Blue Chip Bulldog - Latest Comments in Trades for 10/23/09

Re: Trades for 10/23/09

Ashok — Mon, 26 Oct 2009 00:57:27 -0000

Hey Dutch.....if they need someone with a heavy Indian accent.....you know who to call...

Re: Trades for 10/23/09

Guest — Mon, 26 Oct 2009 00:02:09 -0000

wow cool

Re: Trades for 10/23/09

Brinkley — Sun, 25 Oct 2009 23:31:00 -0000

NEW POST

Re: Trades for 10/23/09

chaunceyherbie — Sun, 25 Oct 2009 22:33:17 -0000

Book 'em Danno! Have fun Dutch.

Re: Trades for 10/23/09

chaunceyherbie — Sun, 25 Oct 2009 22:31:06 -0000

Chart Pattern reading a methodology? Not.

“Failures in 1991 were a third of what they were in 2007. Trading chart patterns and making a profit has become substantially more difficult.”
Thomas N. Bulkowski, May 2009 Technical Analysis of Stocks and Commodoties Magazine

“Since several people have tried to reproduce the statistics in my previous book,
Encylopedia of Chart Patterns, I thought it would be a good idea to detail exactly how I came up with the numbers for this book. Much of the methodology changed between books. Thus, statistical comparisons between the two books may not be valid. Below is the methodology masquerading as a glossary of terms.”
Thomas N. Bulkowski, Trading Classic Chart Patterns

There is no methodology in his glossary of terms. He actually used the word “masquerading”! I couldn’t make this stuff up folks. Its too rich, too deep (up around my knees).

Having a methodology is core to having a chance at surviving and succeeding in stock trading, imho.

Re: Trades for 10/23/09

Doji Girl — Sun, 25 Oct 2009 22:25:00 -0000

Sounds like fun to me. Break a leg!

Re: Trades for 10/23/09

facesincabs — Sun, 25 Oct 2009 22:24:03 -0000

with the failure of Capmark over the weekend ... I am additionally watching the financials more closely on Monday ...

http://www.bloomberg.com/news/worldwide/

I like Dr. Brett as he can be very helpful ... but I don't trade like him so I do not follow his trades ...

Re: Trades for 10/23/09

facesincabs — Sun, 25 Oct 2009 22:24:02 -0000

(duplicate post)

Re: Trades for 10/23/09

Dutch — Sun, 25 Oct 2009 22:20:49 -0000

No trades for me the next two days. Hollywood calls and I'll be back in uniform pretending to be a cop for the tv show "Trauma". I'll make a huge two day pay check of $128 as an extra. Should be fun! Maybe it'll lead to more work.

Re: Trades for 10/23/09

Guest — Sun, 25 Oct 2009 22:09:08 -0000

You are not blind.

Re: Trades for 10/23/09

Deej — Sun, 25 Oct 2009 21:34:57 -0000

smart. I was waching rsi-7 on usd/jpy and its in overbought state

Re: Trades for 10/23/09

ropey — Sun, 25 Oct 2009 21:26:42 -0000

Great stuff thanks for the update. Yes i kinda had my confidence whacked a little last week, was doing ok up till then but had a weekend to mull over my strategy so going to go back to more higher probability lower reward plays till this market clearly rolls over. I may however have a little nibble on a run into earnings tomorrow on either of those plays but will be out before the close. Maybe a bunch of momo chasers jacking it up quickly. I see some OI way out ~500 but could be just a safety hedge, i think BIDU is pricing roughly a $40 move and seeing it around 380-390 after earnings would not surprise me.

Re: Trades for 10/23/09

jayinasia — Sun, 25 Oct 2009 20:57:52 -0000

FWIW, I've hedged my short Yen trade this morning @ ~92. I've posted my expectation of some weakness early this week over the weekend. Let's see how today plays out.

Re: Trades for 10/23/09

jayinasia — Sun, 25 Oct 2009 20:22:27 -0000

I don't really understand why everyone has to be right in predicting the future all the time. IMO that was a H/S pattern and yes it failed but so what? You went short went it broke and then when it was invalidated you turned and went long (if you knew that failed patterns give you some of the strongest moves). Are we really at a point we have to nail every turn to the penny? I guess this is what the internet has given us. The only way traders can "differentiate" themselves is to be a prophet.

Re: Trades for 10/23/09

denmo83 — Sun, 25 Oct 2009 20:21:32 -0000

Just to clarify, did you really just imply that paper trading penny stocks and /ES is stressful? TIA.

Re: Trades for 10/23/09

facesincabs — Sun, 25 Oct 2009 19:50:14 -0000

yup ... I'm not concerned that ... I can only live in the present ...

Re: Trades for 10/23/09

humble1 (tm) — Sun, 25 Oct 2009 19:43:55 -0000

"not concerned about that" LOL

not concerned about a perfect, recent major example which proves my point
and cost bears/shorts lots of money, especially in puts.

Re: Trades for 10/23/09

facesincabs — Sun, 25 Oct 2009 19:39:51 -0000

not concerned about that ... that was also a different pattern (e.g., you are comparing apples and oranges) ...

it is also interesting to me that you have time to post all afternoon when you stated that you did not have time for B's comment ...

Re: Trades for 10/23/09

humble1 (tm) — Sun, 25 Oct 2009 19:37:22 -0000

how that one work out earlier this year?

Re: Trades for 10/23/09

facesincabs — Sun, 25 Oct 2009 19:30:52 -0000

head and shoulders are reversal patterns ... B's correct about that ...

http://tinyurl.com/29zesy (so you don't have to take my word for it ... here is a trustworthy reference)

I find it interesting that you cannot admit when you are wrong about that ... (e.g., be humble)

Re: Trades for 10/23/09

Brinkley — Sun, 25 Oct 2009 18:46:51 -0000

A projected upside target would be in the $146 range, give or take a few points. IF that is met, the stock would still almost certainly pull back and consolidate before it gets there.

Re: Trades for 10/23/09

Tazman — Sun, 25 Oct 2009 18:25:06 -0000

Moo....With Capmark news.....CIT close.....is this the issue you were worried about for the next leg down?

http://www.bloomberg.com/ap...

Both in answering the question and in his prepared text, Mr. Bernanke again beseeched Congress to act soon to give regulators “resolution authority” to cope with the imminent collapse of a big financial firm other than a bank, and to address other vulnerabilities in the regulatory regime exposed during the crisis.

Re: Trades for 10/23/09

Guest — Sun, 25 Oct 2009 18:21:09 -0000

Cool story.

Re: Trades for 10/23/09

aviat72 — Sun, 25 Oct 2009 18:12:19 -0000

Yup, as long as we do not have a major collapse I too expect a more upward movement before the consolidation. What I wanted to get a sense was historically, how often do we have major mega caps continue to run to after all time highs if the broad market is weak. The summer of 2007 saw the four horsemen truly run to great heights while the broad market breadth was weakening. Do you see this as a similar environment?

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If the April 2007 pattern is any indication, we might run up another 10% to 130 before consolidating between 120-130. The 10% extension of the all time high to low is around 125. The 25% extension of the closing high is around 130.

On the downside there is the previous all time closing high around 107, the gap open at 110 and the previous intra-day high at 113-114 which should provide ample support.

I am rethinking my current position because I am not sure I can tolerate the draw-down which will occur as it runs up, before the theta of my short option positions kick in. My BE at November expiration is near 126 but the profits are going to kick in only in after two weeks.

The one big wild-card with Amazon is the sales tax/internet issue. It will be a huge multiple deflater when it hits.

Re: Trades for 10/23/09

Tazman — Sun, 25 Oct 2009 17:46:15 -0000

A new ETF is being introduced to the investing community by van Eck Global, the same corporation that is behind a number of ETFs, including GDX, the Gold Miners ETF. This ETF (symbol GDXJ) will represent 38 junior mining and exploration companies that have mining potential. Expected by end of year...

Company - Ticker symbol(s) - Percentage of ETF - Website

Alamos Gold Inc. AGI.TO; 5.11%; www.alamosgold.com
Allied Nevada Gold Corp. ANV.A; 2.22%; www.alliednevada.com
Andean Resources Ltd. AND.TO; AND.ASX; 2.99%; www.andean.com.au
Aurizon Mines Ltd. AZK; ARZ.TO; 3.52%; www.aurizon.com
Avoca Resources Ltd. AVO.AX; 2.06%; www.avocaresources.com.au
Avocet Mining PLC. AVM.L; 0.88%; www.avocet.co.uk
Coeur d'Alene Mines Corp. CDE; CDM.TO; 6.2%; www.coeur.com
Colossus Minerals Inc. CSI.TO; 0.89%; www.colossusminerals.com
Detour Gold Corp. DGC.TO; 1.38%; www.detourgold.com
Dominion Mining Ltd DOM.AX; 1.33%; www.dml.com.au
European Goldfields Ltd. EGU.TO; 2.13%; www.egoldfields.com
Fronteer Development Group Inc. FRG; FRG.TO; 2.37%; www.fronteergroup.com
Gabriel Resources Ltd. GBU.TO; 1.55; www.gabrielresources.com
Gammon Gold Inc. GRS; GAM.TO; 4.32%; www.gammongold.com
Gold Wheaton Gold Corp. GLW.V; 1.07%; www.goldwheaton.com
Golden Star Resources Ltd. GSS; GSC.TO; 3.31%; www.gsr.com
Great Basin Gold Ltd. GBG; GBG.TO; 2.54%; www.greatbasingold.com
Hecla Mining Co. HL; 3.8%; www.hecla-mining.com
Jaguar Mining Inc. JAG.TO; 3.67%; www.jaguarmining.com
Kingsgate Consolidated Ltd. KCN.AX; 2.96%; www.kingsgate.com.au
Kirkland Lake Gold Inc. KGI.TO; 2.41%; www.klgold.com
Lake Shore Gold Corp. LSG.TO; 1.78%; www.lsgold.com
Medusa Mining Ltd. MML.AX; 1.22%; www.medusamining.com.au
Lingbao Gold Co Ltd. 3330. HK; 0.52; www.lbgold.com
Minefinders Corp Ltd. MFN; MFL.TO; 2.79%; www.minefinders.com
New Gold Inc. NGD; NGD.TO; 6.13%; www.newgoldinc.com
Northgate Minerals Corp. NXG; NXG.TO; 3.11%; www.northgateminerals.com
Novagold Resources Inc. NG; NG.TO; 2.74%; www.novagold.com
Real Gold Mining Ltd. 0246. HK; 0.80%; www.realgoldmining.com
Romarco Minerals Inc. R.V; 1.69%; www.romarco.com
Rubicon Minerals Corp. RBY; RMX.TO; 2.17% www.rubiconminerals.com
San Gold Corp. SGR.V; 3.73%; www.sangoldcorp.com
Semafo Inc. SMF.TO; 2.71%; www.semafo.com
Silver Standard Resources Inc. SSRI; SSO.TO; 6.7%; www.silverstandard.com
SilverCorp Metals Inc. SVM; SVM.TO; 3.10%; www.silvercorpmetals.com
St Barbara Ltd. SBM.AX; 1.6%; www.stbarbara.com.au
US Gold Corp. UXG; UXG.TO; 1.24%; www.usgold.com
Ventana Gold Corp. VEN.TO; 1.21% www.ventanagold.com