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Stockwatch:
OXY: long breakout 80.37. Short break...
at 2005-12-12 18:19:39
Stockwatch:
OXY: long breakout 80.37. Short breakout 76.75.
NVDA: Short. Stop at 37. Don't buy if filling gap.
QCOM: Breakout point 46.51.
FFIV (Short): broke downtrend and could fill gap. Stop around 54.
BIDU (Long): Watch for breakout at 84.
NTRI (Long): In solid uptrend at high end of bollinger band. Look for pullback into middle of bollinger band, unless their are signs of trend reversal. RSI consistently overbought. Hot diet stock.
CHK (Long or Short): Long if breaks downtrend line in 29-30 range. Otherwise still in downtrend for short play with tight stop.
TGIF! YHOO and SMCS
at 2005-12-12 18:19:39
Today was a tough day. I had six good looking candidates for trades, but since I trade during my real "day job", I only allow myself three positions at a time. I went long on YHOO at 41.15 as it seems to be resuming it's uptrend after a healthy pullback. It closed at 41.21. A couple of concerns. First, the gains of the past few days have been on lower volume. And more important, it hits resistance in the 42-43 range. I wouldn't be surprised if there is another pullback, and while I usually avoid doing this, I will average down and buy more if it drops to 38-39. So why am I "in" with so many concerns? Well, because these concerns are temporary, and I fully expect the usual tech rally this month, and YHOO will be a leader of the rally.
I also took a long position in SMCS. It broke out on high volume yesterday to reach a 52 week high, and continued today. I was in at 42.15 and it closed at 4
Monday Stockwatch (and Tuesday) at 2005-12-12 18:19:39
Chart
: QCOM, YHOO, SIGM, BBY, CHS, EBAY, MIK, AMLN, ACO
Chart
: SNDK, EWJ, OXY, NTRI, MCD, WFR, OVTI
Added for Tuesday:
Chart: NOVN, AMD, TSCM, ABLE, CMED, BOOM, CTHR, RDC, AIT, IRF
Chart: ADBE,AZPN,NOVL,WFT,GSX,LMNX,CNXT,MIND
Thursday Stockwatch at 2005-12-12 18:19:38
Chart
: QCOM,YHOO,SIGM,BBY, SGP,CHS,EBAY, MIK, AMLN
Chart: SNDK,EWJ,JNJ,NTRI,MCD,WFR,OVTI,NEM,AAPL,PIXR
Chart: NOVN,AMD,TSCM,ABLE,CMED,BOOM,CTHR,RDC, AIT, IRF
Chart: ADBE,AZPN,NOVL,WFT,GSX,LMNX,CNXT,MIND,PACR,MUSE
Chart: FLE,BRCM,MSFT,VZ,REDF,VPRT,BBW,TXN,pwav,CHK
Better Off Read at 2005-11-12 23:55:02
Educational use only. Never intended as advice.
Have a method. Stick to it with nauseating consistency as long as it works. And hardest of all, be patient.
SP500 - strong price action with good end-of-week 'holding pattern'...very close to forming a Dave Landry 'Bow Tie' pattern, from which pullbacks may provide good entry (for pullback traders).
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