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"The Sunny Side of the Street"
SUNDAY NIGHT--January 5, 2003
Remember: only
700 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.TRADERS:
The QQQ short-term model is still long, but as I told you in Alerts last week I took profits and am sitting on the sidelines waiting for the market to push through resistance. If the QQQs get above 25.70 with strength in the RSI I will probably go long again to get back in synch with the model. Because the QQQs were weak, and because it was a holiday week, I decided last trading session to take profits on a weak showing of the RSI.
The SPX also showed holiday weakness, hitting 881.08 4 times during the week without moving on up through the resistance. So far the formation is a W bottom, but it could become a head-and-shoulders eventually. The 15-minute model on the SPX is long, but the most obvious place to take profits would have been 881.08. So, for this one I'm in wait and see mode.
The 15-minute DIA still has a little room at the top, to move on up to the resistance at 86.45. I see a complex Head-and-Shoulders in place on the 15-minute chart, so the DIA might not move up as high as that resistance for the moment.
INVESTORS:
The monthly and the weekly Dow charts show short on the model, with the daily model just now peeking above the 50-day moving average. The 52-week high is at 10,500, about 2000 points above where we now stand. In spite of the past week's weak showing, the Dow's daily chart is in buy mode, which I intend to ignore until price passes 8945 on the upside. If the Dow passes 8945, especially if it is on above average volume, that would convince me that the Dow could keep going on up to the 200-day moving average. When it passes the 200-day moving average, investors usually get excited and the market rallies for a while before retesting the average. That scenario makes a lot of sense to me.
On the other side of the coin we have an inverted Head-and-Shoulders that never quite made it all the way into formation. So, I've discounted that scenario in my mind, which would have called for much lower prices.
So, as always, stay nimble, humble and take small losses and big wins.
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! View
the syllabus--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 1/5/2003:
| Symbol | Breakout | Stop Loss | Goal | Close if Triggered | Profit/Loss |
| UNM | mkt | 17.49 | 19.11 | ||
| WPI | 29.5 | 27.44 | 33 | ||
| AHLS | 0.83 | 0.50 | 1.4 | ||
| ASDS | 0.46 | 0.37 | 0.6 | ||
| CNXT | 1.85 | 1.5 | 2.5 | ||
| JDSU | 2.95 | 2.38 | 3.5 | ||
| LGTO | 5.52 | 4.33 | 7.63 | ||
| MCHP | 26 | 24 | 30 | ||
| PCAR | 48.3 | 46.3 | 51.6 | ||
| RNWK | 4.06 | 3.5 | 5 | ||
| 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.
