dig

    Posted by jackson on 20th of Aug 2008 at 07:17 pm

    Any thoughts if Dig continues upward I have some  calls sept 80's purchased on Frid  and not able to be in front of the screen on tommorow and looking for any advice if I should exit or ride for a few more days? Thank You 

    jackson - see my response to

    Posted by matt on 20th of Aug 2008 at 10:08 pm

    jackson - see my response to DIG below

    DIG

    Posted by googool on 20th of Aug 2008 at 11:05 pm

    I just remembered something, DIG gapped up, and then backtracked into the gap, and rallied again, this is very bullish, and I, personally have raised my stop to below the gap, if it really wants to move, it should not take it anytime soon, also, close to lower rim of the gap can be a low risk entry point 

    DIG

    Posted by martin on 21st of Aug 2008 at 09:31 am

    The gap you refer to, yesterday's, was a breakaway gap(gapped over a downtrend resistance line) -- as I noted yesterday.  Many other breakaway gaps were made in energy stocks too, i.e. CHK, PBR.  Significance - breakaway gapups usually lead to a nice rally without the gap being filled first. 

    well this one got back

    Posted by dallahoo on 21st of Aug 2008 at 09:43 am

    well this one got back in the gap, look at 15 minute chart

    I stand corrected, DIGdid fill

    Posted by martin on 21st of Aug 2008 at 11:36 am

    I stand corrected, DIGdid fill its gap yesterday before quickly taking off again, so it didn't make a breakaway gap but did make a breakout from its downtrend.  Today it gapped out of a month-to-date rectangular base.

    I 'rather make money by

    Posted by dallahoo on 21st of Aug 2008 at 11:47 am

    I 'rather make money by looking at price action, not prasing text book definitions

    Trades are winning trades or

    Posted by martin on 21st of Aug 2008 at 12:14 pm

    Trades are winning trades or losing trades precisely because of price action.  Therefore your preference for following price action does not contradict the traders' aphorism to sell your losers and let your winners run.

    I was referring to your

    Posted by dallahoo on 21st of Aug 2008 at 01:26 pm

    I was referring to your earlier post where it felt like I was being lectured about the terminolgy of gaps that can be found in every dime-a-dozen TA book

    Hello googool, well if you

    Posted by matt on 20th of Aug 2008 at 08:57 pm

    Hello googool, well if you bought your DIG calls on Friday, then they should be up nicely!  Well in the short term the negative I see is negative divergence viat the 15 min chart of DIG, therefore I would not be surprised to see some kind of pullback.  If you have nice gains, then lock some profits in.  However over time I think DIG will work its way higher, next target is 90 and over time up to the 50 MA in the upper 90's.  So in the short term I could see a little pullback, but then I think it will go higher

    matt, thak you for thinking

    Posted by googool on 20th of Aug 2008 at 09:13 pm

    matt, thak you for thinking of me, I guess the question was asked by another poster, as for myself, I think DIG is coming out of a C wave, and looking good. Too soon to say if we get another abc set or not,

    And yes, I have done double dip at the lows and releasing the second dip at the top, so far so good.

    BTW, take a look at RIG, it's coming out of a triple correction, if it breaks, it may go nicely

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