TheRumpledOne
6,529 posts
msg #29501
- Ignore TheRumpledOne |
10/27/2003 8:48:03 AM
EWZuber:
We will have to get together and jam.. I play bass!
Looking to pay from another Miata this week... A 1993 LE... black/tan leather, immaculate, only 54k miles.... can't buy toys by papertrading.
Come on SONS and SIRI (and a few others...lol)
MAY ALL YOUR FILLS BE COMPLETE.
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EWZuber
1,373 posts
msg #29502
- Ignore EWZuber |
10/27/2003 10:00:12 AM
Thats cool. What kind of music are you into?
Hey, did you see TRAD this morning?
NVDA up this morning too. A position at trendline support would have been a good entry.
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EWZuber
1,373 posts
msg #29513
- Ignore EWZuber |
10/28/2003 2:33:44 AM
NVDA continued the month long uptrend today. Action was not as good as hoped but at least it was in the right direction.
The nice thing about a position taken at trendline support at about $16.84 on Friday is that with the trendline in an uptrend even if the trendline should be violated now in the normal course of the trading day, the position could be closed with no losses because the trendline has risen above the entry point to about $16.94 ( about +10C per session ).
The volume during the hour that NVDA tested trendline support was the highest volume in any hour over the past 3 sessions. This supports the validity of a position there. One could have added to the position as the short term trendline resistance I spoke of on Friday was broken at 3:26 at about $16.93.
Hourly chart stochastics only at 61 so technically there is plenty of room for gains.
A stop loss could be staggered just as the entry could have been.
One half the position at $17.16 ( at acting support at Fridays intraday high ) on any candlestick closing the hour substantially below this level, the other half at trendline support.
If trendline support is about to be tested while the stock is overbought on hourly charts one could exit the position earlier since this is a substantial indication of weakness and also implies that the stock will likely not become oversold until it is considerably below trendline support. Its a judgement call.
Re-entry into the stock when the same technical criteria presents itself. ( broken trendline resistence with stochastic confirmation and / or a test of trendline support with stochastic confirmation )( Notice that the bounceup off trendline support was accompanied by a stochastic fast line +xover while oversold on hourly chart )
This approach helps prevent losses and allows for the trader to still collect from any gains should it move higher. JMHO
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EWZuber
1,373 posts
msg #29514
- Ignore EWZuber |
10/28/2003 3:26:42 AM
Looks like EAG may be breaking a short term resistance trendline tomorrow. Might be good for a quick couple percent. It has successfully tested 54C as support several times. Serious resistance at 62C. A break above this level and a successful test as support would be very bullish.
Don't see earnings report coming up but looking at the chart and noting past release days it should be soon. JMHO
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petrolpeter
439 posts
msg #29515
- Ignore petrolpeter |
10/28/2003 4:26:51 AM
Carefull sailing Zube,driving home from work I just heard on the BBC that Sony(SNE) is laying off 20,000.Interesting to see what it does,fall like MSFT or rise in expectations of better productivity and what,if any effect the news will have on market tomorrow.
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MODERATOR
28 posts
msg #29519
- Ignore MODERATOR |
10/28/2003 9:30:44 AM
This message has been removed by StockFetcher.
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EWZuber
1,373 posts
msg #29521
- Ignore EWZuber |
10/28/2003 10:21:37 AM
petrolpeter
Quite a bit of other bullish news last night.
Only stock I'm in at the moment is TRAD and it is doing very well.
The demonstration with NVDA is also doing well. If I had the cash I would have gotten that one also but need to focus on lower priced stocks for a while.
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EWZuber
1,373 posts
msg #29522
- Ignore EWZuber |
10/28/2003 10:48:08 AM
NVDA broke a 5 day resistance trendline today ( best seen on the hourly chart ). This has attracted huge volume into the stock and a rapid ascent on todays 5 minute chart.
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petrolpeter
439 posts
msg #29523
- Ignore petrolpeter |
10/28/2003 12:06:38 PM
Right on Zube,Good news overwelms today with a nice pop.More going on hear in NVDA,I see a tight Bollinger squeeze and a run up to the upper band,just cranking!A three month channel could be drawn 16-21 with 21 an optimal target.
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EWZuber
1,373 posts
msg #29524
- Ignore EWZuber |
10/28/2003 3:30:07 PM
Yes, NVDA is heading higher, IMO. Judging from the various stochastic cycle periodicities and their phase relationships I believe this could be a long term play.
The preemo entry is behind us now though. An entry now will be above trendline support and one would have to deal with the possibility of the stock dropping down to test other support areas formed during the run. With the stock up some 5% or so that is a considerable amount of downside to contend with.
This is why I really like an entry at support, but you have to be already aware of the trendline and the favorable stochastic indicators as the stock descends to test it. Then it's just a matter of waiting.
I much prefer this kind of entry to one where the stock has already made it's move and already announced this to the world.
Stochastics, trendlines and moving averages were all that was needed to see this coming.
EAG moved very nicely today also, up some +20 % last I looked.
I was too tired to stay up this morning though and I didn't set the price alarm so I missed that one.
This 5:00 AM stuff every morning gets old. ( Market opens at 5:30 AM here in Alaska )
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