Crossing the Rubicon?

Alok, who I'd link to if he had a blog (hint, hint), brought up Rubicon Minerals Corp (AMEX: RBY) the other day on my blog and I drew the fibs just as a "study," for my own purposes. Revisiting it a couple of days later, I'm again fascinated by the behavior of even these small cap mining stocks in respecting their Fibonacci retracement lines.

While I am in no way recommending this stock, I may "play" it, just to experiment with some theories I'm working on regarding volumes and fib lines. For example, if this little guy punches-- with volume -- through this 23.6% retracement line (at $2.27) it's currently hovering just beneath, I may make a small purchase to see if it will achieve its full retrace of $2.83 (last visited on 4/13).

Judging by the volume associated with that April high, I think it's going to take considerable momentum to get past $2.83 here, so I may sell and wait for a pullback if it hits that target. Right now I'm really just trying to "learn" through observation, and I'd like to encourage folks to do the same in the comments section here. How much do you rely on fib lines in your trading, for example? How reliable are they in your experience? Which types of stock or sectors are best predicted via fib lines? All of these questions are on the table, and I'd like to hear your thoughts...

I Want My Wide Screen... at a Price!

Here's one I've been looking at recently:

BRLC, or Syntax Brillian Corporation, has a funny name, but an interesting goal... to become the best quality "at a price" vendor of LCD and rear projection monitor televisions for the retail home owner. They currently manufacture their products under the brand name "Olevia" and are available through major retailers like Circuit City and Target Stores. I urge you to attend to your own due diligence, but I like these folks' growth trajectory, and I like their niche. It also doesn't hurt that there's a report out that as much as 40% of their float is now short (maybe not as much after today's rise). Short squeezes sure make for fun trading opps, don't they?

Nothing new tonight...

Too busy watching my beloved Giants at the NFL Draft this weekend... Who'd they get this year, you ask? Why another collection of reaches and malcontents, of course. No, not really. I like the first, pick, the Jim Thorpe Award winner from Texas, Aaron Ross. We should see some picks from him this year.

And even the second round guy is not bad, Steve Smith from USC... a little bit in the shadow of Dwayne Jarret this year, but I think a better route runner.

What kills me is they needed to draft OL, and they waited until the sixth round to grab some undersized guy out of Oregon State... yeesh. I love draft day, but it's almost always bittersweet for me.

If you're interested, here's who the Giants drafted this year, and here's the Draft Tracker for you to check who your team managed to grab as well.

Cheers to all.

Whose Ya Nannie?

Alok asked me to take a look at Nanogen (NASDAQ: NGEN) for a possible buy this week. I did, and commented to him that I thought it might be a bit early yet. I've posted an annotated chart, and I hope it's not too "busy" for folks to understand my arguments here. I think NGEN is too early for a trustworthy entry at this point, having only recently pierced that first (blue) resistance line at $1.77, and on so-so volume. The good news is that there was heavier volume preceding that resistance break (which shot the stock to the resistance line, but not through, you'll note), and there may be more to come. But with another large amount of noise at the $1.90 level-- as shown by the green box in my chart above, I would hold off, discretion being the better part of valor and all that.

This is not to say NGEN cannot be a profitable play in the very near future, or even that it may not blow past all that resistance at 9:31 tomorrow morning. I'm just attempting to encapsulate some of the advice I've gleaned from traders far more experienced than me -- that it's always the better odds move to wait on confirmation for even the surest positions. Good luck this week, people.

sNAZzy Fibs!

This is for my boys over at the Beanner's blog, who are looking at the NDAQ for a swing trade. I've seen few stocks respect their fibs like this one, so I figured I'd show it... you can see that as of late afternoon today (Friday, April 20th), NDAQ is just above it's 50% fibonacci retrace, and it looks like it'll hang on to stay above it, which is encouraging.

Some more pictures...

In the style of my friend the Goddess, I am going to feature a couple of pics... of STOCKS I like.

You were expecting something different? Fuggedaboudit, there's only one Goddess, and she's unique.

Anyway, I like ADCT here, primarily as a takeover play... I just don't think they have the stuff to stay independent, and it looks like SOMEONE likes them at these prices.

As well, take a look at my Israeli friend, ALVR... also looking nice on the WEEKLY chart (which I find to be more useful for long term turnaround plays). As always, don't even think about trading on these ideas, unless you've consulted a good psychiatrist and/or Warren Buffet.

One of these days...

One of these days, I'm going to figure out how to post my charts along with my babble, and then you'll all be sorry!

Thanks to a M.A.S tutorial, I can at least get the basic HTML links working. Click on that link and you'll see he's posted some pics of himself. (No offense, M.A.S., but is #2 your sister, or what?)

What's up this week? Well, we are getting real close to a lot of retrace goals that will bring us back to Feb 22 levels, and I can't say I'm not keeping a wary eye on that fact. If you can do the fibs from the Feb 22 drop to the March 14th or so bottoms, you'll note we are at the 78.6% retrace line for the DIAmonds, and very close to closing a gap on the Q's that will bring us to that same 78.6% retrace. A power through these lines would be okay, but likely to give us some agita when we get to the full 100% retracement to the old Feb highs. That's why I'm hoping for a little digestion at these levels (sans agita), before we get the mojo working again.

Individually, I'm still hanging on NYX, even though I'm out of most of the position. No one needs to tell me this is a bad trader's decision, and I should have cut bait on the whole thing -- I'm a schliemiel, what can I say? As well, I've still got a bit of MEMY left, and picked up ONT and ENG positions this week to augment my BHP pick up from last week. Anything new, I'll likely add to comments. Have a good week folks, and watch those fibs -- the don't lie!

Badump-cha!

Hold the phone! MAS has furthered my instruction, and let's see if it works with another pick I've been watching... Smith & Wesson Holding Co. (SMHC).

Okay, Okay, I got it up, but haven't figured out how to get it down here where I wanted it... oh well.