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To: Return to Sender who wrote (2034)4/30/2013 11:44:15 PM
From: The Ox  Respond to of 8239
 
Fortunately for you Ox, you are a day trader, and not long term trader

I am actually a hybrid, day trading for myself and long term trading for my folks IRA, so it's more important to figure out the elementary direction. That's the first and primary responsibly. We've been going up up and away. So in that respect, it's been relatively easy.

With this in mind it's "too easy" to just keep expecting the trend to continue. I'm not going to fight the trend but I'm looking for the change to happen somewhere soon.

Here's another note:

The Volatility Index, the market’s measure of expected stock swings, is often a volatile measure itself. Over the past year, it’s averaged daily percentage moves of 5.2%. But the past 4 sessions saw the index end no more than 1% from where it went out the prior session–the longest such streak since a 5-session run ended April 3, 2012. The current stretch could be a sign investors are comfortably positioned against large stock moves, with no strong buying or selling in the options that can hedge against such events.



To: Return to Sender who wrote (2034)5/21/2013 1:46:48 PM
From: The Ox  Read Replies (1) | Respond to of 8239
 
Just a note on your KLIC short. I would suggest you watch AMAT closely. It has been basing for the entire month of May. If it were to break to the upside, I would be inclined to believe it will take the sector higher with it. Likewise, the opposite is most likely true as well. If AMAT breaks down, then the SCE stocks will probably drop with it.

Good luck !



To: Return to Sender who wrote (2034)12/3/2013 8:34:49 AM
From: The Ox1 Recommendation

Recommended By
Return to Sender

  Respond to of 8239
 
Long term charts RSI just about all over 70, another reason to be slightly cautious.

We do know that they can stay this way for many months....