OT - PERSONAL TECHNICAL ANALYSIS (now tell the truth, does anyone out there secretly plot PTA levels like I do? - heck with dem Bollinger Bands, out with RSI, forget MACD and who even wants to understand Parabolic SAR! For the helluvit, here's a look at my two day old AMAT dark-side play as an example of that unspoken PTA):
$14.86 MAJOR RESISTANCE (Point where I initiated short with 6,000 shares) - a return here and this where I'll begin drinkin' plenty of dat red wine and sake Jan!
$15.12 Minor Resistance (Point where I first pressed short for 6,000 additional shares) - at this level I'll be in da money and thankin' Sarmad for convincin' me not to bail!
$15.16 MOVING AVERAGE (Break-even point on total short play of 25,000 shares) - this is where the beer moves back into da cooler and RtS is congratulatin' me on my patience and predictin' the SOX has more to fall!
$15.24 Minor Resistance (Second time I pressed the short, adding 8,000 shares) - at this point I'll stop drinkin' warm beer in anticipation of cold ones soon to be available and BWAC will rip into Bush again!
$15.28 Minor Resistance (Break-even point if I include Day one early AM gains) - here is where I'll stay up all night decidin' whether to wisely bail or stay the course!
$15.44 Minor Resistance (Third time I pressed the short, adding 5,000 shares) - a return to this level and I'll be allowin' myself time to leave the computer for restroom breaks and spend a few minutes readin' Gottfried's charts when I return!
$15.57 Minor Support (Day Two close – loss on paper $10,250) - this is where I sit tonight wondering if should take the hit and begin mirroring plays from Jacob and kdavy and/or listen more to Ian and Cary!
$15.81 MAJOR SUPPORT (Day One close – loss on paper $16,250) - a move back up here will almost certainly test the extent of my patience and bring grins to a few bullish lurkers!
$15.82 MAX PAIN (Break-even point if I include MTD April gains) - a critical level because this is where I get a cold bed to go with my warm beer!
$16.90 NO PAIN (Break-even point if I include YTD gains) - a move to this level and I'll quit tradin' and go full time into drinkin' Jan's red wine and Sake!
AdvocateDevil |
