Jim's cycle trades

[Jim Smith]

SYK breaks 10 month downtrend

long.....there's some insider buying reported today as well

[Jim Smith]

saw article folks traveling to india

for hip replacements....nothing new but USA Today helping the story go mainstream....also, medicare will take a break from cramming cuts down hospitals throats, it's an election year you know.....ZMH and SYK will roll

[peanuts]

I even added a squigly comment... I just love to see those

Got out of LRCX at 40.45 today. It may test 13 day MA at 40.83 and fall, so I'll take what I've got.

Thanks, Jim, I wouldn't have traded this if you didn't post. The squiglies never lie.

[mimo_100]

MHK has a negative DMI around 40....over the last five years, whenever the DMI negative reached this level, the stock rallied, somethimes 50%

I charted MHK and looked at the DMI (using stockcharts Wilder DMI)
It appears to spend most of its time below 40. What are you referring to?

Thanks.

Tim

[Jim Smith]

Use weekly chart when studying DMI

MHK negative DMI doesn't touch 40 exactly....Use the relative level compared to other peaks over the last several years.....They all have led to rallies.

[Jim Smith]

SYK....huge symmetrical triangle b/o

$45.35 breakout today.....this one has a long way to go

[DSteckler]

$45.35 breakout today.....this one has a long way to go

Extremely low volume, low ADX, and an overbought stochastic suggests the breakout is not sustainable. The last two times SYK rose above its 200DMA (January and March) it fell back below a few days later.

[Jim Smith]

MRK reversing

watching for a throw back to the neckline of the head and shoulders bottom pattern.....I will be buying on the test.

[Lyehopper]

watching for a throw back to the neckline of the head and shoulders bottom pattern.....I will be buying on the test.

What are you talking about Jim?.... A "head and shoulders bottom pattern"?.... Are you looking at the intraday? What?.... A two day chart showing a left Shoulder yesterday?.... The head today.... And speculating where a neck line may form for a right shoulder?

Damn! it would be nice if you would post a chart with these comments dude.... It only takes a couple of minutes.

[DSteckler]

You just charted a H&S top, Lye, not a H&S bottom.

[Lyehopper]

You just charted a H&S top, Lye, not a H&S bottom.

Yeah I know Dave.... That's why I'm questioning Jim.... I see MRK no where close to testing an inverted SHS bottom. I thought maybe he made a mistake in his terminology or something. What? Is he targeting $37?.... If so, why not say so?

[Jim Smith]

MRK's weekly chart

Not MRK's intraday chart.....the weekly chart shows a H/S bottom breaking out at $37.50

[DSteckler]

Not MRK's intraday chart.....the weekly chart shows a H/S bottom breaking out at $37.50

I see it now. Looks like MRK stalled at the 200-week MA.

[Jim Smith]

So far the 200 week is resistance on MRK

But....the throw back I am looking for doesn't happen yet.....I'd be making a ton except for my Don Qixote immitation....I suspect many are fighting personal demons here. Tough tape.

[Jim Smith]

Weekly neg DMI for MHK

when the negative DMI on the weekly chart was as such a high level in the past, but bull move was huge....Oct 1998 the move was 88% up....July 2002, the move was 57% up....