StockFetcher Forums · General Discussion · Just a Heads Up<< 1 ... 4 5 6 7 8 ... 50 >>Post Follow-up
TheRumpledOne
6,358 posts
msg #29470
Ignore TheRumpledOne
10/24/2003 9:56:53 PM

EWZuber:

You ever use www.stockconsultant.com? There's a lot of info packed in their charts.

What's looks promissing for NVDA to me is on the 3 mon/d www.prophet.net chart the 13 and 26 emas are flattening out and NVDA closed above both the 13 and 26 emas. On the year/w chart, rsi(2) is heading north and once again the emas are flattening out.

With the Nasdaq sitting on the lower LR line on the 3 mon/d, I would prepare for a bounce, IMHO. We have had 2 RED weeks in a row on the Nasdaq and we haven't had more than 2 in a row since January 03 and the DOW hasn't had 2 in a row since February.

MAY ALL YOUR FILLS BE COMPLETE.






JoeGrossinger
165 posts
msg #29473
Ignore JoeGrossinger
10/25/2003 2:20:23 AM

The NASDAQ chart will probably go to 1820, or to the bottom of the Bollinger Band. It swings from one band to the other fairly frequently. If it holds there and goes up, there should be no problems. If the market goes below 1800 then we could be in for a rough time.

When the market is red - stay in bed

Sound advice unless you like bucking the odds and swimming upstream.

The DOW Industrials will probably end up at 9350-9400.

Most of the time you don't need any software or indicators to see where the market or a stock is going. Unless there is an oversold indication that is very strong, stay away from charts that point downward. Simple as that.
If you like buying the oversold stocks that is OK too but just keep in mind that the only absolute bottom for any stock is a price of 0.00
Go with your eyeballs and guts and use the indicator for confirmation.
As in the case with LOOK, NVDA, UTSI and many others, avoid them because the price just keeps going down. Why bother with these when there are so many others that are going up or are grossly oversold or that make a nice sine wave?
Look at FLEX or CVC or CSCO for some very interesting plays on stocks that MOVE and make money.




TheRumpledOne
6,358 posts
msg #29479
Ignore TheRumpledOne
10/25/2003 11:34:14 AM

EWZuber:

Did you hear something?

Let me check... I thought I heard a PEEP... I'll just ignore it, couldn't have been anything important.

By the way, EWZuber, did you make a nice profit this week? I know the market is paying for a few goodies for the Miata.

MAY ALL YOUR FILLS BE COMPLETE.


JoeGrossinger
165 posts
msg #29492
Ignore JoeGrossinger
10/26/2003 10:08:38 AM

I think it would be extremely difficult to buy anything after taking a 60% haircut. Dealing in dogs like LOOK, SONS and NVDA is asking for a tough living.
You guys are shorting I guess?



TheRumpledOne
6,358 posts
msg #29493
Ignore TheRumpledOne
10/26/2003 3:11:09 PM

EWZuber:

I think I heard a noise again... nothing important.. I will just ignore it.

I trust you are having a nice weekend and enjoying life.

Looking forward to taking profit this week when the market bounces.




EWZuber
1,373 posts
msg #29498
Ignore EWZuber
10/26/2003 7:37:35 PM

TheRumpledOne, I've looked at many 'stock guru' sites over the years but never saw anything that I felt actually lent credible information to the trade.
I don't want to sound overconfident or smug but with the amount of back testing, forward testing and application in the market I have done with this system I have a lot of confidence in its potential to make a good percentage of profit and cut my losses very early.

Missed my entry back into SPIL this week. The low volume on 10/20 threw me off balance and kept me out.
Looking back several months on the stock I see that this is not unusual action for SPIL. So I'm watching and waiting for a momentary price drop to get a good position. I suspect this one is going places and the price is within my means.

Had a great weekend. Went out last night and saw a few old friends I havn't seen in a long time. I used to play in bands around here before my drums burned up in a house fire. Anyhow, went out to listen to a couple bands that had past band members playing in them and we had a great time. Ran into a guitar player that I used to play with about 10 years ago and havn't seen in several years, so it was a good night renewing old friendships.

Yes, looking forward to a market bounce before too long also. I suspect it will be more of a bounce than anything though. We need some orderly distribution in the market or I'm concerned it will crash.
NASDAQ formed a hammer candlestick Friday on good volume bouncing up off of support at the 50 DMA.
Using hourly charts and drawing a trendline starting from the high on 10/21 at 4:30 @ 1,942 across the highs on 10/23 at 2:30, 3:30 & 4:30 down to the present we see that late Friday the NASDAQ broke this resistance trendline. However this is a steep line and needs to be watched carefully.
What is very encouraging about this is that NASDAQ formed a gap on 10/2 & 10/3 with the bottom of the gap @ 1,842.55 and Friday it bounced up off the bottom of the gap at 1,841.62.
What I'm watching now is that the gap down formed Friday morning was being tested as resistance as the market closed Friday afternoon @ 1,866. JMHO


EWZuber
1,373 posts
msg #29500
Ignore EWZuber
10/26/2003 8:41:24 PM

Don't use EMAs but NVDA has tested the 15 DMA twice recently and has held as support both times. The 15 DMA is in a slight uptrend and will function fine as support for now. Selling volume is dropping.
Congrats on EXTR. I see that bounce was due primarily to a really good response to an earnings report. Plays over earnings give me the creeps cause they are a gamble. Only way I'll play them is with an options hedge against another short or long position.
I picked up a small position in TRAD. Very risky but good action on Friday.
Good luck on Monday.


TheRumpledOne
6,358 posts
msg #29501
Ignore TheRumpledOne
10/27/2003 8:48:03 AM

EWZuber:

We will have to get together and jam.. I play bass!

Looking to pay from another Miata this week... A 1993 LE... black/tan leather, immaculate, only 54k miles.... can't buy toys by papertrading.

Come on SONS and SIRI (and a few others...lol)

MAY ALL YOUR FILLS BE COMPLETE.


EWZuber
1,373 posts
msg #29502
Ignore EWZuber
10/27/2003 10:00:12 AM

Thats cool. What kind of music are you into?
Hey, did you see TRAD this morning?
NVDA up this morning too. A position at trendline support would have been a good entry.


EWZuber
1,373 posts
msg #29513
Ignore EWZuber
10/28/2003 2:33:44 AM

NVDA continued the month long uptrend today. Action was not as good as hoped but at least it was in the right direction.
The nice thing about a position taken at trendline support at about $16.84 on Friday is that with the trendline in an uptrend even if the trendline should be violated now in the normal course of the trading day, the position could be closed with no losses because the trendline has risen above the entry point to about $16.94 ( about +10C per session ).
The volume during the hour that NVDA tested trendline support was the highest volume in any hour over the past 3 sessions. This supports the validity of a position there. One could have added to the position as the short term trendline resistance I spoke of on Friday was broken at 3:26 at about $16.93.

Hourly chart stochastics only at 61 so technically there is plenty of room for gains.
A stop loss could be staggered just as the entry could have been.
One half the position at $17.16 ( at acting support at Fridays intraday high ) on any candlestick closing the hour substantially below this level, the other half at trendline support.
If trendline support is about to be tested while the stock is overbought on hourly charts one could exit the position earlier since this is a substantial indication of weakness and also implies that the stock will likely not become oversold until it is considerably below trendline support. Its a judgement call.

Re-entry into the stock when the same technical criteria presents itself. ( broken trendline resistence with stochastic confirmation and / or a test of trendline support with stochastic confirmation )( Notice that the bounceup off trendline support was accompanied by a stochastic fast line +xover while oversold on hourly chart )
This approach helps prevent losses and allows for the trader to still collect from any gains should it move higher. JMHO


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