3309 Drysdale Ct
Edwardsville, IL 62025
Respectfully disagree. I find coverage of the individual
gold and silver mining charts helpful. GDX, GLD, and SLV
provide the big picture view (much like the major indices do for
the general market), but I trade miners (not ETF's) and appreciate
Matt/Steve's individual chart analysis.
Matt: How would you play a re-entry off the 60 minute chart?
Above the high of the last tick?
Never quite know whether to take these trades inside the pattern
or wait for the breakout. Perhaps you or Matt can cover the
pros and cons of each in an upcoming video. By the way, about
6-8 months ago and for a period of time, Matt would mention buy
points (other than breakpoints) and suggested stops. That
seems to have gone by the wayside.
Understand that the daily newsletters (videos) have also
expanded since then (more charts). Have you dropped that
granular detail due to time constraints? I for one found them
extremely helpful, especially as it frames an answer to my initial
question (buy inside the pattern or wait for the breakout).
FPAY question: I noticed there are 13 upward spikes within
the basing pattern. Each and every time the stock spiked it
sold off immediately (same day or next day). No follow
through whatsoever. Anything to that? What's the best
strategy for trading this? How can one trade with confidence,
especially if not day trading? Even yesterday's breakout gave
it all back before the close.
Are you taking the trade at $10.35 (one cent about yesterday's
highs) or when candle breaks out of the wedge??
Congratulations to the proud dad as well as the team.
Would appreciate you reminding everyone that politics should be
kept out of the Community Forum. You set that rule some time
ago and have stated it from time to time. That means everyone, no
exceptions, right? I have a very different perspective on
life/the world/politics from many who posted comments this morning,
but bit my tongue and didn't respond because I understand this
forum to be about trading.
It really isn't okay to post comments about "the left", then a
few sentences later say: "anyway don't want to get political on the
blog". Today, you and a few others did and some like me are
bothered by it...whether people speak up or not. Thanks.
Might be an active trader reading, but it's certainly not a
reflection of sentiment among long term investors. I oversee
my firm's retirement plan (60 participants). When the average
profit sharing plan/401K plan investor is nervous, I generally get
7 or 8 inquiries from staff asking why the market is lower or
comments like "I thought I couldn't lose money; what's going on?"
My canary in the coal mine. Haven't heard from a single
Thanks for providing audio despite losing your voice and being
under the weather. Appreciate it. Get better soon.
Certainly an odd candle and bizarre trading day, but it's not a
thinly traded stock ($1.2m shares on the day). How exactly
does this possible "manipulation" work? Rumors just prior to
the open that are quickly dispelled?
Would like to understand how a stock gaps down huge like this at
the open, then IMMEDIATELY reverses course to gain 11% on the day.
What series of events creates that reaction? News after
the open? Just trying to understand and hopefully never get
caught in this type of reversal using proper stops.
Seems like it's about $1.00 away from a clean breakout.
Any thoughts on taking the trade here with a tight stop or is
it better to place a buy stop limit of something like
$10.80-$10.82? When the pattern is enticing but the last
price is far from the breakout, I have trouble deciding which is
the better approach.
ZSAN: Sometimes you get lucky. Had a stop in place and was
taken out for a small gain yesterday at $5.15. Gapped down
Nice trade. Congrats. When they move that fast, you
can almost never get out at the top.
VBIO: two questions.
1. How do you consider buying a stock like this with daily
volume of 20K-30K?
2. How does anyone buy $2M worth of stock when volume that day
looks like it was less than 100,000 shares? Exercising options?
Direct purchase from the company?
Just sold out of PRED at $2.20 for a 98% gain. Thank you
Steve. Has a parabolic look on the daily chart and
approaching major resistance from last September. Hard to
manage this stock as a trade since Fidelity won't allow stop loss
or trailing stops on pink sheet equities. Might re-enter down
the road after a reasonable pullback. LOL: Probably will
rocket higher later today.
Is there ever a time a company does an offering where it doesn't
feel like they're throwing shareholders under the bus?
Adding insult to injury, more often than not the offering is at
below market prices.
Trading action in PRED confuses me. Six times since late
November it has presented a huge white candlestick, which is always
followed by a near 100% retracement over the next 5-15 trading
days. Why can't stocks like these find any sort of sustained
Today...or generally speaking? Can you elaborate?
Why? Honest question.
Asking because I often do the same and for me at least, it's
part psychological and tied to my
confidence leveland what else is happening on the
day. If I'm in a confident mood, I usually make the trade.
If not, I wait and wait, then find myself missing on
opportunities. Suspect it happens to many of us, and not due
to a technical read of the chart, either. Those who can
remain objective, almost (but not entirely) mechanical in their
trading probably fare better. But we are human...
MTEM: Any way to prevent this in future?
Bought at $4.20 late January. Stock was trending up nicely
the past few days. Had my stop loss in place at $4.51.
Closed Friday at $4.85. Opening print (1st minute)
Monday was $4.83 on 500 shares traded. Next print (2nd
minute) was down $0.52 at $4.31 on 11,000 shares traded and I was
taken out of my position (1,000 shares) at that price. Then
price immediately reversed. Next trade (3rd minute) was up
$0.37 to $4.68 on
only 300 shares
traded, followed by $4.85 on another
300 shares traded. Stock closed the day at
$4.99 on total volume of 54,500 shares.
Feel like I was robbed. Was this manipulation by the
market maker (to take out stops) or was I just unlucky due to one
large seller? More importantly, did I do anything wrong and
what step(s) can I take to avoid a similar fate going forward?
Here's the daily chart:
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