Thanks, Chris, for the lead on MDYN. I'll look at it's graph tonight. I'm happy about my gain last week with buying at the support level of 710, though I didn't expect the massive 180 point move up over the next 24 hours. I'm always reminded of my $100K loss on a BB stock I bought last year, so I take these gains with the reminder to not get over-confident. I would be happy to have 50 $2K gain days to make up the $100K loss than 5 $20K days, but I'm not complaining.
The OEX will have trouble pushing through 739, so it's got a certain amount of risk going for more than scalp trades at these levels. Bedford believes we'll see new highs, maybe even this week if Friday's numbers come in on the low side of estimates on non-farm payroll. When it does go through 739, look for heavy put buying in anticipation of profit taking and a bull trap by the bears.
I'm starting a subscription to Mark Cook's 2X daily FAX service and Paragon's FAX service to see if they have some more insight into market direction. Anyone have experience with either? Paragon's is rather new, while Mark Cook has a very good background, I understand. Cook has been quoted often by Barron's.
Good trading.
Regards,
Stuart |
