Showing posts with label price patterns. Show all posts
Showing posts with label price patterns. Show all posts

Wednesday, October 22, 2008

Stay sharp, Big Tuna

Long-term trends and price patterns are always more reliable and significant than those in the short-term, and since I'm not a day trader, I only get to that granularity when pinpointing entry points. In either case, this (below) is something to consider, perhaps for a gamble.

If you don't like the risk (or have the luxury/cojones to day trade at work), then during times of vastly limited trading opportunities - paper trade - and keep your mind/trading skills sharp for when it's time to jump back in... because it will happen quick.
(click chart to enlarge)

Tuesday, September 23, 2008

Some long-term price patterns continue to work

I suggested a couple of weeks ago that when long-term support (>2 yrs) was breached, prepare for a re-test of the underside of the same trendline before continuing lower.
Granted, there were roughly two dozen extenuating circumstances since then that might negate such patterns from coming to fruition; however, it looks like despite all that, some price patterns may still hold - albeit in a quicker and choppier manner than I imagined. This applies to several oil, steel, ag, coal, etc stocks.
ACI and POT are other great examples.