Staying Short Nasdaq... Against my MRVL Long

http://bigcharts.mar...&mocktick=1.gif

http://bigcharts.marketwatch.com/charts/big.chart?symb=csco&compidx=aaaaa:0&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=4&size=2&state=9&sid=6458&style=320&time=4&freq=1&comp=NO_SYMBOL_CHOSEN&nosettings=1&rand=3355&mocktick=1.gif

Short the Naz, when the Comp Weekly looks like THIS?

http://stockcharts.com/c-sc/sc?s=$COM...93878&r=474

Why?

Scott

http://bigcharts.mar...&mocktick=1.gif

I don't have any idea of what you are referring to, I don't need all those fancy indicators. Price and volume is the work I do, and what we have here is a CLEAR case of a bearish upthrust. That means quite simply that we're going up on less volume than we went down on...

We are clearly over that February 1st week candle on dramatically lighter volume. I had outlined in my work this week a test of 2429.XX from February, we got over that on 2/3 the volume and gave it up, closing under the high, we got confirmation of a price rejection today as we were unable to break the high again and closed down on the day.

So, I don't know what you are looking at, but I'd rather not be bothered with the explanation.

I hope that helps.

I gotta take my shot at the trend line...

Against this trade... 10.70 MRVL... Profit Protection

http://bigcharts.mar...&mocktick=1.gif

Monday there will be huge short-covering in crude and other short petroleum vehicles in Asia and Europe. We should open higher on crude... I'm targeting 122. Short term that will put pressure on the broad market... I am looking for gap down.

Now I have a feeling I can be successful on both ends of this trade... QID vs MRVL. Next week is the Primary Networking and Communications Show (INTEROP) in Las Vegas. Which is why CSCO stood out to me today with the weakness in front of it...

Edited by SemiBizz, 25 April 2008 - 05:24 PM.

http://bigcharts.marketwatch.com/charts/big.chart?symb=csco&compidx=aaaaa:0&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=4&size=2&state=9&sid=6458&style=320&time=4&freq=1&comp=NO_SYMBOL_CHOSEN&nosettings=1&rand=3355&mocktick=1.gif

CSCO is going to fill the gap and will revert to the last day of volume candle low (3/26) 24.55. I don't know what is going to cause it, I just have to see that's where it wants to go here.