I guess I will open the blog

fslr is taking off today may due a follow through of tsl


David S

David,

you beat me to the punch! thankfully i jumped on this one early today. broke the rules, but hey, you need to know when to do it.

TSL was the warning shot. This is the big boom.

Good morning, All!

BNI made a nice move yesterday on account of W. Buffet's interest in the stock. It could be setting at a new support level if it can hold this gap.

Amy

Hey Brett:
what do you think about jumping in to VMC it is coming out of the closet. the only thing I am afraid of is this AA earnings could really hurt the metal and material sector.

Jeff would it be smart to anticipate, or how would you play it?

Personally, i think VMC has taken way too long in the triangle. It looks like good volume today, and it could bounce, but i took it off my list.

On VMC
You could draw a symmm triangle using the top and bottom of that candle on 2/21. It looks like it is breaking out. Tha t candle is 25 points. There is more volume already at 10:57 than the last 2 days.
VMC has used the 30 day as support since Aug '06. Looks like a good RR to me. I am following this one today.
Anybody else long RTP...continues with a great move. Also, putting BIDU on my watch list. It may be trying to make a double bottom.
2 more: GS and MA trying to confirm change in intermediate trends.

Jamie

zzzzzzzzzzzzzzzzzz................

look at Bucy it is starting to run too!

I agree with Brett on VMC. One of my trading rules is to avoid symmetrical triangles that break out near the apex of the triangle. The pattern is not as reliable at this point since a small variation in price can imply a breakout. I am sure VMC will take of now that I have posted this! Here is a short blurb on this subject.
"


1. Occurrence of a Breakout - Technical analysts pay close attention to how long the triangle takes to develop to its apex. The general rule, as explained by Murphy, is that prices should break out - clearly penetrate one of the trendlines - somewhere between three-quarters and two-thirds of the horizontal width of the formation.6 The break out, in other words, should occur well before the pattern reaches the apex of the triangle. . Adherence to this rule is strongly advised by Yager, She adds that the closer the breakout occurs to the apex the higher the risk of a false breakout.


To take the measurement, begin by drawing the two converging trendlines. Measure the length of the triangle from its base to the apex. Next, plot the distance along the horizontal width of the pattern where the breakout should take place. If prices remain within the trendlines beyond the three-quarters point of the triangle, technical analysts will approach the triangle with caution. In much the same manner as Yager, Murphy warns that if prices don't breakout of the trendlines before that point, the triangle "begins to lose its potency and prices will simply drift out beyond the apex with no surge in either direction".
Happy trading.

Sean M.
CA