EWZuber
1,373 posts
msg #29514
- Ignore EWZuber |
10/28/2003 3:26:42 AM
Looks like EAG may be breaking a short term resistance trendline tomorrow. Might be good for a quick couple percent. It has successfully tested 54C as support several times. Serious resistance at 62C. A break above this level and a successful test as support would be very bullish.
Don't see earnings report coming up but looking at the chart and noting past release days it should be soon. JMHO
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petrolpeter
439 posts
msg #29515
- Ignore petrolpeter |
10/28/2003 4:26:51 AM
Carefull sailing Zube,driving home from work I just heard on the BBC that Sony(SNE) is laying off 20,000.Interesting to see what it does,fall like MSFT or rise in expectations of better productivity and what,if any effect the news will have on market tomorrow.
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MODERATOR
28 posts
msg #29519
- Ignore MODERATOR |
10/28/2003 9:30:44 AM
This message has been removed by StockFetcher.
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EWZuber
1,373 posts
msg #29521
- Ignore EWZuber |
10/28/2003 10:21:37 AM
petrolpeter
Quite a bit of other bullish news last night.
Only stock I'm in at the moment is TRAD and it is doing very well.
The demonstration with NVDA is also doing well. If I had the cash I would have gotten that one also but need to focus on lower priced stocks for a while.
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EWZuber
1,373 posts
msg #29522
- Ignore EWZuber |
10/28/2003 10:48:08 AM
NVDA broke a 5 day resistance trendline today ( best seen on the hourly chart ). This has attracted huge volume into the stock and a rapid ascent on todays 5 minute chart.
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petrolpeter
439 posts
msg #29523
- Ignore petrolpeter |
10/28/2003 12:06:38 PM
Right on Zube,Good news overwelms today with a nice pop.More going on hear in NVDA,I see a tight Bollinger squeeze and a run up to the upper band,just cranking!A three month channel could be drawn 16-21 with 21 an optimal target.
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EWZuber
1,373 posts
msg #29524
- Ignore EWZuber |
10/28/2003 3:30:07 PM
Yes, NVDA is heading higher, IMO. Judging from the various stochastic cycle periodicities and their phase relationships I believe this could be a long term play.
The preemo entry is behind us now though. An entry now will be above trendline support and one would have to deal with the possibility of the stock dropping down to test other support areas formed during the run. With the stock up some 5% or so that is a considerable amount of downside to contend with.
This is why I really like an entry at support, but you have to be already aware of the trendline and the favorable stochastic indicators as the stock descends to test it. Then it's just a matter of waiting.
I much prefer this kind of entry to one where the stock has already made it's move and already announced this to the world.
Stochastics, trendlines and moving averages were all that was needed to see this coming.
EAG moved very nicely today also, up some +20 % last I looked.
I was too tired to stay up this morning though and I didn't set the price alarm so I missed that one.
This 5:00 AM stuff every morning gets old. ( Market opens at 5:30 AM here in Alaska )
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EWZuber
1,373 posts
msg #29528
- Ignore EWZuber |
10/28/2003 4:30:36 PM
SPIL has broken out to a new 52 Week high today.
Looks like NVDA will close above the 50 DMA and has made it there while the moving average is still flat and able to act as good support. From here the stock can launch to higher levels.
I have suspected from the beginning that this is where NVDA was headed as it was just too tempting of a support level and stochastics supported the move. If NVDA had passed up this opportunity it would have made the job of moving higher much more tedious and time consuming.
I would not be surprised to see NVDA drop just a tad & test the 50 DMA as support and offer another possible entry level.
A position might once again be possibly added to here.
Averaging up is an excellent way to maximize gains from a previously well chosen entry as long as each addition to the position is chosen with the same care and supporting indicators.
This demonstration is intended to show the benefits of precision entries and exit points and how trendlines, moving averages and stochastics are all that is needed to successfully see opportunities and take advantage of them before they are apparent to the masses. JMHO
Once again these writings are strictly for the purpose of discussion and education and not intended as suggestions for any individual or otherwise to actually trade the stocks mentioned.
Best of fortune
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jthehut
124 posts
msg #29529
- Ignore jthehut |
10/28/2003 5:40:10 PM
Old Man !!! Wake up to that Alaskan sun-rise !!!
Just kidding, glad things look up and up (and up and up, I hope)!!!
Enjoy the ice-fishing soon,
---the-hut
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EWZuber
1,373 posts
msg #29532
- Ignore EWZuber |
10/28/2003 8:28:25 PM
Lol! There ain't no sun this time of year at 5:00AM. Getting close to those 18 & 1/2 hour nights.
It's been unseasonably warm here. Was a hot and glorious Summer and a very warm Fall. It was 50 degrees yesterday! It's more usual to see -15 deg. this time of year. They are saying that the Arctic is warming at unprecedented speed the past 10 years and it has been easily verifiable by anyone that has been here for 20 years or more.
Thought I'd mention that TRAD closed the sesion today above a 3 & 1/2 month resistance trendline. I wouldn't be surprised to see it close in on the 50 DMA tomorrow. It needs to find support somewhere higher and is in much the same technical boat as NVDA was yesterday.
TRAD's 50 DMA is in a very slight downtrend but it should still suffice as support for a while. There is also an area at the last cycle high that could serve as support.
I wouldn't want anyone to consuider this one a swing trade but only a possible day trade candidate for those that are successful, seasoned day traders.
This company runs a trading platform where the individual designs and backtests their own trading system. When you achieve the desired results the system can be put into automation.
I understand that the company is being sued by clients, I suspect for some kind of performance liability, problem is that the company is not insured against law suits.
I would not advocate holding this one but it may be a good day trade. JMHO
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