Tuesday, July 27, 2010

Earning Season Positive All "Around"!

Well, out I went yesterday, totally into cash, except for the few stocks that I have been holding for awhile now.  MNKD, ARNA, and ABK.  Now 2 out of 3 is not bad.  Alot of rumors floating right now, and that is making the people sitting on the sidelines edggggggy!  For a Bear, well, I lost all and I mean I lost all of my profits that I had worked hard for!  I am not upset though. I tell ya alot of these moves in the past yr have been well, nuts!  and thats great. I will set myself up for the 1250 area that I had called a while back.. and guess who else has my old #'s.. Yep PUG!.. he posted again this morning over at HOB's... so I really have nothing to say but Happy Trails and good trading to all of you today.. looks like a real positive open and all we can do it try,try again. This is the name of the game. check out pugs chart.. it says it all.. EWT had a horable update by the way. They really never said much just hang in there we are going to fall sometime!!!  I am leaving my membership for the 3rd and final time, I usually get better advice from a box of Cracker Jacks  I am sorry to say.  McHugh went totally bullish on all signals.. thats why I can't argue with Pug at all, most of the Support and Resistance levels are still standing from yesterday, do not worry if we pull back late today or tomorrow.. I am looking for a retrace of some sort by weeks end... I do have turn date on Fri july 30... also Historically first wk of Aug is bearish... and if my 30 day top and bottom is still ongoing.. we should top On or around Aug 2nd... could we make it to 1250 by Mon?  hey they won't stop trading if it goes up do they...LOL!  I love our rules.. makes absolutely no sense...later>L

2 comments:

  1. L,

    Its amazing to see how people went from bearish to bullish in couple of days. I think we have to tune our selves to be that way. I am trying to be bullish but just sitting on the side lines.

    Afraidtotrade: Corey posted a similar 3 push pattern for Ford yesterday afternoon.


    RK

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  2. L,

    I would rather take that base from candle bodies without the tails. That shaves about 20 points from the base and hence roughly a 100 point move from 1120 which targets 1220.

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