rn/trader
2 posts
msg #31243
- Ignore rn/trader |
2/29/2004 7:18:04 PM
EWZuber - Thanks for the response. Here to learn.
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EWZuber
1,373 posts
msg #31257
- Ignore EWZuber |
3/1/2004 7:18:57 PM
ASX...doing very well. Getting a bit top heavy. It had to plow through huge Ask sizes today.
EMRG...went down the can. This is what happens to me when i don't follow my own trading discipline. Someday I'll learn. This should have been closed out when it broke TL Support at $2.27. This would have closed it in the money. Instead I got out today at considerable percentage loss. I was so sure that it would continue higher, that is always a big mistake cause the market doesn't care what I think.
Looks like it wants to test the 100 DMA @ $1.80 as support. I'll be watching for a re-entry point.
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EWZuber
1,373 posts
msg #31258
- Ignore EWZuber |
3/1/2004 7:20:44 PM
rn/trader
I'm here to learn too.
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EWZuber
1,373 posts
msg #31261
- Ignore EWZuber |
3/2/2004 2:47:07 AM
NAVR...showing signs of life again. Has broken TL Resistance on Daily chart. Hourly chart looking very bullish.
EGHT...It bounced down off of the 15 & 25 DMA today but is oversold on hourly chart now and may attempt another test. The 15 DMA is flat and could serve as support @ about $3.88.
HDTV...looks interesting, forming a double bottom on hourly chart.
CRDS... very interesting. Technically looks very good for a short term trade. +Xover on Weekly and Daily chart. Bouncing up off the 200 DMA.
NMGC...worth watching too.
All JMHO
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EWZuber
1,373 posts
msg #31269
- Ignore EWZuber |
3/3/2004 2:05:42 AM
Things were looking pretty good untill Greenbomb spoke today.
.COMP closed below a 7 month Supporting TL again today as it came up against resistance at the 50 DMA but the index has not closed significantly below the horizontal level where the TL was broken. Volume was extremely high @ 2.8 Bill. shares coming in as the second highest volume since this bull market started in Oct.2002. That is in contrast to the buying volume which has been relatively light during this last accumulation phase starting 2/24.
This indicates, IMO, that institutions are selling into retail generated strength.
Short term, .COMP closed below a 6 day Supporting TL @ 2,041 and the 25 HR.MA @ 2,040 so if it doesn't move higher soon in the morning it will likely drop to test the 50 HR.MA @ 2,027 as support.
Weekly chart stochastics are attempting to begin a new accumulation phase which should help keep the market from tanking too badly over the next few weeks.
JMHO
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EWZuber
1,373 posts
msg #31271
- Ignore EWZuber |
3/3/2004 11:23:41 AM
Bought EMRG again @ $1.84 as it broke TL Resistance and tried to sell as it broke TL Support @ $1.97. Even though I was the first to post at that price the order sat for 20 minutes and traded thousands of shares at that price without mine executing. Very frustrating. Ended up selling at market @ $1.93. Oh well, better than a poke in the eye.
.COMP dropped to test the 50 HR.MA as support @ 2,027 and broke through and appears to now be testing it as resistance.
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EWZuber
1,373 posts
msg #31273
- Ignore EWZuber |
3/3/2004 4:13:10 PM
Missed the re-entry on FMDAY. All my watch lists got deleted from my hard drive.
FMDAY closed up 84.5% today !!!! AAAAHHHH
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EWZuber
1,373 posts
msg #31276
- Ignore EWZuber |
3/4/2004 5:33:48 PM
ASX looking good. In had a suspicion that it would gap up tomorrow morning. Picked up some just before the close. This is not technically set up the way i like, however what I found compelling is the lack of selling volume even when the stock gapped down. This tells me that share holders are hanging on to positions.
Now I see that INTC has lowered forcasts for Q1. That could be real bad for semi's tomorrow.
Looks like EMRG wants to move higher.
There have been dozens of promising set ups out there right now, the problem is trying to decide which ones to choose. INTC may set things back some though.
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donblack32
17 posts
msg #31292
- Ignore donblack32 |
3/5/2004 10:24:06 AM
Can anyone explain why one of our MM picks (FAX) behaved the way it did this morning? It went from 6.50 to 3.50 in a nano second then returned. Of course, it triggered my stop loss. These kinds of things scare me.
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wallman
299 posts
msg #31297
- Ignore wallman |
3/5/2004 6:44:18 PM
Hi Don....couple of observations here,first,this must have been a paper trade?,because i see a lod on FAX of 6.31 both on Scottrade and on PN,also i know that being a AMEX stock,at least on the broker i use,Scottrade,that these "false" gapdowns and gapups appear quite frequently,in the last week i've seen it happen to GEB,HBY,APT,i know for a fact it didn't happen to them ....also if as in MM you are talking of the Muddy Method,FAX would never be considered as a watch,if you read the files you'll see NO mutual fund "type" stocks such as FAX,a prime income fund stock,are ever considered,look at the 52 week high and low of this stock,7.06 and 4.72,not even 100% in the spread,to me the risk/reward ratio in these type of stocks is not even close to being on my side....as far as hard stops go,if this did happen to FAX,this is why i never use them,a gapdown such as this can really hurt,imo you are better off taking your chances that you will at least recoup some of your losses from these gapdowns,a hard stop won't protect you in situations when the price blows right through your stop anyway,i had it happen to me on EDEN on 3-6 where i was down 40% at the open,on 3-13 i took a 25% gain on this stock,a difference of 65%!
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