tag:blogger.com,1999:blog-1797814728390014124.post9156073303593415131..comments2008-07-11T20:37:09.437-07:00James Kriegerhttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-1797814728390014124.post-30603423168108965352008-07-11T20:37:00.000-07:002008-07-11T20:37:00.000-07:00Yeah, PURE is a total red floater right now, with the red candle sitting outside the UBB. This is on my potential short list for Monday.YngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-18584880331534075742008-07-11T16:15:00.000-07:002008-07-11T16:15:00.000-07:00posted this about PURE on Tims before open:<BR/><BR/>PURE..The 2 words in the pr Brazil and Disinfectant makes me think short soon.13thhttp://www.blogger.com/profile/00880343673432639812noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-12737547248877669842008-07-11T10:54:00.000-07:002008-07-11T10:54:00.000-07:00Shorting a large spike in a downtrending chart can be a high probability trade, if the spike is large enough. I probably wouldn't have shorted PURE myself as I don't think there was enough downside to it. If it had a 2-3 day runup, and was up maybe 50% or more, then I would've shorted it.YngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-982149777236600972008-07-11T10:15:00.000-07:002008-07-11T10:15:00.000-07:00I know the answer already... Gotta' wait till the trend reveals itself. Bear with me, I'm starting to get it. I'm really not too quick here :)dude75noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-20898905819568640672008-07-11T10:12:00.000-07:002008-07-11T10:12:00.000-07:001 more question before I stop pestering & shut up about PURE:<BR/><BR/>When I noticed this right before the close last night, should I have been looking at this as a next morning short or just ignore & move on? Or phrased another way, is a full day spike in an otherwise downtrending chart a strong enough indicator to short the following day?dude75noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-63371754253297475972008-07-11T09:41:00.000-07:002008-07-11T09:41:00.000-07:00I was typing same time as you, you've pretty much answered my question.<BR/>Thanksdude75noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-29411367709744945612008-07-11T09:39:00.000-07:002008-07-11T09:39:00.000-07:00& I was wrong. Shoulda' took the $.10 gain, but small loss, live to fight another...<BR/><BR/>Care to expound on the reasoning behind the 50 & 200 sma? As this is what was missing w/ PURE, I think I can learn something here...<BR/><BR/>(Hindsight is always 20/20, but, my buy-in woulda' been much safer @ 3:30, not 3:50 after the run-up)dude75noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-25484601907157936692008-07-11T09:35:00.000-07:002008-07-11T09:35:00.000-07:00No, I wouldn't buy PURE into the close. It's a spike in a downtrending chart. Too much of a chance of a next-day selloff.<BR/><BR/>It's always better to trade with the trend than against it. Buying breakouts on uptrending charts has a much higher probability of success.YngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-78641706022938538252008-07-11T06:28:00.000-07:002008-07-11T06:28:00.000-07:00I guess by your definition (50 & 200 day sma), you wouldn't. Though I think it's still looking good. We'll see shortly...dude75noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-6293994422811891582008-07-11T06:17:00.000-07:002008-07-11T06:17:00.000-07:00I've been unmasked :Pdude75noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-37201212695275793562008-07-11T06:15:00.000-07:002008-07-11T06:15:00.000-07:00My thoughts exactly re: PDT. Basically PURE right now would be an example of something you'd have played into the close?Darinhttp://www.blogger.com/profile/03944254866543517201noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-38702395794399964942008-07-10T21:48:00.000-07:002008-07-10T21:48:00.000-07:00Hey, dude, I've been successful with it when it comes to buying breakouts into the close. Many good breakouts will gap up the next day. However, I've grown pretty picky about what breakouts I'll buy into the close. The chart needs to be an uptrending chart, such as the 50 day sma is increasing, and the 200 day sma is flat or increasing. The breakout needs to be on good volume, and there shouldn't be any nearby resistance.<BR/><BR/>Also, buying a breakout into the close is important for conserving day-trades. To avoid violating the PDT, I save my day-trades for 13th's prehits, or buying an early morning breakout or morning/afternoon short. If I'm out of day-trades, then I have to stick with buying breakouts or shorting breakdowns into the close until I have my day-trades back.YngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-59855156076388618872008-07-10T20:30:00.000-07:002008-07-10T20:30:00.000-07:00Yng,<BR/>You seem to buy at the close quite a bit to hold overnight. How's that working out for you? Any comments, tips, gotcha's, etc? My largest gain so far has been doing the same, but, I haven't done it often. I guess I'm trying to get comfortable doing it...dude75noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-91534629297869917972008-07-10T16:43:00.000-07:002008-07-10T16:43:00.000-07:00Yeah, MODG came up today in my Stockfetcher scans.<BR/><BR/>I made a scan last month that scans for the candle piercing UBB's and RSI2's after reading your blog. It's a great scan for finding some of those bullish stocks.<BR/><BR/>PGSI...just looked at the chart...big volume yesterday, hardly any volume today.<BR/><BR/>Gotta love those Beacon pumps for short opportunitiesYngvaiMalmstevehttp://www.blogger.com/profile/11922537744815539996noreply@blogger.comtag:blogger.com,1999:blog-1797814728390014124.post-36873011178411845382008-07-10T16:35:00.000-07:002008-07-10T16:35:00.000-07:00Nice on SLAT.<BR/><BR/>I too hopped on a pumper MODG.<BR/>Also this chart has that "manipulated" look beginning to form.<BR/><BR/>TSTR down another 8% and the awesome TRX another 11%.<BR/>love ya Beacon<BR/><BR/>Hope they can work their magic with PGSI, i'll be reserving shares in case.13thhttp://www.blogger.com/profile/00880343673432639812noreply@blogger.com