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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: Gush who wrote (1275)	7/14/2005 12:28:18 PM
From: Walkingshadow	Respond to of 4814

Gotta run to a meeting, hopefully I'll get a chance to look at these a bit later. I'm still trying to decide whether to go short QQQQ here.... Things are mixed today, I would have liked to have seen more evidence of selling into strength. So far, it's been less than I was hoping for. So this is a tough call. T

To: Gush who wrote (1275)	7/15/2005 4:31:49 AM
From: Walkingshadow	Respond to of 4814

Hi Gush, Sorry this took so long. Here's my spin: BBY: A stock that has steadily gotten stronger. Now BBY is overbought with minimal signs of technical weakening, but a reversal candle today and yesterday. 139.142.147.19 I think it is likely BBY will pull back to test chart support at about $70, and that test will probably be successful. CI: Sell signals in place, and a pullback has begun. First test of support is the 20 ema at about $107. 139.142.147.19 Watch this one for further tightening of the BBs, which will get resolved to the upside. CTX: A bearish candle today as CTX was turned back from the upper BB rail, which it has been pushing up on since mid-May. 139.142.147.19 Now there are technical sell signals in place. Look for a re-entry at support from the 20 sma/20 ema region (around $72), which will probably hold. ERTS: I see mixed signals here... but that upside gap that ERTS is encroaching on will prove very tough resistance for a stock with relatively low relative strength. 139.142.147.19 ERTS is also trading into chart resistance formed from the island gaps: 139.142.147.19 Most likely, ERTS will move lower from here, probably all the way down to the lower BB rail which is the most likely of the two to get pushed open. FD: FD is pulling back with confirmed sell signals and bearish candles. 139.142.147.19 FD would be a potential short, but not without significant risk since it is a pretty strongly uptrending stock. LEH: LEH has really moved and gathered strength since the reversal candle at the mid-May bottom: 139.142.147.19 Now, like so many other charts I am seeing, LEH is showing sings of weakening from extremely overbought conditions. I think LEH will pull back from today's clear reversal candle, which was the sixth consecutive up day in a row, and saw LEH close completely outside the upper BB rail. There will likely be a regression towards the middle of the BB now. WHR: WHR is consolidating at the middle of the BBs, trying to gather itself for a run at resistance. 139.142.147.19 This area is also former chart resistance, now chart support (long-term): stockcharts.com[h,a]waclyyay[df][pa70!b20][vc60][iLg!Lk14]&pref=G There are buy signals in place now. Looks like a pretty decent long position to me, with a stop just below support at the middle of the BBs. T