Bob whats your view on PIRS ?? After hours down but chart looks very bllish and on an uptrend

Forgot to mention uptrend with volume

Yes, they announced a $40 million financing in the low $8.00 range. So the market will have to digest that before heading higher.

http://bit.ly/2oZVJz7

@Turbobob Hey Bob, I am interested in how you estimated the top of the channel for ACBFF. I went long on the breakout over 5.45, with the conservative goal of the stock testing the round number 6.0. Normally, I have patience issues holding a stock on a clear sky breakout, so your method of estimating price levels overhead in such a situation would be extremely helpful for me. Much appreciated!

The measured move comes from the break out above $2.34 to $5.45 ($3.10). Add that to the pull back low of $4.00 and you get $7.10. So, my price target is in the $7.00 to $7.50 range. If you draw a line connecting the lows you will get a rising channel line. If you draw the parallel lin through the high you will see that the top of the channel is in the $18 to $29. range. That is the potential for it. Long shot, but potential.

@Turbobob Thank you for the description! Very helpful!

No problem. Happy it helps.

Whats your take on ADMS and RIOT ??

Didn't make one last night

Riot over $14.25 with volume. adms

ADMS - higher, very strong chart

I trade the trends and right now we are in a secular bull market and so my bias is long. When the bear comes in a few years I will trade mostly shorts. It makes no difference to me long or short. The patterns are the same only in reverse.

Hey Bob usually in any long position what do you recommend where the stop loss should be placed ?

There are a lot variables, but generally I am $.10 to $.20 below entry price.

http://bit.ly/2oZVJz7