Update SQI.V

Looking over the short data it can be seen that the shorts have been hitting the bid (It's legal to do that... no uptick rule in place anymore)... as the short positions have indeed risen over the Dec 1 to Dec 15th period and likely the pressure continues... It could be just a tactic that is being used to get a best price over the Santa Rally period...  (who knows), but I use an indicator of which to be honest is said to be representative of Institutional distribution and accumulation.... although much like the On Balance Vol..... which is said to represent retail exubeerance.... the Accumulation/Distribution (Accum/Dist l) derives the average calculations much the same, but does over a longer time frame... If they both are tracking up in an uptrend... it seems such stocks they track are on a tear.... IF THEY HAVE BEEN CONTRARY THEN WHEN THE ACCUM/DIST TURNS UP... CAN BE LIKE A ROCKET.

A Stock can be on an uptrend with On balance bullish and tracking up even in the face a down trending Accumulation/distribution... Institutions selling the retailers, but the demand is strong enough to run the price up even with the selling into strength.... When I examine the two indicators side by side... I can see the ON Balance (retail) is ranging.... and the Accumulation/distribution (institutional is selling)  falling... (Certainly could be construed as an over sold condition),  but it is also potential stop loss run... I was not happy to see the shorts putting the pressure on.... I AM READY FOR A SURPRISE MOVE IN EITHER DIRECTION... Maybe a reaction bounce coming soon......... the dip before the pop(a common occurance)..... or just remove the short...  it could be whippy.

Short History
Symbol Report Date Volume Change
SQI - V 2010-12-15 558,900 134,641
SQI - V 2010-11-30 424,259 -142,141
SQI - V 2010-11-15 566,400 -123,525


GLTA Lostoutwest


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Update EVG.V

Level II is heavy on the bid side for lots of support with the asks medium to spotty on a good looking daily uptrend chart study just working through the weak hands.. I think a best buy at this point would be under 1.10,,, we may get lucky from the looks of things on level II....... but likely the best we could hope for would be somewhere just over that over the holidays... otherwise I think the supply is getting lighter and a breakout would have much less resistance and as such C Money Flow (accumulation) would reflect better in the daily chart..... we are just clearing medium term MACD 12,26,9 trigger line resistance as can be seen in a weekly chart...

GLTA Lostoutwest


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Update GQC.V

Here's a chart of a good looking potential new high in the works going into the Santa Rally and January Effect 2011... strong fundamentals and some good analyst speculation (two I know of unnamed)... positioned early in an upmove just having broken the .32 cent barrier. updates in the Stockcharts Public List

GQC.V

GLTA Lostoutwest


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MKR.V

Great looking chart...

I'd love to jump in ... looks ready for a move up, but the ask keeps on refreshing as if it is an Iceberg of unknown size... irritating but not critical.... problem is, I can see no known PP and a look at the latest financials suggests they need cash to go through with the project and that is just what I'm going to phone and ask the investor relations... where the money is coming from, or did I miss something (could be they are getting cash from execisng option paper). Still it could pop over the holidays!


GLTA Lostoutwest


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One thing for sure... BAN.TO

The market has every known thing factored into the price... take BAN.TO... for instance  ...just released a PP for 30 million shares @ .50 cents ...talk about the selling pressure recently in order to take positions likely held by insiders..... however a pretty positive spin for a good looking chart to suggest a reason to buy. Post financing I love it. We may get lucky and see some NR selling to drift to the .50 cent range PP where it would technically be a great buy for risk control in this traditionally down week... but it's not likely unless a house magically appears to clean up a position, making room  for the PP of a client... we have block support @ .55 (100k) with a range gap to .59 on the open showing on level II...  that could change closer to the open.

GLTA Lostoutwest

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Updates to the "You're gonna have some Fun Charting"

New links have been added.... bottom patterns... topping and swinging... some refresher video chart indicator topics... I hope they are helpful..

GLTA Lostoutwest


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Topping or Swinging

In the right side bar is a window that describes a summary of the considerations needed to be accounted for ... "Trading Tips" ..... You need to have a good grasp of recognizing an up trend, and in a perfect world there are some basic considerations... If you can do that, then recognizing a down trend, and a ranging move are taken for granted.

I always approach a swing opportunity as a top. Picking a top can be a slippery slope and as such, any assistance you can get should help so I recommend  the $8.95 Market Club Trial Offer to start and keep you swinging successfully... the trade triangle technology is good as it gets for picking trend reversals. 

The tops I pick.......... tend to be spiky, and pops the upper bollinger one to three days (on gaps) I usually aim to wait for the backfill to start or a close back under the upper bollinger....!

Only after a swing works it's way into a position that confirms it was a swing, can I call it a swing. You may be able to use the below descriptions to develop skills.

You should  view this ADX video... how-trade-trends-using-adx. in order to identify the trend, trend strength and in between trends, if the market is ranging...

Next is an introductory  discussion on the bollinger the best as I have seen in less than 5 minutes in this You Tube Video says it all for the way the bollinger is used...... Relative support and resistance in ranging conditions.

View these two  links on macd using part 1- macd indicator-part-2 to freshen up...

You should view this learn-trade-stochastic-oscillator-video Stochastic videos..... they refer to the Slow Stochastic, but my own preference is the Full Stochastic 15,5,5.... it reads smoother usually, and displays the crossovers better in my opinion. Try the 14,3 Slow Stochastics and the 15,5 Slow Stochastics... it really is a matter of personal choice. The stochastic is used in combination with a trend line (very important to weed out stochastic fake outs).

As for the RSI...The stochastic indicator is much the same as an RSI, but I prefer to use them both, combining the the MACD with the RSI. you should also refresh your understanding of the relative-strength-index-rsi-trading video.

Once you have that part in your mind.... you need to apply the supporting indicators to confirm a ranging top, or bottom, or a ranging breakout of the range up or down riding the bollinger...

Range picking a top is pretty well straight forward....

However....

In an uptrend... It is not just enough to trade the bollinger top and  bottom touch with confidence... you can get in trouble doing that....

I use a trading study called "The Left and Right hand of the Devil" that incorporates the MACD crossovers with the RSI over 70 under 30 extreme readings... they make a good pair of confirmation indicators for extreme conditions.

The study I came up with is comprised of, (However, ...:indicators that your already familiar with may work better for you) and are in this order, as a personal preference, because the positioning of the indicators compliment the surrounding above, and below indicators, present a visual picture that I think supports the best expression as a picture:

1) The default ADX... (Above the price) is the trading indicator which defines the trend strength, and whether the price is ranging OR TRENDING

2) An average study incorporating a  50 day MA... and 200 day MA for the "Sweet Spot Filter triangle trading the bottom pattern" using the 50 and 200 day averages filters out a lot of weak stocks... best used in a broad market or sector upswing.

3) Default Bollinger (20)which includes a 20 day MA for support and resistance entry, and exit in a ranging price. However both the lower bollinger and 20 day average can be levels of support in an uptrend.

(the rest of the indicators are set below in the following order)


4) StochRSI  (4 different settings) used to read continuations and read the RSI 14 as well... explained in the study. These 4 indicators are all the same, but the different settings allows for a depth speculation. They are a sub study. The key indicator in the group is the StochRSI (140) such that a move up over 80 under the right supporting conditions, signals a continutation in progress leading to a pick the dip strategy.


5) Default MACD 12,26,9 For trending momentum, crossovers and diversion
                                (LEFT HAND OF THE DEVIL)

6) Default CMF Momentum to account for accumulation and support MACD trigger line crossovers.

7) MACD 12,26,9 Histogram.....Isolates the histogram, and displays it better (I like it... you may not), and compliments the below RSI.......... (histogram crossovers are in sync with MACD average crosses) so looking at one... you know what the other is doing... just a point of interest. The MACD tends to confirm the RSI in extreme situations better... but still works reasonably in a ranging situation.

8) Default RSI          (RIGHT HAND OF THE DEVIL)  Best reads extreme tops (over 70) or bottoms (under 30), in between readings are hard to evaluate if they are overbought, or oversold..

9) As opposed to the Slow stochastic in the videos.... I like a Full Stochastic 15,5,5 (rather than the 14,3,3) which both track about the same, but the latter is too squished for my taste as the former 15,5,5 shows a wider more easily seen plot used to pick the top in combination with a break in a trend line drawn as a price overlay for the uptrend, and associated with a double top chart pattern in a lot of cases. the price overlay trend line is important..... The trend line holding... spots fake out Stochastic tops, and when it breaks... the Stochastic top can be considered real. You may not get out on the cusp... but you know where things are likely to be going, even if you get whipsawed a bit in your adjustment exit strategy.

If the trend line is not broken by the price, then the stochastic top is likely a fake out where the stochastic can be read as an oversold/overbought within the trend indication.

Best practiced in an uptrending broad market, or, at least uptrending sector.

So putting it all together   Here is a link to the study..... a more detailed description...


The Left and Right Hand of The Devil


As well click on the labels at the bottom of the post to bring up other discussions.

Dave GLTA

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