NAVIGATION:
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"The Sunny Side of the Street" |
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CommentaryWEDNESDAY NIGHT--11/06/2002:
Depending on how you look at it, we either had a nicely positive up day following positive earnings reports, or we had a volatile nearly sideways day that played havoc with the mathematics of systems followers. The following chart illustrates my view of the market, which bumped up against its upper Attractor all day long. True to my word of last night, I stayed short all day, but it was very unproductive (read negative). Tomorrow morning looks pretty dangerous from where I stand. The system will go into a buy signal tomorrow morning if the markets move up even slightly. But, by moving up slightly they will touch the upper Attractors and in all likelihood reflect off to the downside. ...Continued... |
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...Continued... As I'm
sure you already know, I use TradeStation as my main trading software,
primarily because of the ease of use of the programming and testing
language. One of the things the software allows is self-scaling
charts to fit the computer monitor's screen. So, if you look at the
chart on a single day (intraday) basis it takes on a different
characteristic, being that of a wildly gyrating day. Take a look at
this next chart, which is a 1-minute, intraday chart of the QQQs.
The violent swing between 11:15amPT and 11:45amPT would have been a floor traders delight, but we "upstairs" traders got sick to our stomachs. ...Continued... |
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Don't miss it--Sunny only gives a few trading seminars each year. She calls them "Solving the Puzzle" because she puts all the pieces together into one cohesive plan for you to become a better trader. Make it your business! Enroll Now--she only takes 15 students. January 17-19, 2003. | ||||||||||||||||
...Continued... Independent
of which market you are watching, tomorrow is an important day.
Republicans in office + positive earnings reports = hopeful traders.
But, from my Technical Analysis viewpoint, we have RSI pushing up against overbought territory, my Dynamic Moving Average about as flat as I have ever seen it, and Average True Range less than a dollar (on the QQQs). Those things don't add up to a wild up day for tomorrow, but all we need is just a tiny little push over the Attractors and it will become a wildly up day. So, stay nimble! And, happy trading. |
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CHART OVERVIEW: for the real scoop, visit Yahoo Finance Weekend Stock Alerts
We had a mixed bag for the stock picks from last weekend (10/28/02). We won on some, we lost on some. But the net result was that we made an even $3,000 profit! Sunny Side of the Street Weekend Stock Alerts
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Symbol | Breakout | Goal | Stop Loss | Triggered? | |
ACK | 1.78 | 2.39 | 1.50 | yes | |
ATI | 7.49 | 9.89 | 6.69 | -- | |
BBBY | 36.20 | 38.00 | 35.21 | -- | |
BCC | 25.24 | 28 | 24.25 | -- | |
CBE | 33.04 | 37 | 30.29 | -- | |
CNXT | 2 | 3.5 | 1.25 | yes | |
PBY | 12.25 | 13.5 | 11.43 | yes | |
XRX | 7.14 | 8.00 | 6.56 | yes | |
GLW | 2.5 | 10 | 1.5 | yes |
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