Sue

I am intrested in what you are using on TOS.. Give me your email and please and thaks for the help.

Bob

I like the REE and RTR good way to make it simple I have the habit of letting the trades run to long and give back more profits than I need. Something to work on today.

Brett

Thanks for the heads up onthe trade will check this out in more detail.

I am here just on the phone prospecting for new Clients to buy homes and looking for sellers.. Fun stuff..

Jeff

Good call on the song gets me pumped up and back to work yeah!!!

Dale,

SPGRLG@YAHOO.COM

Sue

Jeff,

Jeeeesh, I just went to hell and back to get the blog on track...LOL...you come out singing...!!!!

Love AC/DC....

Ok, I'm trying to understand REE...tell me if I'm catching on. I'm looking at NUE. It looks like it hit at REE of 55.74 today- also retesting new support. My target would be approx. 63.77 - next resistance, but under the measurement of the widest part of the triangle which would set it at 64.32?

Jeff-

I'm trying to get caught up on the blog after being gone several days (whew! what an adventure). I'm trying to view the Garmin video from a couple posts back but getting nothing. The video doesn't show. Is it still there and working?

Sue

It is sent and should be in your inbox and thanks agian..

Matt
I had trouble viewing it using Firefox, but it worked with Internet Explorer.

I think DIOD from jeff's video looks like a good entry here. People taking profits after the new high. The buying volume was interesting and It is flagging.

If you are a risk taker, you could take it here and wait for a bounce of the lows, or wait until the end of the day or support bounce.

Tim,

I have a target set on VMC, but the price hasn't hit it. Also, I am trying to move my stop loss, so I am triggered out of a trade instead of calling a top/bottom. I am okay giving back a little to see if the stock will continue to go down. I do struggle with seeing a big move down and not taking profits, but I am working through that. I have a plan, and am trying to trade that plan. Even if it means I may give up some of the profits on VMC, I know staying disciplined will be the ingredient for success. It sounds like you too had a plan. You stuck with it. That is all we can do...have faith in the plan and continue to learn, change and grow.

Brett - don't know at what point you brought up VAR. I've got it on my watch list from Jeff's thread on 9/11. Last ticker from his second watch list post.

If it was before than you're more than welcome to take the credit.

See Jeff? I actually did write them down. We're all hawkeyeing you.

Kim

I have a question on the charts. Has anybody noticed that the prophet charts on TOS don't appear to be "scaled" quite the same as when you pull them up directly from IT? I have noticed this several times now, but most recently when looking at today's discussion of DRYS and the trendline drawn over the past 6 months. I don't know if I have a setting messed up somewhere or if that is just the way it is. Anybody?

I don't know where Jeff's threads can be viewed at. I would also like to know if his recomendations are posted in the feed of option addict page or if they are elsewhere. AnyOne got help onthis subject?

Lisa,

I am looking at NUE..here is my take on it..for what it is worth..

1)currently at resistance, a HZ trendline at $57
2)currently at support, a HZ trendline at $55.50
3)currely at resistance, a diag trendline from the high in June to the high in July hitting the current high from friday..
4)using closing prices, at diag support from the close on 8/16 through the close on 9/12

So yes, at REE, but which way??

H,mm, did it break out on 9/13 from an inverse H & S ??? Or is that an ascending triangle it broke out of, but where it does not fit?

Way to choppy a chart for me to take a trade..so although I could argue at REE, both bullish and bearish, there is no trade for me here, not yet..

Lisa,

I don't have access to TOS but as far as the scaling goes, have you tried toggling the "Log" box on the top of the IT Prophet charts to see if that helps them line up?

Lis- Thanks! IE did the trick.

Jeff- Excellent comments on GRMN. Your wisdom and willingness to share is simply awesome. Keep 'em coming!

RE: GRMN... nice bounce off 105 today. In fact, 105-ish seems to be holding pretty solid support these last few days. For me that's my REE aka. line in the sand.

Scoot,

Yes. It isn't the log box. It's just skewed differently (for lack of a better way to describe it). I notice it when I watch Jeff's videos and try to see if the lines I have drawn are matching up with his. Not sure what the problem is. I may ask the Tech folks at TOS just to see. Not a big deal. I can always do my analysis directly on the IT site. Was just curious if anybody else had noticed the same thing.

LisaG

I know for me that something that efects the way the charts look is the size of the windows and the number of studies you have up.

Hope that helps.

Dan

hi Jeff-
wondering about the validity of the trade signals we may see tomorrow. Do you find that the response to the fed announcements tend to be short lived rather than trend reversals?

Hey Jeff:

Good call on VAR, had to re adjust the graph to see where it is going.

Brett thanks for the heads up

Raimo....thanks, good stuff!!!

NVDA @ REE

back to work for me :-(

Guys, I'm expecting my TA book to arrive today but I've been reading what I can on the web in the meantime (including all of Jeff's highlight posts on the right margin ------>

Anyway, I'm looking at some of my stocks on my watchlist and doing my best to analyze them. WAG I'm just lost on, but check me on WFMI. I see support at ~$42.40 and resistance ~$44.50. Am I on the right track?

Jay

Here is a perfect REE entry, for me...


RESP...at diagonal support, and the bonus, within the formation of an ascending triangle. This is my kinda setup. I get in today, my exit is a close below about $47...so I am risking about 75 cents. My target is at least $49ish, and if it breaks out of the ascending triangle and I bought enough time, my target on a breakout would be a 4pt move from 49ish...

This is a great REE, and RTR for me will be $53 if it breaks out. I wont take profits if it hits $49...$54 is my target. A close below that upward diag lower ascending triangle line, and I am out. If it breaks and closes above $49, then $49 is my new exit..

Trade at your own risk...

Right on, Raimo, that is exactly how I analyzed DRYS as well.

Amy, thanks for sharing your strategy on VMC. This taking profits quickly thing goes against my grain and is only my strategy for these choppy times.

Jay-

Welcome.

WAG is a channeling stock since December.

WFMI I see as breaking a diagonal and horizontal support around $43.00 today. I drew my diagonal line starting on 7/10 touching again on 8/1, 8/16 and 9/7.

My .02

Kim

Ramio

Like how you broke down that trade on RESP just broke up in the 10 day moving average. 47 looks like diagonal support?? Yes or No? and why

Amy and Tim,

I agree with you too on VMC in a normal market. My target was/is still $77. I did get out, though.

I'm clucking over here, call me chicken...

Kim

Ramio

One could argue 46.5 looking thru Aug or I am looking at this wrong?

Raimo,

Am I correct in inferring from your analysis of RESP that you are trying to anticipate the triangle breakout by grabbing the last bounce as close to support as possible?

Dan

Ramio,

I follow exactly what you are saying on RESP. How do you factor in the FED meeting tomorrow if you see a great setup like this one today? Do you still take it and if so do you still take the same amount of contracts or do you scale down?

Anu

POT is also coiling at diag support, ready to break out.

Brett- Have to give credit where credit is due. I just remembered you told us about the cheap option premium on VAR which is part of the reason I took the trade.

Thanks! Kim

Raimo,

I concur with your price target range on RESP. But, how do you figure out a time frame?

Thanks for your sharing your expertise with those of us who are still learning. Great posts you've offered.

VeroBarbara

Raimo,

Newbie here, I've been studying up on your REE theory and it really makes sense to me. I've had some large losses due to stupid mistakes and outrageouly dumb position sizing. So I'm determined to be smarter this time around and I think instituting REE trades will help me immensely!

Thank you for walking us through the RESP trade. I have a question and please forgive me if you have addressed it before. I looked in the archives and couldn't find the answer quickly.

How does volume or the the lack thereof work with REE? Could you give me your volume parameters for a REE trade or point me to the archive where it is discussed. The RESP REE looks great to me but volume looks light today.

Any guidance is much appreciated!

Angela

Kim wow .. .i never saw a diagonal in that chart.

# WFMI I see as breaking a diagonal and horizontal support around $43.00 today.
# I drew my diagonal line starting on 7/10 touching again on 8/1, 8/16 and 9/7.

So we agree on the $43 support. Also, if I drew your diagonal correctly, then it would have hit on 9/14 too right?

Thanks for the lesson.

Jay

Jay - Yes on the 9/14 touching. Everyone's line will be slightly different. I was taught when drawing the lines that the more touches between the line and the candle the stronger the line.

Raimo - Thanks for yet another fine example of an REE and the new RTR.

VeroBarbara - Raimo (hope you don't mind me speaking for you) got the $4 price target on the breakout from the height of the ascending triangle at its widest point. The length of time will come from the width of the triangle from the beginning until the breakout. It looks like it will probably be 7-8 weeks to get from $49 to $54 if/when it breaks out.

Hope this helps. Kim

NUE

I see this as an inverted H&S with the neckline at 55.50. We have a retest of that today. I took a small position today. A close below 55 and I'm out.

Whatz up people,

Well, Liz has left me in charge, sweet. Lets see what kind of s@#t we can get into;)


I see fslr as being a great entry on a diagnol support retest draw from the gap back mid Feb

Just my 2 cents

Grant
AKA Liza and Grant

RESP, looks like a great entry.
Think I will wait til tomorrow, though. I am a little skittish with the Fed thing.

Michelle

DRIV

Break down out of a sym triangle. Target 39, old resistance in the 40-ish area.

anyone got ERES on the radar, looks like a good entry today, fought off the bears for a bounce off Support????

Raimo, I like it RESP that is. Anu, I am with Michelle in that I will not be entering any trades until after the FED talk tomorrow. Just me though...oh and Michelle.

I'm calling the bottom on MTH.

RESP - if you're not comfortable taking a bounce on RESP prior to the triangle breakout. Consider taking 1/2 a position now and the other half when/if it breaks out.

Woohoo! Finally got filled on GRMN. Been waiting for it to pull back. Now, I can officially join all of the rest of you in rooting for this thing to TAKE OFF!

I know that a lot of us are in GRMN but if it holds in these last 9 minutes, it is a good entry or a good time to add to your position.

CMG & SNDA breakouts today, decent volume on SNDA.

James H.

clean cups

BHI- I'm looking at the close at both horizontal and diagonal support and with the implied volatility cranked up a bit higher than usual, and expecting a positive or at least neutral market response to the anticipated .25 point rate cut tomorrow, I sold September 85 naked puts for $1.05 credit. It just has to hold its head up for four days and if not I'll take the stock at a discount from where I would have bought it anyway.
Stan