Trader333
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It would depend upon whether price action were to move this above $53.10 (approx) or move below $51.50 (approx). It would also depend on the associated volume pattern at the time of any break and also what the Level II screen displayed at the point at which I would wish to time my entry.
So it is not a "Yes" or "No" answer for me and depends on the factors I have discussed above.
Paul
So it is not a "Yes" or "No" answer for me and depends on the factors I have discussed above.
Paul
Lord Flasheart
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des44 said:
Id sell just as it looks like a lot of ditribution going on
roguetrader
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Since you are a swing trader I'll assume you are talking about swing, (not my forte) But the easy deffered answer is no, "not right now" Stock is a mess on the 60 min chart I would be concerned on the volume that came in on the break of the 20 ma and the susequent lack of conviction on the rebound from that from a long perspective, however by the same token, even with that injection of volume to the downside, it didn't get very far. Would take a break of either of your blue lines with a significant increase in volume to get me excited. But then I'm not a swing trader. What do you see when you analyse it?
Minor upside as I see it if one looks in a weekly chart. Nasdaq is very bullish at the moment so who knows? Traps are created in the short charts - from the daily down to the minute chart.
adding: I trade a very limited amount of stocks at the same time trying to catch them at resistance(shorting) or support (long) - fundamentals are not bad either because they are somewhere behind in the valuation. At the moment I´m in AZN (P/E19.5) and some networking stocks and I suspect there are lots of MMs shorting AZN at the moment. One day some buyers will close the door and the stock is on fire. The problem is how to time these actions (up or down). A "good" chart is a necessity. Keep an eye on the dollar if you trade US-stocks with European currencies.
adding: I trade a very limited amount of stocks at the same time trying to catch them at resistance(shorting) or support (long) - fundamentals are not bad either because they are somewhere behind in the valuation. At the moment I´m in AZN (P/E19.5) and some networking stocks and I suspect there are lots of MMs shorting AZN at the moment. One day some buyers will close the door and the stock is on fire. The problem is how to time these actions (up or down). A "good" chart is a necessity. Keep an eye on the dollar if you trade US-stocks with European currencies.
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des44
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Hey Max,
I am a swing trader and look at the daily charts. My stop is a buy order for the anticipated breakout over $53.10. If it POPS, great. If not, (and it dips below $51.55) I will cancel my trap (buy order) and look for another opportunity that's begging to give me money.
d-
I am a swing trader and look at the daily charts. My stop is a buy order for the anticipated breakout over $53.10. If it POPS, great. If not, (and it dips below $51.55) I will cancel my trap (buy order) and look for another opportunity that's begging to give me money.
d-
des44
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We could see the Dow Jones pullback a couple of hundred points this week. Just yesterday I was telling a guy (who I trade for) that we might see some drawback in the markets this week due to them needing to relax since the nice bull run that we had the past couple of months.maxpain said:
My hope is that the Dow Jones only gets as low as 10,400 before it rebounds--this would be ideal. However it could easily slide down to meet up with the 50 and 200mda around 10,250 where is "should" find support. For the bulls sake, I hope it doesn't crack this 10,250 level very far.
d-
However it could easily slide down to meet up with the 50 and 200mda around 10,250 where is "should" find support. For the bulls sake, I hope it doesn't crack this 10,250 level very far.
d-[/QUOTE]
Guess we are heading down there on a bumpy road. Traders like volatility. Easy though to be on the wrong side.
GL
d-[/QUOTE]
Guess we are heading down there on a bumpy road. Traders like volatility. Easy though to be on the wrong side.
GL
You´re too late probably. We haven´t finished this rally. It´s only in the ST charts we find sell signals. Stay tuned in a week or so and pick up some stocks to go long in because after OEX the Fund Managers will buy into Year End. Jan/Feb might be some nice months too because they probably want to sell at high prices and run the show by program buying at low volumes.des44 said:
GL
roguetrader
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maxpain said:
Max, or anyone else for that matter, what exactly is program buying and what is its purpose, have heard it referred to and seen it happen many times, but don't rally understand it.
Thanx
roguetrader said:
Here you are - With this they run this show up or down. Programs buy or sell a basket of different stocks depending of the value of the Premium if I understand this correct . I believe that buying or selling of the different index-futures triggers the Premium or it is triggers from the index-shares (SPY, QQQQ, DIA)
http://ts-lc.sc8.finance.lycos.com/...aram2=26&Param3=9&FontSize=10&LocaleID=0x0409
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