What a Pleasant Surprise!

I guess I can say I am a happy camper this morning. That's why I decided to take the morning off and write this post from my office at home. I think it is safe to say that GDP was positive this morning and the market has rallied nicely. What has really made my day is ATI (I say this in hoping that I won't jinx it before days end). I took a trade at the base of the handle of the cup and handle that was forming, to ride it up to resistance and see if it would break. Apparently it broke this morning and at the moment has it's head above resistance. If this stock was not on your radar...place it there. If it closes above resistance this confirms the pattern and carries a 30 point price target over the next 7 months. That is, if it the company isn't bought out first.

Keep an eye on metals, materials and oil today. These will be the big bread winners today. I am going to go back to bed :) I will be back in the office in a couple hours.

What else do you guys have on the radar. Someone throw me an awesome trade. Let's see how many piles of money we can pick up today.

I'm wathing VLO and SU for an entry. Thanks for your thoughts. Have a good nap.

Sarah

LUFK appears to be breaking out of its triangle. We'll have to see about volume, but I see a 10 point target in a few weeks. Jan 07 calls have large spreads though.

Watchlist of stocks:
FLR
CEDC
CCRT
COH
LAMR
WMB

Danuta

ATI's move was beautiful today... it was great to be in the trade. I know we're suppose to keep emotions out of trading....but gosh...it does feel good to be in a trade when a stock has a dramatic surge upwards.

Thanks for waking up early this morning to give us your spin on ATI's future move.

Danuta

I DID give you an awesome trade yesterday...AVR!

How about a bear pennant breakdown on MOH? Check out the flagpole on that baby!

How bout SGR and SPG

Does anyone see a possible entry on AAPL? I missed it earlier and think it has a ways to go.

Sarah

BTU is finally breaking higher and can REALLY run after this. I love this one.

Also, MLM is breaking out of a triangle. originally i played an ascending triangle breakout. Now it seems like it's breaking out of a symmetrical triangle. Who cares? The bottom line is it's going up!

Danuta -

Where did you see Jeff talk about ATI this morning? Was that in one of the trading rooms? I am on the Success Magazine version of Investools website. I supposedly have access to everything the Investools site has. But, I think there are differences.

Thank you,

B

How about:

EGN (cup and handle beginning in OCT 2005)

ARA
GLDN


Thank you,

B

B..
The info about ATI was taken from Jeff's blog this morning titled
"What a pleasant surprise". He referred to the cup and handle formation and future outlook if ATI maintained its break above resistance at the close of the day.
Which it did, positioning future moves to 30 pts.

I had been in this trade but had missed the cup and handle formation. Reading Jeff's quick analysis helped to clarify the stock's price pattern.

Danuta

ACO ascending triangle

MikeH

XMSR shows a double bottom with a possible 4 point target on a very cheap stock with very cheap options.

LOW - Symm. triangle
DDS - Bull Flag
STR - Symm. triangle bkout
BGP - Bull flag
TKR - Symm. triangle
TGT - Symm. triangle
WTSLA - Bull Flag bkout

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About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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