ManyPeaks.com

Howdy.
I must apologize for not posting regularly for the past week. No excuses will be foisted upon my readers.
In this time, my accounts took a nice little dip along with the major indicies. My trading was a bit below average.. I didn’t do enough profit-taking in my longs when the buyers were tripping over […]

Successful technical trading is all about using price patterns to get into the minds of other traders.. and using estimates of their emotions — fear, greed, boredome, excitement — to profit.
Usually, a sharp move in a stock in the days just before a relevant news event means traders are pricing in a certain expectation. Typically, […]

Aside from a morning buying panic in Gold — that morphed into a nasty reversal by 4pm — it was a slow day in the markets as we await the Fed announcement at 2:15 tomorrow.
Realmoney.com is reporting that QQQQ had it’s lowest volume day since December 31st, 2004 !!
For brevity, just read Charles […]

This afternoon, my UVa friends spouted off some lively email discussion regarding our team’s upcoming Music City Bowl game against Minnesota on December 30. (Since this is a family-friendly site, I’ll do no cutting nor pasting)
This article in the Minneapolis newspaper belittling Virginia was the catalyst for the 30 or so emails we bounced around […]

No, not one of the many great old friends that I’ve met back up with this year.. this friend is just a junky Amex stock that I’m “renting.”
This isn’t the first time I’ve gotten involved in these shares. But this time I’ve caught a move closer to $3 than $1. Letting it ride […]

As the market deteriorates a little more, I’m down to 37% long. Though we’re at the low end of this week’s range, this is the 3rd trip down there (Monday, Wednesday, today).. and often the 3rd time is the charm as far as breaking thru a support/resistance level.
I’ve pared some positions, like ARXX, EXPE […]

Here’s one more I just found.. similar pattern, nice volume, and in an Energy sector that’s acting - well - energetic.
Long TXCO

The failed CTRP trade doesn’t sway my belief in the awesome risk/reward potential in these trend change patterns that I bring up so often.
We’re now in another stock with a similar chart setup. (instead of sitting around hoping CTRP comes back)
Long BEXP, an oil stock

With my Expedia shares doing well, I thought the time might be right to own their Chinese counterpart, CTRP.
This daily chart shows the potential trend change that I based my purchase on.. those late November (55-ish) lows could easily have been the 1st set of higher lows. Thursday’s big up day appeared to […]

Yesterday produced the hottest & heaviest upside action in a long time.
The market began the day with a “professional gap” up.. look at the IWM chart below to see how that morning gap never even considered filling. The strong buying continued all day long.
Stocks rising 50 cents or more numbered about 1000.. about […]