EWZuber
1,373 posts
msg #58234
- Ignore EWZuber |
12/17/2007 4:38:04 PM
johnpaulca, PSEM is sitting dead on its 25 DMA. Thats why I was watching it today. The trade was taken using the 5 minute chart. There was a slight dip that bottomed at the 15:10 ~ 15:15 candlestick.
It broke the ST TLR (trend line resistance) within that small pattern and came in with a little bit of volume and brought it back above the days TLS.(trend line support).
The final 5 min candlestick sold it off below that level though as the COMP lost all support.
That put PSEM Hourly Chart back in a distribution phase by breaking HC(Hourly Chartt) pattern support. So the trade has already failed.
I was looking for a close in the COMP at or above 2585 to confirm the bottom of the gap as support, but that didn't happen in the final few minutes and PSEM went down with the market.
I would have closed the trade but there is a slight chance for a gap up in the morning but more importantly I didn't want to use up a day trade.
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nikoschopen
2,824 posts
msg #58236
- Ignore nikoschopen |
12/17/2007 5:05:07 PM
Nikko....I think GOOG just fell of the cliff...I left way too much money on the table, I walked away with $6.5/share. That silly indicator of mine does work...patent pending...LOL
Indeed. But it closed right at SMA(50), so there's a real risk that this damn thing can shoot up in the coming days. I suggest that you take caution at this point in time.
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ham1198
174 posts
msg #58238
- Ignore ham1198 |
12/17/2007 6:45:24 PM
...johnpaulca, what's this BOOYA filter you mention? mind posting? tia
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johnpaulca
12,036 posts
msg #58243
- Ignore johnpaulca |
12/17/2007 11:37:27 PM
Nikko...I already sold GOOG with a decent profit. I will see how it opens in the morning. Below 50ma and I will sell hard...I still believe it has more downside, will see tomorrow...stay with the trend my friend...peace
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johnpaulca
12,036 posts
msg #58244
- Ignore johnpaulca |
12/17/2007 11:44:15 PM
Ham198...BOOYA filter is just a silly BBand with weird parameters as seen in the charts I regularly post, with one exception, I know how to trade the silly thing. Take a look at TGA I posted today and see if you can find the setup.
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icanputt
27 posts
msg #58250
- Ignore icanputt |
12/18/2007 10:19:24 AM
Long SRE @61.13 45cent stop target 62
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TheRumpledOne
6,529 posts
msg #58251
- Ignore TheRumpledOne
modified |
12/18/2007 10:20:43 AM
johnpaulca
Tro...wish I knew that on Friday when I bought, would have loaded up.
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That email came over the weekend.
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johnpaulca
12,036 posts
msg #58255
- Ignore johnpaulca |
12/18/2007 10:53:50 AM
ZUB...what's your exit strategy for PSEM
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johnpaulca
12,036 posts
msg #58256
- Ignore johnpaulca |
12/18/2007 10:58:29 AM
Nikko...selling GOOG hard, deserves a good milking, just like old Betsy on my dad's ranch.
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johnpaulca
12,036 posts
msg #58257
- Ignore johnpaulca |
12/18/2007 11:18:33 AM
MOH...long@38.98 (BOOYA filter)
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out@39.80....I'll take it....BOOYA works again, gotta test it in a down market.
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