Simon's (and everyone's) Breakout Thread II - Page 189

Quote:

Originally Posted by RebelT09 

Hey Simon,

I was pretty bored and did a quick scan. Was wondering if you wouldn't mind giving these a quick view and list any thoughts.

ALXA
APPY
BHH
PLUG
PRKR
RTK
SBCF
NGAS

Thanks!

While any of those I can see potentially having runs to them, there are a few that do catch my eye more than the others.

SBCF look bullish and has a nice triangle flag setup, and overall it's not up so much to scare me off.

RTK made a big move in Sept and Oct but has consolidated real nicely since then and has a nice base to breakout from potentially. Draw a trendline from the last three tops, starting with Dec's, and watch for price to break that even somewhat convincingly.

APPY isn't really my type of setup, but I certainly see the potential there and the recent month's price action is looking bullish and tightening up a good amount.

My issues with the others are that either they're up too much or they're too close to their recent downtrends and haven't consolidated enough.

Quote:

Originally Posted by RebelT09 

I really appreciate the response Simon. I'm trying to add pennies back into my trading repertoire and whatever I can do to acclimate myself to the best setups, I'm going to try to do. And heck, I'm hopefully bringing a couple of great setups here and there to light.

Sounds good, and I certainly like when people bring nice setups to my attention. Pennies can get a bad rap and if you don't know what to do, they certainly are dangerous vehicles to try and trade. However, after trading all the popular markets out there, I've come to the conclusion that pennies can offer some of the best risk to reward ratios out there, not to mention that they can be pretty darn predictable, relatively speaking at least. So while liquidity may be an issue at time, that doesn't mean that you can't still make respectable money off of them. I know you've been around the block many times and just from looking at your setups here I can see you've got a good eye for them. Good luck incorporating them back into your trading and I'll be sure to keep this thread updated with what I'm looking at and playing.

CPRKQ, NXTH, and PSWS are probably the three I'm highest on right now, but the rest of my main list is BCLI (too late for a good entry), BIEL, VASO, BOCL, AEXP, and APCVZ.

Quote:

Originally Posted by OldFart 

AULO?...A litttle out of practice, so I'm sure Simon will smack me in the head a couple times if I'm wrong...LOL

Ha! No smacking allowed in this thread, so you're safe. That's one of those charts that has a nice look to it and could very possibly end up making a big run, but the lack of volume is a problem. You can see that the candles are wide and have been all over the place, and one of my criteria is that the candles need to tighten up and the price needs to consolidation for a long period of time. This won't happen on low volume stocks with wide spreads, which makes playing them too risky for me (until volume comes in and price starts to trade differently). So not a bad looking chart, but just not what I like to look for. And after 5 years of trading this method, I've got my preferences whittled down to a very fine point and honestly 99.9% of setups out there won't meet what I look for, so don't feel bad. I'm always willing to evaluate a setup and give you my opinion based on my particular methods, but hopefully no one is offended because it's not a setup that meets what I look for. My motto is that I'm willing to pass up many potential winners if I don't feel the odds are good enough, just as long as my own winning % is high.

Quote:

Originally Posted by OldFart 

thanks for checking it out simon.....I almost put in a small amount for monday.

Well remember that just because it doesn't meet my specific criteria doesn't mean that it can't be a profitable trade. I've gave up a long time ago trying to predict what each and every stock is going to do, and instead I only focus on the very small amount of setups where I have a good idea of what I think will play out. This results in lots of passed up trades that end up running, but it also results in many passed up losing trades too. In the end I just care about making money consistently, but catching every runner isn't a requirement for that. AULO may or may not run from here, and like I said there are aspects to it that I like, but it doesn't meet my own personal criteria.

Quote:

Originally Posted by simonyadig 

Ok, going to get this one going again, or at least make a half assed attempt to. APCVZ was a beautiful breakout setup that I caught this week, first one in quite a while. I'm out of that one now completely, but am watching how this flag continues to play out. If I had more money to toss around, I would have left some in it, but gotta allocate wisely atm. A couple other setups that are real nice looking and close to popping possibly are CPRKQ, with the trigger being .0024, and NXTH, with the trigger being .26 - .27. PSWS is also an honorable mention, though I'm now looking for more consolidation to play out on top of the 50 MA before I expect another possible run.

 

 

CPRKQ

 

 

 

 

NXTH

 

 

 

 

 

 

CPRKQ hitting .004s this morning.

Quote:

Originally Posted by RebelT09 

Didn't really like that big red candle yesterday, so I didn't put any money into it. Had a nice pop this morning, but man what wick that formed today. Lot of profit taking.

I'm thinking you're talking about CPRKQ, but not sure what big red candle you're referring to, since it hasn't seen one in months.

Edit: Maybe Wednesday's candle, but that one was on super low volume and the day actually closed positive, so not technically not a red candle.

CPRKQ has sold off from it's highs today but we'll see how it closes. I unloaded some into this morning's strength but am holding the majority to see how it plays out. Long upper wick at the moment, but even if it finishes the day like that, I'm not inferring that to be a complete reversal, but more an indication that there's consolidation ahead.

AMEL is a setup that I'm watching closely here. RSI is at new recent highs with MACD angling up for quite some time too, and now the price is looking like it's going to confirm those indicator's bullishness. The key resistance right now is .30, give or take a penny, so I'm watching to see that get broken.

Quote:

Originally Posted by Mr.Sono 

good stuff, I been watching anpiq for a while. any pointer can you give on this one.

Sorry, don't really have any pointers on that one. I guess I can say that with the price coiling up recently, you can wait to see if the recent swing highs get taken out, then that could be a signal to buy, but I really don't see any clear cut signs telling me it's a good trade. My philosophy is to find the few setups that offer a nice setup with high odds of running and favorable risk to reward, then simply ignore everything else. This ends up with me ignoring 99.7% of the charts I see, since I feel like I don't have any advantage with them.