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RSI-5 hourly at 28
and daily is above 30 has been spared the double dip scare.
QQQQ H/S pattern
I'm not much of a head and shoulders trader, and do not think this is one, it is lopsided and incomplete.
:) How many people do you see walking around with those kind of shoulders?
chart is from ChartAdvisor.com date feb12
Another opportunity, to pull the trigger,
another gift. another chance being presented...what ya gonna do?
just how many times does santa plan on stopping by this month?
for those in cash, what is your downside risk? $40.10? $39.99?
Market View Update
Based, on this symmetrical pattern, (if view is correct) the downside target is $37.25. We will know if the view i have is correct, soon enough.
We have some heavy hitters (advanced traders) in our group. Among many are Pokersam and rcptrader, cad92648 (if he sticks around) are the camps
I am impressed with pokersam and cad92648 (read his c/s post)
Here is the message;
1, both camps have a time frame of 2weeks for a rally or crash.
2, do not be cemented in either camp. Follow your pattern first then line it with the bear/bull camp thats fits you.
this message is not a knock on either camp, just an observation
RSI-5 update,
thanks gleno, that was my lazy/quick post,
1. resistance
2. support
3. rsi play (double dip?)
4. stoch resistance
ALL, rsi-5 play, daily charts,
Upside target from last week was mid bollingers. As you can see mid-bollinger is creeping below resistance, so we'll have to lower price below $41.50. Worse case for the rsi-5 play is another close below 30 (double dip), Which has the possibility of setting up a break below support (blue).
If that happens, "Your bull fears will then be set in motion" but not a problem, target is still mid-bollingers.
re; BUY time,
sorry about that, thought we were gonna get a downward spike,
we could get another chance for buy/cover depending on your intraday trendlines (i do not watch/use) Go in the direction of break or fail.
current numbers with-in the rsi-5 play are $40.00 to 41.50/.75.
RSI-5 numbers are effective until red or blue line breaks,
Q's daily chart
BUY time, here we go,
i'm not looking at any charts, i'm looking at price.
Q's just broke .60cents and now looking for the spike/pause
prepare to cover/buy, which-ever, 40.30 is good, 40.10 is greed,
Todays orders
sell 41.40-41.50
buy below 40.50
Today looks like it will be a buy opportunity. Wait til noon to buy if market gets nasty. Or if your by the computer when there is a downside spike, buy at the pause.
position is 100% long, so i will not be buying anything.
RSI-5 still playing out
rsi-5 play has been hogging the action and will be milking it here til the breaks.
QQQQ, DAILY chart
Stockcharts.com extra bars,
Stockcharts has added a nice feature..extra bars. Why? Cause some of yas are getting too good.
Do you believe it?
I don't know if stockcharts is the first with this feature. But it tells me that there has been sufficient amount of trader prediction to warrant such a software update. So my question is; would there be "software evolution" if most of T/A traders were wrong? Or am i waaay out?
Weekend Review
Traders did an excellent job posting their charts, comments, opinions and exchanging idea's. No, you absolutely do not take advise from a message board. Thats not the case here. It is not hard to weed-out the fakes. Most traders have done extensive studies by the time they made it here.
What i got this w/e? 1245 is a buy and 1275 is a sell.
Also we have 2 new members stoking the coals, TREND1, cad92648.
Yes I will be harping once a week about posting charts and feed-back. Why? Because somebody is reading your post, it is the piece that fits their puzzle and just as important, YOU may learn something.
cad92648, nasdaq 2900
welcome and good impression first day out..
I was laughing (out loud) at your numbers until i got to the part about 16 P/E. Now i'm not laughing. So, suppose your reading of the charts is correct (nasdaq to 2900). Besides the 16 P/E. What would be the catalyst? 900 points in 3months is a steep climb. Earnings? Fed lowers rates? Break-thru in energy supply?
FreeMarkets, ETF Allocation,
I have heard of sector rotation and don't really believe in chasing it that much. I believe they all cross at years end and its too much work. A true comparison of rotation would be, compare qqqq to xlb,xle and xlf. The etf's spy, iwm, mdy are closely related, +/- 5%
traders can say, oct-dec 05, xlf outperformed smh, but my way of thinking is; they both went up. So what i'm saying is; get the most of the sector you are already familiar and consistant with.
On another note;
I found a good toy to play with (RSI-5) and will not be using T/G any time soon.
lol brother, and have fun
comparison.
http://finance.yahoo.com/q/bc?t=6m&s=SMH&l=on&z=m&q=l&c=xlf%2Cxlb
closing for the today
will try again tonite
TREND1, Retrace system,
sorry again, someone still tugging.
SMH retrace; I see the #4 failed and buy below redline, sell at retrace. Trying to follow and have questions.
1, #9 sept-oct was there a buy/sell
2, are you currently short? or still holding #11.
TREND1, Retrace system,
sorry about the first reply, some0one was tugging at me.
SMH retrace; I see the #4 failed and buy below redline, sell at retrace. Trying to follow and have questions.
1, #9sept-oct was there a b
TREND1, Retrace system,
Pokersam, bear den report and wave count,
Is the wave count still in-effect. If so where are we at? Also, could yo add Wave Count in the header of wave count posts.
Den Report,
I see you and rcptrader agree on spx upside target 1274-1275. That also means you don't see a break-down below 1245 anytime soon 1-2 weeks. Which leads me to conclude that Q's is a hold play or buy if we dip on monday..yes?
GLENO34 spikey candles
Of all the candles i rely on, "spikey" is it. Its a trend change candle. But i only use it to complement tradible indicators. I am perplexed by the spx candle formation, and i think wall street is too. I think they had stand-ins on the floor those days. I will stick with trendlines, and only use candles as a "neener neener"
And re-analzye of this formation says the small white-body is higher than the red.
spx candles daily chart
CaribbeanJim, going with #1,
i'm a bull by nature and by trade, i'm picking #1 least for the first half of this year, based on my take from briefing.com and b.brinker.
briefing called for a no upside action first half of year, and reading between the lines on brinker news-letter says we hit a top.
if i'm wrong, i'll join ya with scenario 2, very soon.
lol
woodfish-KovuLK ndx and oils
Kovu, yes i do see the head and shoulders developing, and if true, its a shorties dream come true. Even "I" will short this one.
woodfish, i like your oils chart, did a compare with oih/xle/dja. OIH outperformed xle, thanks, i'll pass this on to my oil traders.
All;
above situation is my exact point why everyone should post their feedback, opinions and charts. Brothers, if kovu's
head and shoulders come true, you will all witness/participate in another great gift.
comparison
http://finance.yahoo.com/q/bc?t=1y&s=OIH&l=on&z=m&q=l&c=%5Edja&c=%5EDJI
Next play Stoch & Resistance
I still believe we are in a down trend. but here is a chart setting up for the Stoch Play or resistance. The lines have been drawn. We are about to break. longs/shorts Set your intraday sell orders at resistance (line-A). Cover short or hold long position above resistance only if you get stoch support confirmation (C.)
your sell numbers are 41.40 41.50, take the shot, if you have a target. You also have greed intraday numbers above the red-line. That is a good place to short (if you have a short play)
I do not believe we'll cross the red line. But am ready to change (mind set). If we do, i will need supporting action from stoch and macd histos. So, prepare your-selfs for red or blue break. RSI-5 traders know what ya gotta do.
we are definitely at a crossroads, take the shot if you have one and don't be cemented in your bull/bear thoughts.
rcptraders chart analysis
am really stretching symmetricals here, but analysis of rcp's 30 minute chart say's
1. agree on bollinger condition,
2. green is target area for this chart
3, above target area will put you into next play or short
4. below green is another chance to long/cover short
qqqq 30 min
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Posted by: rcptrader
In reply to: rcptrader who wrote msg# 9771 Date:2/10/2006 4:37:09 PM
Post #of 20179
A solid piercing of the upper band on the 30 min VIX together with a solid piercing of the lower band of the 30 min QQQQ is usually good for a bull reversal signal. Piercing of the opposite bands is also good for bear reversal signal.
Where is rcptrader?
what happened to your posts?
Trading Methods & weekly review
Thanks to all contributions made this week. The following message is posted while it's fresh in mind. Truly, i am not trying to be "cocky". I had a great week. Things went the right way. This post is to share and give back to the community that gave to me. I believe I am moving up to the next level of trading. I see Chico is also morphing to the next level. So by all means, follow along as we struggle together. Advanced traders could also benefit. There are all kinds of methods, here's a few i can relate to. It's time to play with my kids, so i'll try to be back before monday to exchange idea's.
Remember, somebody is reading your post, it is the piece that fits there puzzle
***Trading Methods***
CONFIDENCE;
Is very important. It is perhaps 80% of your trading abilities, it is key. You may as well hang-up your indicators with-out it. Get fear/greed under control then start building confidence.
BIAS:
You are a bull or bear does not matter. D'ont be cemented in your direction. Prepare to change
Wrong Call;
Prepare to be wrong. Change when you are wrong. Learn how to re-act when wrong. Pause and Reflect
Set-ups;
Is an advanced technique. Set up all possible play combinations in your arsenal, then go with the one that is working, that is "winning".
Trendlines;
Lines also help build confidence. Find the line, when it breaks go with it. Be on the side of the break-out.
Target;
Set your target. meet target, sell target.
View;
Get the right view. if you have the wrong view, change picture. I say again if you have the wrong view, "change picture".
Instincts;
no not feelings, not greed, not fear, not exuberance. There was a clue slightly hidden from your view and you barely missed it. That is instinct, there was just enough of a clue, refine it.
NOISE; Simple, cut out the noise
CASH; is a position
RSI-5 traders,
RSI-5 play is still in effect, let it play out,
and yes Absolutely, the market could crash monday,
but will assess that condition when we get there,
i will try to post some numbers this week-end,
i believe our target is still rsi=50, upper trendline or mid-bollingers
it could be a battle getting there, but we are still with-in the zone of the RSI-5 play,
lol and have a good week-end
Traders Post Your Charts,
(i'm talking to traders at my level) right or wrong lets see what you have,
If right, i want to see what you did right and if wrong lets see if the board can analyze your situation or at least make a note to self.
up brothers, i'm going up,
100% long, see ya,
2xBe & Gleno hammer,longtail,shadow yes,
i call it a spikey candle cause it looks (to me) like a spike (a nail)
sorry no more, gotta get something to eat.
$SOX forming symmetrical
(last post before the close)
NOW or this w/e, study semiconductors, $sox & smh.
I have no call on smh but sox is forming a set-up,
also, i'm tapped-out, 100% long,
$sox symmetrical DAILY chart
QQQQ, spikey candle
Currently, Q's daily chart is forming a spikey candle. This candle formation at closing speaks loud and clear for future direction.
On another note; when posting, i will try to remember that i am addressing daytraders as well as RSI-5 traders.
QQQQ candle
Day-traders
your, charts are real interesting to me, really.
i will not trade like that but i do find it fasinating.
GLENO34, iteresting chart,
thats a daytrade manuever(chart)?
I'm getting a better picture on some of our members time-frames, and why they enter/exit trades in mid-day. Interesting indeed
re-COP is not a buy, yet
sorry about that, thought i had one on the hook, but COP target is 57 before going long,
and MXIM chart from an earlier post
COP symmetrical
MXIM
Anyone, COP is a buy,
COP is at bottom of trendline
be back with annotations,
http://finance.yahoo.com/q/ecn?s=cop
Play update
thought i was gonna get a lift off, so here are possible downside plays
1, market slides all day due to deficit, long at close
2, market breaks-down at noon, long at close
3, market rallys at noon,??? sell? hold?
Order change & Position
bought market at 40.30, position = long
could get 40.00 by end of day(we'll see)
40.30 is bullish behavior, below 40.00 is greed/shake-out
woodfish, mxim symmetrical
mxim showing a symmetrical, and if true, target is 34+, good dump,
no time to annotate,
draw your lines with-in the last 4 price labels,
then subtract lowest from highest = $4.49 price break-out,
we will know if view is correct when price breaks below lower line,
http://stockcharts.com/h-sc/ui?s=MXIM&p=D&yr=0&mn=3&dy=0&id=p07073009497
Todays play
RSI-5 is still in play. And if we double dip, then jump straight to support play, $40.16. I am trying to think is terms of what the RSI wants to do and in terms of auction mentality. I believe we are testing support again because there was no big sell off on tuesday. Hit support n go back up to resistance.
buy orders are 40.40- 40.30- 40.00
sell orders = none
setting buy order at 40.40,
"prepare to be wrong"
I don't believe will blow thru support with-out testing upper trendline. Have a plan just in-case.
closing for tonite,
will post orders in the morning,
long/short its all good, keep up the good work.