Replies to post #17098 on Strategy Central

[kenwong]

euterpe1: Bought the Open, Stops & Market Orders

I did buy the open but what luck.

Bought long QQQQ at the open at 54.21. I immediately placed a stop limit order at 54.23. Price heads up at 54.28 and then pulls back to 54.23 pulling me out with a small profit.

I then rebuy long at 54.22. Since I just got dinged with a stop limit order, I decided to grab profits with a market order to sell at 54.26. Then price heads up to 54.40 after I sell.

Still, I'm going to keep using seat belts (stop limit orders) when I drive.

Last price 54.37. Trading by 1min & 5min charts both using only a CCI(15). Also watching support & resistance lines on both.

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Posted by: euterpe1
In reply to: kenwong who wrote msg# 17097 Date:11/6/2007 10:49:22 PM
Post #of 17099

Futures are down 6 right now. Of course, that could change in 11 hours.

Looks toppy, charts courtesy of FootQuarters:

https://realtime.bigcharts.com/custom/etrade-com/power/chart.asp?time=3&freq=7&compidx=aaaaa%3A0&comp=&ma=6&maval=100,18,50&uf=8&lf=268435456&lf2=4&lf3=32&type=1&style=320&size=3&sid=0&o_symb=&startdate=&enddate=&show=true&symb=spy&draw.x=79&draw.y=12

Buy the dip:

http://investorshub.advfn.com/boards/read_msg.asp?message_id=23858509