Point and Figure method - trading journal

This is a discussion on Point and Figure method - trading journal within the Trading Journals forums, part of the Reception category; Facebook stock technical analysis Assuming Nasdaq will perform worse in a bear market, it is safe to assume FB will ...

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Old Nov 12, 2012, 12:51pm   #31
 
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Re: Point and Figure method - trading journal

expensif started this thread Facebook stock technical analysis

Assuming Nasdaq will perform worse in a bear market, it is safe to assume FB will perform badly as it has since the IPO. Action has been terrible and I feel for the people who bought there and then on promises. Who dares touching this one now. There are some technical points to consider which can provide for good setups. A break out below the 18 level would mean to me that we are heading down again, a confirming pullback on low volume for added confidence. The action in the current trading range is quite erratic. I don't see real stopping action, more a low base type of pattern.

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Old Nov 13, 2012, 2:26pm   #32
 
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Re: Point and Figure method - trading journal

expensif started this thread Approaching or breaking nearest 45 degree point & figure trendlines:

AEE BREAKING:

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Old Nov 13, 2012, 2:26pm   #33
 
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Re: Point and Figure method - trading journal

expensif started this thread PCG approaching 39-40 level P&F trend line

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Old Nov 13, 2012, 2:27pm   #34
 
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Re: Point and Figure method - trading journal

expensif started this thread PPL

Somewhat strong compared to the others, but at an interesting technical level

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Old Nov 13, 2012, 2:28pm   #35
 
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Re: Point and Figure method - trading journal

expensif started this thread SO

I don't want to own Southern

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Old Nov 13, 2012, 2:29pm   #36
 
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Re: Point and Figure method - trading journal

expensif started this thread EXC looks so bad it does not even fit into the percentage point & figure chart without zooming

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Old Nov 14, 2012, 12:40pm   #37
 
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Re: Point and Figure method - trading journal

expensif started this thread Moving further downwards. We have already broken the technical level on the SP500 that we identified time ago. We will see a pullback at some point, but for now we are continuing to focus on the weak stocks to short.

CPE has a double bottom point and figure pattern at 4.50 on the 1% chart. The candle stick chart shows the quick pullback on lower volume. Looks like a nice short to me.

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Old Nov 15, 2012, 12:25pm   #38
 
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Re: Point and Figure method - trading journal

expensif started this thread We had a huge up bar in FB which we are interested in mainly on the short side.

We are still in the range we identified, and these huge up moves have happened before in this range.

If we have worse times ahead, an entry at the top of this range could prove fruitful.

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Old Nov 15, 2012, 12:26pm   #39
 
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Re: Point and Figure method - trading journal

expensif started this thread ACN is a tech stock that is in a nice downtrend, we are abit over extended for going short, unless the bottom falls ut at this point, as we are at a support level.

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Old Nov 15, 2012, 12:26pm   #40
 
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Re: Point and Figure method - trading journal

expensif started this thread For a trend follower ADP only means following it down. Maybe to 50.

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Old Nov 15, 2012, 12:27pm   #41
 
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Re: Point and Figure method - trading journal

expensif started this thread UTX in a break down through the short term support

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Old Nov 15, 2012, 1:16pm   #42
 
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Re: Point and Figure method - trading journal

expensif started this thread The market is getting somewhat oversold, and we WILL get a pullback at some point. WHEN the pullback comes a short term trader could enter positions in strong stocks, if keeping in mind that the 3 month longer trend is down.

We will get a pullback and test the 1400 level in SP500. If we get that far, or if we even go through it - only time will tell.
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Old Nov 16, 2012, 1:29pm   #43
 
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Re: Point and Figure method - trading journal

expensif started this thread DVN breaks some tough support while SP500 breaks its support

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Old Nov 18, 2012, 1:09pm   #44
 
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Re: Point and Figure method - trading journal

expensif started this thread We've had a big drop and will likely get a rally from here somewhere. Markets move up and down. We could be testing or entering the yellow area during this week. On Friday we saw a reversal bar.

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Old Nov 20, 2012, 2:12pm   #45
 
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Re: Point and Figure method - trading journal

expensif started this thread For now it seems like we are in the rally we were anticipating earlier. How long it lasts, or if this is the beginning of a larger up - nobody knows.

KORS is an interesting stock for an upmove. It gapped earlier this year and we have now tried to close that gap, but failed. Instead we had a Wyckoff spring at the 48 level. On the P&F chart this reversal is happening at the exact level of the 49 top earlier this year.

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