five40
23 posts
msg #56334
- Ignore five40
modified |
11/2/2007 2:58:55 PM
I have been watching and trading a few hammers, especially on pullbacks. Looking for swing range opportunities with timeframe of days to weeks. I look for increased volume on the day the hammer forms with the idea that this shakes out lots of sellers.
ADBL is off the charts. Thinking of entering later today with about .50 cent stop loss. I see support at $12.30.
I'm not sure if there is enough upside though. I think I see a decent uptrend from August until now.
Any feedback for a newbie?
PS- How do you guys get the chart images into a post?
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fokane
74 posts
msg #56372
- Ignore fokane |
11/3/2007 10:31:23 AM
Open SF 2.0 and select 'Chart'.
Enter the ticker and then you can use the options 'Format' etc. to
customize.
Then take a snapshot using the 'Snapshot' menu and 'Save in favourites'.
Then when adding a post, select a saved chart at the bottom. The most
recent will be top in the list.
Select 'Preview Message' to verify its ok.
I was going to add the ADBL chart but you can do that to try out the above. Add the 50MA on the chart because you can see that the it acted as support for the open. I wouldnt be sure about this because of the long range hammer... i try and use close stops and something like that would turn me off the stock, but that's just my preference.
I wonder if you could backtest your hammer strategy, see how it does?
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TheRumpledOne
6,407 posts
msg #56374
- Ignore TheRumpledOne
modified |
11/3/2007 11:05:37 AM
Looks like you have a 50% or better chance at making 1% or more.
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five40
23 posts
msg #56475
- Ignore five40 |
11/6/2007 11:29:13 AM
Well the odds were in my favor I guess. I bought 300 shares @ $12.72. Price is at $14 right now.
When to get out? This is the part I have trouble with.
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karennma
8,057 posts
msg #56477
- Ignore karennma |
11/6/2007 11:37:17 AM
you've got profit?
take it !!
:>)
$$$$$
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petrolpeter
439 posts
msg #56481
- Ignore petrolpeter |
11/6/2007 12:20:43 PM
Right now you have a 10.06% prophet,good trading.The 2 year chart shows a huge reverse head and shoulders but also resistance at the top of it.Six month chart looks like a beginning breakout and if momentum traders see this they may take it and volume will pick up to the upside.If there is no interest that way,holders may be asking themselves the same question as yourself 'should I end it yet?' and the price will fade.Lets see what transpires.
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karennma
8,057 posts
msg #56700
- Ignore karennma |
11/12/2007 2:36:24 PM
five40
five40 11/6/2007 11:29:13 AM
Well the odds were in my favor I guess. I bought 300 shares @ $12.72. Price is at $14 right now.
When to get out? This is the part I have trouble with.
karennma
- message 11/6/2007 11:37:17 AM
you've got profit?
take it !!
:>)
$$$$$
=======================================================
I HOPE you took your profits.
There's nothing worse than sitting in a market like this waiting for a long position to go back up.
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