Spike's Scientific Stock Analysis

[mrmarket]

Our resident genius chartist candlesticks his way into your heart...

[Websman]

Our resident genius chartist candlesticks his way into your heart...

I love this guy Spike!!! He will surely be a significant contributor to my future, enormous wealth and prosperity! I thank him! My children and grandchildren will thank him!
Thanks for giving Spike a chance $$$Mr Market$$$! You are truly Huge and open minded!

P.S. I just got back from a trip to Italy, Switzerland and France a few weeks ago. I think I will buy a castle over there when I retire! Yes my dreams will come true!

I love it!!! HA HA HA!!!

[ForeverInvesting]

The technical analysis thread for Spikefader sounds very helpful. I am just starting to learn technical analysis so it will be helpful to have the technical analysis take on Mr. Market's great fundamental analysis of his stock selections since every dollar does count. Any other technical analysis on whatever Spikefader find interesting would be fine with me.

By the way, I bought 1000 shares of OFG today at $30.94, and, as you said Spikefader, I probably should have waited a little longer before buying. I know that the 38.2% 13-week Fibonacci price retracement level is $29.77, the 50% retracement is $28.79, and the 61.8% retracement is $27.81. What is the lowest price level do you see and what is the most probable downside price level do you see price level for OFG?

Thanks in advance, I am sure your answer will be insightful as always. I seen your comment on MAGS (good call), what price level do you do see as a “smart” long entry price level for MAGS? If any of the security stocks can be considered a “smart buy” given there huge price appreciation as of late.

Michael Taylor

[scifos]

I really look forward to reading more on this thread

[spikefader]

Our resident genius chartist candlesticks his way into your heart...

Certainly no genius, just a humble chartist looking for great entries for those gems discovered by Mr.Market's meats 'n cheese model, and any other hot stocks others can dig up.

Thanks for starting the thread Mr.Market, and I hope that any thoughts thrown around in here can be helpful to the quest for easy profits. May the gems your model uncovers be traded such that it will be like gently reaching down and picking diamonds from loose soil as opposed to digging dirty great holes

...surely be a significant contributor...

May it be so. But whatever this thread contributes, may all readers never forget that there is no holy grail, save for our own self-discipline in planning the trade and trading the plan.

...just starting to learn technical analysis so it will be helpful to have the technical analysis take on Mr. Market's great fundamental analysis of his stock selections since every dollar does count. Any other technical analysis on whatever Spikefader find interesting would be fine with me.

Yep - every dollar does count. And we all read about how great entries is what will lead to enormous profits. Wouldn't it be great to combine some simple technical principles to the outstanding prospects found by Mr.Market and others to achieve the 'great entries' that others in hindsight will regret not seeing.

Let the charting begin.

[IIC]

Great Spike...Personally I use a lot of sites, DGO, TC2000, StockCharts...also some others geared towards technical trading...any sites you suggest???...THX, IIC

[spikefader]

By the way, I bought 1000 shares of OFG today at $30.94, and, as you said Spikefader, I probably should have waited a little longer before buying. I know that the 38.2% 13-week Fibonacci price retracement level is $29.77, the 50% retracement is $28.79, and the 61.8% retracement is $27.81. What is the lowest price level do you see and what is the most probable downside price level do you see price level for OFG?

Thanks in advance, I am sure your answer will be insightful as always. I seen your comment on MAGS (good call), what price level do you do see as a “smart” long entry price level for MAGS? If any of the security stocks can be considered a “smart buy” given there huge price appreciation as of late.
Michael Taylor

Hi Michael.
The chart:



Comments: The daily channel behavior change from yesterday to eod today suggests caution for longs, in that the channel widened slightly on the move down. It is a relatively low volume stock, so it can be jumpy at times, which could be the reason. Looking intraday, I see a little late buying after a weak day, but if it were me, I'd look to move my stop to break even as soon as possible and look to exit if today's low gets taken out. If that happens, there will be a better time to enter rather than hold on and watch it go back to 30 to test support.

As for lowest price I see, I always remember the Enron story, which is a great reason to never compromise stops. They will save you, so learn to love them. Right now, the most probable based on the chart today is that it will bounce here and test the upper red channel. But bad news for the stock, or bad market news can override that in a second, which is why stops are so important to all traders. Better to lose $200 via a stop than $2000 by compromising one.

Smart entry for MAGS is either the lower channel posted in the other thread or 38.2 or 50 retracement. With these high volatility movers, stops even more important.

[spikefader]

Great Spike...Personally I use a lot of sites, DGO, TC2000, StockCharts...also some others geared towards technical trading...any sites you suggest???...THX, IIC

I've been spending more and more time watching the eminis these days, and less time looking for stock ideas, but when I'm looking I'll check out a few like:
Zeev http://www.investorshub.com/boards/b...?board_id=1125
Mishedlo http://boards.fool.com/messages.asp?mid=20623860
and trenchrat's board http://boards.fool.com/Messages.asp?bid=113032
Otherwise, I'll just do a simple scan on stockcharts.

[spikefader]

Just checked IB shortable stocks, but IPIX not available it seems. No options on it either.

Just have to watch this one and use it as an example and wait for the long opportunity:

[spikefader]

what price level do you do see as a “smart” long entry price level for MAGS? If any of the security stocks can be considered a “smart buy” given there huge price appreciation as of late.

Michael, good point about the 'smart' buy given the bubble behavior. Real smart longs will probably wait for 50% retrace. Aggressive longs will attempt the channel play. It all comes down to having a plan you're comfortable with, and letting the cards fall as they may, and having the discipline to put your stop in and not move it.