calling that we started the 3rd wave down and have the 2nd wave is about done or is done.  McH's camp is calling for a turn on Wed. of this week or the turn already happened last Thurs. This camp is calling alot at once..they say we have a large price move coming...the ? of the wkend is what direction...they are all calling down, My indicators are not matching theirs at all, I have a possible move up first, on 10 day charts...and that could mean 3hours or 3 days right now...and that is what is making all of my trading lately so difficult. I did exit my MNKD on Friday. I could not loose the profit that I had made on this stock to a large decline that I have no control over, so I took the $$, good or bad...even though I have this stock going to $12 area. I will miss the extra profit if it goes there but C once said when its profit its profit, no matter how you trade, and I myself will take 4% on this and leave happy. and I  am very pleased with my take on this small potatoe stock. I have traded just a hare bit over 12 thousand shares off and on with this stock. I just dabbled with this one, but I really feel this stock could bring 20$ in the end once they get a partner to produce the Inhalable Insulin, and I think at that point MNKD could be bought out by a major competitor..so I am looking for a correction and will be purchasing again to possibly hold this one.  So, let me know what you think, research it, I love feedback on a stock that I like and maybe you don't, so give me your thoughts.  OK, but I heard a guy that I like alot call for a further correction of another 10%,   Markets are closed Mon. for the Pres. Holiday, and I hope that most of you do not have to work, but some of us are not that lucky, and another major Snow storm is heading my way, so either corrective wave 2 is almost done, or we are heading up to finish the 2nd wave and its causing my QID trades  and myself to be down 14.58 % down right now ont his trade..my limit is 5% usually, but I overslept and thought I had my loss stop in...major mistake, If  the odds on this move change much more, I may have to dump my downside stocks, and just re-analize my position, and suck up the loss, that is what trading is all about.
RK, Investools is just incredible for the beginner. It has so much information on it, the training video's and other great beginner stuff. I would recommend this pay site to anyone. It is linked with TDAmeritrade, Think or Swim and has Prophets charts. I am still searching the site..I have only 20 days left to make up my mind but I like the freecharts site too.  Have a great day off will update later >L

2 comments:

  1. I don't know L, I think we might top tomorrow and head south.

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  2. Hi L a friend of mine started
    strategydeskcode.com to provide
    ALGO software and weekly signals
    may eventually add a weekly
    commentary. I am still looking
    for a drop around March 7th +/-
    We will see if that happens...

    ReplyDelete