SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Sharck Soup
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sharck who started this subject5/28/2001 9:29:14 PM
From: besttrader   of 37746
 
Interesting from migz, bull I will wait for SUN'S meeting tue AH.

From: migz (migz g)
To: ALL
Date Posted: May 28, 2001 at 20:30:20
Subject: Market Notes 4/28/01

1) Textbook pullback sequence following breakout. Why complicate?

2) Trend is up. Buy Pullback.

3) No topping formation evident. Volume is buy side and in several cases volume breakout preceding price.

4) Widely followed short-term Daily MA's crossing longer-term MA's to form early Bull-side formation.

5) Remember: NASDAQ price action since April suggesting reaactionary bounce of 2,670 point sell-off since 7/17. So far,
we have just barely cleared .786 Fib. Next stop: 2,600 (.382) in a fast way.

6) Naz been showing high relative strength, the same old face it puts on before a sharp short-cover rally.

7) Gotta keep an eye on that MSFT.

8) Short here is much higher risk than long.

9) DOW set-up on hourlies breakout---> .382 pullback to previous support if you do Fibs from 5/11 low. Rounds-up nicely
too 11K area as well - AND 20DMA. Rejection at 5/21 lines right-up with decending trendline from 4/00 and 9/00 peaks.
Momentum from 9,100 and overall relative strength in the last year suggests violation of that trendline very soon.

10) If we have strength in the earlier part of the week particularly breakout...look for that strength to linger all week long...

11) I am expecting the market to trade in unison this week with no DOW/NASDAQ divergeance.

12) DOWNSIDE: held violation of 1277 SPM and I am looking for a hard trade down to 1254...this is the last straw before
market begins the process of filling the gaps established on 4/18. I am all short-side below 1254 and neutral below
1277...This is a weakness I do not expect, but nevertheless am ready for.

13) I reloaded more on my NASDAQ overnights near the close Friday...as I had expected the 1277 to be hit. It's just hard to
stay long because every pullback is perceived to be the end of the financial markets.

14) RISK Management: I will lighten-up on my risk exposure with held trade below 1277 AREA ...and completely stop-out
with sustained below 1254 AREA. Without respect to the opposite side of the market I am nothing.

15) Die KKD.

16) Go Gold. Same scenario: it's a pullback. Technical ascent was somewhat different from previous attempts at rallies as
this time the price seems to be holding better. Still long Gold.

17) Looking for Big Recovery in Japan this year. Like oversized Jumbo Sushi. Long Japan.

18) NASDAQ 2000-2001 is DOW 1929. Big difference: modern architecture. Great Quake of San Francisco wouldn't have
been as bad today as it was back then. If you wait for 1929, it has already passed by. Twice.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News