Mkt will be closed for Good Friday.
I will be in Paltalk room (qqqllc) this Sunday from 8-9am Pacific Time to answer questions. For new members, bring up your questions. After this session, you will not allowed to ask where to find what type of things any more ;-) just kiding....
Have a great Weekend and enjoy extra day off from trading. Boy, I am already tired on this mkt.
=====================================
Thursday will be a low volume day. Call it a paper cup day is because it can move with the wind just like a paper cup.
ES pivot points for tonight and tomorrow:
R4=862.75 (possible Sunday or Monday's target before pull back_
R3=854.25 (target is reached)
R2=839.75 (likely target)
R1=831.25 (likely target)
Pivot=816.75
S1=808.25 (Support)
S2=793.75
S3=785.25
S4=770.75
Technically, after today's mid-day reversal from 816 (spx), this mkt is trending higher for target 840/850. The question is how can it get there?
My so called buy dip plan for yesterday and today actually worked well, but I got tricked and stoped out on most my long positions on this shake off (with nice gain from QLD and OIH). I will look for trading chances tomorrow and Monday.
Here is what I think, based on upside heavy resistance zone 832-835 cash SPX (SPY-30min)
(1) Tomorrow, many institution traders will not be around. what does that mean? it means if mkt either ends up tomorrow flat or down (but spx 816 holds), then likely we will have an UP monday. But if tomorrow is UP above 835 or even 840+, then we will have a down day Monday to get those who missed boat on board before move forward. I still think from now on we will see a day that print 850 or even 870, then fall hard from there.
(2) Tomorrow if we do have a UP day, then it will likely in Tech or retailers sector. Tomorrow retailers report their numbers in the morning.Financials and energy moves normaly need big boys involve.
(3) I will be watching 835 cash spx carefully, yes, pass 835 means heading to 84X. But if 835 fails, it will lead to sell off again to the down side.
Here is our watch list:
For Energy stocks:
OIH I still like this one on the long side, I will try find a way back in.
DIG/DUG and ERX/ERY (based on XOM and CVX charts and intra-day charts in public chart list)
TCK I am in TCK from 6.6, closed 7.21 today. I'd like to move stop now to 6.85 and ride on this run.
SGR I still like this one, but only buy above 31 and then use 31 as stop
For Financial stocks: GS, XLF (I still think one day they will push XLF to 10/11 next week before fall down hard)
For Tech Stocks:
AAPL, AMZN, RIMM, PCLN Do not short those 4 stocks, big boys are in Long.
QQQQ, QLD/QID (see public chart list for 60min charts to trade QLD/QID)
NTAP-Daily It is at break out line. Nice accumulation pattern. I will buy break out 17 and use 16.75 as stop for only 0.25 risk, target 18.61
IDCC-Daily 4/9 Nice bull flag after big volume break out! above 27.07 is BUY with stop 26.5 target 29
For retailers: TGT-daily should BBBY brings up TGT? Maybe, break above 38/38.5 (use 38 as stop)target 42
Good Luck!
Wednesday, April 8, 2009
QQQ's Classroom for Market Analysis
Mkt will be closed for Good Friday.
I will be in Paltalk room (qqqllc) this Sunday from 8-9am Pacific Time to answer questions. For new members, bring up your questions. After this session, you will not allowed to ask where to find what type of things any more ;-) just kiding....
Have a great Weekend and enjoy extra day off from trading. Boy, I am already tired on this mkt.
=====================================
Thursday will be a low volume day. Call it a paper cup day is because it can move with the wind just like a paper cup.
ES pivot points for tonight and tomorrow:
R4=862.75 (possible Sunday or Monday's target before pull back_
R3=854.25 (target is reached)
R2=839.75 (likely target)
R1=831.25 (likely target)
Pivot=816.75
S1=808.25 (Support)
S2=793.75
S3=785.25
S4=770.75
Technically, after today's mid-day reversal from 816 (spx), this mkt is trending higher for target 840/850. The question is how can it get there?
My so called buy dip plan for yesterday and today actually worked well, but I got tricked and stoped out on most my long positions on this shake off (with nice gain from QLD and OIH). I will look for trading chances tomorrow and Monday.
Here is what I think, based on upside heavy resistance zone 832-835 cash SPX (SPY-30min)
(1) Tomorrow, many institution traders will not be around. what does that mean? it means if mkt either ends up tomorrow flat or down (but spx 816 holds), then likely we will have an UP monday. But if tomorrow is UP above 835 or even 840+, then we will have a down day Monday to get those who missed boat on board before move forward. I still think from now on we will see a day that print 850 or even 870, then fall hard from there.
(2) Tomorrow if we do have a UP day, then it will likely in Tech or retailers sector. Tomorrow retailers report their numbers in the morning.Financials and energy moves normaly need big boys involve.
(3) I will be watching 835 cash spx carefully, yes, pass 835 means heading to 84X. But if 835 fails, it will lead to sell off again to the down side.
Here is our watch list:
For Energy stocks:
OIH I still like this one on the long side, I will try find a way back in.
DIG/DUG and ERX/ERY (based on XOM and CVX charts and intra-day charts in public chart list)
TCK I am in TCK from 6.6, closed 7.21 today. I'd like to move stop now to 6.85 and ride on this run.
SGR I still like this one, but only buy above 31 and then use 31 as stop
For Financial stocks: GS, XLF (I still think one day they will push XLF to 10/11 next week before fall down hard)
For Tech Stocks:
AAPL, AMZN, RIMM, PCLN Do not short those 4 stocks, big boys are in Long.
QQQQ, QLD/QID (see public chart list for 60min charts to trade QLD/QID)
NTAP-Daily It is at break out line. Nice accumulation pattern. I will buy break out 17 and use 16.75 as stop for only 0.25 risk, target 18.61
IDCC-Daily 4/9 Nice bull flag after big volume break out! above 27.07 is BUY with stop 26.5 target 29
For retailers: TGT-daily should BBBY brings up TGT? Maybe, break above 38/38.5 (use 38 as stop)target 42
Good Luck!
I will be in Paltalk room (qqqllc) this Sunday from 8-9am Pacific Time to answer questions. For new members, bring up your questions. After this session, you will not allowed to ask where to find what type of things any more ;-) just kiding....
Have a great Weekend and enjoy extra day off from trading. Boy, I am already tired on this mkt.
=====================================
Thursday will be a low volume day. Call it a paper cup day is because it can move with the wind just like a paper cup.
ES pivot points for tonight and tomorrow:
R4=862.75 (possible Sunday or Monday's target before pull back_
R3=854.25 (target is reached)
R2=839.75 (likely target)
R1=831.25 (likely target)
Pivot=816.75
S1=808.25 (Support)
S2=793.75
S3=785.25
S4=770.75
Technically, after today's mid-day reversal from 816 (spx), this mkt is trending higher for target 840/850. The question is how can it get there?
My so called buy dip plan for yesterday and today actually worked well, but I got tricked and stoped out on most my long positions on this shake off (with nice gain from QLD and OIH). I will look for trading chances tomorrow and Monday.
Here is what I think, based on upside heavy resistance zone 832-835 cash SPX (SPY-30min)
(1) Tomorrow, many institution traders will not be around. what does that mean? it means if mkt either ends up tomorrow flat or down (but spx 816 holds), then likely we will have an UP monday. But if tomorrow is UP above 835 or even 840+, then we will have a down day Monday to get those who missed boat on board before move forward. I still think from now on we will see a day that print 850 or even 870, then fall hard from there.
(2) Tomorrow if we do have a UP day, then it will likely in Tech or retailers sector. Tomorrow retailers report their numbers in the morning.Financials and energy moves normaly need big boys involve.
(3) I will be watching 835 cash spx carefully, yes, pass 835 means heading to 84X. But if 835 fails, it will lead to sell off again to the down side.
Here is our watch list:
For Energy stocks:
OIH I still like this one on the long side, I will try find a way back in.
DIG/DUG and ERX/ERY (based on XOM and CVX charts and intra-day charts in public chart list)
TCK I am in TCK from 6.6, closed 7.21 today. I'd like to move stop now to 6.85 and ride on this run.
SGR I still like this one, but only buy above 31 and then use 31 as stop
For Financial stocks: GS, XLF (I still think one day they will push XLF to 10/11 next week before fall down hard)
For Tech Stocks:
AAPL, AMZN, RIMM, PCLN Do not short those 4 stocks, big boys are in Long.
QQQQ, QLD/QID (see public chart list for 60min charts to trade QLD/QID)
NTAP-Daily It is at break out line. Nice accumulation pattern. I will buy break out 17 and use 16.75 as stop for only 0.25 risk, target 18.61
IDCC-Daily 4/9 Nice bull flag after big volume break out! above 27.07 is BUY with stop 26.5 target 29
For retailers: TGT-daily should BBBY brings up TGT? Maybe, break above 38/38.5 (use 38 as stop)target 42
Good Luck!
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