RE: Watchlist - Traders method
(2014-07-12, 02:44 PM)isatrader Wrote:(2014-07-12, 02:35 PM)theory6453 Wrote: Watchlist alert: Strong institutional buying on SHPG & WLB.
TRW also had a nice spike in volume (5x).
SHPG looks quite extended in Stage 2B as would need a 33% pullback to get back to it's 30 week MA and has been in Stage 2 for a year now. So no where near any of the Weinstein entry points currently for the trader or investor method and looking quite parabolic.
Yes, I certainly agree. I highlighted it b/c the 30 wma is moving up at a very sharp angle and the recent volume has been overwhelmingly positive. It's nowhere near any type of buy point as of right now, but a pullback in average-to-below average volume (like the one that occurred in Feb-May of this year) could potentially make for a nice entry point.
This was just from my volume scan and I have not researched the sector/sub-group as of yet, so I apologize if my posting it was premature. Was just something that caught my eye.
I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over again in my life. And that is why I succeed. - Michael Jordan