EWZuber
1,373 posts
msg #29528
- Ignore EWZuber |
10/28/2003 4:30:36 PM
SPIL has broken out to a new 52 Week high today.
Looks like NVDA will close above the 50 DMA and has made it there while the moving average is still flat and able to act as good support. From here the stock can launch to higher levels.
I have suspected from the beginning that this is where NVDA was headed as it was just too tempting of a support level and stochastics supported the move. If NVDA had passed up this opportunity it would have made the job of moving higher much more tedious and time consuming.
I would not be surprised to see NVDA drop just a tad & test the 50 DMA as support and offer another possible entry level.
A position might once again be possibly added to here.
Averaging up is an excellent way to maximize gains from a previously well chosen entry as long as each addition to the position is chosen with the same care and supporting indicators.
This demonstration is intended to show the benefits of precision entries and exit points and how trendlines, moving averages and stochastics are all that is needed to successfully see opportunities and take advantage of them before they are apparent to the masses. JMHO
Once again these writings are strictly for the purpose of discussion and education and not intended as suggestions for any individual or otherwise to actually trade the stocks mentioned.
Best of fortune
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jthehut
124 posts
msg #29529
- Ignore jthehut |
10/28/2003 5:40:10 PM
Old Man !!! Wake up to that Alaskan sun-rise !!!
Just kidding, glad things look up and up (and up and up, I hope)!!!
Enjoy the ice-fishing soon,
---the-hut
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EWZuber
1,373 posts
msg #29532
- Ignore EWZuber |
10/28/2003 8:28:25 PM
Lol! There ain't no sun this time of year at 5:00AM. Getting close to those 18 & 1/2 hour nights.
It's been unseasonably warm here. Was a hot and glorious Summer and a very warm Fall. It was 50 degrees yesterday! It's more usual to see -15 deg. this time of year. They are saying that the Arctic is warming at unprecedented speed the past 10 years and it has been easily verifiable by anyone that has been here for 20 years or more.
Thought I'd mention that TRAD closed the sesion today above a 3 & 1/2 month resistance trendline. I wouldn't be surprised to see it close in on the 50 DMA tomorrow. It needs to find support somewhere higher and is in much the same technical boat as NVDA was yesterday.
TRAD's 50 DMA is in a very slight downtrend but it should still suffice as support for a while. There is also an area at the last cycle high that could serve as support.
I wouldn't want anyone to consuider this one a swing trade but only a possible day trade candidate for those that are successful, seasoned day traders.
This company runs a trading platform where the individual designs and backtests their own trading system. When you achieve the desired results the system can be put into automation.
I understand that the company is being sued by clients, I suspect for some kind of performance liability, problem is that the company is not insured against law suits.
I would not advocate holding this one but it may be a good day trade. JMHO
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EWZuber
1,373 posts
msg #29557
- Ignore EWZuber |
10/29/2003 5:48:29 PM
NVDA did test the 50 DMA as support today as expected and it held. Actually it looks more like a test of the 15 HR.MA on hourly charts. Trendline resistance from 6/6 held it back as the stock bounced down just a bit off of it closing flat with yesterdays close.
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TheRumpledOne
6,529 posts
msg #29561
- Ignore TheRumpledOne |
10/29/2003 10:43:47 PM
EWZuber:
"Once again these writings are strictly for the purpose of discussion and education and not intended as suggestions for any individual or otherwise to actually trade the stocks mentioned."
Oh come on... tell us when to load the boat with a stock. The thing is you have to TRADE the stock not just buy it. One must SELL the stock. As in, TAKE PROFIT or CUT LOSS. That part seems to be lost on some traders.
MAY ALL YOUR FILLS BE COMPLETE.
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EWZuber
1,373 posts
msg #29564
- Ignore EWZuber |
10/29/2003 11:46:29 PM
As far as NVDA is concerned I would still be holding the stock. So I would be holding until a candlestick closes below trendline support on the hourly chart. So far that hasn't happened with NVDA.
Everyone has a different time line that they deal with. I have had to get accustomed to holding for longer periods with a position that is working because I have little capitol to work with and only get 3 daytrades over 5 days. After that I can't trade at all.
If you like I will post some NVDA trades based on the 5 minute or 1 minute chart as a demonstration so long as it doesn't interfere with my own trading.
Exit signals I use are usually exactly the opposite of entries.
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EWZuber
1,373 posts
msg #29572
- Ignore EWZuber |
10/30/2003 1:43:26 PM
TRAD broke out today.
Also bought some VOCL just above the 200 DMA @ $2.54. ( from a stochastic oversold screen )
Stop just below the 200 DMA @ $2.50 or a break of short trendline support on the 5 min. chart.
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EWZuber
1,373 posts
msg #29573
- Ignore EWZuber |
10/30/2003 2:04:48 PM
Sold TRAD @ $9.03 on break of trendline support.
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EWZuber
1,373 posts
msg #29575
- Ignore EWZuber |
10/30/2003 2:34:53 PM
NVDA broke trendline support on the hourly chart but the stock is very oversold in this time frame and the hours candlestick is not complete. So will hold off to see if it climbs above old support or bounces down confirming it as resistamce @ $18.28.
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EWZuber
1,373 posts
msg #29576
- Ignore EWZuber |
10/30/2003 3:39:53 PM
NVDA bounced down from the TL confirming it as resistance and was a sell at $18.18 as it broke trendline support on the 5 minute chart after making an attempt to break short term trendline resistance at 2:25 ~ 2:30.
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