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Technology Stocks : INTEL TRADER
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To: Jurgen Trautmann who wrote (10653)1/5/2002 9:37:08 AM
From: Trading Machine   of 11051
 
JT, I updated the weekly OEX chart and put in the green line you suggested. It is a good line and with your permission I will leave it on the chart.

There are two other lines coming into play here also. The red line which is a short term uptrend line and more importantly the yellow horizontal line at OEX 600. I have a working theory (and its only a theory) that when several lines come into play at the same place the resistance/support is increased substantially. However; the Fed pump could overpower it, Monday will tell.

The 600 line has been very strong in the past and was the principal reason I went out of the trade yesterday. If I had to guess, I would guess Monday will be a doji day or down. Now I need for the 60 minute indicators to get reset for another entry point.

This trade exposed me for two days and neted me 1.2%. I will continue this trading pattern until we are "out of the woods"! ggg

Hope all this helps and good luck

Paul K.

Edit: the web site URL angelfire.com
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