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You see, Here is what I mean.
I assume that this is Chessy Energy that you are
talking about.
I have price in a range between 34 and
25.50. It is in an up move until 25.50 is taken out and then this
retracement has a target price of 26. Right now it is at support
from a longer term move down at 28.75. You should get a retracement here
and the retracement shouldn't take out the 33 level. If 25.5 is
taken out the next target to the downside is 22.
This current retracement up should meet resistance
at 30 dollars and hit a target of about 30.50. About a 1 point move from
here. If long I would exit there.
So you would be 100% invested when I am exiting
100% and looking for a congestion area or further down retracement before
another up move would start.
We are both looking at the same chart and seeing
different things. Right now the major move is down and anything to the
upside is nothing to get excited about. The upside is tradable and can be
profitable. Like everything else in life, what is seen is in the
eyes of the beholder.
Once again, just one man's opinion.
Ira.
PS. Finals on Monday and then a
vacation. See all when I return. Have a good week.
----- Original Message -----
Sent: Saturday, May 20, 2006 8:35
PM
Subject: Re: [RT] post questions
Hello Bob
I have attached a chart of the perfect stop
loss
the levels were I would buy would be
at a close above 29.27 will buy
25% of position with stop loss at 27.98
will add 25% to the position on a close above
29.78
buy full 100% of position at close
above 30.68
sell 25% at profit at 31.10
sell another 25% at 31.89
sell rest at 32.36 or move stop
loss to 31.1 with increasing that stop loss every time
the stock makes a higher hi
Ben
----- Original Message -----
Sent: Saturday, May 20, 2006 10:32
PM
Subject: Re: [RT] post questions
A kind and generous offer Ben.
It seems to me
that traders try harder every year to get ahead of historical swings and
this time, it's the summer doldrums they are trying to beat. So,
instead of waiting for the dreaded summer months, they are bailing now to
beat the rush. The good news is even these swings can be predicted if
one just looks at the past performance of the markets versus chronological
changes and geo political events, etc. Whatever the trend is, the
traders will be trying to get ahead of that trend.
The
fundamentals are still good. P E's are in line and earnings are
growing. Inflation is low and controlled. Employment is strong
while on the negative side, housing is falling off and some consumers
are being pinched with ARM's. I was 100% cash until late this week
when I began buying again and will continue to buy as it falls.
To get your kicked off with your offer, here is one for you. I
already own CHK at $28.80 and will buy more if it dips below that. The
CEO recently bought a large block and they have sold 70% of this year's and
next year's production at $10 so as natural gas falls below $6 cash, it
means little to CHK in terms of earnings. What do you think about
it?
Best to all,
Bob
At 03:19 PM 5/20/2006 -0400, you
wrote:
hello
you are about to make a
trade?
before making it
post it
get a second
opinion
the answer will be posted with
charts to explain reasons why yes or no
Ben
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