Spike's Scientific Stock Analysis

[spikefader]

Spike,
Could you look at SWIR's chart? Does it look like a double bottom to you? I'm still trying to learn the charts.
Thanks
Yaoyao

Sure. Yep, it's a double bottom.

Spike,
Just want to say that I really really appreciate your time and effort to answer each of my questions. I feel so lucky to find this site and this thread. It makes my learning much faster and more efficient. Thanks.
Ying

You're welcome. Glad you're getting something out of the thread.

[IIC]

Hey Spike...Let me say that I really appreciate your charts and analyses too!!!

Any thoughts on RELV???

http://trimurl.com/2M

[spikefader]

Hey Spike...Let me say that I really appreciate your charts and analyses too!!!
Any thoughts on RELV???
http://trimurl.com/2M

Thanks IIC, appreciate the feedback.
Here's what I'm seeing with RELV. Omitted to put FIB on there, but there's a nice bounce off the 50% retrace of the move from 5.05 to 11.89. A reasonable projection target is 16.00, which fits well with the size of the channel.

[yaoyao]

double bottom v.s. triple bottom

Spike,

How would you know that a double bottom would not turn into a trible bottom? In other words, how to determine entry point when you see a double bottom formation? It looks like that MAGS is heading the 3rd bottom. Will SWIR do the same?

Thanks.

Yaoyao

[spikefader]

Re: double bottom v.s. triple bottom

Spike,

How would you know that a double bottom would not turn into a trible bottom? In other words, how to determine entry point when you see a double bottom formation? It looks like that MAGS is heading the 3rd bottom. Will SWIR do the same?

Thanks.

Yaoyao

You wouldn't KNOW. That's why it's called speculation. You can only prepare for the two possible outcomes and act accordingly. There are no guarantees in the stock market. There are plenty of potential double bottoms that turn out triple bottoms/complete failure at support, simply because support disappeared. They only become double bottoms when there are buyers to make it so. You can never know for sure whether there WILL be buyers. But a good point of entry for anticipating a possible DB is at a good support level, whether that be a channel line, reg channel, FIB, vol by price, 20 day hourly Bband, intraday S1 or S2 etc. Then all you can do is wait and see if support comes. If it doesn't, the DB will fail, and you will exit the trade and move on.

MAGS: maybe. SWIR: perhaps. The answers are always going to be the same. Chart reading will never give you the certainty many people want. Chart reading will only give you an 'edge', nothing more. Use the edge to plan your reaction to what the market does. That's the only thing you can control: yourself.

[spikefader]

QQQ

[carribean_mike]

Thanks for the update on the Qs. Sub- 30 is going to hurt unless you are on the right side. I am starting to get more comfortable on the short side, so we are probably near the bottom.

Any thoughts on SMH?

[IamOrion]

ESMC

Spike

Check out ESMC when you get a chance for a short, got in today after being long. Went long for about .75 sold today and went short at 19.10. The chart looked like it could have went either way, I thought it would go higher, I was wrong and the then the chart started to deteriorate and I went short. Any thoughts would be nice.

Thanks,

Orion

[IIC]

Re: ESMC

Spike

Check out ESMC when you get a chance for a short, got in today after being long. Went long for about .75 sold today and went short at 19.10. The chart looked like it could have went either way, I thought it would go higher, I was wrong and the then the chart started to deteriorate and I went short. Any thoughts would be nice.

Thanks,

Orion

I know you are looking for Spike's response...But let me throw something in here...At the close Friday, ESMC had a Bullish MACD crossover...Of course that went down the drain today on news http://trimurl.com/3C

How about MATK?...news killed that one today too.(Fire)

[IamOrion]

It never crossed over on the chart I was looking at, and it is about to crossover to the downside of the zweo line. It also has a CCI sell signal on my chart. What parameters do you use for your MACD? Not to mention it was IBDs #1 for weeks on end. MATK looks good as well, its a little to expensive for me on a per share basis right now. Thanks for the heads up.


Orion

[IIC]

It never crossed over on the chart I was looking at, and it is about to crossover to the downside of the zweo line. It also has a CCI sell signal on my chart. What parameters do you use for your MACD? Not to mention it was IBDs #1 for weeks on end. MATK looks good as well, its a little to expensive for me on a per share basis right now. Thanks for the heads up.


Orion

I saw the crossover on Stockcharts over the weekend...it was even on their scan list.

[evilarya]

Hey spike any thoughts on GGI, thanks in advance

[yaoyao]

intraday s1,s2,r1,r2

Spike,

How do you figure out intraday support (s1, s2) and resistance (r1,r2)? Could you project these from stock movements for the previous days?

also, any thoughts on IPIX?

Thanks.

Yaoyao

[spikefader]

Thanks for the update on the Qs. Sub- 30 is going to hurt unless you are on the right side. I am starting to get more comfortable on the short side, so we are probably near the bottom.

Any thoughts on SMH?

[spikefader]

Re: ESMC

Spike

Check out ESMC when you get a chance for a short, got in today after being long. Went long for about .75 sold today and went short at 19.10. The chart looked like it could have went either way, I thought it would go higher, I was wrong and the then the chart started to deteriorate and I went short. Any thoughts would be nice.

Thanks,

Orion