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"The Sunny Side of the Street"
TUESDAY NIGHT--January 21, 2003
...broke it today with force. In my book that is bad news as it leaves open room for the markets to freefall until the next Attractor (support or resistance). The Attractor at 25.15 had held for most of the day, with
Figure 2 - QQQ 15 minute broke resistance
the QQQs bouncing upward off the line until the last few minutes. Then the final blow was dealt just before the markets closed, with the QQQs dropping below 25.15 to reach 25.03.
In last night's commentary I stated that I thought the markets would move upward, but not before hitting 25.00 on the QQQs. Well, here it is, and it needs to hold firmly or it is likely to drop on down to the next Attractor at 20.60.
As of today's drop, my daily QQQ model is short and the intraday model (15-minute) is also short. The model got whipsawed during the middle of today, by the market's sideways volatility, and who knows, may get ripped up again tomorrow.
You might think I'm crazy, still saying I'm expecting the market to move upward. But, even with its current craziness, it looks like a rounding bottom to me. This is the kind of difficult trading we often see at turning points. Of course, it could still be a turning point and turn down, but I keep seeing technical indications that make me believe we are going sideways and then upward.
The boundaries I am watching carefully for tomorrow are 25 and 28.50 on the QQQs; 8630 and 8234 on the INDU; and 881 and 931 on the SPH03.
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 1/13/2003:
| Symbol | Breakout | Stop Loss | Goal | Close if Triggered | Profit/Loss |
| TXN | 17.50 | 16.00 | 20.00 | ||
| ADBE | 28.70 | 27.00 | 30.00 | ||
| AMGN | 50.60 | 48.70 | 53.00 | ||
| APCC | 15.65 | 15.00 | 16.75 | ||
| CNXT | 1.76 | 1.60 | 1.90 | ||
| DISH | 26.45 | 25.00 | 29.50 | ||
| INTC | 17.55 | 16.50 | 19.00 | ||
| INTU | 51.00 | 48.25 | 52.50 | ||
| MCHP | 28.00 | 26.24 | 30.00 | ||
| QCOM | 39.00 | 35.00 | 44.00 | ||
| TOTAL |
ARCHIVE:
Weekly Stock Picks for the week beginning 1/5/2003:
| Symbol | Breakout | Stop Loss | Goal | Close if Triggered | Profit/Loss |
| UNM | mkt=18.25 | 17.49 | 19.11 | 19.02 | $770 |
| WPI | 29.50 | 27.44 | 33 | no | |
| AHLS | 0.83 | 0.50 | 1.4 | no | |
| ASDS | 0.46 | 0.37 | 0.6 | no | |
| CNXT | 1.85 | 1.5 | 2.5 | no | |
| JDSU | 2.95 | 2.38 | 3.5 | 3.40 | $450 |
| LGTO | 5.52 | 4.33 | 7.63 | 5.87 | $350 |
| MCHP | 26 | 24 | 30 | no | |
| PCAR | 48.3 | 46.3 | 51.6 | no | |
| RNWK | 4.06 | 3.5 | 5 | no | |
| TOTAL | $1,570 |
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.
