ANR is sitting on the neckline of a huge H&S pattern that has developed off the 5.75 low. The neckline is right around 6.45. If it loses support at this neckline the H&S pattern targets $5.40 or about 15% lower. Just to be clear I am long ANR, but will sell the $6 OCT calls against my position if this neckline doesn't hold.
Good Luck All.
I got called out on saying that if the 6.45 level was lost, ANR is headed to new lows. I even said I was selling the $6 OCT to hedge my position. Unless that level is regained I will continue to hold my covered call position. Good luck all.
hey WD, neckline? you're kidding correct? look, do yourself a favor, look at the 1 hour 1 minute chart! you know what i see? a very controlled algorithmic computer program, keeping ANR, in a tight patter today. they drive these coal stocks like ACI-ANR, up off new lows, keep it up for a few days, then wammo, they pull the plug and let the air out! chart paterns IMO, mean very little with ANR, the big boys decide where its going, where just along for the site seeing!
c/o dark pools? c/o bats excahnge? c/o DIRECT EDGE? BATS-DIRECT EDGE ARE dark pools they control 25% of all the NYSE trades, no one really can see what they're doing, its a secrete. the big banks, MS-JPM, ETC, funnel a lot of trades through these off NYSE, sites, the ask/bids you see on level @?, forget it, they can't see these trades. PT. with the algos controlling the market, and making up to 60-80% of all trades on any given day, again you're along for the ride. i'm looking at the 1 minute chart of ANR, and what i see is a computer ping ponging the stock back and forth! any way, J-M-O, AND GOOD LUCK. MAYBE AFTER labor day, they'll let this run, wait and see.
IF you want to see a perfect H&S pattern and what happens when the neckline breaks, check out the 5 day chart. Textbook stuff. The neckline at 6.8 broke and snet us to 6.4, which is prior support. That is a buy signal. I bought at 6.45 - 10k shares. Target sell is 6.79. That is how you trade.
The majority of 5 day chart patterns are arbitrary unless they are at a critical breakout or breakdown zone. We are at a base. If it was 2008 - this stock would be basing at 0.25 or lower due to the computer's manipulation. However - they got a leash since then.
FYI - a head and shoulders "top" occurs at the top of an uptrend - you might be on acid suggesting anything other than a head and shoulders "bottom" - which would be inverted.
The hedge fund have a target of 6$ for September 22nd. Its easily obtainable UNLESS - the unexpected roils them..... i love the unexpected.
I see the hedge funds must have included you on their emails chains. I mean to know that they have set their HFT machines to $6 on 9/22 you must have some sort of inside information?
Anyways. I didn't call it a topping H&S pattern, I simple called it an H&S pattern. There is no requirement that H&S form only at a top. While H&S patterns at tops have a better percentage of meeting target price, it doesn't mean you should ignore the pattern if it is not at a top.
I'm just throwing out what I see in the chart. You can trade it as you see fit, but since you know where the stock is going your probably already positioned for that ... Oh and the neckline on the IHS all us longs are dreaming about is way up at 9.75 ....
are u guys speaking english - #$%$ are you talking about. You cant make 3 pointers or operate en fuego or go on tilt talking like that! what are you trekkies? funny