TB:" the ultimate BigBoy "
>>The Story of T...
>The Story of O was better. <gg>
Heheheheh - that's a good one, Berney (^_^) laffin' here.
>Core had to be loving life today...
apparently one of the benefits of F/A is days like this, where the BigBoy stox with consistency gain these little, incremental advantages over other stox; ie., they all go down sometimes but, good F/A stays above the index.
it also helps to have a lot of CORE (stock) positions - I got that idea from Tommy-G; eg., DELL may take a hit but, who cares YTD when you're holding SUNW too? Personally, I have found that 30~40 total stock & bond positions is about the max I can manage - considering that I also follow about the same number of global, domestic and sector indices, too. I have no idea how you follow what, > 60 BigBoys, plus indices? wow!
You'd have to enjoy it (managing a classical portfolio), imho; so very much easier to buy SPY=SPX500 and QQQ=NDX100 on dips, leverage it like DJ when you smell growth.
I wish we had an OEX-100 vehicle! BTW, would you happen to know of an index fund (not FMAGX) that is the OEX-100, like VFINX = SPX-500 ?
>If it looks like we will close above OEX 664 tomorrow, I'll probably commit the Phleet...
>...I think I'm going to use DIA for the first time. There is all sorts of nasty resistance at $106.875, but that is a 4.6% move from the close. Further, it will let me get away from all those company specific issues. Sure seems like a long time to come to this decision.
You'll do fine, whatever you put your mind to - that I know, my friend.
Have you seen my DJX-30 chart lately ?
geocities.com
resistance = ~104.5 = DownTrend Line, major fib, 50d EMA
200d EMA = ~103 = "strange attractor"
near support = ~102.1 +/-0.4 = minor fib = apparent horiz. support (March) = where we are right now.
...we are right in the exact middle of the apparent DownTrend trading range channel, Berney; ie., 50:50 probability of ~300 DOW points in either direction from this position :-/
psychological support = DOW 10,000.
next, computed major fib = DOW 9900 = near target; this is a "1x" accumulation buying op.
far-target = 9500 area; this is a "2x" accumulation buying op.
Note especially the perceived, lower DownTrend channel Line on my chart, Berney. The fact that it is not parallel to the upper line is very bearish, imho.
If we had experienced enough pain to get to 9900 during the last down-wave, I would have traded it long from that position.
Instead, we bounced from psychological support at DOW 10,000; and we're caught right now between the 200d EMA and all that upside resistance, and the emotional DOW 10,000 support; purely technical fib and horizontal supports at ~9900 and ~9500 area.
There's nothing to keep the DOW (where it is now) at ~102, that I know of... I'm not sure if +/-300 points extents would be enough for a Long Straddle, but that's the best position I can think at today's (oops, yesterday's) CLOSE.
The DOW index is the easiest index chart to read, imho.
Always remember that DIA and DOW-30 are not really the same intra-day, TB... the DIA are more like the "futures" with gaps up and down, especially at OPEN, to deal with. So now you're aware of (the influence of) SP99Z and mebbe DJ99Z futures intra-day.
...as you would say, "this should be interesting!" (^_^)
-Steve |
