Excellent TheApprentice. Bravo!

This is what I love. You are answering your own question. Brilliant.

Your analysis is correct. That is why I am selling. My BOP went red that is enough to turn a pretty chart into an ugly chart. I don't like to stay long 100% of my original position once a chart starts to get ugly. I take caution. But since this was such a nice job of support I am only selling 25% of my UARM. The chart appears to have a very high chance of fixing itself.

Great company, great fundamentals, good chart, and great products. I use their stuff. Great athletic wear.

Josh, what do you think about lbix ?

I like it a lot!!

Very pretty chart. Very nice recent base. If it bases for another two weeks just like it is--nice and flat and quiet--I will be buying me some LBIX. But for right now the darn stock is way too volatile and I can see it dipping to the 50 dma and driving me nuts. I think it is best to wait for the breakout from a longer basing pattern (NOT THIS ONE--too short) or buy it on a low volume dip right on the 50 dma.

look at my BSML right now. If it looks like that then go long. But right now LBIX base is too short.

Thanks for the insight

You are very welcome.

Hey Josh, take a look at this one. AXE.

Was AXE forming a cup with a potential handle (we'll see today movement, the handle is not formed yet.)?
Or the right side of the cup is growing too fast. If not, It could be a potential Cup with Handle pattern.

A reason to have AXE on screen.  

ciao
D.

Hey Josh,

Several questions.  Btw, love the books on jesse livermore..  

What do you think of FTBK on a pullback to $36 or it's 50dma?

Is $31,10 the correct pivot for TWGP?  

And what is the correct pivot for UARM?  I believe it's currently forming a base-on-base pattern.  Could the pivot be $43.60.  I bought it earlier when it broke $41.54 but I got stopped out when it dropped below 8%.

Thanx Josh

Just sold flag, I catch this right after the base.  What will you do if it run from 21 to 25.2 in just 4 days in my situation ?

What do you think about sjr ?

I have this as in my long term position, based what Josh just described:

just IPOed

I will sell it when I see it build retail stores across the country

Thanks Josh

A new stock is now on my radar screen this morning IGT

"The Big Picture" stated this morning how this stock has more than held its own the past few months. The chart is forming out what appears to be an 11-week cup formation starting in May. I'm now waiting to see the handle followed by a breakout on above avg volume...

IGT has weaker EPS and Sales % than I'd like to see (70 overall rating) but if I've learned one thing it is not to argue with the market or try to figure out WHY a stock is moving the way it is. Does this look like a possible cup w/ handle to you?

Pivot price of 39.08 - little help from MarketSpeculator on that one

IGT Chart attached

Sorry - no high tech chart service for me. My college budget is thin enough as it is so for now it's stockcharts.com for me!!

Also, how about BVN?

Great stock fundamentally but the chart has been a see saw ride as of late. Is the big jump today a reason to believe the 50dma will creep up again? Looks more like an 'exhaustion gap' to me...

AXE: could very well potentially turn out to be a very solid pattern.

Mike....Yes to all of your questions!!! LOL.

SJR is nice

The Apprentice. I am already long IGT. Read my blog.

BVN??? really??? You want to play that chart. Isn't that chart a bit choppy, ugly, disgusting, and sad? I think it is. Yuck.