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Underexposed - Canadian Stock Journal


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Underexposed - Canadian Stock Journal

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  #461 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

Well as you can see from this current sharpchart....Badger Daylighting is exactly where we want it to be.




See how we are straddling the upperBB today.....see the Slow Sto firmly over 80 and the Slope of the MACD and BBwidth is still strong, with no curl

We are attacking that 200daySMA resistance.... I would expect it to fall some time today

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  #462 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

well the stock has not tripped my limit stop-loss @ $5.37 - $5.39



No guarantees though, it is basically going sideways at present... fingers crossed

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  #463 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


well it took a while but the expected attack at $33.00 resistance is going on right now





Look in that red circle and what do you see??? The price rose high above the upper BB and then pulled back into BB envelope.

If I day traded I would ALWAYS have Bollinger bands in my chart.... when they are tight you know there is action coming...depending on the position of the price versus the 20intervalSMA you can get a clue as to direction.... the MACD may be slow on the uptake but it helps in deciding the direction of the break and the maximum as shown in this chart helps tell the end of a run.

The same principles I have shown you in daily charts also apply in intra-day charts.

We are hanging on now....if we can clear that level that $33.00 will start acting as a support.

Lundin mining [TSX:LUN] is moving around like a blind man with no dog in an unknown place.... it is pacing back and forth around $5.45.... no serious threat to trip the stop-loss but no comfort that it is walking away from it either.

Back to watching...

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  #464 (permalink)
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ....that's what it boils down to
 
jackbravo's Avatar
 
Posts: 1,337 since Jun 2014
Thanks: 4,315 given, 2,388 received

great analysis, and thanks for your continued posts. i've started to use both bb and bb% on my charts as well, though not the macd. i have a macd slope indicator that i built in tradestation, that i've been using instead. i think there's too much going on with the macd as it is.

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  #465 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

Well BAD.TO is back under $33.00




you can see in the red circle the price bounce off $33.00 as a support once but could not handle the second one. Am I disappointed....Hell no....so far it is a $0.41/share gain though it looks like it will fall back to a lower value....maybe not...it could make another try.

What I do like is that now we are within that BB envelope and the indicators don't show a decline...the run continues





I am giving up for the day now...at this point LUN.TO has gained $0.05 to $5.50 so we have another 5 cent cushion...no worries...looking forward to tomorrow though as this is the day when that surprisingly strong resistance at $33.00 may fall for Bad.to

Good trading........

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  #466 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


jackbravo View Post
great analysis, and thanks for your continued posts. i've started to use both bb and bb% on my charts as well, though not the macd. i have a macd slope indicator that i built in tradestation, that i've been using instead. i think there's too much going on with the macd as it is.

you are welcome.

I looked at %B in the past and for those not familiar with it here is a discussion about this indicator

%B Indicator [ChartSchool]

I passed on this indicator as it returns information that I can see for myself in the chart....there is no added value to me.

Reread what I discussed about MACD and its relationship with Slow Stochastics and BBwidth...you may change your mind.... I am glad you are using BB's there is a lot on information to milk from those bands.... essentially that is all I am using in that intra-day discussion on BAD.TO... that and resistance with "un soupcon " of MACD

Good luck....

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  #467 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

well at my last post The price of BAD.TO was falling after having stayed above $33.00 for a while but it fell back and I thought it would fall back a little further .... Well I was wrong hahaha




it came back in the last hour or so to snuggle up to the $33.00 resistance. This is very bullish and as you can see we have breached that $33.00 resistance big time and now that is a $33.00 support




We might fall back to $33.00 later today but I doubt we will breach it again.....we are headed for the next resistance...( next step of the ladder at around $35.00)

the red circles on the left show a very bullish start....the price looks like it wants to re-enter the BB envelope and that normally signals the end of a fine start....but look at the MACD the signal line shows no bearish cross so this puppy has more legs. That is typical of a breach of a difficult resistance...think of it like a dam bursting.

And look at the red circle at the top.... that is the price of LUN.TO where we had set a limited Stop Loss..... NICE GAIN there too. to repeat this is how I like to sell now.... set a limited stop loss which would trip if the stock fell but lives it open to further gains.

My next post will be on Lundin [TSX:LUN] to decide where I will set the trailing stop loss.... don't think I will cancel it totally.

Good trading.........

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  #468 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

Lundin Mining certainly has improved....here is a 5 days intra-day look





it is hard to see but the share price is near the upper high for at least a month. I am going to move the limit stop-loss up significantly to where I show on the chart..... the range will be $5.55 - $5.57 This will give me almost $1,000 profit if it trips but leaves room for further gains.

This is how the stock stands now.




Badger Daylighting has fallen a bit as can see in the box where I had the red circle in the previous post. Still looks fine though. The next resistance at $35 looks tougher to me as it is spread out til $36.00...the real strong resistance comes higher in reality


Having another great day....hope you are too.....good trading

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  #469 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

well so much for wishful thinking...Bad.TO is being bad and dropped back below the $33.00 resistance again {sigh}

When you look at the sharpchart there a signs that this run is starting to end





you can see that the positive slope of both the MACD and BBwidth are losing strength....not severely you but they are now getting less robust.





this stock might rally yet and crawl back to that pesky resistance of $33.00 , looking at all my holdings thre seem to have been a general downturn in prices over the last hour so this really has nothing to do specifically with Badger Daylighting and more to do with the market.

From a daytrader perspective I missed an opportunity to grab that profit this morning. and I suppose that is true but such trading is not for me and I feel that will come back my way again. I have raised that Limit Stop Loss of Lundin Mining [TSX:LUN] to $5.55 - $5.57/share as previously announced so that I will bow out with a decent profit if it trips...that will leave me with the fun prospect of re-assigning that money elsewhere if it happens


These last few days of posting during the day has interfered with my daily routine but it hopefully has been as instructive to you as it has been for me. Unlike Buffalo, NY and areas in eastern Canada and the USA...we have relatively nice weather here for the last few days.... in fact the snow that fell two weeks ago is a day or two from melting away and we are having a pleasant highs of +5c - +6c (42F - 44F) during sunny days which is to continue to the beginning of next week.








look at that....we have the same temp as Arizona or New Mexico and beat most of all of the mid USA.... so much for the cold Canada

And snow depth??? Look at this







now our measurements are in Centimeters (2.54 cm = 1 inch) so my area has 5 cms or about 2 inches of snow

but it is hard to tell from that map if it is 0-5 inches or 50-100 inches..... looking at the news from Buffalo, ny I'd say that region was in the 50-100 inch range

As you can see we have very little snow by comparison....another misconception that we get more snow that the USA...

Now I am not saying it is great everywhere in Canada...the east side is getting worse weather than here...and this weather in Calgary won't last forever....but I am missing it indoors.

A quick look at the charts shows that BAD.TO has recovered a bit and is knocking on the door of the $33 resistance

Anyway....time to enjoy the nice weather....see you in the evening....... Good trading..

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  #470 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


Here is the status report for the end off this week





we are on a roll now with 6 straight positive weeks. Lundin mining {TSX:LUN] has recovered now and even if it turns around suddenly on Monday and trip the raised Limit stop loss we will generate a decent profit. If it continues to rise I will trail the stop-loss after it and eventually it will trip the sale.

Why do I not do this with Badger Daylighting [TSX:BAD]??? Well I see a lot more potential in Badger Daylighting, they own quite a bit of the business in their field (pressure/vacuum trucks) in the oil patch and I see them more and more in cities as well. Lundin Mining is a pretty good stock for a BASE METAL company (Lead, Zinc, Nickel) but demand for these metals is not strong right now so it is a swing trade for me....Badger Daylighting is long term.

the eagle eyed among the readers of this journal, might see an increase in the Cash segment of the portfolio. Where did that come from if we did not sell anything??

Well we are collection dividends....here is the dividend record for this fantasy portfolio





We have collected a total of $1660 and change so far....Some like Algonquin Power which we sold earlier will still give u s a dividend in December since we held it past its ex-dividend date. Dividends represent a significant part of this portfolio. In reality I have a portfolio that is solely made up of high return dividend stocks...it is a tax free account (TFSA) and every dime snowballs.

See you Monday

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