Rockhead Posted February 5, 2003 Report Share Posted February 5, 2003 Once again the lesson of taking shorting profits (or at least setting tight stops) at trading range lows and waiting to see what the next day brings would have saved you mucho dollars today or so it seems. Learn to take profits or enter positions at trading range highs and lows and set stops just above or beneath the ranges. You can always re-enter your shorts when the range low breaks or go dong when the range breaks out. It works! Those that did not cover on yesterday at the bottom of trading range have now given up approximatley 6% (3% in each direction) on the QQQs! Ouch! Three prices...entry, target, exit. Get a plan, follow it. Link to comment Share on other sites More sharing options...
PileDriver Posted February 5, 2003 Report Share Posted February 5, 2003 that was a blowoff... looks done for now. Did you observe Maria's reaction on Crapvision? (I'm at work) Link to comment Share on other sites More sharing options...
simple guy Posted February 5, 2003 Report Share Posted February 5, 2003 Anita... Why do my targets lower? Because when I see retraces like today that go higher than the 24.76 and 24.79 recent moves... it somewhat changes my view of the waves I see. SO.... I can assume 25.45 recent QQQ high, to 23.85 low, as possibly a wave 1 down 23.85 to 24.86 as a wave 2 final topping up.... Which then means my minuette 3rd wave starts from 24.86, but since the first wave was much longer and larger (25.45 to 23.85) than I originally thought... the 3rd wave becomes longer and larger also. Wave 1 at $1.60 move down Wave 2 ends at 24.86 or a 61.xx % retrace of 1 (perfect) Wave 3 would have to be 161.8% of $1.60 (wave 1) That puts me at 22.28 I could be wrong.... but probably not ... heh heh... Outside shot that we get a 78.6% retrace or close... puts a target on the Q's at about 25.10.... At the end of the day, my targets are plus or minus 20 cents from that 22.50 level... mostly minus. Just have to be patient for the leg to unfold after this congestion and hysterial ends.... and it will all end badly... Link to comment Share on other sites More sharing options...
SkiddMarket Posted February 5, 2003 Report Share Posted February 5, 2003 Those that did not cover on yesterday at the bottom of trading range have now given up approximatley 6% (3% in each direction) on the QQQs! Ouch! Three prices...entry, target, exit. Get a plan, follow it. I appreciate that. My wounds needed some salt. Link to comment Share on other sites More sharing options...
MrHanky Posted February 5, 2003 Report Share Posted February 5, 2003 OT- Can anyone recommend a downloadable pop-up killer? Seems the wife downloaded a MS "upgrade" which is hammering me with pop-up ads from every conceivable angle. TIA webwasher is good and free...webwasher.com....gets rid of pop ups and banners ads pop up killer is great for just pop-ups Link to comment Share on other sites More sharing options...
TheDeepBlueSea Posted February 5, 2003 Report Share Posted February 5, 2003 OT- Can anyone recommend a downloadable pop-up killer? Seems the wife downloaded a MS "upgrade" which is hammering me with pop-up ads from every conceivable angle. TIA My $0.02 worth on pop-ups. Dump whatever browser you're using and switch to Opera 7.01. Opera 7.01 It's much faster than any other browser, supports multiple window browsing windows, has an amazing database like e-mail, and has BUILT-IN pop-up window suppression. All you have to do is select "Refuse pop-up windows" under "Quick Preferences" and that's the end of the annoying pops. I've been using it since version 6.01 and can't imagine back to the the usual suspects. Link to comment Share on other sites More sharing options...
mjkst27 Posted February 5, 2003 Report Share Posted February 5, 2003 warning: bears pretty smug just an observation I'm still short Link to comment Share on other sites More sharing options...
Rockhead Posted February 5, 2003 Report Share Posted February 5, 2003 Those that did not cover on yesterday at the bottom of trading range have now given up approximatley 6% (3% in each direction) on the QQQs! Ouch! Three prices...entry, target, exit. Get a plan, follow it. I appreciate that. My wounds needed some salt. Hey, not trying to rub salt....just trying to continually tell people they need a plan. I continually harp on this, but few seem to actually employ it. Pain would be minimal if plans are followed! Link to comment Share on other sites More sharing options...
TheDeepBlueSea Posted February 5, 2003 Report Share Posted February 5, 2003 warning: bears pretty smug just an observation I'm still short It's days like that remind that I have no idea how to daytrade. Just "short'em and hold'em". Or in the case of commodities "buy'em and hold'em". Link to comment Share on other sites More sharing options...
PileDriver Posted February 5, 2003 Report Share Posted February 5, 2003 ok sheeple its OK now to buy U.S dollars and U.S stocks 12:57PM Gold extends slide after Powell ends U.N. address ($GOX) by Tomi Kilgore Link to comment Share on other sites More sharing options...
simple guy Posted February 5, 2003 Report Share Posted February 5, 2003 SG Dings Its just the buffoonery before the storm. SG turn window is tomorrow, as in today is very likely a topping action day. I have a 2 week down window coming, which would coincide with a 3rd of a 3rd of a 3rd etc etc.... Should cascade down, with today at 24.86 the very likely high for the month of February on the Q's. The years highs were already seen on Jan 13th Tis best to be short on the 3rd wave, not long... Masta Po say, him who patient capture gold nuggets left by he who moved to greener grass on other side of hill... Link to comment Share on other sites More sharing options...
Guest Posted February 5, 2003 Report Share Posted February 5, 2003 Double Flush, We learned yesterday that the PCR Giant Turd formation has the bears crapping! ?So I guess now the key question is -- does the Giant Squid devour the bulls or the bears? unfortunately the Giant Squid formation is dangerous to the Bears as well as the Bulls. I'll spare you the details as to how this is so due to the graphic nature of the explanation. The Giant Squid says this rally is limited in strength and should be short lived - sort of the opposite of the Giant Turd formation when seen in a falling market indicating the fall is limited. Thanks for the illustration Miss Penny. (all formations are the subject of my imagination and may be revised at any time without notice) Link to comment Share on other sites More sharing options...
DrStool Posted February 5, 2003 Report Share Posted February 5, 2003 Plans can have different time frames. Daytrading isn't for everybody. Some plans call for holding for a big move down. The biggest moves down come when the bottom of a short term range is hacked out by a longer wave. Link to comment Share on other sites More sharing options...
longOnUranus Posted February 5, 2003 Report Share Posted February 5, 2003 GoldenStool - ditto experience for me; the pop-ups took RESIDENCE in my computer (not applets per usual). I've isolated them to "Hotfix files" - look at your Programs Add/Remove in your settings screen. Unfortunately, this did not remove all of the activity, but took care of a lot of it. There is also a recurring pop-up "GET RID OF POP-UPS" I think they're behind this. I sent them an e-mail and threatended suit? No response, no suprise. Link to comment Share on other sites More sharing options...
MrHanky Posted February 5, 2003 Report Share Posted February 5, 2003 no negative ticks as usual....panic buying for over 3 years amazing Link to comment Share on other sites More sharing options...
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