一个笨蛋的股指交易记录-------地狱级炒手

hefeiddd · 发表于 2009-3-21 09:56

Wednesday, January 17, 2007Momo Watchlist Stocks

Thanks to Basim for pointing this one out.

Also check out charts of interest at HCPG

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Posted by Jamie at 1/17/2007 10:59:00 PM 4 comments

Labels: Momentum, NR7

NASDAQ Technical Picture - Retest or Bull Trap?

The NASDAQ gapped down on the open, followed by a choppy gap fill leading into a big selloff in the afternoon. So far it looks like we maybe going in for a retest of the breakout, however, AH earnings guidance was not bullish and some of our leaders are trading down (AAPL, LRCX see charts below). Weak guidance puts a big question mark on valuations, so if the trend continues, we will be in for more profit taking.

Economic data for tomorrow: CPI, Core CPI, Housing Starts, Building permits, Initial claims at 8:30. Leading ind. at 10:00; Crude inv. 10:30 and finally Philadelphia Fed at noon.

Earnings of note scheduled before the bell: CAL, HOG, MER and after hours: IBM, CREE, and XLNX.

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Posted by Jamie at 1/17/2007 08:57:00 PM 0 comments

Labels: NASDAQ

Trade of the Day - IntercontinentalExchange, Inc. (Public, NYSE:ICE)

Only one trade for me today as I was very busy at work. ICE was not a great setup, but it did generate a profit despite the low risk: reward ratio. I was hoping for a late day rally but it never got off the ground because the market tuned very bearish in the afternoon.

Jim wrote to me about GROW yesterday and I told him that I was no longer bullish on GROW because of the bearish pennant formation on the daily timeframe and advised him to sell. Hope he was able to get out on the open. A bear's dream setup came midday. I didn't get in on this one but it was sweet for those who did.

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Posted by Jamie at 1/17/2007 07:31:00 PM 6 comments

Labels: Bearish_Pennant, Short

Tuesday, January 16, 2007OIH - Oversold?

As we can see from the full stochastics on the daily timeframe, OIH is oversold. However, we all know that we can stay oversold for a very long time. I'd like to see the stochastics break above 20 before taking any long positions in this sector. This will likely coincide with a high volume break of the 130 price level.

From the 60 minute view below, we see positive divergence of both the RSI and MACD. Again, 130 would give us a break of the 10, 20 and 50 MAs and the target would be the 200 MA on the 60 minute timeframe.

I'm not going to post any specific stock charts for the sector because I usually trade Canadian in the OIH sector. A few names that trade on the NYSE that I like are ECA, SU, CNQ.

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Posted by Jamie at 1/16/2007 09:35:00 PM 4 comments

Labels: Divergence

Dummy Trade of the Day - Suntech Power Holdings Co., Ltd. (Public, NYSE:STP)

STP gapped up above resistance on the open. It rallied until the 10:15 reversal time and then had an

orderly pullback. After tagging Friday's high, it reversed, carving out a hammer which closed just above the 20 period MA. When price started moving up towards the 10 period MA, I took a long position. Thanks to HCPG for this recommendation in last week's freebie.

GES and NT were two other morning gappers. They both opened with WRBs followed by a lengthy consolidation. However, GES was the better trade because volume was much higher than average.

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Posted by Jamie at 1/16/2007 07:10:00 PM 2 comments

Labels: Dummy, Gapper

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hefeiddd · 发表于 2009-3-21 09:57

Friday, January 12, 2007Dummy Trade of the Day - IntercontinentalExchange, Inc. (Public, NYSE:ICE)

Another bullish day and I was in the wrong sectors. That's two in a row. Hopefully next week, I can get back on track. Only one trade today - a late day scalp on ICE. I took a low risk entry as price crossed the 20 MA in the last hour of the session. My target was the 50 MA about $0.90 away. Luckily, my target was met so that I could end the week on an upbeat note.

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Posted by Jamie at 1/12/2007 10:15:00 PM 4 comments

Labels: Dummy

NR7 in Action - Baidu.com, Inc. (Public, NASDAQ:BIDU)

Intraday NR7 bars are easier to spot on the longer timeframes such as 30 and 60 minutes. Here is a great example. BIDU opens strong and succumbs to market weakness at the 10:00 reversal. After a 5 point swoon, it starts to consolidate in a narrow range below its 10 and 20 period MAs. During lunch, it carves out an NR7 bar (narrowest range bar) on extremely low volume - price and volume contraction. Throughout the consolidation, BIDU was not able to close above the MA. After lunch price and volume expanded resulting in a 6 point move to the downside on increasing volume.

For more info on NR7, read the links in last night's post.

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Posted by Jamie at 1/12/2007 09:20:00 PM 0 comments

Labels: NR7

NASDAQ Technical Picture - Breakout

The NASDAQ broke out of its trading range on higher volume. The rally was paced by biotechs and healthcare on the heels of DNA's bullish earnings report. There was no participation by the $SOX. I expect that we will come back in to retest the breakout point soon.

Economic data for Friday: Import/Export and Retail Sales at 8:30.

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Posted by Jamie at 1/12/2007 07:59:00 AM 0 comments

Labels: NASDAQ

Thursday, January 11, 2007NR7 Defined
For those that are new to the blog. Here are two great posts on NR7 price/volume expansion.

Coiled Spring by Alan Farley

NR7 in Action by Trader Mike

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Posted by Jamie at 1/11/2007 08:07:00 PM 3 comments

Labels: NR7

Trade of the Day - U.S. Global Investors, Inc. (Public, NASDAQ:GROW)

Today was a bit of a disappointment given the overall market performance. Maybe I was in the wrong sectors. GROW was a NR7 (narrowest bar over the last seven sessions) price expansion candidate and JNPR was a range breakout play.

I took a long entry in GROW on the second fifteen minute bar as price pushed through resistance on high volume. Shortly after moving up to the $58.50 area, price started to consolidate, eventually breaking higher and tagging $59.50. So far so good. At this point, I felt it was safe to move my stop up to $59.00. I was stopped out with one of my worst fills ever. I felt robbed. That's the problem trading stocks with a wide spread - be prepared to lose of huge chunk of profit on stop outs. Better to sell on a limit order before price craters.

JNPR long on the 5 bar as price flirted with the opening range high. I was stopped out of JNPR as price took a midday swoon.

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Posted by Jamie at 1/11/2007 07:29:00 PM 8 comments

Labels: Gapper, NR7

Wednesday, January 10, 2007Watch List - AKAM, BIDU, GROW, RHT, JNPR

Some of the stocks I'm watching.

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Posted by Jamie at 1/10/2007 10:50:00 PM 7 comments

Labels: Watchlist

hefeiddd · 发表于 2009-3-21 09:59

Friday, January 12, 2007Dummy Trade of the Day - IntercontinentalExchange, Inc. (Public, NYSE:ICE)

Another bullish day and I was in the wrong sectors. That's two in a row. Hopefully next week, I can get back on track. Only one trade today - a late day scalp on ICE. I took a low risk entry as price crossed the 20 MA in the last hour of the session. My target was the 50 MA about $0.90 away. Luckily, my target was met so that I could end the week on an upbeat note.

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Posted by Jamie at 1/12/2007 10:15:00 PM 4 comments

Labels: Dummy

NR7 in Action - Baidu.com, Inc. (Public, NASDAQ:BIDU)

Intraday NR7 bars are easier to spot on the longer timeframes such as 30 and 60 minutes. Here is a great example. BIDU opens strong and succumbs to market weakness at the 10:00 reversal. After a 5 point swoon, it starts to consolidate in a narrow range below its 10 and 20 period MAs. During lunch, it carves out an NR7 bar (narrowest range bar) on extremely low volume - price and volume contraction. Throughout the consolidation, BIDU was not able to close above the MA. After lunch price and volume expanded resulting in a 6 point move to the downside on increasing volume.

For more info on NR7, read the links in last night's post.

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Posted by Jamie at 1/12/2007 09:20:00 PM 0 comments

Labels: NR7

NASDAQ Technical Picture - Breakout

The NASDAQ broke out of its trading range on higher volume. The rally was paced by biotechs and healthcare on the heels of DNA's bullish earnings report. There was no participation by the $SOX. I expect that we will come back in to retest the breakout point soon.

Economic data for Friday: Import/Export and Retail Sales at 8:30.

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Posted by Jamie at 1/12/2007 07:59:00 AM 0 comments

Labels: NASDAQ

Thursday, January 11, 2007NR7 Defined
For those that are new to the blog. Here are two great posts on NR7 price/volume expansion.

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Posted by Jamie at 1/11/2007 08:07:00 PM 3 comments

Labels: NR7

Trade of the Day - U.S. Global Investors, Inc. (Public, NASDAQ:GROW)

Today was a bit of a disappointment given the overall market performance. Maybe I was in the wrong sectors. GROW was a NR7 (narrowest bar over the last seven sessions) price expansion candidate and JNPR was a range breakout play.

I took a long entry in GROW on the second fifteen minute bar as price pushed through resistance on high volume. Shortly after moving up to the $58.50 area, price started to consolidate, eventually breaking higher and tagging $59.50. So far so good. At this point, I felt it was safe to move my stop up to $59.00. I was stopped out with one of my worst fills ever. I felt robbed. That's the problem trading stocks with a wide spread - be prepared to lose of huge chunk of profit on stop outs. Better to sell on a limit order before price craters.

JNPR long on the 5 bar as price flirted with the opening range high. I was stopped out of JNPR as price took a midday swoon.

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Posted by Jamie at 1/11/2007 07:29:00 PM 8 comments

Labels: Gapper, NR7

Wednesday, January 10, 2007Watch List - AKAM, BIDU, GROW, RHT, JNPR

Some of the stocks I'm watching.

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Posted by Jamie at 1/10/2007 10:50:00 PM 7 comments

Labels: Watchlist

hefeiddd · 发表于 2009-3-21 10:00

NASDAQ Technical Picture - AAPL Frenzy Sparks Tech Rally

The AAPL MacWorld announcements yesterday fueled a mini tech rally today as the $SOX and $GHA rallied 1.76% and 1.36% respectively on the prospect of future business generated through the Apple iphone and Apple TV. Today's gap down open turned out to be a fade and by early afternoon we were breaking through resistance. Will it last? We have more resistance just over head and next week tech earnings' season gets going in earnest (including some big names like INTC, AAPL, LRCX, and IBM) . So we'll soon have a clearer picture.

Initial claims tomorrow at 8:30.

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Posted by Jamie at 1/10/2007 09:02:00 PM 0 comments

Labels: NASDAQ

Dummy Trade of the Day - IntercontinentalExchange, Inc. (Public, NYSE:ICE)

ICE is on my momo stock watchlist. This morning it broke out of a three day consolidation high, building on last week's big move. About an hour after the break, it started consolidating the move in a narrow channel on declining volume. During lunch, it started making a move towards the top of the channel. I took a low risk dummy entry on the channel break and a slight uptick in volume. ICE ascended in a nice orderly fashion until price approached $134 and things started to pick up. Once price was safely above $134.00, I tightened my stop to that level and I was taken out shortly thereafter.

I wanted to capitalize on the nice move in semiconductors without chasing (NVDA, SNDK) so I looked and found a somewhat rounded base forming in LRCX. The $SOX had a lot of momentum in the afternoon and this entry worked out very nicely.

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Posted by Jamie at 1/10/2007 07:19:00 PM 4 comments

Labels: Consolidation_Breakout, Dummy

Tuesday, January 09, 2007Trade of the Day - Apple Computer, Inc. (Public, NASDAQ:AAPL)

My first AAPL trade was a low risk dummy entry on a break of the second bar high on the 15 minute timeframe. It did nicely at the start but then things started to get a little choppy. After the mid-morning consolidation, I moved my stop up to $87.00 which was just pennies under support. I'm not sure why, but AAPL lost about 2 points in a matter of minutes. I was stopped out with slippage but still profitable. Shortly after the fall, AAPL recovered and I knew it would take out the morning highs so I had to look for a way to get back in.

I started watching it closely on the 3 minute timeframe and managed to find a fairly low risk entry on a consolidation break. The trade lasted about 40 minutes and generated close to 4 pts. Sweet!

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Posted by Jamie at 1/09/2007 07:27:00 PM 6 comments

Labels: Dummy, Gapper

Monday, January 08, 2007NASDAQ Technical Picture - Inside day on Lower Volume

The NASDAQ carved out an inside day on lower volume. Notice how it observed Friday's gap down as resistance on the 15 minute timeframe. Monday's are generally difficult to trade and I guess with earnings season officially starting tomorrow (Alcoa), this slightly boring type of trade, was not unexpected.

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Posted by Jamie at 1/08/2007 08:12:00 PM 6 comments

Labels: NASDAQ

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hefeiddd · 发表于 2009-3-21 10:01

Monday, January 08, 2007Dummy Trade of the Day - U.S. Global Investors, Inc. (Public, NASDAQ:GROW)

In reviewing my watchlist over the weekend, I noticed that GROW was setting up as a potential doji morning star reversal pattern from a key support level. If it could open slightly higher than Friday's close, I would stalk it for a potential reversal. I was happy to see the gap up on the open and waited for a perfect entry. It took quite some time but once it managed to break through the 10 and 20 MA, I started looking for a low risk entry. Following the break, price consolidated above the converging MAs on low volume. As soon as price took out the high of the 17th bar, I went long. I took my profit on the first sign of weakness, because GROW has a wide spread and I didn't want to give too much back.

At the end of the day, GROW closed a little too low to qualify as a doji morning star, but the strategy was a profitable intraday.

SNDK was another watchlist stock. I figured it had one good day left before it started to consolidate its recent gains. SNDK gapped up on the open and carved out a wide range bullish stick. After the OR, it started to consolidate the gap on declining volume. I took a low risk entry on a break of the 4th bar high. My target was $45.25, but we didn't quite make it, so I let it go at $45.00.

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Posted by Jamie at 1/08/2007 07:23:00 PM 2 comments

Labels: Dummy, Gapper

Sunday, January 07, 2007NASDAQ Technical Picture - Uneven Week ends on a Downer

The NASDAQ gapped down on the open Friday following better than expected jobs data. By the end of the morning, it had shed over 30 points. By the end of the session, it managed to pare back the loss to a more respectable 19 points. Volume dipped slightly escaping a distribution day. All major tech sectors ended the session in the red, paced mainly by the $SOX (multiple analyst downgrades of some of the big names INTC, NVDA, BRCM).

The weekly chart (below) is still consolidating within its narrow channel.

Watch Friday's gap open (highlighted in yellow on the 15 minute timeframe) as a potential resistance area.

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Posted by Jamie at 1/07/2007 07:07:00 PM 2 comments

Labels: NASDAQ

Friday, January 05, 2007Dummy Trade of the Day - Endo Pharmaceuticals (Public, NASDAQ:ENDP)

SNDK was the first stock on my Web trader to turn green after this morning's bearish open. It sort of set the tone for my trading today. I didn't want to chase the shorts, so I concentrated on gutter stocks. My first long was SNDK on a pullback to the rising 10 period EMA. I waited to see some sort of continuation and entered long just above the doji stick's close.

ENDP was another gutter stock that made a nice move in the morning. I was able to catch the second wave after price consolidated sideways until the rising 10 period EMA came back into play, enabling a low risk dummy entry. The second wave was an orderly momo move on accelerating volume. I was able to move my stop to the low of the previous bar every 15 minutes. I exited my position into the close.

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Posted by Jamie at 1/05/2007 08:22:00 PM 2 comments

Labels: Dummy

Thursday, January 04, 2007NASDAQ Technical Picture - Bulls Regain the Upper Hand

After a choppy start and a lengthy midday consolidation, the bulls took the upper hand. All major tech sectors participated in the rally. Unfortunately, the INDU and SPX didn't get much today, but that's okay because we want to see the NASDAQ take back its upside leadership role.

Tomorrow is the first Friday of the month and that means the jobs data will be the focus at 8:30.

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Posted by Jamie at 1/04/2007 09:07:00 PM 3 comments

Labels: NASDAQ

hefeiddd · 发表于 2009-3-21 10:03

Dummy Trade of the Day - Amgen, Inc. (Public, NASDAQ:AMGN)

AMGN showed up on my Trade_Ideas gapper scan (1) this morning. I didn't immediately fall in love with the setup as it was a little too choppy for my tastes. Nevertheless, I kept it on my gapper focus list for the day. Shortly after lunch, it started to consolidate in an orderly fashion. By mid-afternoon, it tagged its rising 10 period EMA. The next bar opened strong and as soon as it took out the tag stick, I went long. My original stop was the previous bar low. Once the trade got underway, I moved my stop to the low of the prior bar every 15 minutes. I was stopped out going into the close.

CAL presented a low risk dummy entry midday as it formed a shallow rounded base in the area of its rising 10 and 20 MAs. Long on a break of the base. I was expecting CAL to test its all time high at $46.29, but it didn't quite make it and I was caught trying to manage a respectable exit.
(1) I'm using Trade_Ideas Web version - The scan is entitled "Gaps Up and Keeps Going Higher". The scan notifies you when a stock crosses the open after X% retracement.

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Posted by Jamie at 1/04/2007 07:45:00 PM 0 comments

Labels: Dummy, Gapper

Wednesday, January 03, 2007NASDAQ Technical Picture - Hello Volatility

Despite the increase in volume and volatility, today's WR session still leaves the NASDAQ in a directionless, range bound state. However, the volatility aspect makes for some very interesting day trading setups. Technically, tomorrow is the last day of the Santa Claus rally - Ho.

Economic data: Initial Claims at 8:30, followed by Factory Orders and ISM at 10:00.

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Posted by Jamie at 1/03/2007 11:28:00 PM 2 comments

Labels: NASDAQ

SanDisk Corporation (Public, NASDAQ:SNDK) Update

SNDK gapped up on the open but could not take out the 20 MA resistance level. Minutes after the open, it fell hard and never recovered, breaching support at $42.00 on a closing basis. It did not trigger a trade for me, but in retrospect the gap fade would have been a very good trade here.

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Posted by Jamie at 1/03/2007 07:55:00 PM 0 comments

Labels: Technical

Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

CAL gapped up on heavy volume following a week or so of range bound action. CAL is one of my watch list stocks so I didn't have to run a scan to find it. I did have to do little work to find the best entry point, so I drilled down to the 5 and 1 minute timeframes. The 1 minute chart below shows my exact entry. I wanted to get in before price broke through $42.50 as I thought it might run away from me. I liked the consolidation on the 1 minute timeframe. Price traded mostly sideways on declining volume as it waited for the rising 10 period EMA to catch up.

I closed my position on weakness. Despite the FOMC minutes and all the red ink that ensued, CAL held my target support level at $43.00 and set up another long entry into the close.

From the daily chart below, we can see that today's price and volume expansion was an NR7 technical setup.

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Posted by Jamie at 1/03/2007 07:23:00 PM 4 comments

Labels: Gapper, NR7

Tuesday, January 02, 2007Technical Trade Idea - SanDisk Corporation (Public, NASDAQ:SNDK ) Bullish Morning Star Reversal Pattern

SNDK has been holding support at $42.00 for over three weeks and appears poised to reverse the bearish trend near-term. Friday's action completed the three candlestick reversal pattern known as the morning star. We also have positive divergence of the MACD which has been building over the last seven weeks. My short-term target is $46.oo, however, we do have some resistance at the 20 MA and at $44.00.

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Posted by Jamie at 1/02/2007 07:43:00 PM 0 comments

Labels: Morning_Star

Monday, January 01, 2007NASDAQ Technical Picture - Bull/Bear Stalemate

From the daily chart above we can see that Friday's price action filled the bullish gap support and held on a closing basis. It appeared that there may have been some programmed selling taking place in the second half of the session (note the mid-afternoon intraday gap on the 15 minute timeframe). So going into 2007, we have a bull-bear stalemate and price is sandwiched between the 10 and 50 MAs.

The weekly timeframe below is still in a bullish stance with price consolidating in a narrow channel closing above support of the rising 10 day EMA.

On a very short-term basis as highlighted by the 15 minute timeframe, look for support in the area of 2415, 2410, followed by 2400. Resistance levels are 2421 (intraday gap), 2425, 2432, and 2437.

Markets are closed on Tuesday for a national day of mourning for former President Gerald Ford. Trading resumes on Wednesday with the following economic agenda: Construction spending and ISM at 10:00; and FOMC minutes at 2:00 EST.

Weekly Timeframe

15 Minute Timeframe

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Posted by Jamie at 1/01/2007 09:34:00 AM 6 comments

Labels: NASDAQ

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hefeiddd · 发表于 2009-3-21 10:04

Friday, December 29, 2006Dummy Trade of the Day - Interactive Intelligence (Public, NASDAQ:ININ)

ININ showed up on a scan and I waited until price narrowed on the support of the 10 period MA before going long. Same type of setup as MED yesterday.

Couldn't resist this gap up long on AAPL. Long on a break of the OR high. This is a 5 minute chart. Stopped out at $85.10.

Happy New Year!

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Posted by Jamie at 12/29/2006 04:08:00 PM 6 comments

Labels: Dummy, Gapper

Thursday, December 28, 2006Dummy Trade of the Day - Medifast, Inc. (Public, NYSE:MED)

MED was a low risk dummy setup that I found on my Esignal leaders list. It carved out a bullish WRB on the open and then consolidated in an orderly fashion on lower volume until price tagged the rising 10 period EMA. I entered long on a break of the 10th bar high. I was stopped out for a partial profit at $12.99. The specialist took me out on the bid instead of waiting until my stop price hit the ask. I was little annoyed but in the end, I probably saved on slippage. I exited the balance of the trade at the end of the session.

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Posted by Jamie at 12/28/2006 05:25:00 PM 0 comments

Labels: Dummy

Managing the Trade - Apple Computer, Inc. (Public, NASDAQ:AAPL)

Yesterday's big winner turns out to be today's big frustration. I shorted AAPL on a break of this morning's bear flag pattern on the 15 minute timeframe. The trade went along smoothly until price approached the OR range low and started to reverse. I immediately covered 50% because until the OR is taken out on a closing basis, the trade is vulnerable (my interpretation of Trader-X rules). After price rallied and failed to take out the 20MA, I lowered my stop just pennies above. It may sound odd, but when I finally got stopped on the balance of my position, I felt relieved that the frustration had come to an end. After being stopped out, price rallied and tagged the OR high, pivoted and pulled back in. My next entry was a scalp at $80.60 and I was stopped out at $81.19.

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Posted by Jamie at 12/28/2006 05:02:00 PM 2 comments

Labels: Bearish_Flag, Dummy, Gapper, Opening Range, Pivot Point

Wednesday, December 27, 2006NASDAQ Technical Picture - Low Volume Gap Up

As previously discussed, 2400 was a key technical level and the last two sessions have resulted in a technical bounce. Seasonal factors are in play as well (year-end window dressing). Despite all that, today's gap up will provide a slightly higher level of support. Also note that the RSI has recaptured the 50 level. All major tech sectors participated in today's rally with networking and internet pacing the way.

Economic agenda for Thursday: Initial claims 8:30, followed by Consumer confidence and Existing home sales at 10:00 and Crude at 10:30.

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Posted by Jamie at 12/27/2006 11:33:00 PM 2 comments

Labels: Gapper, NASDAQ

Dummy Trade of the Day - Apple Computer, Inc. (Public, NASDAQ:AAPL) Cont'd

Here's a completed view of the AAPL trade. I spent a lot of time on this entry and the only thing that kept me hanging in was the volume pattern on the 5 minute timeframe below. The volume was much higher on the early rallies than on the pullbacks. The 15 minute timeframe really didn't look all that compelling and I was hoping that it wouldn't just trade sideways all day as I had invested too much time on it. The trigger was the close of the 6th bar on the OR high. The entry was a break of the sixth bar high. The blue lines represent support and resistance areas. I took a partial profit as price approached $80.00 because on the daily chart, this was a key technical area and secondly because of the round number significance.

The chart below shows the AH trade. The last bar traded over 125,000 shares. And Briefing.com notes the following:

Chief Executive Steve Jobs was given 7.5 mln stock options in 2001 without the required authorization of the board of directors, The Financial Times reports on its Web site, citing people familiar with the matter. The FT reported that records that purported to show a full board meeting had taken place to approve Jobs' remuneration, as required by AAPL's procedures, were later falsified. The sources said that those records are among the pieces of evidence being weighed by the U.S. Securities and Exchange Commission as it decides wither to pursue a case against the co or any individual over the affair. According to a 2002 filing by AAPL, the options under review were handed to Jobs in October 2001, at an exercise price of $18.30 a share. However, the FT said, the purported board authorization was dated near the end of the year, suggesting the benefits were both not properly authorized and were backdated. Jobs later surrendered his options before they were exercised, implying that he didn't gain any direct benefit from them. he was later given a grant of restricted stock by AAPL instead.

hefeiddd · 发表于 2009-3-21 10:08

implying that he didn't gain any direct benefit from them. he was later given a grant of restricted stock by AAPL instead.

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Posted by Jamie at 12/27/2006 10:16:00 PM 2 comments

Labels: Dummy, Gapper

Apple Computer, Inc. (Public, NASDAQ:AAPL) - Gap Fade

Nice call by Trader Mike on AAPL this morning. The Gap fade setup became obvious to me when the 6th bar closed on the OR high. Long on a break of the 6th bar high. My interpretation of Trader-X rules.

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Posted by Jamie at 12/27/2006 12:05:00 PM 9 comments

Labels: Dummy, Gapper

Friday, December 22, 2006Happy Holidays to all my Readers and Happy Birthday to the Blog
Happy Holidays

Taking a few days off to enjoy holidays. The blog is one year old today and I've enjoyed writing every post. Sharing and learning through the trading community has been a great help to my trading. Looking forward to 2007. Best wishes to all!

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Posted by Jamie at 12/22/2006 11:14:00 PM 12 comments

Dummy Trade of the Day - Red Hat, Inc. (Public, NYSE:RHT)

My strategy today was focused on low risk because of the holiday reduced volume. RHT gapped up on earnings and volume was very bullish. Still the gap was so wide, I decided to wait for a consolidation before going long. Patience finally paid off around 1:30 EST when price met up with the rising 10 period MA. Shortly thereafter price broke the narrow channel on an uptick in volume.

NT was another very low risk entry I found in early afternoon. Nortel Networks (NYSE:NT) has had quite a run since its reverse stock split. It showed up on a gapper scan last week and at first I ignored it but I like the volume and I'm adding it to my list of momo stocks.

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Posted by Jamie at 12/22/2006 07:20:00 PM 11 comments

Labels: Dummy, Gapper, NBR

Thursday, December 21, 2006NASDAQ Technical Picture - Approaching Test of 50 MA

The NASDAQ is approaching the first test of the 50 MA since crossing over form the other side in August.

Tomorrow's economic calendar: Durable orders; personal income/spending 8:30; Mich Sentiment 10:00.

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Posted by Jamie at 12/21/2006 11:19:00 PM 2 comments

Dummy Trade of the Day - MasterCard Incorporated (Public, NYSE:MA)

MA gapped down in pre-market and I spent the better part of an hour waiting for the bearish flag to break. When it finally broke, I was away from my desk and I missed out on a nice short. I kept coming back to the chart over the course of the session and I was rewarded with a nice long setup in the afternoon on the second successful test of support at $94.00. Long on a break of the previous bar high. I booked my profit as soon as price tagged the 200 period SMA.

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Posted by Jamie at 12/21/2006 09:46:00 PM 2 comments

Labels: Dummy, Gapper

Newer Posts Older Posts Home

hefeiddd · 发表于 2009-3-21 10:08

implying that he didn't gain any direct benefit from them. he was later given a grant of restricted stock by AAPL instead.

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Posted by Jamie at 12/27/2006 10:16:00 PM 2 comments

Labels: Dummy, Gapper

Apple Computer, Inc. (Public, NASDAQ:AAPL) - Gap Fade

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Posted by Jamie at 12/27/2006 12:05:00 PM 9 comments

Labels: Dummy, Gapper

Friday, December 22, 2006Happy Holidays to all my Readers and Happy Birthday to the Blog
Happy Holidays

Taking a few days off to enjoy holidays. The blog is one year old today and I've enjoyed writing every post. Sharing and learning through the trading community has been a great help to my trading. Looking forward to 2007. Best wishes to all!

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Posted by Jamie at 12/22/2006 11:14:00 PM 12 comments

Dummy Trade of the Day - Red Hat, Inc. (Public, NYSE:RHT)

My strategy today was focused on low risk because of the holiday reduced volume. RHT gapped up on earnings and volume was very bullish. Still the gap was so wide, I decided to wait for a consolidation before going long. Patience finally paid off around 1:30 EST when price met up with the rising 10 period MA. Shortly thereafter price broke the narrow channel on an uptick in volume.

NT was another very low risk entry I found in early afternoon. Nortel Networks (NYSE:NT) has had quite a run since its reverse stock split. It showed up on a gapper scan last week and at first I ignored it but I like the volume and I'm adding it to my list of momo stocks.

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Posted by Jamie at 12/22/2006 07:20:00 PM 11 comments

Labels: Dummy, Gapper, NBR

Thursday, December 21, 2006NASDAQ Technical Picture - Approaching Test of 50 MA

The NASDAQ is approaching the first test of the 50 MA since crossing over form the other side in August.

Tomorrow's economic calendar: Durable orders; personal income/spending 8:30; Mich Sentiment 10:00.

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Posted by Jamie at 12/21/2006 11:19:00 PM 2 comments

Dummy Trade of the Day - MasterCard Incorporated (Public, NYSE:MA)

MA gapped down in pre-market and I spent the better part of an hour waiting for the bearish flag to break. When it finally broke, I was away from my desk and I missed out on a nice short. I kept coming back to the chart over the course of the session and I was rewarded with a nice long setup in the afternoon on the second successful test of support at $94.00. Long on a break of the previous bar high. I booked my profit as soon as price tagged the 200 period SMA.

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Posted by Jamie at 12/21/2006 09:46:00 PM 2 comments

Labels: Dummy, Gapper

Newer Posts Older Posts Home

hefeiddd · 发表于 2009-3-21 10:10

Wednesday, December 20, 2006NASDAQ Technical Picture - Narrow Range Snooze Fest

Yesterday, I mentioned the importance of catching and holding the 50 MA on the 15 minute timeframe. Today's open was promising, but then we ran into the 200 MA and couldn't move higher. I'm glad I wrapped up my trading during lunch, because the second half of the session was a real snooze. Watch minor support at 2425. A decisive break of support could give us some tradable bearish movement. I'm still looking for a technical bounce at 2400.

Economic calendar: Initial Claims and GDP Final 8:30, Leading Indicators 10:00, Philadelphia Fed 12:00

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Posted by Jamie at 12/20/2006 10:11:00 PM 0 comments

Labels: NASDAQ, NRB

Dummy Trade of the Day - MasterCard Incorporated (Public, NYSE:MA)

MA pulled back to support (blue line) and the rising 10 period EMA in an orderly fashion in early trade. I entered long just as price was approaching $97.00. MA rallied hard from $97 to $99.00 in less than 30 minutes. Once price was firmly above $99.00, I moved my stop to $99.00 to protect my profits. I was stopped out shortly thereafter. My second entry was a low risk dummy entry as price lifted from support of the 10 period EMA following a NRB midday. I was well aware of the negative divergence of the RSI on the 5 minute timeframe and decided to take my profit at $99.00 as I was fully expecting a lower high. That's exactly how it played out and I was happy with my decision. These were my only trades today.

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Posted by Jamie at 12/20/2006 08:00:00 PM 8 comments

Labels: Dummy, NRB

Tuesday, December 19, 2006NASDAQ Technical Picture - Opening Gap Filled

The NASDAQ gapped down on the open on some weak economic data. We spent most of the rest of the day gap filling. The first wave almost filled the gap from yesterday's low and the afternoon wave filled yesterday's closing gap. Once the gap was filled, we came into some weakness into the close. I'm watching the 50 MA on both the daily and 15 minute timeframes. On the shorter timeframe, I need to see price catch and hold the 50 MA in order to assume a bullish stance. If this doesn't happen, then I look to the daily 50 MA as potential for a technical bounce. Crude inventories tomorrow at 10:30 EST.

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Posted by Jamie at 12/19/2006 10:02:00 PM 4 comments

Labels: NASDAQ

Dummy Trade of the Day - MasterCard Incorporated (Public, NYSE:MA)

MA had a technical bounce from a gap fill dating back to Nov. 10-13. The high on Nov. 10th was exactly $90.50, matching the low on today's wide range, opening bar. However, there was no low risk entry so I decided to let it go. I checked back during lunch to observe the consolidation and decided to watch it closely in the afternoon. Around mid-afternoon, a low risk dummy setup presented itself and I jumped in.

I noticed a strong uptick in volume in ENER on a retest of the morning low. I checked Briefing.com for any news and they had just posted some bullish comments from a boutique firm. Usually, Briefing is late posting comments and I was surprised that I was able to catch this one so early. I took a long entry on a break of the doji high. I booked my profit as price approached the upper level of the resistance zone. This is a scalp so I prefer taking profits before they disappear.

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Posted by Jamie at 12/19/2006 07:09:00 PM 6 comments

Labels: Dummy, Gapper, Technical

hefeiddd · 发表于 2009-3-21 10:10

Monday, December 18, 2006NASDAQ Technical Picture - Tweezer Top Reversal Pattern on Test of November Highs

The Nasdaq tested resistance in early action but failed. It looks like we've carved out a tweezer top reversal pattern and so I'm expecting some weakness in the short-term. The next major support level is the rising 50 day MA, followed by the April highs at 2375. I'm watching the RSI closely as it approaches the 50 mark. A sustained break of the 50-45 level would signal a downtrend. Notice how the ADX line has come down to 17.5 from a high of 40 over the last month as price consolidated under the current resistance level. The D+ and D- are knotting up, making it difficult to determine if the next momentum phase will be up or down.

Trading this week will likely be low volume as many traders take off for the holidays. Tomorrow's economic calendar includes Housing starts, Building permits, and PPI (all at 8:30 EST).

Tweezer Top - Tweezer tops are two or more candlesticks with matching tops. The tops do not have to be consecutive, and size and color are irrelevant. It is a minor reversal signal that becomes more important when part of a larger pattern.

[url=][/url]
Posted by Jamie at 12/18/2006 10:22:00 PM 2 comments

Labels: NASDAQ, Support_Resistance, Tweezer_Top

NR7 Price/Volume Expansion - MasterCard Incorporated (Public, NYSE:MA)

From the daily timeframe above, you can see how Friday's NR7 was setting up for price and volume expansion. Friday's bar was sitting just below the converging MAs, so the direction was setting up for a short. However, I mapped out support and resistance on the 15 minute timeframe below and prepared myself for either direction. The first bar was wide range and fell into support on high volume. The next three bars consolidated the WRB but could not bounce, so I decided to short on the fifth bar as it took out the fourth bar low. It was not as smooth as most NR7 trades, but the outcome was profitable and MA closed near its lows.

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Posted by Jamie at 12/18/2006 08:52:00 PM 6 comments

Labels: NR7

the good shepherd

Looking forward to seeing Robert DeNiro's "the good shepherd" over the holidays. I just saw Matt Damon and Robert DeNiro on Chris Matthews Hardball College Tour and Matt said some things about the current administration that many of us think but few have the guts to voice in public. If you get a chance catch the repeat on MSNBC.

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Posted by Jamie at 12/18/2006 08:27:00 PM 0 comments

Fade the Gap - NASDAQ 100 Trust Shares (ETF) (Public, NASDAQ:QQQQ)

Monday's are always tricky, but today's gap up just didn't have enough volume and it was no surprise when the test of resistance failed. I shorted the Qs as soon as the fourth bar showed continuation with a stop just pennies above the 10:00 high. They easily broke through the first level of support with the usual retest during the midday doldrums, followed by more aggressive selling in the afternoon.

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Posted by Jamie at 12/18/2006 08:11:00 PM 0 comments

Friday, December 15, 2006Pre-Market - Friday December 15th (Options Exp.)
Citrix Systems initiated with a Buy at ThinkEquity- tgt $40 (28.61 )
ThinkEquity initiates CTXS with a Buy and a $40 tgt saying Citrix has excelled in expanding into growth areas through strategic acquisitions.

Advanced Micro: Color on Analyst Day (22.71 )
Several analysts are commenting on yesterday's AMD Analyst Day: CIBC comments on AMD's Analyst Day, saying the co provided upbeat guidance reflecting a bigger, more energized company following the acquisition of ATYT. Mgmt said that cost synergies were ahead of schedule and that the deal would now be accretive by 2H07. Shares responded positively to the update. Firm believes the cost synergy upside was primarily due to overlapping COGS and R&D activities. They say the unexpected rise in the estimated tax rate to 26% (vs. their expectations for 15%), however, offset much of the upside. Firm notes that at 23x their CY07E EPS of $1.00, shares trade at a premium to peers 20x. With pricing headwinds in MPU unabated, a more competitive product lineup from INTC, and a less than stellar execution history at both AMD and ATYT, the firm does not believe the risk/reward profile warrants a premium at this time... Susquehanna says that contrary to their expectations, AMD management set what they consider to be very aggressive growth and cost targets for the combined AMD/ATYT business model, and conveyed a very bullish view of not just longer term product synergies from the ATYT acquisition, but also accretive potential for CY07. While bulls will take heart, the firm still views AMD as a high-risk story. They maintain their Negative rating, but would be less aggressive on the short side until they have a better sense of how adjusted consensus estimates shake out - inflated expectations coming out of the meeting, particularly off unclear comps, could lead some to see more near-term upside than is justified... Friedman Billings says that they are beginning to warm up to AMD's stock, given the pullback and due to AMD's ramp of more cost effective 65nm products in 1H07. They believe that 2007 guidance, however, presents a new concern, as it assumes continued share gain in notebook and enterprise, a rebound of ATYT's graphics business, as well as A.S.P. stability. Firm notes that such gains are far from assured, given the omnipresent competitive threat from INTC (and from NVDA in graphics), coupled with INTC's 45nm ramp in 2H07. They state that AMD could benefit from a Vista-inspired positive PC environment in 1H07, but AMD's aggressive 2007 guidance presents an unnecessary risk. Maintains Mkt Perform and $23 price tgt.

Invasion of the Nvidia (NASDAQ:NVDA) stock sellers - Barron's Online
Barron's Online reports with Nvidia shares trading near an all-time high, several insiders at the graphics-chip maker have seen fit to take profits. Six execs and directors at the co, including CEO Jen-Hsun Huang and CFO Marvin Burkett, have sold a total of $70.2 mln in Nvidia's shares since Dec. 5. About $42.1 mln of the stock sold since Dec. 5 by Nvidia insiders was from exercised options, while $28.1 mln of the sales were of stock that had been held. Michael Painchaud, managing director of research at Market Profile Theorems, notes that directors Coxe and Gaither have been accurate buyers of Nvidia shares in the past. Both men picked up Nvidia shares in August and September of 2004 when the stock was trading at about $6. Ben Silverman, director of research at InsiderScore.com, calls the selling by Nvidia insiders a "passive sell signal" because while the amount of shares sold is large, profit-taking by insiders after a stock hits a high is normal. Silverman adds, however, that investors should take a look at their Nvidia holdings.

F5 Networks (NASDAQ:FFIV) tgt upped to $90 at ThinkEquity (76.94 )
ThinkEquity raises their tgt on FFIV to $90 from $75 saying they believe that F5 has the most near-term upside potential. The firm believes that there is little threat to F5's dominant market position for application switching in the near term, as F5 has a solid offer and the most-focused distribution.

Courtesy of Briefing.com

Trading Lite for me due to options expiration.

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Posted by Jamie at 12/15/2006 07:38:00 AM 2 comments

Thursday, December 14, 2006Dummy Trade of the Day - Advanced Micro Devices, Inc. (Public, NYSE:AMD)

The Thomas Weisel comments on MSFT Vista and graphics suppliers AMD (ATYT) and NVDA which I posted in pre-market, were very compelling. We had a strong open but the SOX was definitely pacing the way, so I decided to stay focused on these two names. NVDA presented the first low risk entry around 10:30. I had already mapped out resistance at $37.30 from three previous failed attempts (daily timeframe). It was a calculated risk that didn't pan out, so I folded on the first lower high.

AMD broke its downsloping trendline on high volume. Shortly after 10:30 it started to consolidate on declining volume. As the consolidation progressed it started to form a symmetrical triangle. I entered long on a high volume break of the triangle. My initial stop was set at the base $21.00. I knew we would run into resistance of the downsloping 50 MA from the daily timeframe ($21.85). Again, I mapped it out on the 15 minute chart. Notice how price consolidated for a long time when it came into this level of resistance. The bulls eventually persisted and succeeded in moving higher. As you can see from the chart, this second break presented another low risk entry point.

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Posted by Jamie at 12/14/2006 07:28:00 PM 0 comments

Labels: Dummy, Support_Resistance

Newer Posts Older Posts Home

hefeiddd · 发表于 2009-3-21 10:13

Wednesday, December 13, 2006Opening Gap Fade - Continental Airlines (NYSE:CAL) and NASDAQ 100 Trust Shares (ETF) (NASDAQ:QQQQ)

I shorted the Qs on the open because despite bullish retail sales there was nothing compelling enough in the Briefing.com news to push price beyond the intraday pivot point (black arrows on the chart). The entry was low risk because my stop was set just pennies above the pre-market high.

A few of you asked what conditions made me fade the Qs. The primary things that struck me this morning are outlined above. The pivot points are especially compelling and they are used by many floor traders (follow the herd). The rest is feel and that comes with experience.

I shorted CAL as soon as the third 5 minute bar took out the low of the second bar. I set my initial stop at $46.50 because I expected CAL to be much more volatile and because there is no real intraday resistance at the opening price level. The trade started out nicely, but shortly thereafter buyers stepped in and I felt I might me stopped out. Trading the open is extremely volatile, however, I had a strong conviction about my short and resisted tightening my stop. I covered 50% of my position when price tagged $45.00 for the second time, and moved my stop to breakeven. I was very happy to cover the balance at $44.25 and be done with this choppy ride.

These are 5 minute charts.

P.S. A broken tooth at breakfast and emergency dental appointment scheduled for 11:30 kept me from work this morning. It also meant that the usual gapper scans would not fit into my trading day very well. So maybe that's the real reason why I was so aggresive on the open today.

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Posted by Jamie at 12/13/2006 09:43:00 PM 0 comments

Labels: Pivot Point, Short, Support_Resistance

Late Postings Tonight
My internet service provider has solicited me to be part of a focus group. Must me all those complaints I made during May when they were unable to provide me any speed.

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Posted by Jamie at 12/13/2006 01:14:00 PM 2 comments

Fade the Gap
I shorted the Qs on the open and I'm now short CAL .

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Posted by Jamie at 12/13/2006 09:49:00 AM 12 comments

Tuesday, December 12, 2006Steel Dynamics, Inc. (Public, NASDAQ:STLD) - Critique of Zoomie's Trade

Zoomie asked me to critique his STLD trade as pictured above. From a thirty minute timeframe, there is nothing to critique. Everything, from the entry, volume pattern and tweezer bottom reversal pattern are correct. Zoomie also has an uncanny ability to manage his stops and limit losses when a trade starts to go against him.

So, why didn't STLD generate a profit?

Pivot point support: After recently testing all time highs, STLD gapped lower and fell hard on the open. The only thing that saved it from going lower was a wall of pivot point support. The first test of notable support and resistance usually holds. The daily and 60 minute timeframes below highlight the support area.

From my own experience, it's not always possible to check longer term timeframes when stalking the perfect entry. But as soon as the trade is well underway, I like to check my support and resistance zones and map them out on the lower timeframe.

Hope this is helpful.

[url=]

[/url]
Posted by Jamie at 12/12/2006 10:38:00 PM 4 comments

Labels: Gapper, Pivot Point, Support_Resistance

Stock Tickr Blog - Interviews Zoomie (ex Fighter Pilot!)
Check out Dave's latest interview with Zoomie. Also, you can view Zoomie's trades at move the markets.

Jason is back in action today with three nice trades.

Trader Mike has solved the server problems!

[url=]

[/url]
Posted by Jamie at 12/12/2006 07:54:00 PM 2 comments

Labels: Blogs

Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

CAL gapped down on strong volume. The OR was a wide doji like stick. It was followed by a feeble attempt to bounce. The third bar was almost a bearish engulfing type bar. The market was very weak and I decided to short CAL as price took out $44.00 on the third 15 bar. Technically, I should have waited for the third bar to complete itself, but this was more about feel and I knew if I waited, I'd have a hard time getting in. I took a partial profit as price tagged support of last Thursday's high. I was stopped out on the balance about an hour later.

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Posted by Jamie at 12/12/2006 07:29:00 PM 0 comments

Labels: Dummy, Gapper

Pre-Market - Tuesday December 12th
Potential NR7 (Volatility Expansion) - AAPL, AVCT, STN

[url=]Akamai Tech (NASDAQ: AKAM): WR Hambrecht raises tgt, but suggests possible slight decrease in gross margins in FY07 (54.38 ) After hosting a meeting [/url]

more than offset by operational efficiencies, which should lead to overall operating margin expansion. As for Q4, firm thinks there could be 1-2 cents of EPS upside to consensus. Firm raises tgt to $60 from $54, or 38x revised FY08 est of $1.57.

[url=]Endo Pharm (NASDAQ: ENDP): WR Hambrecht downgrades to Hold from Buy; 2007 consensus too high.

Courtesy of Briefing.com
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Posted by Jamie at 12/12/2006 07:58:00 AM 4 comments

Monday, December 11, 2006NASDAQ Technical Picture - Narrow Range Trading Ahead of the FED

A weak open was quickly reversed and followed by a sharp rally. Unfortunately, by 10:15 EST it was all over and the market settled into a NR snooze fest. Typical fare ahead of a FED policy statement. Tech sectors were mixed but very little was gained or lost. Tomorrow's economic data includes the Trade balance at 8:30 and the FOMC policy at 2:15.

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Posted by Jamie at 12/11/2006 09:25:00 PM 0 comments

Labels: NASDAQ, NBR

Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

It doesn't get much better than this. CAL gapped up and rallied hard, formed a tweezer top candlestick reversal pattern and pulled back in an orderly fashion (no overlap of candlestick bodies and lower volume on the pullback) to its rising 10 period EMA. Upon tagging the EMA, it formed a small hammer reversal bar. My entry was a break of the high of the hammer. I took a partial profit as price retested the morning highs and sold the balance into the close.

Tweezer top - two candles with identical highs. In the CAL chart, notice how the second tweezer candle is also a bearish engulfing pattern.

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Posted by Jamie at 12/11/2006 07:21:00 PM 2 comments

Labels: Dummy, Gapper

Newer Posts Older Posts

hefeiddd · 发表于 2009-3-21 10:13

Thursday, December 14, 2006Stock Tickr Interview with the HighChartPatterns Team
Stock Tickr's Dave is very busy with the interview series and other goodies. This week, the team at HighChartPatterns share their trading insights. As mentioned in the preamble, the stock trader's narrative is always a great read. Enjoy!

[url=]

[/url]
Posted by Jamie at 12/14/2006 12:41:00 AM 0 comments

Wednesday, December 13, 2006Opening Gap Fade - Continental Airlines (NYSE:CAL) and NASDAQ 100 Trust Shares (ETF) (NASDAQ:QQQQ)

I shorted the Qs on the open because despite bullish retail sales there was nothing compelling enough in the Briefing.com news to push price beyond the intraday pivot point (black arrows on the chart). The entry was low risk because my stop was set just pennies above the pre-market high.

A few of you asked what conditions made me fade the Qs. The primary things that struck me this morning are outlined above. The pivot points are especially compelling and they are used by many floor traders (follow the herd). The rest is feel and that comes with experience.

I shorted CAL as soon as the third 5 minute bar took out the low of the second bar. I set my initial stop at $46.50 because I expected CAL to be much more volatile and because there is no real intraday resistance at the opening price level. The trade started out nicely, but shortly thereafter buyers stepped in and I felt I might me stopped out. Trading the open is extremely volatile, however, I had a strong conviction about my short and resisted tightening my stop. I covered 50% of my position when price tagged $45.00 for the second time, and moved my stop to breakeven. I was very happy to cover the balance at $44.25 and be done with this choppy ride.

These are 5 minute charts.

P.S. A broken tooth at breakfast and emergency dental appointment scheduled for 11:30 kept me from work this morning. It also meant that the usual gapper scans would not fit into my trading day very well. So maybe that's the real reason why I was so aggresive on the open today.

[url=]

[/url]
Posted by Jamie at 12/13/2006 09:43:00 PM 0 comments

Labels: Pivot Point, Short, Support_Resistance

Late Postings Tonight
My internet service provider has solicited me to be part of a focus group. Must me all those complaints I made during May when they were unable to provide me any speed.

[url=]

[/url]
Posted by Jamie at 12/13/2006 01:14:00 PM 2 comments

Fade the Gap
I shorted the Qs on the open and I'm now short CAL .

[url=]

[/url]
Posted by Jamie at 12/13/2006 09:49:00 AM 12 comments

Tuesday, December 12, 2006Steel Dynamics, Inc. (Public, NASDAQ:STLD) - Critique of Zoomie's Trade

Zoomie asked me to critique his STLD trade as pictured above. From a thirty minute timeframe, there is nothing to critique. Everything, from the entry, volume pattern and tweezer bottom reversal pattern are correct. Zoomie also has an uncanny ability to manage his stops and limit losses when a trade starts to go against him.

So, why didn't STLD generate a profit?

Pivot point support: After recently testing all time highs, STLD gapped lower and fell hard on the open. The only thing that saved it from going lower was a wall of pivot point support. The first test of notable support and resistance usually holds. The daily and 60 minute timeframes below highlight the support area.

From my own experience, it's not always possible to check longer term timeframes when stalking the perfect entry. But as soon as the trade is well underway, I like to check my support and resistance zones and map them out on the lower timeframe.

Hope this is helpful.

[url=]

[/url]
Posted by Jamie at 12/12/2006 10:38:00 PM 4 comments

Labels: Gapper, Pivot Point, Support_Resistance

Stock Tickr Blog - Interviews Zoomie (ex Fighter Pilot!)
Check out Dave's latest interview with Zoomie. Also, you can view Zoomie's trades at move the markets.

Jason is back in action today with three nice trades.

Trader Mike has solved the server problems!

[url=]

[/url]
Posted by Jamie at 12/12/2006 07:54:00 PM 2 comments

Labels: Blogs

Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

CAL gapped down on strong volume. The OR was a wide doji like stick. It was followed by a feeble attempt to bounce. The third bar was almost a bearish engulfing type bar. The market was very weak and I decided to short CAL as price took out $44.00 on the third 15 bar. Technically, I should have waited for the third bar to complete itself, but this was more about feel and I knew if I waited, I'd have a hard time getting in. I took a partial profit as price tagged support of last Thursday's high. I was stopped out on the balance about an hour later.

[url=]

[/url]
Posted by Jamie at 12/12/2006 07:29:00 PM 0 comments

Labels: Dummy, Gapper

Pre-Market - Tuesday December 12th
Potential NR7 (Volatility Expansion) - AAPL, AVCT, STN

[url=]Akamai Tech (NASDAQ: AKAM): WR Hambrecht raises tgt, but suggests possible slight decrease in gross margins in FY07 (54.38 ) After hosting a meeting with co's CEO and CFO yesterday, WR Hambrecht notes that mgmt indicated capex spending and average deal size elongation may lead to a slight decrease in gross margins in FY07. However, mgmt also indicated that gross margin pressures would be more than offset by operational efficiencies, which should lead to overall operating margin expansion. As for Q4, firm thinks there could be 1-2 cents of EPS upside to consensus. Firm[/url]

hefeiddd · 发表于 2009-3-21 10:14

Thursday, December 14, 2006Stock Tickr Interview with the HighChartPatterns Team
Stock Tickr's Dave is very busy with the interview series and other goodies. This week, the team

[url=]

[/url]
Posted by Jamie at 12/14/2006 12:41:00 AM 0 comments

Wednesday, December 13, 2006Opening Gap Fade - Continental Airlines (NYSE:CAL) and NASDAQ 100 Trust Shares (ETF) (NASDAQ:QQQQ)

I shorted the Qs on the open because despite bullish retail sales there was nothing compelling enough in the Briefing.com news to push price beyond the intraday pivot point (black arrows on the chart). The entry was low risk because my stop was set just pennies above the pre-market high.

A few of you asked what conditions made me fade the Qs. The primary things that struck me this morning are outlined above. The pivot points are especially compelling and they are used by many floor traders (follow the herd). The rest is feel and that comes with experience.

I shorted CAL as soon as the third 5 minute bar took out the low of the second bar. I set my initial stop at $46.50 because I expected CAL to be much more volatile and because there is no real intraday resistance at the opening price level. The trade started out nicely, but shortly thereafter buyers stepped in and I felt I might me stopped out. Trading the open is extremely volatile, however, I had a strong conviction about my short and resisted tightening my stop. I covered 50% of my position when price tagged $45.00 for the second time, and moved my stop to breakeven. I was very happy to cover the balance at $44.25 and be done with this choppy ride.

These are 5 minute charts.

P.S. A broken tooth at breakfast and emergency dental appointment scheduled for 11:30 kept me from work this morning. It also meant that the usual gapper scans would not fit into my trading day very well. So maybe that's the real reason why I was so aggresive on the open today.

[url=]

[/url]
Posted by Jamie at 12/13/2006 09:43:00 PM 0 comments

Labels: Pivot Point, Short, Support_Resistance

Late Postings Tonight
My internet service provider has solicited me to be part of a focus group. Must me all those complaints I made during May when they were unable to provide me any speed.

[url=]

[/url]
Posted by Jamie at 12/13/2006 01:14:00 PM 2 comments

Fade the Gap
I shorted the Qs on the open and I'm now short CAL .

[url=]

[/url]
Posted by Jamie at 12/13/2006 09:49:00 AM 12 comments

Tuesday, December 12, 2006Steel Dynamics, Inc. (Public, NASDAQ:STLD) - Critique of Zoomie's Trade

Zoomie asked me to critique his STLD trade as pictured above. From a thirty minute timeframe, there is nothing to critique. Everything, from the entry, volume pattern and tweezer bottom reversal pattern are correct. Zoomie also has an uncanny ability to manage his stops and limit losses when a trade starts to go against him.

So, why didn't STLD generate a profit?

Pivot point support: After recently testing all time highs, STLD gapped lower and fell hard on the open. The only thing that saved it from going lower was a wall of pivot point support. The first test of notable support and resistance usually holds. The daily and 60 minute timeframes below highlight the support area.

From my own experience, it's not always possible to check longer term timeframes when stalking the perfect entry. But as soon as the trade is well underway, I like to check my support and resistance zones and map them out on the lower timeframe.

Trader Mike has solved the server problems!

[url=]

[/url]
Posted by Jamie at 12/12/2006 07:54:00 PM 2 comments

Labels: Blogs

Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

CAL gapped down on strong volume. The OR was a wide doji like stick. It was followed by a feeble attempt to bounce. The third bar was almost a bearish engulfing type bar. The market was very weak and I decided to short CAL as price took out $44.00 on the third 15 bar. Technically, I should have waited for the third bar to complete itself, but this was more about feel and I knew if I waited, I'd have a hard time getting in. I took a partial profit as price tagged support of last Thursday's high. I was stopped out on the balance about an hour later.

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Posted by Jamie at 12/12/2006 07:29:00 PM 0 comments

Labels: Dummy, Gapper

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hefeiddd · 发表于 2009-3-21 10:15

Wednesday, December 13, 2006Opening Gap Fade - Continental Airlines (NYSE:CAL) and NASDAQ 100 Trust Shares (ETF) (NASDAQ:QQQQ)

I shorted the Qs on the open because despite bullish retail sales there was nothing compelling enough in the Briefing.com news to push price beyond the intraday pivot point (black arrows on the chart). The entry was low risk because my stop was set just pennies above the pre-market high.

A few of you asked what conditions made me fade the Qs. The primary things that struck me this morning are outlined above. The pivot points are especially compelling and they are used by many floor traders (follow the herd). The rest is feel and that comes with experience.

I shorted CAL as soon as the third 5 minute bar took out the low of the second bar. I set my initial stop at $46.50 because I expected CAL to be much more volatile and because there is no real intraday resistance at the opening price level. The trade started out nicely, but shortly thereafter buyers stepped in and I felt I might me stopped out. Trading the open is extremely volatile, however, I had a strong conviction about my short and resisted tightening my stop. I covered 50% of my position when price tagged $45.00 for the second time, and moved my stop to breakeven. I was very happy to cover the balance at $44.25 and be done with this choppy ride.

Fade the Gap
I shorted the Qs on the open and I'm now short CAL .

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Posted by Jamie at 12/13/2006 09:49:00 AM 12 comments

Tuesday, December 12, 2006Steel Dynamics, Inc. (Public, NASDAQ:STLD) - Critique of Zoomie's Trade

Zoomie asked me to critique his STLD trade as pictured above. From a thirty minute timeframe, there is nothing to critique. Everything, from the entry, volume pattern and tweezer bottom reversal pattern are correct. Zoomie also has an uncanny ability to manage his stops and limit losses when a trade starts to go against him.

So, why didn't STLD generate a profit?

Pivot point support: After recently testing all time highs, STLD gapped lower and fell hard on the open. The only thing that saved it from going lower was a wall of pivot point support. The first test of notable support and resistance usually holds. The daily and 60 minute timeframes below highlight the support area.

From my own experience, it's not always possible to check longer term timeframes when stalking the perfect entry. But as soon as the trade is well underway, I like to check my support and resistance zones and map them out on the lower timeframe.

Hope this is helpful.

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Posted by Jamie at 12/12/2006 07:54:00 PM 2 comments

Labels: Blogs

Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

CAL gapped down on strong volume. The OR was a wide doji like stick. It was followed by a feeble attempt to bounce. The third bar was almost a bearish engulfing type bar. The market was very weak and I decided to short CAL as price took out $44.00 on the third 15 bar. Technically, I should have waited for the third bar to complete itself, but this was more about feel and I knew if I waited, I'd have a hard time getting in. I took a partial profit as price tagged support of last Thursday's high. I was stopped out on the balance about an hour later.

hefeiddd · 发表于 2009-3-21 10:15

Monday, December 11, 2006NASDAQ Technical Picture - Narrow Range Trading Ahead of the FED

A weak open was quickly reversed and followed by a sharp rally. Unfortunately, by 10:15 EST it was all over and the market settled into a NR snooze fest. Typical fare ahead of a FED policy statement. Tech sectors were mixed but very little was gained or lost. Tomorrow's economic data includes the Trade balance at 8:30 and the FOMC policy at 2:15.

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Posted by Jamie at 12/11/2006 09:25:00 PM 0 comments

Labels: NASDAQ, NBR

Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

It doesn't get much better than this. CAL gapped up and rallied hard, formed a tweezer top candlestick reversal pattern and pulled back in an orderly fashion (no overlap of candlestick bodies and lower volume on the pullback) to its rising 10 period EMA. Upon tagging the EMA, it formed a small hammer reversal bar. My entry was a break of the high of the hammer. I took a partial profit as price retested the morning highs and sold the balance into the close.

Tweezer top - two candles with identical highs. In the CAL chart, notice how the second tweezer candle is also a bearish engulfing pattern.

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Posted by Jamie at 12/11/2006 07:21:00 PM 2 comments

Labels: Dummy, Gapper

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hefeiddd · 发表于 2009-3-21 10:16

Sunday, December 10, 2006SanDisk Corporation (Public, NASDAQ:SNDK) Revisited

Last week I posted a bearish flag alert for SNDK. I was day early on the call. In fact the morning after I posted my alert, SNDK gapped up invalidating the setup. However, by the following afternoon SNDK had succumbed to the weakness inherent in the setup and we realized that the previous day's rally was a dead cat bounce. The picture above is the 15 minute timeframe of last week's price action.

Where to next? Since this is third test of the $44.50 support zone, I have to assume that the test failed and we go lower. The first area of support is the recent lows at $43.25. Looking at the daily timeframe below, the near term target is a gap fill at $40.28, but in between those two levels we have another support are around $41.75.

In summary, SNDK is in a bearish trend. Two things need to happen on the daily timeframe in order for the bulls to take interest in the stock again: it needs to catch and hold its 20 day MA; and the RSI has to work its way back up to 50 and hang on that level.

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Posted by Jamie at 12/10/2006 10:23:00 AM 7 comments

Labels: Bearish_Flag, Support_Resistance

Friday, December 08, 2006Dummy Trade of the Day - NVE Corporation (Public, NASDAQ:NVEC)

Only one trade today as I had to leave the office at 2:00 EST. We had a weak open, but shortly after 10:00 things turned around. NVEC was a potential NR7 going into the session so I watched it closely. After a shaky open, it managed to hold yesterday's low as support in the early going. By 10:30 it looked well positioned to make a move higher so I took a low risk entry as soon as the 5th bar took out the fourth bar high. NVEC rallied nicely from $38.00 to $39.00 and then began to consolidate. After the ninth bar, I tightened my stop. By accident, I typed in $38.94 instead of $38.84. The stop out would have been inevitable either way. Once the consolidation started to narrow, I re-entered long just above $39.00 and took my exit at 1:30 just above $39.50.

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Posted by Jamie at 12/08/2006 07:21:00 PM 4 comments

Labels: Dummy, NR7

Pre-Market - Friday December 8th
This is not my trading watchlist. This is simply a list of stocks that showed some nice movement in the previous session. Bullish movers: AKAM, CCJ, QID, Crude, SLV, $STQ, $VIX (Key movement: people getting worried), MTG, PMI. Bearish movers: CMG, TDW, BUCY, TEX, XBH (Homebuilders), SNDK, SMH (so, semis in general), AAPL, RIMM, RACK, BIDU, CTSH, ANDE, CELG, VRTX, AMLN, GILD, GENZ, LEND, BSC, GS, NDAQ. Note: This is not meant to be a comprehensive list of all stocks that meet these qualifications. It is simply those which I have noticed and which caught my eye as I begin to put together my trading watchlist. -- ChartTrader @ Briefing Trader
My notes:

Jobs data seems to reinforce the soft landing theory which could be good for equities.

Potential NR7 NVEC

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Posted by Jamie at 12/08/2006 08:01:00 AM 0 comments

Thursday, December 07, 2006NASDAQ Technical Picture - Profit Taking Ahead of Jobs Data

We gapped up on the open and it was downhill from there. The SOX opened with a multi-month high and proceeded to carve out a bearish engulfing bar for the day. All tech sectors were weak ahead of tomorrow's much anticipated jobs data. Trying to determine how the markets will digest jobs data is always tricky. For some interesting insights on this topic check out Yaser Anwar's Investment Ideas

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Posted by Jamie at 12/07/2006 11:25:00 PM 0 comments

Labels: Bearish Engulfing, NASDAQ, SOX

Dummy Trade of the Day - Techwell, Inc. (Public, NASDAQ:TWLL)

TWLL was another potential NR7 play that I posted this morning. As I mentioned, it is not very liquid and so not for everyone's taste. After a quick lift on the open, it chopped around a bit before heading back up towards resistance. At resistance, it traded sideways for a long time until the rising 10 period EMA caught up. This presented a low risk dummy entry on a break of Monday's high. Lots of slippage on the entry, but it moved very nicely after that. In order to avoid slippage on the exit, I let it go when it appeared to be carving out a lower high.

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Posted by Jamie at 12/07/2006 08:06:00 PM 0 comments

Labels: Dummy, Gapper, NR7

Trade of the Day - Research In Motion NASDAQ (RIMM)

RIMM was set to crater from two downgrades this morning. Yesterday's NR7 bar hinted that the expansion would be quick. There was no low risk entry off of the OR, so I decided to scale into the position starting with 100 shares on a break of the OR low. This is a pricey stock and errors can be costly, hence the scaling in tactic. When price showed me that it was not going back to test $132, I added another 100 shares and when price took out the second bar low, I added another 100 shares. My target was $130 because round numbers tend to have strong psychological meaning for support and resistance. My original stop was $1.00. By the time price broke $131, I tightened the stop to $132.

Trader X pointed out that a low risk dummy entry could have been taken on a break of the 10th bar low. Notice how bars 8-10 all had highs of $131.15 reinforcing this as a strong resistance level.

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Posted by Jamie at 12/07/2006 07:41:00 PM 3 comments

Labels: Dummy, Gapper, NR7

Pre-Market
Looking at potential NR7 setups this morning RIMM (downgraded at Morgan Keegan) and TWLL (not very liquid).

Running late so that's it for this morning.

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Posted by Jamie at 12/07/2006 08:59:00 AM 3 comments

Labels: NR7

Wednesday, December 06, 2006NASDAQ Technical Picture - More of the Same NR Chop

Yesterday and today were NR days with lots of fakeouts and failures. I'm cautious about trading just one timeframe under these circumstances, so I'm keeping a wide range view of the 60 minute timeframe as well as the 15 minute on my screen at all times.

Today was a mixed bag for tech with no big winners or losers. Expect more of the same chop until Friday's jobs data. Initial Claims tomorrow at 8:30.

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Posted by Jamie at 12/06/2006 09:31:00 PM 2 comments

Labels: NASDAQ, NRB

highchartpatterns - 2 for 2
Last night the guys at highchartpatterns posted two freebies on their weblog - UARM and NTRI. They were 2 for 2. Nice work! Tonight they talk about timeframes.

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Posted by Jamie at 12/06/2006 08:47:00 PM 0 comments

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hefeiddd · 发表于 2009-3-21 10:17

Wednesday, December 06, 2006Dummy Trade of the Day - Marvell Technology Group Ltd. (Public, NASDAQ:MRVL)

MRVL showed up on my gapper scan. A quick look at the daily timeframe showed that yesterday's bar was an NR7 so I went long on a break of resistance on the fourth bar and an uptick in volume. MRVL then stalled as it retested former resistance but managed to hold as support. It progressed in an orderly fashion for the better part of the day. In mid afternoon it attempted to take out the midday resistance but failed and that's when I took my exit.

GES was a low risk dummy entry looking for an extension of yesterday's big move. As you can see from the chart, it gave a good try but in the end it failed and I was stopped out for a tiny profit.

BSX was another gapper from my scan. I was looking for the elusive midday momo move, but it rallied up to the morning high and came right back in. I was anticipating this and I set a tight stop. Good for 17 cents.

AKAM was a low risk short entry. My target was the morning support area and I was happy to cover as soon as I saw that support was going to hold.

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Posted by Jamie at 12/06/2006 07:18:00 PM 0 comments

Labels: Dummy, Gapper, NR7, Short

Technical Trade Idea - SanDisk Corporation (Public, NASDAQ:SNDK)

Bearish flag alert on SNDK. I'm watching for a high volume break of $44.50.

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Posted by Jamie at 12/06/2006 12:31:00 AM 2 comments

Labels: Bearish_Flag, Technical

Tuesday, December 05, 2006NASDAQ Technical Picture - Spinning Top?

Just a quick post tonight to highlight a potential spinning top on the NASDAQ. Crude inventories tomorrow at 10:30.

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Posted by Jamie at 12/05/2006 11:33:00 PM 0 comments

Labels: NASDAQ

Trade of the Day - Guess?, Inc. (Public, NYSE:GES)
One winner and two failures. I had a lot of trouble with the internet at work today. Scans were definitely too taxing so I had to stick with my usual suspects.

GES was an NR7 setup after two inside days. It opened weak and tested yesterday's low on the OR bar. The second bar was NR, and the third and fourth bars lifted price back up to resistance on increasing volume. My entry was a break of resistance with a stop just below the fourth bar. The NR7 setup worked beautifully - notice the price and volume expansion on the break. I knew this couldn't last for very long so I tightened my stop and was stopped out at $64.75.

Keep this one on your watch list for tomorrow as it is on the cusp of a breakout on the daily timeframe below.

RMBS was another potential NR7 - long off of a hammer reversal, but it failed and I was stopped out for a small profit.

SNDK was strong gapper on the open and I took a long entry on the first consolidation, but it also failed and I decided to exit before I was stopped out.

What is NR7? NR7 is the narrowest bar over the last seven trading days. Based on volatility, it foreshadows a potential explosive move through price and volume expansion. I came to learn about NR7 from Trader Mike through this very enlightning post. I look for NR7s on both the daily and intraday timeframes and it has been extremely useful in spotting momo moves. Thanks Mike! Also check out this post by Alan Farley on coiled springs (NR7).

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Posted by Jamie at 12/05/2006 07:07:00 PM 15 comments

Labels: NR7

hefeiddd · 发表于 2009-3-21 10:17

Wednesday, December 06, 2006Dummy Trade of the Day - Marvell Technology Group Ltd. (Public, NASDAQ:MRVL)

MRVL showed up on my gapper scan. A quick look at the daily timeframe showed that yesterday's bar was an NR7 so I went long on a break of resistance on the fourth bar and an uptick in volume. MRVL then stalled as it retested former resistance but managed to hold as support. It progressed in an orderly fashion for the better part of the day. In mid afternoon it attempted to take out the midday resistance but failed and that's when I took my exit.

GES was a low risk dummy entry looking for an extension of yesterday's big move. As you can see from the chart, it gave a good try but in the end it failed and I was stopped out for a tiny profit.

BSX was another gapper from my scan. I was looking for the elusive midday momo move, but it rallied up to the morning high and came right back in. I was anticipating this and I set a tight stop. Good for 17 cents.

AKAM was a low risk short entry. My target was the morning support area and I was happy to cover as soon as I saw that support was going to hold.

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Posted by Jamie at 12/06/2006 07:18:00 PM 0 comments

Labels: Dummy, Gapper, NR7, Short

Technical Trade Idea - SanDisk Corporation (Public, NASDAQ:SNDK)

Bearish flag alert on SNDK. I'm watching for a high volume break of $44.50.

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Posted by Jamie at 12/06/2006 12:31:00 AM 2 comments

Labels: Bearish_Flag, Technical

Tuesday, December 05, 2006NASDAQ Technical Picture - Spinning Top?

Just a quick post tonight to highlight a potential spinning top on the NASDAQ. Crude inventories tomorrow at 10:30.

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Posted by Jamie at 12/05/2006 11:33:00 PM 0 comments

Labels: NASDAQ

Trade of the Day - Guess?, Inc. (Public, NYSE:GES)
One winner and two failures. I had a lot of trouble with the internet at work today. Scans were definitely too taxing so I had to stick with my usual suspects.

GES was an NR7 setup after two inside days. It opened weak and tested yesterday's low on the OR bar. The second bar was NR, and the third and fourth bars lifted price back up to resistance on increasing volume. My entry was a break of resistance with a stop just below the fourth bar. The NR7 setup worked beautifully - notice the price and volume expansion on the break. I knew this couldn't last for very long so I tightened my stop and was stopped out at $64.75.

Keep this one on your watch list for tomorrow as it is on the cusp of a breakout on the daily timeframe below.

RMBS was another potential NR7 - long off of a hammer reversal, but it failed and I was stopped out for a small profit.

SNDK was strong gapper on the open and I took a long entry on the first consolidation, but it also failed and I decided to exit before I was stopped out.

What is NR7? NR7 is the narrowest bar over the last seven trading coiled springs (NR7).

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Posted by Jamie at 12/05/2006 07:07:00 PM 15 comments

Labels: NR7

hefeiddd · 发表于 2009-3-21 10:18

Monday, December 04, 2006NASDAQ Technical Picture - Setting Up for a Retest of Recent Highs

I wasn't expecting such a pop on a day that started out with the disastrous Pfizer news. Merger Monday, declining oil, and the lack of any economic data to deal with set the stage for some more buying. Volume kept pace with last week's selloff, so for the time being, I'm leaning towards a retest recent recent highs. I don't want to speculate on a bull trap, but the idea is in the back of my mind. But then again, it might just be the Christmas season that keeps this market so optimistic. Most tech sectors look fairly optimistic (a few bullish engulfing patterns), the weak link being networking.
Tomorrow we have some economic data: Productivity at 8:30, followed by Factory Orders and ISM at 10:00.

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Posted by Jamie at 12/04/2006 10:15:00 PM 0 comments

Labels: NASDAQ

Stock Tickr Blog - Great Interviews and Other Cool Stuff
Dave interviews Trader Gav and he has an interesting story. I was really impressed by Gav's culinary ambitions. Also check out Dave's study on "Performance by Time of Day"

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Posted by Jamie at 12/04/2006 09:41:00 PM 0 comments

Dummy Trade of the Day - Akamai Technologies Inc. (Public, NASDAQ:AKAM)

BRCM gapped up on the open and consolidated just below Friday's resistance area. I took a long position on the third 15 minute bar on a break of resistance. I don't know why I stayed in the trade as long as I did. Wishful anticipation, I guess. But after the first leg up, BRCM just consolidated sideways for the rest of the session.

AKAM gapped up wide on the open. It had a lot of momentum (probably a squeeze) and it was impossible to get in until mid-morning when it paused briefly to consolidate. I took a long entry on an uptick in volume knowing this was a power scalp. After 20 minutes I tightened my stop knowing it didn't have much longer to run. I was stopped out at $49.75.

After a weak open, CAL managed to join in the rally. I decided to take a long entry after support was tested and held. The narrow consolidation in the mid-late afternoon looked like it was setting up or a strong finish, but it just couldn't close above Thursday's reaction high.
Although it was a big day for the market, for the most part, my trades felt like we are still in range trading mode.

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Posted by Jamie at 12/04/2006 07:35:00 PM 0 comments

Labels: Dummy, Gapper

Sunday, December 03, 2006NASDAQ Technical Picture - Rounded Top Followed by Lower High Signals Weakness
Despite Monday's swoon and Friday's early selloff, we are still holding the multi-month trendline on a closing basis. Friday's mid-afternoon rally felt like it was more than just short covering going in to the weekend. For the time being we can ascertain that we have formed a bearish rounded top (note that the rounded tops on both the INDU and S&P are much more prominent that the NAZ), followed last week, by a lower high. Volume on bearish days is only slightly higher than on bullish days. So we await a breach of the trendline on a closing basis in order to confirm that a correction is in play.

Personally, I would like to see a test of the rising 50MA after this multi-wave uptrend, followed by a Christmas rally to higher highs ;-)

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Posted by Jamie at 12/03/2006 12:41:00 PM 0 comments
Labels: NASDAQ, Trendline, Volume

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