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RACK

 
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mjlewis



Joined: 10 Jan 2006
Posts: 42

PostPosted: Wed Aug 16, 2006 4:29 pm    Post subject: RACK Reply with quote

I bought RACK early yesterday after seeing the small gap up from several dojis and my thought that the damage from the huge gap down in late July had come to an end. STO was turning up and MACD was crossing over. I definitely did not expect the huge move up today.

Wanted to see if anyone had any thoughts on where this might be going.

stockcharts.com/h-sc/ui?s=rack
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rm



Joined: 05 Apr 2006
Posts: 140

PostPosted: Thu Aug 17, 2006 10:10 am    Post subject: Reply with quote

Good pick Very Happy

Still looks strong, once it breaks through the 20 ma the next resistance I see is 27.55 from Jan.

Then make it through the 50 ma and so on.

I'm confused on the earnings signals. My software chart shows a red earnings signal at .18, red means down. On the research page it shows earnings were up from an estimated .14

Apparently I don't understand right now how earnings reporting works on my charts Sad


rm
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Thu Aug 17, 2006 5:56 pm    Post subject: earnings Reply with quote

In Feb. the earnings were .36, in May they were .29 now in Aug they are .19. Be your own judge. It is not going up much.
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rm



Joined: 05 Apr 2006
Posts: 140

PostPosted: Fri Aug 18, 2006 2:03 am    Post subject: Reply with quote

Well aint I just a genius Laughing

Once I got in my head that the symbol color meant what the actual earnings were to the estimated earnings I couldn't see what was in plain site......

Which is what this quarter did compared to the last....

Thanks Harry.


rm
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Scooter



Joined: 02 Jul 2006
Posts: 98

PostPosted: Sat Aug 19, 2006 12:34 am    Post subject: Reply with quote

Outstanding pick, mjlewis! I am guessing you got stopped out today as RACK got hurt by the DELL fallout. Still a great run. Next time give the rest of us a heads-up a little earlier... I wish I could have gotten in on that one! Crying or Very sad

It was a rough week for me. I had mostly short positions coming into the week and gave back a lot of profits on Mon and Tue with the market's exuberance over the PPI and CPI reports. Tough days to make consistent returns.

Scooter
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mjlewis



Joined: 10 Jan 2006
Posts: 42

PostPosted: Wed Aug 23, 2006 8:49 am    Post subject: Reply with quote

Yes, I did get stopped out at 24 last Friday. I ended up making about 20% on the trade in just a couple of days. Definitely one of my best returns in the last few months.

I'll post others I find that might be good trades in the future, but lately my win/loss ratio has been terrible. It's certainly a whole lot easier to point out winners than it is to acknowledge the losers.

I've pretty much just focused on morning star signals (or morning star-like variants) with stochastics in an oversold condition. I have tried to trade kickers in the past, but have been burnt several times. I keep trying to find good j-hook candidates, but I don't think I'm able to read their charts well enough to see the potential in most of the j-hook candidates that come up in my scans.
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