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tough call Jose! I don't know when and where you got in. My chart has said the same thing all along, if you have been following the thread, you know the story. You are asking me for a short term top before a short term pullback. If I'm wrong, I'm a jackass, if I'm right, you'll ask me for another one. Let's do this: I'll calculate the range for next week after the close tomorrow and I'll post it to your attention sometime before Monday. Actually, I will post the formula that I use, which is from the DeMark book. If you have the inclination, you could get the book too. And yes, right now I am about as long as you could be on the stock. I also have April 40 calls and June 35 calls. I am looking for a fast spike above 40 on heavy volume to get out of my Apr 40 calls. Short term, I'll tell you a little of what I look at...I watch a 3 minute bar 13 period RSI, the 50 period MA, and the 13 period Momentum. I also run the 2 minute bar with the same filters for a confirmation signal. I look for candlestick patterns and I try not to trade "against the market". You can see the same sort of thing with any oscillator (stochastics for example). I also use the S&P 500 as a filter. I am a big fan of "the more you know, the better you will do"...see what works for you, it's your money! best, pete |
