SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Jim's Nasdaq100 Special as a basket. -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (658)5/12/1999 11:50:00 PM
From: Compadre  Read Replies (1) | Respond to of 2103
 
Jim: I think that just because it is trying for a new high does not mean a start of a bull rally. But it could certainly mean that this down draft has lost it's strength. We may get a 30% retracement to the October lows instead of a 60% retracement. In any case, I think the tone has improved a lot.

Regards,

Jaime



To: James F. Hopkins who wrote (658)5/13/1999 1:21:00 AM
From: Smooth Drive  Read Replies (2) | Respond to of 2103
 
Hello Jim,

Well I've certainly enjoyed reading your comments.

It was last Thursday that I thought we might see a reversal up in the P&F chart but that didn't happen until today. Current chart:

114                                                  X *
112                                              X   X O * <BRRL
110                                              4 O X O X
108                                              X O X O X       
106                              X           X   X O X O X
104                          X   X O         X O X O X O
102                          X O X O X   X   X O X O X   + 
100                      X   X O X 2 X O X O X O X O X + <2nd BLRL
99                       X O X O X O X O X O X O X O X 
98                       X O X O X O X O X O X O X O 
97                       X O X O   O   O X O X O +
96                       X O X *       O X O X *
95                       X O X   *     O X 3 X   * 
94                       X O X     *   O   O       * < BRSL
93                       1 O X       *   +           *
92                       X O           *               *
91                       X           +   *               *
90                       X         +       * < BRSL        +
89                       X       +           *           +
88                       X     +               *       +
87                       X   +                   *   +
86                       X +                       +
85                       X                       +   *
84                   X   X                     +       *
83                   X O X                   +           *
82               X   X O X                 +               *
81           X   X O X O                 + < 1st BLRL
80           X O X O X                 +
79           X O X O                 +                     +
78           X O X                 +                     +
77           X C                 +                     +
76           X                 +                     + 
75           X               +                     +        
74           X             +                     + < BLSL
73           X           +                     +
72           X         +                     +
71           B       +                     +
70           X     +                     +
69 O         X   +                     +
68 O         X +                     +
67 A         X                     +
66 O       + X                   +
65 O     +   X                 +
64 O   +     X               +
63 O +       X             +
62 O X   X   X           +
61 O X O X O X         +
60 O X O X O X       +
59 O   O X O       +
58     O X       +
57     O X     +
56     O X   +
55     O X +
54     O +
53     +

BulLish Support Line (BLSL); BulLish Resistance Line (BLRL); BeaRish Support Line (BRSP); BeaRish Resistance Line (BRRL) and High Pole Formation (HPF).

Today's reversal up is a positive reversal up after the pullback. It will have resistance from the unofficial BRRL waiting at 112. The 3rd BLRL is also sitting in waiting at 116 with its resistance pads on. Of course there will be the horizontal resistance at 114.

In my last post, I suggested two possible ways to trade this current pattern long as 1) buy here and place a sell stop order at 97, or 2) place a buy stop order at 110 (the reversal up point) and then a sell stop order at 102. I'm much more partial to the second method. Risk is always the bottom line, so we calculate it as: (Price Objective - Entry Point)/(Entry Point - Stop Loss) = (130 - 110)/(110 - 102) = 2.5/1 The buy here reference was when the last O was at 104.

QQQ BULLISH PERCENT CHART

The grand ole P&F Sicilian Master Chartseer has been keeping daily QQQ Bullish chart data since 3/12/99. The daily chart looks like this: 

72
70 X           X
68 X O     X   X
66 X O     X O X
64   O     X O X
62   O X   X O X
60   O X O X O X
58   O X O X O
56   O X O X 
54   O X O X
52   O X O X
50   O X O X
48   O X O X
46   O X O X
44   O X O X
42   O X O X
40   O   O

This Bullish % chart is in Bull Confirmed risk status. (70% of the 100 stocks that make up the QQQ are on a P&F buy signal. And that means the other 30 are on sell signals.)

BULLISH PERCENT RISK STATUS DEFINITIONS:

BULL CONFIRMED: Occurs when a column of X's moves above the previous column of X's.

BULL CORRECTION: Occurs when a column of X's in Bull Confirmed risk status reverses down to a column of O's and 1) does not move below the previous column of O's, or 2) reverses down from above the 70% level but does not move to the 68% level or lower.

BULL ALERT: Occurs when a column of O's in Bear Confirmed risk status drops to the 30% level or lower, and then reverses up to a column of X's and does not move above the previous column of X's.

BEAR CONFIRMED: Occurs when a column of O's moves below the previous column of O's.

BEAR CORRECTION: Occurs when a column of O's in a Bear Confirmed risk status reverses up to a column of X's, and does not move above the previous column of X's.

BEAR ALERT: Occurs when a column of X's in Bull Confirmed risk status moves to the 70% level or higher, and then reverses down to a column of O's that drop to the 68% level or lower, and does not move below the previous column of O's.

NOTE: The above is just for grins and chart discussions. No recommendations of any kind are being made or suggested. Everyone needs to do their own DD or seek professional help when making investment decisions.

Take care,

Eric




HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News