Monthly Archives: February 2008
Candidates for 02/29/2008
Here is the list of my candidates for today. I will not trade all of those but will start watching them for short-term reversals.
Date | Sym | L/S | Close | MA(200) | Vol MA(100) | Reason |
20080228 | ACOR | 20.83 | 20.01 | 427068 | 1 |
1. 5 Consecutive down days.
2. Volume is 30% over the 10-day moving average.
3. Volume is 70% over the 30-day moving average.
4. Volume is 50% over the 50-day moving average.
Happy Trading!
Pre-market 2/29/08
A down day on major indicators of the market today breaking a two day rally. I am taking down my long-term for now. I am sticking to short-term which is from the 60-minutes chart and the intermediate which I get from the daily chart. Please take not these notation are subject to my own interpretation.
The current rally was interrupted by a drop and with the futures down and the news overall negative I think the down movement will extend in tomorrow’s (2/29) trading session.
Intermediate | Short-term | ||
NASDAQ | Sideways | Down | |
Dow | Sideways | Down | |
S&P | Sideways | Down | |
The NASDAQ is clearly still sideways in a wedge. We will need more then the short rally. | The 60 minute chart of the NASDAQ Composite shows how choppy short term movements can get in these markets. | ||
I did have to adjust the DOW chart. I left the old wedge line for now but I am looking at rising triangle forming at the moment. This is positive, the symetrical triangle was continuation OR reversal, the rising triangle is more bullish. | The 60-minutes charts again shows how choppy markets get. | ||
Like with the NASDAQ, the S&P is in the symmetrical triangle (wedge) still. | All three 60-minutes charts pretty much follow each other. I clearly see this down move extending into tomorrow (2/29). |
Happy Trading!
links for 2008-02-28
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Adrienne Toghraie is a trader’s coach. I have not read any of her material but I signed up for her newsletter and will be looking to get my hands on some of her books soon.
Candidates for 02/28/2008
Here is the list of my candidates for today. I will not trade all of those but will start watching them for short-term reversals.
Date | Sym | L/S | Close | MA(200) | Vol MA(100) | Reason |
20080227 | ACOR | 21.96 | 20.02 | 423722 | 1 | |
20080227 | JASO | 15.9 | 15.23 | 9097904 | 1 | |
20080227 | MA | 191.19 | 169.23 | 3897692 | 1 |
1. 5 Consecutive down days.
2. Volume is 30% over the 10-day moving average.
3. Volume is 70% over the 30-day moving average.
4. Volume is 50% over the 50-day moving average.
Happy Trading!
links for 2008-02-27
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Excellent post by Trader Eyal. I love these posts about tools. Bloggers tend to post about that only once but really, updated posts are interesting too because things change so fast. In six months, a lot of your tools could be different.
Candidates for 02/27/2008
Here is the list of my candidates for today. I will not trade all of those but will start watching them for short-term reversals.
Date | Sym | L/S | Close | MA(200) | Vol MA(100) | Reason |
1. 5 Consecutive down days.
2. Volume is 30% over the 10-day moving average.
3. Volume is 70% over the 30-day moving average.
4. Volume is 50% over the 50-day moving average.
Happy Trading!
links for 2008-02-26
Candidates for 02/26/2008
Here is the list of my candidates for today. I will not trade all of those but will start watching them for short-term reversals.
Date | Sym | L/S | Close | MA(200) | Vol MA(100) | Reason |
1. 5 Consecutive down days.
2. Volume is 30% over the 10-day moving average.
3. Volume is 70% over the 30-day moving average.
4. Volume is 50% over the 50-day moving average.
Happy Trading!
Pre-market 2/26/08
The end of day Friday rally continued most of the day today on the positive Ambac news. The middle of the trading session showed a little profit taking but overall, indicators closed up 1-2%.
I am keeping my intermediate status sideways at the moment but the Dow and the S&P seems to have poke through the upper boundary of the triangle. So I will be looking for confirmation on that on the upcoming trading sessions.
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Long-term |
Intermediate |
Short-term |
NASDAQ |
Down |
Sideways |
Up |
Dow |
Down |
Sideways |
Up |
S&P |
Down |
Sideways |
Up |
The NASDAQ daily chart has not yet broken the wedge. But I don’t think this sideways action can be sustained much longer. |
The 15 minute chart shows the profit taking mid-day but overall a positive close. We are back up to last Wednesday’s levels. |
The Dow seem to be breaking the upper boundary of my wedge. It is one indication but it needs a lot more confirmation. We are still in a sideways market, volumes not quite enough to break this at the moment. |
A very similar 15 minutes chart. Profit taking mid-day but an overall positive day. |
The S&P seem to also be breaking that wedge so I will look for confirmation here also. The congestion could come to an end soon. Most vacations and other “anchors” are over so I will be looking for volume to increase as people see positive action and want to participate.
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Another similar 15 minutes chart. Very strong push at the open following Friday’s news. A little profit taking mid-day and positive afternoon trading. I think this should carry into Tuesday with increased volume. |
Happy Trading!