Comments on: McShorty Stands Me Up http://dummyspots.com/2007/04/mcshorty-stands-me-up/ Stocks, Options, Currencies and One Big Dummy Tue, 06 Jan 2009 00:54:47 +0000 http://wordpress.org/?v=2.2.1 By: McShorty Shows Up • dummyspots.com http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2966 McShorty Shows Up • dummyspots.com Thu, 12 Apr 2007 03:12:36 +0000 http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2966 [...] There are any number of charts that are showing a short setup, but if you’ve read my previous posts you know I’ve just gotta show Apple (Nasdaq: AAPL): [...] […] There are any number of charts that are showing a short setup, but if you’ve read my previous posts you know I’ve just gotta show Apple (Nasdaq: AAPL): […]

]]> By: Fan http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2891 Fan Sun, 08 Apr 2007 11:36:07 +0000 http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2891 Nice. Thanks for commenting. Nice. Thanks for commenting.

]]> By: Will http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2885 Will Fri, 06 Apr 2007 23:38:37 +0000 http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2885 Fan- You mean as to why it didn't drop further? I think it was just a classic selling- into- resistance play, with the resistance being that 3/26 high. The daily chart itself wasn't technically overbought, and the overall market is rising in the short term (albeit slightly), so it tapped that high and fell back. On yesterday (4/5), the buying came right back in as people (rightfully) noted the pullback into what is still an intact uptrend. Had that same tap- and- fall happened near major longer-term support (200 SMA or major trendline), and that support had fallen, you'd be in a nice, longer swing trade. But I think the little 1-3 day plays like this one are *very* short-term, "reaction" type opportunities and should be traded as such. Wednesday (4/4) and yesterday (4/5) both made for beautiful daytrades, no? Yesterday morning formed a beautiful flag, touched exactly 27.17 three times, then broke upward and ran like the devil. 'Course, this is all just me yammering. I didn't even see this thing happening until you pointed it out. (Thanks, by the way). One other thing- notice the way Wednesday and Thursday had nearly identical ranges. That formation can make for a good trade entry, if the next trading day opens near the top of the formation then breaks long, or opens near the bottom and breaks short. Fan- You mean as to why it didn’t drop further? I think it was just a classic selling- into- resistance play, with the resistance being that 3/26 high. The daily chart itself wasn’t technically overbought, and the overall market is rising in the short term (albeit slightly), so it tapped that high and fell back. On yesterday (4/5), the buying came right back in as people (rightfully) noted the pullback into what is still an intact uptrend.

Had that same tap- and- fall happened near major longer-term support (200 SMA or major trendline), and that support had fallen, you’d be in a nice, longer swing trade. But I think the little 1-3 day plays like this one are *very* short-term, “reaction” type opportunities and should be traded as such.

Wednesday (4/4) and yesterday (4/5) both made for beautiful daytrades, no? Yesterday morning formed a beautiful flag, touched exactly 27.17 three times, then broke upward and ran like the devil.

‘Course, this is all just me yammering. I didn’t even see this thing happening until you pointed it out. (Thanks, by the way).

One other thing- notice the way Wednesday and Thursday had nearly identical ranges. That formation can make for a good trade entry, if the next trading day opens near the top of the formation then breaks long, or opens near the bottom and breaks short.

]]> By: Fan http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2875 Fan Fri, 06 Apr 2007 11:20:32 +0000 http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2875 I spoke too soon? RSH had just enough cowbell yesterday. What gives? Will do you have a theory? Good Friday to you. I spoke too soon? RSH had just enough cowbell yesterday. What gives?
Will do you have a theory? Good Friday to you.

]]> By: Will http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2864 Will Wed, 04 Apr 2007 23:38:17 +0000 http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2864 Fan- wow! RSH touched that (3/26) 27.88 high yesterday and never looked back. And cowbells everywhere this morning as the breakdown of the Opening Range at 27.50 was nearly picture-perfect, as well. Thanks for pointing it out! Fan- wow! RSH touched that (3/26) 27.88 high yesterday and never looked back. And cowbells everywhere this morning as the breakdown of the Opening Range at 27.50 was nearly picture-perfect, as well. Thanks for pointing it out!

]]> By: Fan http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2863 Fan Wed, 04 Apr 2007 23:17:52 +0000 http://dummyspots.com/2007/04/mcshorty-stands-me-up/#comment-2863 then check out RSH. too much cowbell, mayhaps??????? then check out RSH.
too much cowbell, mayhaps???????

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