AUY

[Melf Elf]

Sold remaining 80% AUY at 13.24.  Gain: 1%. 

Gain on the re-entry: 1.9%.  Gain on the two trades: 14.1%

They got me on that one! 

Congratulations to those of you still long.

[Holygrale]

Major upleg on its way, the best part of riding a BULL is hanging on for dear life.............LOL             and of course not to get thrown off to early (thats the hardest part)........

Melf, look for a dip, and get back in $15 is coming one way or the other.....

[tokyopua]

Today was awesome, nice volume, stock closed at HOD, beat the all time high by a penny, breakout to bluesky coming, very bullish 

[lancefur]

Major upleg on its way, the best part of riding a BULL is hanging on for dear life.............LOL             and of course not to get thrown off to early (thats the hardest part)........

Melf, look for a dip, and get back in $15 is coming one way or the other.....

Any dip or a certain percentage thereof? I have wanted to own this stock for a long time and just never pulled the trigger.

[Holygrale]

Lancefur, its hard to say since shes in unchartered territory, but I think shell fill the gap and the scream straight up.................but who knows.

I will add to my core position for a day trade at $13.95.........or $14.00

If she retreats early in the day, that would be a good sign IMHO......

[Holygrale]

Wow what a day..........fortunately for me I was glued to the screen some what and was able to play this bull pretty good.........For me I tip my hat with a beer in hand, thanking her for the profitable ride.............

I sold near the open at $14.20.......and waited ......

I then doubled down limit at $14 thinking she would fill the gap and she did, briefly touched $13.97 and screamed up to  $14.35 where I sold at $14.29..........

I bought back at 1/2 my shares at $13.92, talk about prematurely only to see her dive to a low of $13.57............what   

Long and strong into the weekend, hopefully $13.50 holds............

POG is looking good, limit-up move is coming.............AKA parabolic!

[Ares]

Holygrale,

I noticed from your post that you do some day trading.
I'm just wondering if you use level 2 and wait for block trades before entering or do you mainly base your decisions using charts?

Continuously learning,
Ares

[Holygrale]

Eatinfolikefish.......

Stocks are like people............

If you watch their behavior long enough, you have a good chance of predicting their movements........In other words only date 1 stock at a time(100% committed in its direction with hard facts, BS doesn't count).......this is no joke!  I've learned the hard way many times..........

Right Now the pros are screaming BUY gold, and so am I since 2002.......I'm committed in 2007 and beyond, to me this is the sector to be in.

So to further answer your question.......

I dont use level 2........

I only day trade 2 types of stocks...........
1) ones that I'm 100% commited with core position ( I buy on the dips for the daytrade).
2) momentum stocks (great P.R or block buster news) with HUGE volume!

Charts do speak their own language, its called what the average buyer is willing to pay, and what the average seller is willing to sell at............

Just remember, Facts trump all indicators, and VOLUME doesn't lie!

Someone on this board has a good saying, and it might be Randsburgh who says it........."plan your work, and work your plan".

I just explained you mine in a nutshell, but its taken 8 yrs and thousands of dollars worth of lessons................LOL

Wish you the best.

[Ares]

Hi Holygrale,

Thank you so much for responding.
At first I thought you were going to ignore my inquiry.
Starting today, I'm going to brush up and improve my chart reading skills by reading as much as I can from the Technical Analysis Section of 3SOF's message board.
I'm on a mission to find out what majority of trader's are looking for and to trade with them.
I will be posting my observations in the Personal Logs Section titled
" Daytrading with Consensus."
I respect your trading experience and am looking forward to any comments you have.
I'll keep in mind that "volume doesn't lie."

Thanks again,

Ares

[Holygrale]

Eatinfolikefish,no worries.............thats whats great about 3SOF web site.

Follow Melf Elf for the technical side, that guy is money IMHO........he calls them right more often than not. I respect his TA work.

[Melf Elf]

We're having a nice consolidation of the straight-up rally from 13.16 to 14.35.

Today's trading is a Symmetrical Triangle: Highs: 13.94..13.93; Lows: 13.71...13.70.  We could get a gap fill of 13.63 - 13.59, but if AUY takes out today's highs, a breakout of the entire pattern would put the recent high of 14.35 IN PLAY.

In a bullish trend, expect these patterns to be bullish continuations.

Until they aren't. 

[lancefur]

We're having a nice consolidation of the straight-up rally from 13.16 to 14.35.

Today's trading is a Symmetrical Triangle: Highs: 13.94..13.93; Lows: 13.71...13.70.  We could get a gap fill of 13.63 - 13.59, but if AUY takes out today's highs, a breakout of the entire pattern would put the recent high of 14.35 IN PLAY.

In a bullish trend, expect these patterns to be bullish continuations.

Until they aren't. 

This mean you are back in?

[Melf Elf]

This mean you are back in?

lancefur,

Yes, I'm back in.  I planned only to day trade it on the pullback this morning, but I'm going to hold it.  I like the consolidation pattern that I posted, and I also like the fact that we're getting a second bounce out of Bullish Synchronicity in the 13/21 RSIs (chart below).

[lancefur]

Hopefully I didn't get in too high. I bought at 13.89. 

[Holygrale]

Nice work guys........

Personally I think tomorrow or Thursday the POG breaks out BIG time and of course this one should follow, so I had to buy some more just in case so I bought the other half at $13.89..........