Area51 - You're welcome for TWI, but all kudos belong to you for pulling the trigger and accepting the uncertainty of risk! With that said, TWI still resides in a well defined horizontal channel. Currently it sits just above it's 23.6% retracement level of 11.17. The next target higher would be the 38.2% level at 16.29. I haven't looked or traded this one in quite sometime as my focus has been on the market leaders, so my knowledge of their fundamentals is nonexistent at this time.
I haven't been around SI for some time, but I still monitor the posts of the Paul Sr's Value thread, and Crossy's board via my rss feeds. My time is spent at www.chartpattern.com these days during market hours where I post real time selections of stocks and /ES (Emini S&P500 futures) levels in the main IM chat room under the moniker "spm." I became a member there a year ago as most of the prop traders and hedge fund managers there are fellow IBDers. As the name suggests we are all pattern traders, so it made sense for me to be there. I absolutely love it! We catch the movers before they go, and we get out before they fizzle out. Let 'em rest.... set up again... and then get 'em again. Wash, rinse, and repeat. Our "bible" is How To Make Money In Stocks by William J. Oneil.
Along with market leading stocks my passion has become trading the Emini S&P500 futures. While I'm not swinging 200 lot positions like some of my Chicago friends the cash flow that is and can be extracted from this very liquid market is phenomenal. I use Ben Lichtenstein's pit squawk during market hours (www.tradersaudio.com) which happens to be free via the market cast chatroom of Think or Swim's platform. I use Infinity futures dome for my execution. Their feed is direct to the floor, so it's actually faster than TOS's chart! So I use patterns intraday on the 5min chart along with the audio to gauge what the locals and paper (institutional players ie: GS, MS, JPM, ChiCorp, etc) are doing. You'll find that this market is the tail that wags the dog of the US stock markets.
**Here's the audio from the flash crash: youtube.com
To say the least this was a crazy day. If interested in this there are 6 tutorial videos to explain what you're hearing. Pretty much like listening to a cattle auction all day! I'm used to it now.
If you check out my blog at www.tcmllc.blogspot.com you can view my shared items which are articles selected from my google reader. My twitter feed is also available there as well. Just recently we've seen the QQQQ and QLD have a 10/240 simple moving average cross over which can be a prelude to a larger trend as put forth in a study done by my friend Easan Katir. The link to that white paper can be found on my twitter feed. That simple 10/240 cross over can be applied to any equity for that matter and can save you from disaster on a stock that's trending the wrong direction.
knol.google.com
Some names I'm trading and watching now: FAS, ARUN, LULU 43.47 dbl btm buy point, CTSH, SAM 73.10 dbl btm buy point, NTAP, FFIV, TGH, TSL, VMW, NZ, VIT, ROVI, SPRD, MMYT, ISLN, BIDU, AAPL, AMZN, WYNN, NFLX, WLT, CGNX, UGP, RVBD, GWW, SRCL, INFN, TMRK, MSB from 25.87 cup w handle buy point, AKRX, JKS, MCP, REE, CYT, DHI, MTH, KBH, ITB, SOLF, JASO, HOOK, BORN, CIS, TMV, TBT.... and many more.
I like to scan the charts within the 52wk high/low list in IBD to see who's moving, and setting up a new base. www.finviz.com is another free site that has an excellent screening tool for finding the movers.
I looked at your stocks you mentioned, but none of them currently fit my criteria for a buy. Keep up the good work, and kudos again on a nice 47% gain!!!
Best Regards, JT
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** For my broker assisted account that's at MS here in Memphis I'm doing their trend following system. They are using Dorsey-Wright's RSI based system. Currently the system is 50% foreign stocks, and 50% cash. The break down of my holdings there as of now are: CNDA, ECH, EWS, TUR, EWW, BRF, EPI, THD, RSX, IDX, and cash balance is in SHV and BIL.
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