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Q's ...5th up
Started by
eminimee
, May 21 2007 10:05 AM
4 replies to this topic
#1
eminimee
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I don't care who's fur is flying...
Posted 21 May 2007 - 10:05 AM
#2
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 21 May 2007 - 10:20 AM
#3
thespookyone
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Posted 21 May 2007 - 02:06 PM
Could truncate, sure-but I'm more worried about it not hitting your original target for 5, where I'm looking to buy puts at-time will tell.
#4
Mr Dev
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Posted 21 May 2007 - 02:11 PM
Is Nasi daily bottoming ??
http://stockcharts.com/c-sc/sc?s=$NASI&p=D&b=5&g=0&i=p48070899656&a=70936999&r=7642.PNG
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Or is the Nasi weekly topping ??
http://stockcharts.com/c-sc/sc?s=$NASI&p=W&b=5&g=0&i=p48070899656&a=70936999&r=9663.PNG
http://stockcharts.com/c-sc/sc?s=$NASI&p=D&b=5&g=0&i=p48070899656&a=70936999&r=7642.PNG
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Or is the Nasi weekly topping ??
http://stockcharts.com/c-sc/sc?s=$NASI&p=W&b=5&g=0&i=p48070899656&a=70936999&r=9663.PNG
Edited by Mr Dev, 21 May 2007 - 02:13 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#5
thespookyone
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Posted 21 May 2007 - 04:37 PM
Ah Teaparty-your center point chart, my favorite. The one that saved me a bad entry, and, I'm guessing is soon due to make me a lot of cash. I'd like to make a couple comments here, now, because tomorrow they would be rear view mirror-and hardly fair, as everyone has 20/20 hindsight.
First, on your chart, you pointed out that the top may come on May 21st, and for my money-it just may have. Yep, we are in wave 5, allright-but. as they say "where she stops,nobody knows". While, of course, your 47.48 number may be yet hit-maybe it won't, as well. If you look back at your center point chart, what we have basically done, is a low volume backtest of the upper line in your RST-one of my favorite places to take a short position. MACD seems to be losing momentum here, and I doubt the Dow can look much worse-and it has lead the other indexes. The volume combined with the drop on QID today had a bit of a "capitulation smell" to it, which I can not ignore. While my "perfect storm" situation is a run to your 47.48 target-I'll settle for a top here as well. I took a small position (60) in the June QQQQ 46 puts today at .30, BUT, I will not hesitate to add quickly if I see the Q's start to break down from here. If we don't breakdown here, most of my powder is still dry, and if the storm comes-I'm ready to dance in the rain.
Spooky
Edited by thespookyone, 21 May 2007 - 04:37 PM.
