I finally made good on one of my decisions to take some time away from the Markets and SI. (I will not prognosticate to much about market direction in this post, but I will say I have held one core swing position since May 26th, a long position in TERN. Based on my technicals for the stock and the NAZ, I sold it yesterday.) The NAZ Comp resistance level of 3982 (5/1 pivot point) needs to hold for the downtrend to retain the lower highs component! Noting the futures are up as I type, I think we saw the NAZ high for this leg up yesterday. I would look for some gaps to get filled.
I have decided to extend my time away at least an additional week maybe two. I do log in and lurk the thread from time to time. Many of the posts have been good solid contributions as always, however guidelines 1 & 7 have been ignored a little more than usual, as of late.
For those of you that have not read the guidelines or have not read them lately, please take the time to review them.
Good trading all, see you next week.
Regards,
LG
------------------
MDD - MARKET DIRECTION DISCUSSION
(Created on Dec 2, 1998 8:06 PM originally as the MDA Thread.)
FOCUS: Discussion of the current or expected trends (intraday, short, medium or long-term) of primary indexes, sector indexes or bellwether stocks/commodities using Technical and or Fundamental analysis.
GOAL: To provide an informative cordial forum where members can come together to discuss the focus of this thread. This is to be accomplished by asking contributors (posters) to put forward their trend expectations/predictions (views) coupled with supportive TA and or FA analysis. The proffered expectations/predictions can then be agreed with or challenged in a cordial and respectful manner. Supported views are required to prevent MDD from becoming just a platform for "grandstanders" and to work at providing consistent substantive input which should allow this forum to be more than just a place to express views, but a learning experience for all that participate and lurk. Those that choose to put forward only unsupported views (gut feels) feed only their own egos and should seek out another forum to express their views.
GUIDELINES: All views are equally welcomed bullish, bearish or neutral. Flagrant or continued violations of the following guidelines can lead to the violator being restricted from posting on this thread. (Anyone in violation will be approached in private (when possible) and politely asked to honor the guidelines prior to any exclusion except for flagrant offenses.)
1) Please keep "gut feels" to a minimum. Always try to provide analysis with your expectations/predictions. Give reasons for your expectations and support your views. Note: I realize general discussion will lead to a certain amount of statements of expectations without support (gut feels), however if the majority of your contributions are primarily unsupported views (gut feels) then you are in violation of the spirit of this guideline.
2) When possible, provide links to charts, commentary and or other supportive information. This will help us all better understand your views and promote a more enlightened discussion. Note: When referencing charts without a link, please describe the chart as much as possible so others may plot and view.
3) When using private indicators, please make that known. Of course, no need to reveal your secrets! However, private indicators are not a license to repeatedly post "gut feels" without supportive commentary, charts/graphs or other supportive information.
4) Stock, options and futures discussions are welcome, but remember the focus of this thread is market direction.
5) Please no spaming, marketing, grandstanding, bragging or attacking.
6) If you post someone else's commentary and or charts/graphs, you should make that clear in your post by including a link to the original when possible. If links are not possible, you should make it clear what portion of the post is not yours and give credit to the author/creator.
7) All off topic post should be proceeded by **OT**. Please keep off topic discussions to a minimum.
8) All discussion should be conducted in a cordial and respectful manner.
9) Please add a <g> or :) to any attempts at humor so there will be no misunderstandings.
NOTE: The above guidelines are an effort to keep the discussion on this thread worthwhile and cordial. There are plenty of other threads where exclaiming one's views without supportive commentary or information of any kind seems to be acceptable. If you find adherence to the guidelines of this thread unacceptable, please seek out another forum to express yourself. Don't try to change this one.
Helpful Web Sites:
- The Traders Glossary - (If you don't know what they're talking about, here's a good place to start.)
traders.com
- Technical Analysis A to Z - (This web site should get you started on the basics of most TA methods and techniques.)
equis.com
- Chart Pattern Recognition - (This web site sticks to the basics, always a good success idea.)
chartpatterns.com
- StockCharts.Com - (Chip a previous regular on MDD put together a great site. Check out the java charts...you can draw trend lines!)
stockcharts.com
- DailyStocks.Com Gigablast Reesearch - (A one stop place for all those fundamental needs.)
dailystocks.com
- Globex - (Here's the place to get those futures updates.)
cme.com
- MDD - Market Direction Discussion - Help Page - (Last but not least, check out the thread created by "Jon K" to supplement the MDD thread.)
Subject 25738
Disclaimer: Please do not make any investment decision based solely on the views or analysis expressed on this thread. The analysis or expectations expressed on this thread are the opinions of the authors only. Never blindly follow any buy, sell or hold recommendation. While information, analysis and or views expressed on this thread may be beneficial, it is ultimately your responsibility to do your own research and formulate your own investment decision. |
