9 replies to this topic

[SemiBizz]

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

This time we're banging down with more volume, but volume has increased overall. Will be looking closer at it tonight.

Edited by SemiBizz, 23 April 2007 - 02:29 PM.

[hiker]

SB - you flat QID and QQQQ for now? btw, note USO price action vs. the 200-period MA on the USO 60-minute, and vs. the near-term d/t line on 60-min

Edited by hiker, 23 April 2007 - 02:42 PM.

[SemiBizz]

SB - you flat QID and QQQQ for now?

btw, note USO price action vs. the 200-period MA on the USO 60-minute, and vs. the near-term d/t line on 60-min

Yes, flat for now. The probabilities are good for a test of 13000 on the old Dow, so why fight that? Also, there's been no overt sign of weakness only stealth. So until I see weakness or just too many stealth signs to ignore, then I'll wait patiently. There's a $4-7 trade there, so I don't have to hurry.

[hiker]

SB - thanks. I noticed today's intraday QQQQ low was a test of the 15 sma on the 60 minute, with near-term t/l support below. in general, I think shorting QQQQ while it continues to close above $45.12 H area, may be too dangerous for now.

Edited by hiker, 23 April 2007 - 03:02 PM.

[SemiBizz]

I looked at your USO 60 minutes. Wants to test that hourly spike high of 52.76 from 3/28...

[hiker]

thanks, SB.

I have 130.60 alert set for DIA potential resistance...see BB's on weekly and monthly

btw, I am currently working on an XLU exit strategy (on weakness only)...several alternatives at first glance. Have been in this long a while. Any ideas are welcome.

XLU weekly

Edited by hiker, 23 April 2007 - 03:31 PM.

[SemiBizz]

DJIA 5 day RSI pulled back from oversold 90 area to a just-under-oversold 79.90 today...

[hiker]

TXN... 35.20 when looking at 3-year weekly Horizontal...may be a good short entry for a scalp....very iffy trade tho'

Edited by hiker, 23 April 2007 - 03:35 PM.

[SemiBizz]

I think we'll know what's what pretty quick here. If the SOX finishes the move up to the 496.50 that will be impressive. Of course, we'll be on alert for that gap n crap move. I see some room for further downside testing to 2490, but we could run right on up to 2551 here before that tests takes place... I think one way or the other they'll get their Dow 13000... that's why I stayed flat today. I still have a little SMH left that I may dump on this euphoria.

[hiker]