Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: hubris33 who wrote (9580)	5/8/2006 8:56:10 PM
From: sixty2nds	Respond to of 13449

H3 here is my original EP trade plan post #9541. EP...Intermediate term.... 1/2 position GTC Buy stop entered @ $13.80 stop order to be placed @$ 13.25 which is yesterdays low. Note on MVL I used the entry days low and got whipped out on the Piper downgrade. That should not happen today. I want P to break over the top of the recent highs +/-$13.75 if/when order fills. The daily chart - the 20,50, and 200 XMAs are in bullish alignment. The weekly chart 20XMA > 40XMA. This position has more potential than the MVL trade of yesterday. Money Stream is in + divergence on the weekly, 3,2, and daily Time frames. EP has been in a trading range of +/- $12-14 since Dec '05. There is a high probability of a wild day for EP on the following earnings report 07:23 EP El Paso reports Q1 results (13.49 ) Reports Q1 (Mar) earnings of $0.52 per share, excluding non-recurring items, $0.26 better than the Reuters Estimates consensus of $0.26; revenues rose 40.7% year/year to $1.53 bln vs the $1.30 bln First Call consensus. .20.........In addition the CFO hits TV @9AM. Intermediate term target range $15-19

To: hubris33 who wrote (9580)	5/8/2006 9:27:03 PM
From: chowder	Read Replies (1) \| Respond to of 13449

Re: EP ... >>> Does 'professional' money chase these breakouts or do they wait for a pull back before entering? <<< Professional buying caused the break out. Whenever you see a wide range, "high volume" bar, like we did yesterday, it's confirmation of professional money taking the stock to the next level. That professional gap should serve as support, hence I am taking a longer term perspective with EP. Daily Chart: stockcharts.com The monthly chart shows some resistance between $18 and $20, then there is a lot of potential to move higher. Monthly Chart: stockcharts.com This type of set up usually works best when you have a trailing stop that allows a little room to maneuver. dabum

To: hubris33 who wrote (9580)	5/8/2006 10:14:15 PM
From: sixty2nds	Read Replies (1) \| Respond to of 13449

H3 First, congrats on a great start on the swing trades. Seems you have found a trading time frame that works for you. Remember swing trades are short time frame trades, lasting days. I prefer to trade Intermediate time frame. The stops will be tighter swing trading than in intermediate time frame trades. Keep in mind EP gapped up significantly Friday before the bell on the earnings news. I prefer NOT to play earnings. That said, I almost bought EP last week..ignorant of the earnings date. Combine that with being "in the right place at the right time" when the earnings news hit...I bent my rule. My fill was at $14.73 My buy stop was $13.80 with a stop loss to be set at $13.25 Yes, as of the close today the position is +7%. Yes my current stop has me losing .23/share. Consider this - I have eliminated $1.25/share of my initial target entry risk. I want a spot that will let me stay in the game. I'm working toward my 2nd target $19. I chose Friday's low of $14.50 for my stop. I'm guessing a short term trader would have chosen today's low of $15.18 instead. The strong close today IMO indicates a strong open tomorrow. I will be watching tomorrow. I will evaluate. I might move the stop up. I might sell, taking the quick profit. Volume ?s. Again, keep in mind I am looking at volume on weekly, 3 day, and 2 day charts as well as the daily. H3, trust me. I do not intend to let an EP profit turn loss. My profit taking rules do not kick in until +10%. If this doesn't explain my thought process on EP I'll try again. Good trading to all, 60