VisualTrader Forum VisualTrader Forum
forums calendars search
today this week
 
register logon control panel Forum Rules
You are currently browsing as a guest.
You should logon to access more features
A Self-Moderated Community - ALL MEMBERS, PLEASE READ!
Vote for Members who contribute the most to your trading, and help us moderate content within the Forums.


  Current location        Thread information  
VisualTrader Forums
2 Cents on the Market
Shooting Star
Last Activity 7/22/2019 6:40 PM
59 replies, 7644 viewings

Jump to page : 1 2 3
Now viewing page 3 [25 messages per page]
 
back reply
Printer friendly version

^ Top
THELGET

Elite
500100100252525
Posts: 781

Joined: 3/10/2007
Location: Baldwinsville, New York

User Profile
 
Subject : RE: Shooting Star
Posted : 10/17/2007 7:17 PM
Post #1975 - In reply to #1974

Scrappy:

Don't look too hard at my suggestions for today that I posted earlier.

They all went opposite the way I predicted.

You wanted a long Floor Pivot Point suggestion and I have one, Walter Industries in the Industrial Metals and Minerals Sub-Sector. On the daily chart you can see that the WIKS system is calling for a buy at the first resistance level and this predicts a move to the second resistance level at $31.21. Also in favor of WLT on the daily chart is that the three central pivot lines have narrowed this month indicating greater volatility ((and hence a possibly greater move):





The monthly chart shows that WLT has stopped just at the first yearly resistance level and a bounce off of this could send it to the second resistance level at $31.24 which is approximately what we got on the daily chart. Thus there is confirmation in different time frames:






That's my vote. Let's see how it does tomorrow.

Tom Helget





[Edited by THELGET on 10/17/2007 7:22 PM]

Attached file : WALTER INDUSTRIES FLOOR PIVOT BUY.JPG (103KB - 639 downloads)
Attached file : WALTER INDUSTRIES YEARLY CHART.JPG (121KB - 623 downloads)

^ Top


This accout has been deleted
 
Subject : RE: Shooting Star
Posted : 10/17/2007 9:41 PM
Post #1976 - In reply to #1975

Tom,

I agree due to the Hammer in a DownTrend Be small one but a DownTrend. I'll be looking for a uptrend and run Stops Tight. This looks good.



[Edited by on 10/17/2007 9:44 PM]

Attached file : WLT_1.JPG (46KB - 556 downloads)

^ Top
THELGET

Elite
500100100252525
Posts: 781

Joined: 3/10/2007
Location: Baldwinsville, New York

User Profile
 
Subject : RE: Shooting Star
Posted : 10/18/2007 8:28 AM
Post #1977 - In reply to #1976

Scrappy:

It has also bounced off a long term trend line if you look carefully in my EOD chart.

Tom Helget
^ Top


This accout has been deleted
 
Subject : RE: Shooting Star
Posted : 10/18/2007 8:32 AM
Post #1978 - In reply to #1977

Tom,

Yes,I see that now. I previous overlooked the Trend Line. Thank You.
^ Top
THELGET

Elite
500100100252525
Posts: 781

Joined: 3/10/2007
Location: Baldwinsville, New York

User Profile
 
Subject : RE: Shooting Star
Posted : 10/18/2007 8:53 AM
Post #1979 - In reply to #1978

Scrappy:

Like everything else this morning WLT dropped from the sky, but now is just a titch above its daily central pivot at $28.75 as show by the small red line on the attached screen shot:






Your call: Buy or avoid like the plague?

Tom Helget

[Edited by THELGET on 10/18/2007 8:59 AM]

Attached file : WLT INTRADAY.JPG (50KB - 555 downloads)

^ Top
THELGET

Elite
500100100252525
Posts: 781

Joined: 3/10/2007
Location: Baldwinsville, New York

User Profile
 
Subject : RE: Shooting Star
Posted : 10/18/2007 1:04 PM
Post #1980 - In reply to #1979

Scrappy:

In lieu of your professional advice, I went ahead anyways and purchased WLT for $28.91 figuring I was buying on the dip. As I write this WLT has broken through the first resistance level and is on the rise. The attached screen shot is just before this occured. I'm in the money!






Tom Helget

[Edited by THELGET on 10/18/2007 1:06 PM]

Attached file : WLT INTRADAY LATER.JPG (57KB - 572 downloads)

^ Top
THELGET

Elite
500100100252525
Posts: 781

Joined: 3/10/2007
Location: Baldwinsville, New York

User Profile
 
Subject : RE: Shooting Star
Posted : 10/18/2007 8:14 PM
Post #1981 - In reply to #1980

Scrappy:

Well, WLT finished with a gain for me today.

I also found another candidate for tomorrow in the form of OSK. The EOD chart shown side by side with WLT shows striking similarities. Both are bouncing off a trendline and both are near a key Fibonnaci support level. OSK is bouncing off the central pivot point and WLT off its first resistance level. A good move for OSK could take it to $64.62:





The intraday chart for WLT still looks strong holding around the first resistance level today:






The intraday chart for OSK is not as promising bouncing off the central pivot point and turning down:






Also, a look at the yearly OSK chart shows it to be already way over-extended:





Any thoughts?


Tom Helget

[Edited by THELGET on 10/18/2007 8:22 PM]

Attached file : OSK AND WLT SIMILAR LOOKING CHARTS.JPG (138KB - 580 downloads)
Attached file : WLT HOLDS AT THE DAILY FIRST RESISTANCE LEVEL.JPG (73KB - 558 downloads)
Attached file : OSK CAN'T PENETRATE THE CENTRAL PIVOT POINT.JPG (68KB - 562 downloads)
Attached file : OSK WEEKLY CHART.JPG (113KB - 562 downloads)

^ Top
jimb

Elite
50010010025
Posts: 742

Joined: 7/1/2006
Location: Madison, AL 35758

User Profile
 
Subject : RE: Shooting Star
Posted : 10/19/2007 4:40 PM
Post #1982 - In reply to #1981

Tom,

Thank you once again for sharing your analysis and thoughts. I look forward to again reviewing your posted information when I learn more about floor pivots.

Although you likely routinely do it, one thing not mentioned in your posts is an assessment of where the market is going. As you also know, some traders use the market as a go/no-go criterion for their trades, sometimes stated as the market permissions the trade.

I bet the same technique you are using for stocks will also yield similar high quality results when applied to the market(s). And when the market’s and the stock’s information correlate, “Ka Ching” - plus less concern and a higher trading batting average.

Thanks again,

Jim B.

^ Top
THELGET

Elite
500100100252525
Posts: 781

Joined: 3/10/2007
Location: Baldwinsville, New York

User Profile
 
Subject : RE: Shooting Star
Posted : 10/19/2007 6:04 PM
Post #1983 - In reply to #1982

jimb:

No truer words were spoken on this the twentieth anniversary of the big crash!

KABOOM!

I'll post some more ideas when I get out of the hospital. My portfolio seems to have exploded all over me.

Tom Helget
^ Top
julesrulesny

Legend
10010010025
Posts: 335

Joined: 8/15/2007
Location: NY (westchester county)

User Profile
 
Subject : RE: Shooting Star
Posted : 11/8/2009 7:12 PM
Post #4487 - In reply to #1983

Tom,

I was going through old posts from a link that was given in OT pro that lead to this thread..

Check out your Post#1983 in October 2007 - Isn't Hindsight something? b/c ONE year later we had another crash... Just thought that was interesting how you wrote that, nearly exactly ONE year prior to the crash last year.. LOL

jules
Jump to page : 1 2 3
Now viewing page 3 [25 messages per page]
back reply

Legend    Action      Notification  
Administrator
Forum Moderator
Registered User
Unregistered User
E-Mail this thread to a friend
(un)/Freeze thread |
Toggle e-mail notification


Nirvana Systems
For any problems or issues please contact our Webmaster at webmaster@nirvsys.com.