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

To: Jill who wrote (1691)	8/4/2005 4:05:16 AM
From: Walkingshadow	Respond to of 4814

Hi Jill, Yes, I remember that. At the time, it looked like SSTI had found a bottom and had rallied above the upper BB rail. It was very overbought at the time, and I thought it would pull back within the BBs, and it did that over the next 7 or 8 sessions. So it looks like I got that one pretty much on the money. stockcharts.com[h,a]daclyyay[db][pd20,2!a46.50][vc60][iLk14!Lyb20,2.0]&pref=G Anyhow, after a successful test of support at the middle of the BBs, SSTI resumed the rally. Now after correcting for several sessions, it has again found support at the middle of the BBs a few days ago, and formed new buy signals. 139.142.147.19 The relative strength compared to the Nasdaq 100 has continued to trend upwards. SSTI look like it will move up to the upper BB rail again, where it will test resistance. SSTI looks like a very good short-term (a few days) trade to the top of the BBs. SSTI is at a crossroads here, because it is testing the 200 sma. stockcharts.com[h,a]daclyyay[db][pb50!b200][vc60][iLk14!Lyb20,2.0]&pref=G It is too soon to tell for sure if this will be successful, but chances are it will. Today's candle suggests a momentary weakening of momentum, so SSTI might pull back a bit, but I still think it will trade up to the upper BB rail and the test of support at the 200 sma will ultimately succeed. It might stumble once along the way, but if I were trading it, I would be patient, because SSTI gives every indication that it will continue to get stronger. So... in my view, SSTI is an excellent medium-term trade, and a good short-term trade also. T

To: Jill who wrote (1691)	8/4/2005 4:24:27 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

Hi Jill, WFMI reminds me somewhat of TSO. WFMI is in a blue-sky breakout, and has buy signals showing: 139.142.147.19 But it is a bit overextended now and, like SSTI, will probably pull back within the BBs, test support at the middle of the BBs or at the old level of final resistance at about $124, and then continue the uptrend and seek higher ground. WFMI has been in an orderly long-term uptrend for a very long time now: 139.142.147.19 So, I think in the very short term, WFMI will pull back to support or just trade sideways until the 20 sma catches up with it, then it will push up off support and continue it steady uptrend. WFMI has gradually increased in relative strength as well, a very good sign. So if I were trading this in the short term, I might try to get a bit of a scalp here since today's candle looks very bullish, but a higher probability trade with less risk would be to wait until WFMI pulls back to support, and look for an entry at that time for either a short term trade and/or a medium-term investment. I see no storm clouds on WFMI's horizon at all. It should continue to do well over at least the next several months and into the beginning of 2006, and should easily outperform the market with relatively low volatility (nice risk/reward, in other words!). Nice find.... T