Thanks Steve I stayed off it.

Overbought. Slight MACD divergence. Lower volumes, daily doji forming.

Not piercing upper Bollinger yet, but has over a 3:1 risk/reward ratio using 9MA as first target.

Question: Is it valid to enter near end of trading day if doji holds up or do you generally wait until open?

Feedback welcome.

Answer: I prefer to have a trigger to short if you are new here.  Do you understand? 

I've been in JO quite some time now, half is already off when it hit the 200MA on the daily. Thinking of a target for the rest, feeling a little uncertain but one thing I noticed is the symmetry of the recent move the  last 2 weeks is very near the run it made back in Sept/Oct around $4.10 in length. Right now we are right around $4 or nearing it.

Wondering how to weight/consider this info? Any advice highly appreciated.

Got in at 52.81 off that 5 min bull flag it tagged the 5MA, 9MA and 20MA nearly all at the same time. 52.80 was also the Daily 9MA. I took half off at 54-ish approaching recent highs. Going to tuck under the 5min 20MA now with the rest. 

I looked for something wrong when I saw this... reasons not to do it and couldn't find any. Thanks again.

I'm asking from a pure learning perspective and do not have the short trade on NBIX.  I'm seeing a double bottom on the daily with divergence and an oversold condition on the RSI....what am I missing that makes this an objective short entry under 32.30?

Thanks in advance.

Took some off when GDX hit its 9 day MA, took a bit more on its way to the 20MA and will likely go flat if and when it gets there. Thanks for the comments.

Am I crazy? GDX and other miners looking divergent on nearly all timeframes, near upper bollinger or above it, overbought in timeframes up to 30 min, 30 very close.

Feedback is welcome, my first position is at 3.34. Apologize if it's frowned upon to post entry prices I figured I'd just be as transparent as possible.

I started stalking it and caught it at 16.74, so thank you very much. Took half off at 16.86 when it slowed down I did not really have a disciplined reason beyond wanting to capture profits.

Managing the other half, some ideas on targets?

Daily 5sma is at 16.60 but since took half off already thinking the daily 9SMA (15.56)with a trailing stop above the 15 min 20sma (17.44) Wanna give it some room since daily is still so overextended.

What I don't really have a good feel for is when you get parabolic moves up like GDX, NEM , AEM etc....is the move down just as parabolic? I think I recall steve in a newsletter stating it can be choppy so wanna account for that as we trail.

Thanks again.

I'd love to sit here and say i caught it but I did not. All I saw was gap down and straight up with no meaningful pattern for an entry.

If you're looking at the 15 min yes I see MACD divergence if you include aftermarket hours. I'm learning, but would rather sit on my hands if I'm not sure...just felt like a parabolic move and gambling that first 25 minutes. 

Gonna see if I can get a pullback then ride it to 5 and 9 SMAs if I get in. 

Thanks Steve

As noted in my post I noticed the lack of divergence on MACD but wasn't sure how to weight that relative to other characteristics in the charts I was observing, thanks very much. Cheap lesson....I'll keep an eye on it. I'm trying to hone my eye so every bit helps, really appreciate it.

Cheers,

Joe

Hello BPT Community,

First I wanted to say thanks to everyone for the sharing culture on this board I have learned a lot trying to reverse engineer your thoughts each day. I'm grateful. RTM trades tend to suit my personality so I figured I'd try and get better at it. Toward that end, thought I'd share an idea and have you all poke holes in it.

I took a base TradeStation scan that looks for doji hammers and added an RSI requirement to the scan <30. I also had some stock price range and volume criteria as well so it's liquid.

CUKkinda popped from the list. Rationale:

• The weekly chart is oversold with RSI 26.24 and the tail of the doji hammer pierced the 200SMA but it closed above it. I interpret that to mean it held up, could be wrong.

Drilling Down....

• The daily is below its Bollinger band using default settings
• The daily is also oversold at RSI 27.29. First time this thing has been oversold on the daily since August and it bounced pretty good there.
• I don't see any symmetry problems but extra eyes would be great.
• The daily also has a nice gap above, size is $1.51.
• MACD is evenish to barely divergent which i didn't like, so would love feedback on how to weight that. I'm thinking reduce the share size a bit and if it runs tag it again on a pullback.
• The 5SMA is $2.29 away
• The 9SMA is $4.17 away

Drilling Down...

• I did not attach 60min and 30 min but you can see some triangular consolidation taking place. 5 and 9 SMAs tucked under current price on the 30 and 15 min intervals
• On the 60 min its above the 5 and 9 SMAs as well and approaching the 20 .69 cents away

I'd love some feedback on the approach. In terms of targets I was thinking I'd lay down a fib using the 2/4 high and today's low and take some off at 50% then trail. Worked great on the SPY bounce today I was stunned at how accurate it was. I'd take some off at the gap fill too as I do like to scale out.

What I'm struggling with is the CUKentry and how to deal with any gaps. I'm thinking gap up would be tough to just dive in, maybe hope it fills and look for a reversal. Gap down the same.

More aggressive would look like getting in at open and just white knuckling the weekly 200SMA at 43.46.

I have not checked news or earnings gonna do that now. I don't even know what the company is but if it's Carnival Cruise lines I gotta chuckle at the serendipity, getting on one of their boats Friday in Long Beach. If i get in and it stops out I promise I'll still be nice to the crew :-)

Cheers and thanks in advance.

Joe