HCPG Blog

An educational blog which supplements subscriber service Chart Patterns are nothing but Footprints of the Greenbacks.

Saturday, May 01, 2010

Basic Material Disaster Screen

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Here's a list of basic material stocks down 10-20% for the week.   We think the sell-off is getting short-term overdone and will be loo...
Thursday, April 29, 2010

A failed support long trade

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One of the rule of thumb rules of support buying is you want heavy volume when trading breakdown/breakout but light volume when you buy supp...

Overshoot Strategy, Again

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We've discussed the overshoot strategy in previous posts but it's always good to review it with real-time examles: So here's wha...

Daytrader Talk - Buy first test, short second

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Very good examples today illustrating something we've talked about for years: first test of support is a buy (in a bull market), second...
Wednesday, April 28, 2010

Triggers for today

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So far we have had a small day-trade in a short, one break-out starting to work, and three bounce support trades work well. As we wrote in ...
Tuesday, April 27, 2010

New position

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Our only position long, posted today at 2:40PM (average 113.88) in anticipation of the 114.2 break-out. Love the chart, will add on pull-ba...

Daytrader Talk

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For as long as it works we will buy support in pull-backs. Couple points in buying pull-backs: 1) stock should be oversold when it hits su...
Friday, April 23, 2010

New Positions

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Update: out of all positions April 27 Our day-trade account time-frame is pretty short these days since we're seeing failures in extend...
Thursday, April 22, 2010

Triggers

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Incredible tape/strength in the market today -- we had three triggers, all break-out, and all worked nicely. ICE we had alert 115, but noted...
Wednesday, April 21, 2010

Back to a stock pickers market

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It seems that the era of the "easy tape" is over for now and we're back to a stock-pickers market. This means that traders wi...
Monday, April 19, 2010

Bulls owned the market today

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One of the first signs of a true change in sentiment is simply this: support fails to hold. Today was a fantastic day for buying support ...
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