Market is about trading with supports and resistance, here is another classic example of action required with in a move, at 1311 I had 1305 as my support and 1318 as my resistance, as 1305 was not tested I saw 1318 taken out and 1330 resistance laid in ruins soon after. Look at SOX 402 breaks next target is 440.. for me the real fight is on now at 2505 on Comp give me this break on double close basis I will give you SPM at 1382 and onward to 1430.. I don't short inter day as I feel like doing it, I am never bearish or bullish but I am a reader of the market, a baby reader with very little conventional tools can do it. Now go back and read the posts of your self-styled gurus and see how they have been whipsawed.. Go to 27th May read the trades one by one, and see how they get it all wrong. Paper trade ideas you see and trades you see and the biases you notice this is the best way to learn. Comp 2505 is the next big resistance and we need to see what happens next but to know about future gain from past. Nowhere else you will find a better and more equipped cemetery of non-sensible directions, go to the ever green bear sites and ever green bear posters...see how CNBC Jerry Favors influence them, and notice how they neglect a bounce off 50 days MA..
If you want to become good in trading follow these fly by night characters and compare them with my posts, print them and place them side on. don't get shocked if you see that they change opinions and pick my levels with in 30 minutes of my post, that is going on far too long, but learn trading through comparison. You will find why it is important to know an underlying 'fundamental technical and sentiment'trend,trade direction is always a combo of three elements. 'Feel like shorter' got it on the chin last night however this is the story going on since SI came to existence.. 'Sadistic investors' wake up...
Friday, Jun 4 1999 10:26AM ET
Reply # of 26862
Comp if it closes above 2505 will only signal a long term buy otherwise right now I am
enjoying the trade to 1318...SOX 402 break and you can see a run 450... DOT after
two breaks with interval below 550 trying to break 564... if we have close above this
564 you will see 625...1318 right now is first resistance and 1305 support.. |
