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Q's long trade update


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#11 hiker

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Posted 04 January 2007 - 04:13 PM

20 day 60 minute -

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#12 CLK

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Posted 04 January 2007 - 05:20 PM

Short here at resistance, right ?

#13 hiker

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Posted 04 January 2007 - 05:43 PM

no...not the way I am playing this. I sold horizontal resistance today, but only closed longs...not now short.

will monitor price action and trade strategy from here using some of the data shown in this 60 minute closing basis chart (monitoring same data on 3 and 13 minute):

horizontal resistance was sold today...yes.

I am paying more attn to price action vs. the trendines....

ck out Ted Burge's QQQQ analysis which is usually on the first page in recent days -

http://stockcharts.c...et?obj=ID445101

note price vs. the 20 day sma for QQQQ and SOX...a sustained move above could blow out all those beared up...we'll see.

looking at the facts only...this chart shows current strength of price action, and weakness is yet to appear...

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Edited by hiker, 04 January 2007 - 05:48 PM.