G's place II

[eliteG]

What can I say?  The old pad was overrun and I couldn't hear myself think.  So I decided to upgrade to this new place.     Ah I like the view better.

---------------------

For those who want some info about me check out:

Interview with eliteG - http://www.3stocksonfire.org/trading/index.php?topic=1240.0

eliteg Infininte Compound Project - http://www.3stocksonfire.org/trading/index.php?topic=1374.0

when I bring up the g-pattern the info(messy but with plenty of examples) can be found here:
http://www.3stocksonfire.org/trading/index.php?topic=2187.0

and the original G's place - http://www.3stocksonfire.org/trading/index.php?topic=4248.0

and I'm also proud of the work done here:
fading the gaps
http://www.3stocksonfire.org/trading/index.php?topic=575.0
-------------------------------------------
just some things:

-I have researched for a very long time.. I have studied countless charts because it made sense to study the thing that makes you money(price) and the thing that allows you to buy and sell them(volume).

-I think indicators were created to retard the whole trading world.

-Traders hope when they should fear and fear when they should hope.  They hope a stock will go up when its at the lowest its ever been when they should fear that it will continue down and they fear when a stock has gone to the highest its ever been that it will fall down when they should hope it goes higher.  Thats a quote I read in William O'Neils How to Make Money in Stocks.  And I apply it by only entering a trade that has a trend already going my way.  I do not care to support a stock.  I will support a loved one.. to me a stock is something to hitch a ride on, and if you're hitchhiking you dont hitch a ride with someone pointed in the wrong direction.

-Stop following pump and dump sites, and start researching and learning from other solid traders..statistics are not good on amount of traders that survive.  Dont become a statistic.

-a million shares traded is nice but not on a stock trading for .001.  Multiply the volume and the price to get an idea of the kind of money changing hands.  You want to be where the big moneys at.

-if a stock is in a popular magazine, newspaper, tv show, or being pumped by any friggin analyst.. somewhere where the common folk(the non-traders) can hear about it.  Get ready to get out or sell short.

-if you feel uncomfortable with a position, if u feel u wont be able to stand it if you dont take home some profit then SELL.  You can sell partial, its ok.  Because if that play turns down the shit will hit the fan.

-learn to let things go, you are not going to be in every great trade, and a lot of times.. A LOT you will let go too early.  This is because you have tinier balls then you would like to think and you want to keep them safe.  You got to remember that you took a profit and thats the key.  Good job, tiny balls. 

-take a step back, unplug.. after a big loss a big win or whenever, I think this is important in everything.

-fundamentals are only important to a short-term trader if there has been a change recently, some kind of news event or industry wide trend.  I believe big money knows about this way before we do, and I follow big money by using technical analysis.  So my belief, and you cant convince me otherwise, is that technical analysis has a current fundamental analysis built in.

i'll add more to this list every once in a while
------------
added 2/28/2006 - and I just wanted to say that I try to follow a very limited amount of pennies and I go into no scanning mode when I have my positions.  I'm sure you guys know how it feels to have money invested and see a better play come along and run(it feels terrible)..so I cut that out a bit by not scanning the market for new picks until I feel ready.  I think that this has helped me out with pennies a lot.  Bigger positions, in fewer plays with an intense focus.  No rushing.  View the market at your own pace.

This is riskier of course but I think it is also hurtful to the account to play with too small a position and many of them.  Its the balance that is the key and I think you will feel it when you hit the sweet spot(which is different for every trader).

Its the end of February.. and after 2 months into 2006 my account is up 70%.  With the power of compounding March could be astronomical.  Thats what I'll be working on.  I told a bunch of you over pm that my goal this year was to find powerful plays that were safe for all of us to enter.. and I think its goin allright   .. its going to be an exciting year.

------------------------------------------

So I dont know... I guess I will keep this in lockdown mode for now, where I can only post.  Its not the way I want to have it, the questions and feedback really help and keep me sharp.

----------------

The current play I am following is NIHK and AOGS.  AOGS is a small position and meant to be a shorter time frame play.  NIHK I am playing with a large position and meant to be many days.  Here are the last charts I did for those 2.

[eliteG]

Allright lets get back to fighting form. 

Keep it clean, keep it clear. 

Lets make money. 

[doyerdiligence]

oh lord the board is open
it's monday
market is about to open
THIS BOARS IS OPEN!?!?!?!? OH MAN THAT MEANS NIHK IS GOING TO ROCK TODAY!!!! WEEEE

[eliteG]

Allright both NIHK and AOGS rockin it in the pre 

[digdug42]

Great to have you back, just in time for the open too.  Anymore thoughts on nvax?  It looks like it is set to gap up on the open.  Thanks G!

[eliteG]

Great to have you back, just in time for the open too.   Anymore thoughts on nvax?  It looks like it is set to gap up on the open.  Thanks G!

NVAX - yep it gapped at open.. hmm good volume pace for today.  It can retrace a bit and still look very bullish and you gotta be bullish about the avian flu stocks.. not sure which is the best one.

[twodachsie]

VRDM looking strong. Gap up this morning. You think this can continue G?

[doyerdiligence]

NVAX going for 7

USXP huge gap - crazy action
CNES getting pushed by arca again with BxA the same. could see some action

[eliteG]

VRDM looking strong. Gap up this morning. You think this can continue G?

Yes I do.. I like VRDM.. I'm thinking around a nickel makes a good stop. 

[dhiraj19]

Hey EliteG,

What would you like to say for AOGS and NIHK from today's morning action? AOGS hasnt got much volume flowing in and is slightly trading down. NIHK is trading in narrow range with decent volume flowing.

Any thoughts/comments?

Thanks,
Dhiraj

[eliteG]

Hey EliteG,

What would you like to say for AOGS and NIHK from today's morning action? AOGS hasnt got much volume flowing in and is slightly trading down. NIHK is trading in narrow range with decent volume flowing.

Any thoughts/comments?

Thanks,
Dhiraj

Well I would love the stocks to just go straight up but that usually is not the case.  I just want to see support come in and no crazy selling.  Both AOGS and NIHK have had strong moves without news.  I believe that they are in play at least until news comes out.  The potential of that news should support the stock.  The higher the support the better.

[Loffigus]

NIHK Has gapped a bit today, but it's trendline has been getting steeper over the past day or so.  It can retrace some and still remain bullish.  I would not like to see it come down below $0.135 however.   If you notice its 5-day chart, we are still very much in "ascend" mode.  Let's hope some news can keep it that way. 

[eliteG]

NIHK Has gapped a bit today, but it's trendline has been getting steeper over the past day or so.  It can retrace some and still remain bullish.  I would not like to see it come down below $0.135 however.   If you notice its 5-day chart, we are still very much in "ascend" mode.  Let's hope some news can keep it that way. 

nice chart Loff    I concur.

[wrangler]

Hi elite
Just bought
DRGV,,,NIHK,,,IMNR,,,ILNP,,,NEOM
What's you're TA when you get time
Thanks

[nmbr1ballr]

G, Why is it that someone keeps dropping the ask? What is the purpose of it?  The ask is always .5 cents below the current price and is always getting filled.  Why would someone actually sell that low?