Quill, Arindam,
stock: RES
Let me know if I have this right for this stock: I came across this completely by fluke…but saw it had high bullish ratings ( I now understand that analysts bullish ratings mean NOTHING!)…However, its numbers, from what little I know, seemed okay (Arindam, may be you could see if your simply wall street rates this well)
Anyways, I wanted to see what the chart looked like
Charlie,
SWS likes RES.
BarChart (the website) says to sell it. But I’d be in there buying it. That’s a solid, clear cut chart.
Suggestion: Also look at NEX. Also, think about the fundamentals underlying the trade. Why is the price of oil down? What might keep it down for a while? Therefore, don’t bet the farm. Leg into your position(s) in small steps and be prepared to be underwater for a while. Also, if you’re options savvy, see what those boys are doing. Buying calls might be a better bet than buying the underlying.
Re: NEX
Re: RES
Let’s review the charts for both and place the little mouse 03/17/23.
Okay Grasshoppers what shall we do. My mind is on autopilot and react. Boom Boom done executed.
If you are concerned that it might head south, place a mental stop 1 cent below the Arc or smiley face and call it a day, but the Arc will then drop down to it’s new low. we call it a head fake. If you place a loss order that the MM boyz see, they will drive the price down and steal your money.
The TSI signal will come around and will soon xover.
The following chart I use to plot by hand on graph paper for 45 years.that was taught to me by two (2) Investment Bankers while caddying for them on a private course. I got all my information from Media General newspaper and listen to the radio. I used a 3 by 5 index card specially marked to pin point my marks I was looking for. Had to slide the card down slowly on each page.
a little history Media General - Wikipedia
During the late sixties, as a chip designer I had acces to the old green HP oscilliscopes and the old Digital (DEC) computers writng codes that read paper tape and plotted them on my cutting machine that cut rubylith ( a form of silk screening) and attached a pen instead of the blade. Some people call Rube Goldberg minus the ARCs. You guys get spoiled reading charts in living colour. Ya can’t teach an olde Dawg new tricks. :o))
Re: NEX
Re: RES
Let’s review the charts for both and place the little mouse 03/17/23.
Okay Grasshoppers what shall we do. My mind is on autopilot and react. Boom Boom done executed.
If you are concerned that it might head south, place a mental stop 1 cent below the Arc or smiley face and call it a day, but the Arc will then drop down to it’s new low. we call it a head fake. If you place a loss order that the MM boyz see, they will drive the price down and steal your money.
The TSI signal will come around and will soon xover.
The following chart I use to plot by hand on graph paper for 45 years, that was taught to me by two (2) Investment Bankers while caddying for them on a private golf course. I got all my information from Media General newspaper and listen to the radio. I used a 3 by 5 index card specially marked to pinpoint my marks I was looking for. Had to slide the card down slowly on each page.
a little history Media General - Wikipedia
During the late sixties, as a chip designer I had access to the old green HP oscilloscopes and the old Digital (DEC) computers writing codes that read paper tape and plotted them on my cutting machine that cut Ruby Lith (a form of silk screening) and attached a pen instead of the blade. Some people call Rube Goldberg minus the ARCs. You guys get spoiled reading charts in living colour. Ya can’t teach an olde Dawg new tricks. :o))
Ya wanna see an ugggggly chart and we are supposed to buy a stock right out of the gate or sell the stock at the Finish Line.
Now look at what a kewl swing trader can show you what to do on 3/16/23.
Thanks Quill and Arindam…this is super helpful!
I was talking to someone and they said that NEX drill rigs are contracting with Exxon EOG (I think) and staying busy. Been watching that one for a while…doc
edit: Another thing, I was wondering if you all would consider to wait until after the FOMC meeting to buy anything in the event the stocks might drop more after the Fed acts.
doc,
Why “watch” NEX instead of making a bet on it, which would have paid off handsomely this morning? Also, this time around, there’s no need to stand aside to see what the Fed is going to do, because he’s said what he’s going to do ,which is to keep raising rates. Had UBS not bought CS, hence, removing that uncertainty and risk of contagion, it’s be different. But the broad market wouldn’t be rallying this morning if anyone were worried about tomorrow.
I’m still learning and try to watch the news and upcoming events around the time I put cash into the market. After I see what the fed does will be for me the time to buy NEX and RES…doc
edit: Simple Simon trading method
