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"The Sunny Side of the Street"
THURSDAY NIGHT--12/12/2002:
Remember: only
800 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.The QQQs moved a whole 0.07 point from yesterday's close. Whoopee! We are locked in at the Attractor that is sitting at 25.40. On the Dow we had yet another day that was inside the range of the bar I have been watching from 4 days ago. If that's not congestion, I don't know what is.
Again today I sat on the sidelines, waiting to see whether the QQQs would break either boundary that I set last night. The same boundaries still apply. I'm still going to sit on the sidelines until we have some sort of breakout. This choppy stuff isn't worth playing with. On the QQQs I would want to see a breakout below 25.40 to go short, or above 26.20 to go long. On the Dow we would have to break above 8621 or below 8516. On the SPX we would need to break above 912.80 or below 897.65. If any of those things happens, I might believe we are about to make a considered move. Until that time, we're just channel trading, and in a narrow channel at that.
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RSI continues to drift along meaninglessly right in the middle of the road, neither bullish nor bearish. On the 15-minute chart of the QQQs you can see the narrow channel that we are staying within. (Figure 2) Price touches the top Sunny_Band, and then goes back and touches the bottom band, then it turns around and touches the top band again, and the march goes on. As soon as this tedium gets too boring and enough people lose interest, the market will make a big move. Up or down? At this juncture it looks like down first followed by a bounce off the lower Attractor, but all the evidence is not yet in.
Figure 2
Tomorrow I'm going to continue writing on my "TradeStation Made Easy" book and ignore the markets unless price breaks the upper or the lower boundary. I have alarms set so that bells go off when the lines are touched, so I don't even have to look at the screen. And in the meantime I will continue looking for some other instrument that is moving -- by that I mean has a high PHW.
I'LL MAKE YOU ANOTHER OFFER. Send a friend my way for one of the upcoming seminars, and I'll give you $250 cash. Take your loved on to a nice dinner out on me.
I think what is most likely next is still for the markets to correct
down to the lower bands, and then take another surprise bounce upward, so
be quick, be nimble, and always keep your respect for the markets--it's
a risky business. And remember, we don't have to trade just because
the market is open. Sometimes there are no trades worth
taking. It's better to sit on the sidelines that to be giving money
to the market!
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..to match Larry Williams' offer, on Friday we will be trading real-time,
with real money. I will split the winnings with the
class, and if there are losses I'll keep them for myself. Just
think...the seminar could be free!
Weekly Stock Picks for the week beginning 12/08/2002:
(Last week's picks made a profit of $0. Click Here to view the picks for last week, in the Archives.)
| Symbol | Breakout | Stop Loss | Goal | Close if Triggered | Profit/Loss |
| AEP | 30 | 26 | 35 | ||
| APC | 50 | 44.5 | 57 | ||
| BK | 30 | 27.1 | 35.26 | ||
| GM | 40 | 47 | 37 | ||
| NKE | 48 | 45 | 52 | ||
| MDT | 47.29 | 43.62 | 51.65 | ||
| TOTAL |
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. And, the same real-time
trading offer applies.
