EWZuber
1,373 posts
msg #59979
- Ignore EWZuber |
2/26/2008 3:58:55 PM
Now that I have been successfully purged out of my position huge buying volume comes in and forms a big Hammer Candlestick.
There is just no way for someone who is restricted to 3 trades in any 5 day period to trade this stock today(LDK). It is way too volatile.
There is no way I would hold that all the way down to $29.67 from my average of $30.29.
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nikoschopen
2,824 posts
msg #59980
- Ignore nikoschopen |
2/26/2008 4:09:46 PM
Zub, to get around the PDT restriction, I would have bought a put or sold a call for the night and then liquidated my positions tomorrow. That way, you could move in and out without causing undue hardship to ure equity portfolio.
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EWZuber
1,373 posts
msg #59994
- Ignore EWZuber |
2/26/2008 11:46:56 PM
Good suggestion. That would be a sklick way to go but this account is not approved for options trading.
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EWZuber
1,373 posts
msg #59998
- Ignore EWZuber |
2/27/2008 12:57:52 AM
Looks like AKNS is going to move higher very soon.
I would want to see a move above the 10 HR.MA with a stochastic +Xover.
ANAD looks about ready to pop. If the market holds up I would look for this one to move within ~3 days.
IMO
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nikoschopen
2,824 posts
msg #60002
- Ignore nikoschopen |
2/27/2008 12:50:51 PM
I think this market is going to stick its head up the ass and ignore any and all bad news until Bernanke & Co. slashes the rate next week.
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EWZuber
1,373 posts
msg #60004
- Ignore EWZuber
modified |
2/27/2008 2:01:38 PM
I think it's worse than that. I'm thinking that this market will be manipulated until the elections. There are huge political implications at risk. The current administration can not claim to have a robust economy ,as they like to, if the market has gone to hell along with the banking industry, the housing market, the USD and the national debt.
A collapse may have to wait until early Winter.
The way I see it, a bear market is when the indexes break LT-TLS and drop below the 50 MO.MA. Below that level support becomes much weaker. The SPX and COMP have already broken 5 YR TLS that extends back to the beginning of this move in early 2003. I suspect the powers at hand are trying to hold the indexes up until the Monthly Chart becomes sufficiently oversold to prevent the possibility of the 50 MO.MA being violated.
The market fundamentalists are totally baffled. The market has not been acting as bearish as the fundamentals would suggest it should. Being a chartist will be a big advantage, IMO.
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EWZuber
1,373 posts
msg #60005
- Ignore EWZuber |
2/27/2008 2:08:38 PM
LDK down another 6% today. Even though I was way early taking that entry I was still able to get out with a minimum amount of damage using the Hourly Chart indicators.
1.1% vs 7%. Thats a huge difference. Particularly when applied over time to hundreds of trades.
Typically I use the 5 minute chart. If I had this time the position would have been exited at a small loss of .005%.
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nikoschopen
2,824 posts
msg #60007
- Ignore nikoschopen |
2/27/2008 2:40:51 PM
Since I'm merely a daytrader, it's out of my league to speculate where the market will be in a post-election environment. But with regards to LDK, the trade should have never been initiated since there was no convincing argument to the otherwise.
My otherwise useless 2-cents, if at all. Cheers!
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johnpaulca
12,036 posts
msg #60009
- Ignore johnpaulca |
2/27/2008 2:50:31 PM
I have to agree with Niko. LDK looked very risky to me thats why I asked with the hope you rethink that position...thank god for stops.
-cheers
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nikoschopen
2,824 posts
msg #60010
- Ignore nikoschopen |
2/27/2008 2:52:35 PM
Quote from EWZuber:
The way I see it, a bear market is when the indexes break LT-TLS and drop below the 50 MO.MA. Below that level support becomes much weaker. The SPX and COMP have already broken 5 YR TLS that extends back to the beginning of this move in early 2003. I suspect the powers at hand are trying to hold the indexes up until the Monthly Chart becomes sufficiently oversold to prevent the possibility of the 50 MO.MA being violated.
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While the indices broke below their respective 5-yr Trendline, it's nearly impossible to break the SMA(50) on a monthly basis. If you pull up a 10-yr monthly chart, you would notice that the market actually reversed when the SMA(50) was penetrated. I would think that argument will hold some water this time around as well. At least, that's the plan I intend to follow.
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