(2019-08-05, 10:29 PM)drasp Wrote: hello guys, I'm new here. I wanted to share a couple breakouts I like, along w/ good earnings. I know that fundamentals don't matter w/ weinstein but it never hurts.
Nice breakouts, but not a good time with the wider markets being the way they are.
With the various gaps up and down in MEDP I'd wonder if that were a bit risky?
MEDP does have a distribution looking chop on its way to the 30MA, w increasing volume on the drops. I remember one of stans sayings in his books where he says "a stage 3 can have a powerful rally after a breakout." So I just took a small position w/ really tight stops. A gamble I guess.
(2019-08-05, 10:29 PM)drasp Wrote: hello guys, I'm new here. I wanted to share a couple breakouts I like, along w/ good earnings. I know that fundamentals don't matter w/ weinstein but it never hurts.
Nice breakouts, but not a good time with the wider markets being the way they are.
With the various gaps up and down in MEDP I'd wonder if that were a bit risky?
MEDP does have a distribution looking chop on its way to the 30MA, w increasing volume on the drops. I remember one of stans sayings in his books where he says "a stage 3 can have a powerful rally after a breakout." So I just took a small position w/ really tight stops. A gamble I guess.
I hope it works out. However, over the last few days there have been some brutal moves down, e.g. see today's P&F breakdowns, which you are fighting against.  Point to note, careful about what I say, as my performance has been less then stellar.  However, it can be hard work during an uptrend and at present there has been a lot of selling for a few days.
Looking at the particular chart the gaps up at 1 year ago and now are nice, but what of the gap down in March? Just a personal preference but I'm wary of gaps.
(2019-08-05, 10:15 PM)isatrader Wrote: For the watchlist from Mondays scans, which again was dominated by gold stocks today - AKG, BLDP.TO, CD.V, EXK, FSM, GFI, SA, SAND, VGZ
Could be a very ugly August with this US / China trade war thing. Basic Materials sector was pushed up by gold , mining stocks was the only area that showed strength.
(2019-08-01, 12:30 PM)shaunattwood Wrote: I recommended Twitter a few months ago TWTR which has now done a continuation break out on high volume
however MACD indicator for the US markets in general has done a bearish crossover, so things might slip and slide a bit
re-weed companies, looking to layer into CRON & TGOD at these levels in advance of a year end rally
Hey Shaun,Â
Now looks like TGOD has broken out - I am looking to buy on the pull back. What are your thoughts?
My daily scans remain littered with Gold and Silver stocks too numerous to bother posting, as they continue to make new highs and continuation moves. Low risk entry points have been hard to come by though, unless you managed to catch the continuation breakout in late May / early June in Gold, after the pullback to the 30 week MA. It is a good example of how fast Stage 2 continuation breakouts can move if there's strong volume coming into a sector., and what is known in the method as the "Forest to the Trees" approach. See page 75 in the book.
Attached is the Gold / S&P 500 ratio for a long term view of whether the relationship is tipping toward gold over stocks. If it completes the current monthly new high above the 30 month MA, it will be the first breakout since the gold bear began in 2012.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
(2019-08-07, 11:31 PM)isatrader Wrote: My daily scans remain littered with Gold and Silver stocks too numerous to bother posting, as they continue to make new highs and continuation moves. Low risk entry points have been hard to come by though, unless you managed to catch the continuation breakout in late May / early June in Gold, after the pullback to the 30 week MA. It is a good example of how fast Stage 2 continuation breakouts can move if there's strong volume coming into a sector., and what is known in the method as the "Forest to the Trees" approach. See page 75 in the book.
Attached is the Gold / S&P 500 ratio for a long term view of whether the relationship is tipping toward gold over stocks. If it completes the current monthly new high above the 30 month MA, it will be the first breakout since the gold bear began in 2012.
(This post was last modified: 2019-08-08, 09:30 PM by briansmith456.)
RE: US Stocks and ETFs - Watchlist and Discussion
(2019-08-07, 11:31 PM)isatrader Wrote: My daily scans remain littered with Gold and Silver stocks too numerous to bother posting, as they continue to make new highs and continuation moves. Low risk entry points have been hard to come by though, unless you managed to catch the continuation breakout in late May / early June in Gold, after the pullback to the 30 week MA. It is a good example of how fast Stage 2 continuation breakouts can move if there's strong volume coming into a sector., and what is known in the method as the "Forest to the Trees" approach. See page 75 in the book.
Attached is the Gold / S&P 500 ratio for a long term view of whether the relationship is tipping toward gold over stocks. If it completes the current monthly new high above the 30 month MA, it will be the first breakout since the gold bear began in 2012.
Lots of these tiny miners making big moves daily (caught one for 30% today-BBB.V) but like you say high risk entry for many of them as most very extended from their 10 sma on the weekly. I am hoping very much that GDX and GDXJ will soon start to pull back some towards their weekly 10 sma to give us a chance to get into some names at lower risk. Maybe they just keep ripping higher...
For interest sake my friend uses only Elliott wave analysis and based on his analysis he sees GDX going to about 30.50 roughly and then pulling back to around 26. Let's see if his voodoo does its thing.
