March 2013
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NIHD first target hit + long term trade chart

NIHD hit the first target today (5.15) for a quick 12% gain and as posted earlier, a pullback soon is likely so consider taking some profits if you have not done so yet.  If prices happen to move above T1 tomorrow, there is a thin zone between that level and T2 so we could see [...]

Mar 20, 2013 9:53pm|Categories: Completed Trades - Long|Tags: |Comments Off on NIHD first target hit + long term trade chart

Price Target Methodolgy and Applications

I was asked the question: What are T1, etc... levels and how are they calculated?  Although I've discussed this in the past, as new users come into the site on a daily basis, I figure that I would share my reply for those interested on what T1, T2, etc.. means and how best to utilize the often multiple price targets listed on the trade ideas on Right Side of the Chart.  My reply below: T= target.  So T1= first target, T2= second target, etc...  These target levels are calculated pretty much based on my read of the charts.  I take into account many factors including the magnitude and technical projection of the pattern that the stock is expected to break out of but largely these targets are just levels that I "see" or feel that the stock is likely to hit.  Those levels are usually what I view to be significant support or resistance levels and a large part of where I place these price targets is based on intuition and experience.  Also note that in recent months, I started listing the target levels just below the actual resistance level on longs (above on shorts) in order to help assure a fill when exiting a trade.  It has been my experience that if too many eyes are watching the same level, expecting a stock to reach that level before pulling back, then the Big Boys (institutions, market makers, computerized trading programs, etc..) will often step in early, causing the stock to fall just shy of the expected target. [...]

Mar 20, 2013 5:52pm|Categories: Using RSOTC|Comments Off on Price Target Methodolgy and Applications

NIHD Long Update- New Target Added

For those in the NIHD long trade, please note that I have added a new target before the former first target.  Upon further review of the charts I have revised T1 to the 5.15 level.  The previous targets remain as posted and have been resequenced accordingly (T2-T4).  As this trade is currently up nearly 11% [...]

Mar 20, 2013 3:40pm|Categories: Completed Trades - Long|Tags: |Comments Off on NIHD Long Update- New Target Added

LEN Short Update

I was just asked about the LEN short and in glancing the previous notes/charts, it doesn't appear that I made any stop suggestions.  If you've already stopped out, which you should have if only targeting one of the lower targets, then great.  You can always re-enter for a swing short trade if & when we [...]

Mar 20, 2013 3:25pm|Categories: Completed Trades - Short|Tags: |Comments Off on LEN Short Update

LL Short Update

Irrespective of the recent false breakdown and snap-back into the wedge pattern, LL remains one of the better looking longer-term swing short trades.  Following the breakdown below the primary uptrend line in LL, Lumber Futures (to which LL stock is highly correlated) made what appears to likely be one final thrust to new highs, in [...]

Mar 20, 2013 2:45pm|Categories: Completed Trades - Short, Gold & Commodities|Tags: |Comments Off on LL Short Update

THM long entry triggered

THM did manage to print a 60 minute close above the 1.50 resistance level, therefore, providing an entry at the first tick of the next candlestick (1.54).  As this is such a low-priced (and again, higher risk) stock, every penny & a half accounts for a 1% gain or loss.  Therefore, I would consider using [...]

Mar 20, 2013 10:39am|Categories: Completed Trades - Long, Gold & Commodities|Tags: |Comments Off on THM long entry triggered

THM long setup

THM is a low priced (translation: higher risk/higher return potential) mining stock that looks to be pushing against horizontal resistance here at 1.50.  To help minimize the risk of a false breakout, consider a long entry on a 60 minute close above that level.  Consider a stop under 1.47 if targeting T1 and a stop [...]

Mar 20, 2013 10:07am|Categories: Completed Trades - Long, Gold & Commodities|Tags: |Comments Off on THM long setup
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