Marketgeometry

Wednesday, August 29, 2007

Wednesday Morning Thought 8/29/2007



No thoughts or trading today - I am going to the US Open with the wife.

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5 comments:

Jade Money said...

Good morning Jeff,

You know I am long term invester/trader. I am trying to build on my experience with charts. One stock in particular that I went long on was SAM. It has performed well for me and yesterday say a 7% gain on above average volume. (Which I might add is very thin.) Well needless to say I put a short term target on it to sell. Bulls make money, bears make money and pigs get slaughtered.

But in my efforts to educate myself, I wouldn't mind a little chart analysis on it...in your spare time of course.

Oh and BTW, I hold only myself accountable for my actions. See what you think. There may be nothing there.

All in all have a great day,

Jade

August 30, 2007 at 8:39 AM
Denarii said...

Jade -
I do not know where you bought at but the chart looks great. However the volume on each new high has been decreasing which is a sign the stock is getting tired. On the otherhand it was shown strenght while the general market sucks. I do not know your timeframe - the stock has been in a long term trend up since 2000. I am not knowledgeable on the fundies on this one at all. The beer is good too.

August 30, 2007 at 2:11 PM
Jade Money said...

Hi Jeff,

I meant to get back to you earlier on this but work comes first. I got in just before the last earnings release. In fact I saw about a 10% pop in one day. Kind of kicked myself momentarily for not taking the trade. But being that as it was I could have made the same trade over the last few days.

I am trying to get use to recognizing Wedges, Flags, Pennants, Eve and Eve tops and bottoms etc. Support and Resistance are a lot easier to recognize and I was kind of looking for that in SAM today after yesterday's move. I wanted to suggest that I saw possible support at $48.00 and I like the way today closed above that on weak volume. I think yesterday's volume/price move and today's volume/price move say a lot going forward. But I am a Fan of Ken Fisher's Book... The Only Three Questions that Count. And the big one is What is my mind doing to trick me now? I like to believe that when big money is moving into a position, they do it slowly and try not to draw too much attention to themselves. I would like to say that yesterday money was moving in and today's weakness was the cooling off period before more moved in. I could be wrong,(After all, if I am thinking this, isn't everybody?) but fundamentally I think I stand on pretty solid ground as I see SAM as a well managed growth company.

Thanks for the input.

TTYL

Jade

August 30, 2007 at 5:30 PM
Denarii said...

Jade- just remember right now the big money is at the Hamptons or at the beach for the last two weeks

August 30, 2007 at 9:15 PM
Jade Money said...

Funny....but sooo true.

Have a great day.

August 31, 2007 at 10:47 AM

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