Sunday, November 05, 2006

"Market will do what we expect it to do"

"Only not when we expect it to"

Have not had a lot of time do do homework today, took my dog to the vet into emergency room, so we both are in the very unhappy mood - dog, because she hates that place, I - because for 3 minutes visit charge was $147 - may be I'll stop trading and apply for vet position.

Anyhow, after looking at the chart and analyzing stars alignment with corresponding ETFs, I think:
oil has bottomed (USO)
oil services about to breakout ( OIH )
commodities, confined to tight ascending triangle for the last month most likely will breakout on within next few days (DBC)
mining stock will follow ( XME )
biothech, underperforming last week, is about to start next leg up ( BBH, IBB)
gold will start consolidating after impressive move up last week, unless
semis is a very sad story, dead money for the last few weeks, still is (IGW)
And on and on and on...

candidates
longs, each with corresponding GTC/DAY stop limit order:
TNOX - GTC stop 14.3 limit 14.55 - something is going on
CERS - GTC stop 7.65 limit 7.72
KFI - GTC stop 19.83 limit 19.93
NL - GTC stop 11.53 limit 11.65

short,
FMCN - DAY stop 55.5 limit 55.2

Answering comment question: "
Anonymous said...

Is the limit price the price you are looking to buy above and the gtc your stop if it goes against you?"

Stop in this case is an "activation price" - I don't want ( in many cases ) to buy a stock which will be sitting at the same level or will pullback, I want to buy it after breakout
And the limit price is the MAX price I willing to pay after "stop" is activated ( in order not to pay top price and then sit on it forever )
Better place to ask questions is on the tagboard on the left side - I'll see it right away
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1 comments:

Anonymous said...

Is the limit price the price you are looking to buy above and the gtc your stop if it goes against you?