Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

A Wyckoff Student Notebook

Discussion in 'Trade Journals' started by Onepoint272, Apr 27, 2016.

  1. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    QSR fell thru short-term ICE this morning and just a bit ago did some weird sort of flash crash, a running of the stops perhaps. I sold on the rebound for a decent gain. By the way, that downdraft hit bottom within a couple dimes of the intraday PnF downside count projection.

    The downdraft could be a shake-out but I think with that kind of supply coming into the market it will need to get re-tested. May look to buy back on a retest.

    10-minute bars:
    upload_2019-8-8_11-44-55.png
     
    #761 Onepoint272, Aug 8, 2019
    Last edited: Aug 8, 2019
    OldFart, bigbear0083 and T0rm3nted like this.
  2. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    561
    Likes Received:
    554
    Whoops, accidentally left off SBUX ...... still holding that one too.
     
    OldFart and Onepoint272 like this.
  3. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    You know, I was actually looking at AMD the last couple days but kept coming to the same conclusion... It hasn't built enough cause. It hit it's downside short term target pretty close but hasn't had enough time to be prepared. Long term it still has cause to $49 but something tells me the boyz were not ready in the short term and now all the hillbillies have jumped into the stock. I dunno, it'll be interesting to see how this plays out.

    65-minute sticks (~1:45 CDT):
    upload_2019-8-8_13-44-13.png

    EDIT: The note on chart should say: "Failure to reach the Overbought line of uptrend channel."
     
    #763 Onepoint272, Aug 8, 2019
    Last edited: Aug 10, 2019
  4. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    561
    Likes Received:
    554
    $FMC with the nice kiss and bounce off the creek today. @Onepoint272 I'm guessing this is where the CM is making life hard on shorts to cover?

    God I wish I had an order there. ATUS has become such a grinder and looking like it needs to build more cause - so thinking I should liquidate it for FMC.

    FMC8-8.JPG
     
    #764 Rock Sexton, Aug 8, 2019
    Last edited: Aug 8, 2019
    OldFart, Onepoint272 and bigbear0083 like this.
  5. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    6,676
    Likes Received:
    1,796
    Are you calling me a hillbilly!?
     
    OldFart likes this.
  6. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    LOL. No, I've been by where you're from many times and know there's a severe shortage of hills.:D
     
    OldFart and T0rm3nted like this.
  7. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    Looking at AMD with 10 minute data and a 10-cent box and a liberal count you can just about justify a slight oversold condition. Still though, it will need to build some cause to move higher I think. But hey, if the news is really as big a game changer as they say and it caught all the institutions and boyz in the know off guard then I suppose all the counting in the world won't mean a thing. This method relies on the assumption that the markets are manipulated after all.

    upload_2019-8-8_14-52-17.png
     
    #767 Onepoint272, Aug 8, 2019
    Last edited: Aug 9, 2019
    OldFart, T0rm3nted and bigbear0083 like this.
  8. Unicorn Dreams

    Joined:
    Mar 31, 2017
    Messages:
    45
    Likes Received:
    32
    Well I can finally drop the act. Naw use a-denyin' it. It's tahm ay come out clean. I'm one ave dem hillbillies.
     
    OldFart and Onepoint272 like this.
  9. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    I'm sure y 'all realize there was no offence meant as I'm part hillbilly myself and just trying to point out that the public is likely heavily involved in AMD. I would have preferred to see this kind of move from institutions without all the hoopla and the public get involved on a break from the range; it makes me cautious wondering if they ran it up to sell it once again. But AMD has always proved difficult to get in to for me, so nothing new there, and I want it to correct to an LPS so I can make a calculated entry...but it may not work out again.
     
    OldFart, Unicorn Dreams and T0rm3nted like this.
  10. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    So Restaurant Brands International (QSR) came out with news and as usual the news lags the price action...somebody always knows.

    TORONTO , Aug. 8, 2019 /CNW/ - Restaurant Brands International Inc. ("RBI" or the "Company") (TSX/NYSE: QSR) announced today that Restaurant Brands International Limited Partnership ("RBI LP") had received an exchange notice from HL1 17 LP, an affiliate of 3G Capital Partners Ltd. ("3G Capital"), to exchange 20,000,000 Class B exchangeable limited partnership units (the "Exchangeable Units") of RBI LP. RBI LP intends to satisfy this notice with the delivery of 20,000,000 common shares (the "Exchange").

    I'm so glad I don't have to try and figure all this out and then form an opinion on it, and that I can just follow those who not only really know what is going on but also have the capital to move the price where they want it to go. Now I can just sit back and wait for another set-up.

    10-minute sticks:
    upload_2019-8-8_23-31-33.png
     
    OldFart and T0rm3nted like this.
  11. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    The continuing saga of QSR (mother company of Burger King, Tim Hortons, and Popeyes):

    10-min bars (~1:45 CDT):
    upload_2019-8-9_13-57-46.png

    EDIT: The note should say "Unable to reach Overbought line"
     
    #771 Onepoint272, Aug 9, 2019
    Last edited: Aug 10, 2019
    OldFart, bigbear0083 and Bodacious like this.
  12. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    561
    Likes Received:
    554
    The market jumped all over those discounted shares today. This week's volume is HUGE.
     
    OldFart and Onepoint272 like this.
  13. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    Thanks Rock, that is noteworthy and I neglected to point it out. I think the boy scout who fell thru the ice found the bottom of the pond, SC is in and maybe the AR now also. I may keep monitoring to catch the ST.

    In other QSR news there were multiple upgrades prior to the dilution announcement and the vegans are all upset with Burger King's introduction of the "Impossible Whopper", some Beyond Meat deal. Seems the vegans don't like that it will be flame broiled on the same broiler as their animal protein-based whoppers so its not really vegan. Of course BK never said it was a "vegan" burger. Excuse me, but who are these estrogen-rich outliers who write these articles? In the end though, if you'd been following the news, the upgrades, the vegan problem, you'd have missed it by not watching the chart. I picked up a copy of Benjamin Graham's "The intelligent Investor" at a library sale since its been a while since I've "tried" reading it. What a rag. Maybe I can get a few bucks for it on eBay.
     
    OldFart and Rock Sexton like this.
  14. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    6,676
    Likes Received:
    1,796
    Consider me deeply offended.
     
    OldFart and Onepoint272 like this.
  15. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    I'm offended by AMD. I keep missing out. Soon it will be up to my long term target and I won't be on-board. I remain hopeful it will let me in next week.
     
    OldFart and T0rm3nted like this.
  16. rStock

    rStock Well-Known Member

    Joined:
    Sep 27, 2016
    Messages:
    755
    Likes Received:
    380
    Are you still holding ABBV? it makes a move ...
     
    Onepoint272 likes this.
  17. Onepoint272

    Onepoint272 Well-Known Member

    Joined:
    Apr 26, 2016
    Messages:
    1,459
    Likes Received:
    1,628
    Yes I am. Wow, good eyes, I thought it was a sleeper. Thanks. I wonder what's up with that?
     
    OldFart likes this.
  18. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    561
    Likes Received:
    554
    @Onepoint272 thoughts on NVTA's post-earnings finish this week? I feel like it's signalling to me more cause needs to be built out. Kind of irritated I didn't take profit at $29.00.
     
  19. Rock Sexton

    Rock Sexton Meat Popsicle

    Joined:
    Apr 6, 2016
    Messages:
    561
    Likes Received:
    554
    Personally I can't wait to try the new Impossible Whopper.
     
    Onepoint272 likes this.
  20. AdamJoseph

    AdamJoseph New Member

    Joined:
    Feb 3, 2019
    Messages:
    10
    Likes Received:
    14
    E8F1DE05-8C43-4430-AC92-A8BD3CEB81D7.jpeg I drew up a weekly chart of HSBC, looks like a breakdown is confirmed this week..not surprising given the situation in HK/China.
     
    Onepoint272 likes this.

Share This Page