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"The Sunny Side of the Street"
TUESDAY NIGHT--11/19/2002:
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Remember: only
900 more people will ever be
allowed to subscribe to the Platinum Zone. The only way to get a spot
after that, will be for someone else to drop out. (That number includes
free and gratis accounts to the media, etc...)
Subscribe now and get the first
three months at a discount...only $99.95/mo. Regularly $139.95/mo.With each swing the QQQs hit one of the Attractors and bounced off, first up then down, then up again.
The weekly chart, above, still shows the Attractor at 26.89 on the QQQs holding down any further upward movement. On the Dow, the relative Attractor is at 8450, and is now acting as Support, holding the Dow up, rather than pushing it down. The S&P is caught right in the middle of its two attractors (926 above and 875 below).
These Technicals, and the double, overlapping cycle I keep talking about make this a very difficult market to trade at the moment. Its gyrations are too fast, turning on a dime, for the average trader to manage. My suggestion would be to stay on the sidelines momentarily. This is hurricane weather.
INVESTORS
The markets are at a critical juncture. Jumping the gun and trying to outsmart the market right now is very risky. Each of the markets I watch is sitting right on the major Attractor, which is at best precarious. We could just as easily go down as up.
My monthly model is in a sell position, my weekly model is in a sell position, the daily model, however, is in buy position. If price comes down and drops through my Dynamic Moving Average (sjh_DMA) then all bets are off and I'll go into sell mode. I'm even skeptical about holding the long position any further, at this time, until the market shows its hand one way or the other, by going up above the Attractor, or down below it--telling us whether to be long or short. If the QQQs can't make it through 26.89, that's bad news.
TRADERS
If you insist on trading, make it fast and for short time duration runs. As one of my private students said to me tonight over the phone, we just want singles and doubles, we're not looking for home runs. Don't forget this: $400/day profit equals $100,000 per year. And, $4,000/day profit is a million dollars a year. Take your time, follow a plan, and don't get emotional.
Weekly Stock Picks for the week beginning 11/18/2002:
| symbol | breakout | stop loss | goal | close if triggered? |
profit/ loss |
| QCOM | 37.15 | 32.55 | 43.30 | ||
| PCAR | 46.26 | 44.69 | 48.00 | ||
| SNPS | 50.00 | 47.35 | 54.00 | ||
| ERTS | 67.00 | 68.50 | 66.30 | ||
| IBM | 81.00 | 79.00 | 83.50 | ||
| SANM | 3.45 | 3.19 | 3.75 | ||
| JDSU | 2.80 | 2.64 | 3.00 | ||
| RNWK | 3.80 | 3.61 | 4.00 | ||
| DISH | 19.45 | 19.00 | 20.28 | ||
| WEN | 28.18 | 27.67 | 28.74 | ||
| TOTAL | |||||
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.
AND... if you are a TradeStation user, you need to
attend "TradeStation Made Easy"
February 7-9, 2003. Sunny knows TradeStation and EasyLanguage
as only another Trader could, and the class is more engaging and jam
packed with useful information than any other class you can find, at any
price. Enroll
Now--she only takes 15 students.
