Friday, March 30, 2007

RATE - Watch It

Notable Calls is out this morning with an article on RATE and as is my custom I always look at a stock's chart on several time frames whenever I read about it on Notable. So I pulled up RATE and what I saw was yet another illustration of my many points and I wanted to share it with you.


In the previous post I spoke about dull days and two moves and RATE proves th epoint with a move down and a move up. Interesting enough the move up was off a BOB (red circle) that included a tweezer bottom (arrow) - I like these kinds no matter where they appear on the chart but the fact that it was a bounce off the pivot point just adds to the excitement.

Watch for BOB, watch for the tweezer and keep an eye on the pivot points.

Needless to say I was out playing golf when all of this activity was taking place - but, who knows - today is another day.

Read Notable Calls every day - if you don't you are just pretending.

6 comments:

Anonymous said...

I'm having what appears to be another psychic moment. While reviewing charts after the close yesterday afternoon, I began to notice an abundance of Tweezer Bottom/BOB combinations (PTV, PSUN, AVP, SNV, NWS, HON) that formulated either at pivot points or very close to their corresponding mid-points and I said to myself, "Man, these are very potent setups." I was apprehensive about sharing my thoughts with you because the BOB portion of the setup isn't technically correct (the third candle in the sequence must have a higher low). Nonetheless, I quickly put together a Tweezer Bottom Paintbar in QT and set it up as a chart default. Then I re-looked at my charts and was amazed to see all of those setups pop out at me. Powerful.

Enjoy your weekend.

Philip

PS: How are those 300-yard drives coming along? In mid-season form yet?

Marlyn Trades said...

I always consider the tweezer bottom to be the equivalent of "higher than second bar" on the BOB. A tweezer is extremely powerful in the right place (around a pivot point or after a long fall) and can not be overlooked.

I haven't hit a 300 yard drive in a number of years - I play a crafty game - stay out of trouble - get on the green and make 'em pay with my flatstick. "Drive for show - putt for dough".

Same to you on the weekend.

Anonymous said...

Caught the Tweezer Bottom/BOB setup this morning at 11:45 and exited $.70 later on a close above R2. The setup at R1 was beautiful. Now I can go play golf!

Philip

Anonymous said...

Addendum to the above----I traded RATE.

Philip

Anonymous said...

Where do I find the Tweezer Bottom code and the BOB code so that I can program them in QT ? I know it's somewhere on the site. Sorry if this question has been asked a million times. Thanks...................

"MM".............

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