Trading the US the Naz/Mr. Charts Way

[Grey1]

Newtron,

I use two brokers Ameritrade/IB so I do not know much about TS as brokerage services.

Tradestation software is excellent.

 

[Newtron Bomb]

Thanks grey1
i will continue to look into it


Looks like i missed some good moves while i was out, hope some of you were on them

Happy trading
NB

 

[Mr. Charts]

Got a nice shark's bite out of the CECO collapse ;-)))

 

[Newtron Bomb]

Nice, i was just looking at that.... shocking

Hope your keeping well Mr C.

 

[coffee]

I can't believe u managed to get something out of CECO. I couldn't. I was in SNDK.

 

[Mr. Charts]

I was alerted to the fall on my watching system, got it on the bounce and picked up $1.88 - nice and juicy.
It was the sort of trade where you could have picked up $3 or $1 depending on the second you took the trade - a real bucking bronco of a ride for nine minutes ;-)))
R

 

[ChartMan]

Strewth a short from the top would have been nice. :cheesy:

 

[Mr. Charts]

Indeed, but I only check my radar every five minutes ;-)
Still, I'm not greedy, a bite out of a few trends keeps hunger at bay.

 

[Digs]

Big rally stocks in the past couple of weeks like RMBS, OSTK, IMCL and NGEN, where volume is 20 times more than monthly average for news break out day.

QUESTION : Is this type of rally typical of the BULL market days of 1999, or can they happen in bear markets days like 2000 to 2001? If there answer is it does not matter bear or bull then is there less frequency of there occurance.

 

[Grey1]

Coffee

There was no technical reason for the fall of CECO .. It was a pure Comet ( news ) driven collapse of the stock. CECO was halted trading for some time and I would certanily not want to be in that dangerous situation ... UOPX,APOL,ESI,ECLG also plunged against the fall of CECO .. funnyhow market works,,, stock plunges and 1/2 an hour after CIBC reiterates out performs on the stock ..

 

[Naz]

Re CECO

A former registrar at Brooks Institute of Photography is charging that officials at the school acted illegally and improperly to inflate enrollment and boost the bottom line, allegations that have triggered an examination by a national accrediting agency. Cam Van Wingerden filed a complaint with the school administration and the Accrediting Council for Independent Colleges and Schools after she quit her job as registrar in September. The council will take up the accusations "as a matter of importance" at a meeting that starts Thursday at the agency's headquarters in Washington, D.C., said Rob Patterson, associate executive director. Among Mrs. Van Wingerden's charges is that school officials forged signatures and tampered with student files and other records. She alleges that this was done to ensure that the school would pass inspection by accreditation auditors and to increase enrollment and income for the owner. Chicago-based Career Education Corp., which owns Brooks, referred inquiries to the school's new president, Greg Strick. He declined to respond to questions but issued a brief written denial Tuesday of all the allegations. "We have conducted a thorough investigation of (the) allegations and determined they are false, malicious and possibly libelous," his statement said. The school "is considered the world leader in professional photographic education..." -- Santa Barbara News-Press

 

[Naz]

As this is a thread on how Mr C and i trade i thought i'd show this chart of LEXR.I was doing some live level 2 Nasdaq teaching and this stock was found on a scanner.Decade numbers are important.So we were watching the point where the red arrow was for some minutes.

SBSH who wasn't the axe was an almighty seller at this level.The potential for a short was evident to us both with a really tight stop (under 8c) because the orders were there to execute the trade if it went wrong.The stock collapsed after we had read the screen correctly and then it was pure management.

 

[Grey1]

NAZ

Correct.

I was watching CECO and tried to LONG APOL (its counter part) as soon as CECO allowed to be traded but I did not as CECO plunged further and I thought it would take APOL down too..

Very exciting day

 

[Mr. Charts]

The fall of CECO was not driven solely by that one item of news.
Have a look at my post on this thread at 9.27pm on 17/11/03

 

[Grey1]

MrChart ,

Sorry but when comets hits stocks no amount of Technical analysis signal that ( TA needs history to work and if youhave a look at the previous bars there was no sign of some thing to signal the collapse ) .. One can jump on it and gamble.. You were lucky the trading was not halted while you had a postion on it. The stock could have been opend $5 up and you would have been well out of pocket..

It was a pure gamble my friend.. Very dangerous game to play what you did..

 

[Mr. Charts]

I was NOT referring to TA, although a careful look at the history of this stock and the two major events of the last few weeks would add value and understanding to a fast effective analysis.
Obviously in a panic situation TA tells you almost nothing.
I do not gamble.
I must be one of the very few people to have gone to Las Vegas and not gambled one dime.
What I do is remain calm, focused and disciplined and take advantage when other people lose their heads.
Every single person I have ever coached knows I am completely risk averse and try to persuade my clients to be likewise.

 

[Mr. Charts]

CECO short 41.90

 

[Mr. Charts]

covered half 38.91
for +299cents/share

 

[Mr. Charts]

covered the other half at 39.30
for + 260cents/share

 

[ChartMan]

CECO obviously has no parachute......