AI
Thursday, March 25, 2004 1:50:56 PM
SMH "Ticket to Earnings Season" target entry (38.38) (15minute chart) 38.08 to 38.37 (see the resistance areas on the 15 minute chart) from there we go of course to the daily chart to check the next areas of resistance (gradient of green, greener and greenest on the daily) Had the SMH tanked this morning by 10:00, (which DID NOT happen) we might then look at the weekly chart patterns for lower support levels. The SMH was strong which led to a chain reaction among some of our favorite techs (SNDK, NSM, NVDA, ATYT) which were placed JUST AS LONG on today's list and so we can track the entire cycle and where we might be going from here. (one day at a time)
Somewhat concerned about tomorrow economic reports but we figured we might move PRIOR to the Friday reports and of course near the end of this week since we were heavily short the first two days and lessening and closing most leftover short/puts on Wednesday.
Nothing was a sure thing, no prognostications and shouting rampant bullishness, just a plan of our own to see if we can capture this relief rally. Is it sustainable? We don't know we play the ttrend.
15-minute chart separated from the group
15-minute, daily and weekly SMH chart
Somewhat concerned about tomorrow economic reports but we figured we might move PRIOR to the Friday reports and of course near the end of this week since we were heavily short the first two days and lessening and closing most leftover short/puts on Wednesday.
Nothing was a sure thing, no prognostications and shouting rampant bullishness, just a plan of our own to see if we can capture this relief rally. Is it sustainable? We don't know we play the ttrend.
15-minute chart separated from the group
15-minute, daily and weekly SMH chart
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