6 replies to this topic

[Rogerdodger]

I posted a chart on Da-Cheif's 10:35 call.
I put several lines on there (bus stops).
They are easy to identify. Often Stockcharts does it automatically.
One of the bus stops had not been hit when I left for the day.
When I came back tonight, it turned out to be the exact LAST STOP heading North. (96.28 on SSO)
I am amazed at how the market often reacts EXACTLY at the previous bus stop.
Look at how the Q's did it at the close at $46.76.

Identifying those areas can be profitable areas of support and resistance.
They are easy to see but often overlooked.

http://stockcharts.c...40518&r=551.png

[Rogerdodger]

Also notice how the long $VXN trendline was broken when the bus turned and headed South.

[thespookyone]

True Roger-the only problem is that those bus stops are on "rising wedge street" and statistically there is over a 90 percent chance that on one of these runs down-the bus falls off the cliff.

Edited by thespookyone, 11 June 2007 - 10:20 PM.

[Rogerdodger]

If you trade in the direction of the QQQQ:VXN or the SPY:VIX you can ride in a HUMMER!

Edited by Rogerdodger, 11 June 2007 - 10:30 PM.

[atlasshrugged]

If you trade in the direction of the QQQQ:VXN or the SPY:VIX you can ride in a HUMMER!

\

LOL

that thing belongs on the strip in vegas!

[thespookyone]

"that thing belongs on the strip in vegas!" BET THAT

[skyymaster]

Can it dance?