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"The Sunny Side of the Street"

WEDNESDAY NIGHT--12/18/2002:

qqq_15_20021218.jpg (182686 bytes)
Figure 1 - Intraday QQQ

I'm going to make it very brief tonight.  My model came into the day in a short position.  I issued an alert that I was taking a quick profit when the QQQs reached 25, which I did.  Then I sent an alert saying I would stay flat until the market said something else.

symbol  close upper Attractor lower Attractor
INDU 8447.3 9075 8450
QQQ 25.33 33.23 20.60
SPh03 892.20 963 875
    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 didn't break any important lines before the close, so I finished the day flat.

The opportunity for a quick, though small, profit in the market is about all we are getting any more.  We continue to experience quick jerky movements intraday, but nothing that's really tradable.  So, I have become a scalper in the current market, taking quick trades for $300-$400 profits and not being able to catch any of the good old-fashioned $2000 runs.

So, we do what the market will allow.

RSI on the intraday chart is midrange, giving us no clues about tomorrow's movement.  Today was essentially a flatline hitting but not exceeding the 8395 mark on the Dow.  It should take an upward bounce off that line tomorrow, but I hesitate to make any predictions.  The next overhead for the Dow is at 8516, and it seems like that may be the next level of attraction.

As always, be cautious, be nimble, and good luck!

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.

 

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Weekly Stock Picks for the week beginning 12/15/2002:

(Last week's picks made a profit of $0.  Click Here to view the picks for last week, in the Archives.)

12/17/2002 -- We are getting really close to some of the breakout lines, so keep watching.  NSOL did break the line today, so the model is now long NSOL.  

Symbol Breakout Stop Loss Goal  Close if Triggered Profit/Loss
NSOL 0.78 0.62 1 yes
AMCC 4.11 3.63 5.28
ADCT 2.24 1.64 2.81
ADBE 27.18 24.73 32
WIN 15.3 14.02 18
WPI 30.12 28.15 33.5
STI 60.25 56.63 68
SLE 22.77 21.56 24
RBK 28.38 27.04 30
FO 50 47.36 54
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.

CHART OVERVIEW:  for the real scoop, visit Yahoo Finance


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