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  • #121
  • Apr 13, 2012 2:52am Apr 13, 2012 2:52am
Heres one of my setups for today, CREE has been on my radar for a while now and I think that the third time CREE tests resistance will be the charm in breaking it.
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  • #122
  • Apr 14, 2012 1:49am Apr 14, 2012 1:49am
Get ready to rumble, 3 inside days in a row, this thing will soon blow!
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  • #123
  • Apr 14, 2012 2:31am Apr 14, 2012 2:31am
The trend is your friend, until it bends. The tech sector has already bended, as shown by QQQ (The Nasdaq ETF), which is considered to be a good indicator of the technology sector. This was confirmed by non-other than the mammoth AAPL (Apple), which bended and broke its trend line on above average volume.

Should Apple sell off, panic should creep into the sector but I expect buying to come back in at some point. This should mark the beginning of a consolidation phase. Choppy price action is to be expected, a full blown reversal in price is unlikely.

The warning signs to AAPL and the tech sector came in a while ago, after SNDK (Sandisk) crashed down with a massive gap to trade below its 200 SMA and break below resistance, the news release that triggered this selling can be found here. This gap was followed by selling which sent the stock another $5 down. Again, this was just a warning sign, not an invitation to sell, the stock is bound to bounce sooner rather than later. If you caught the move when it broke below its 200 SMA and resistance, well done!

One of the stocks on my radar for this move is A (Agilent Technologies), I am waiting for a breakdown below support, the same level has been tested 4 times, a breakdown at this point seem to be imminent with a lot of room to go, the next support level is at 40.50, then at 39.00 where the 200 SMA resides.

Again, this isn't an invitation to sell, selling short is a difficult game to master, short covering rallies take out even the best traders due to the short reversal nature of the move. Moves down don't go smoothly, their usually highly intense bumpy moves. That’s where position sizing comes into play, you have to size it appropriately as to not get shaken out.
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  • #124
  • Apr 14, 2012 12:45pm Apr 14, 2012 12:45pm
kmx on daily.
the downmove started on very high volume.
i am short since 33.45 usd by the break south out of the box.
positive earnings report showed nearly no support. somewhere near above 30.00 usd is a good target for short.

nice thread split_unit, btw. love to read here. keep it up! thanks
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meine augen sind die sterne
  • #125
  • Apr 14, 2012 11:42pm Apr 14, 2012 11:42pm
Quoting aserbfx
kmx on daily.
the downmove started on very high volume.
i am short since 33.45 usd by the break south out of the box.
positive earnings report showed nearly no support. somewhere near above 30.00 usd is a good target for short.

nice thread split_unit, btw. love to read here. keep it up! thanks
aserbfx! Thanks man, welcome back & where were you this entire time? Missed you around here

Awesome trade btw! You nailed it, your also right about the price target, I would target the same level as its where the 200 SMA resides. Sellers should also gain further ground if we get a break down in the XRT (Retail Industry ETF) which would only add fuel to the fire.

Split
  • #126
  • Apr 16, 2012 12:24pm Apr 16, 2012 12:24pm
Quoting split_unit
Get ready to rumble, 3 inside days in a row, this thing will soon blow!

AET broke down.
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  • #127
  • Apr 16, 2012 12:27pm Apr 16, 2012 12:27pm
I don't expect the down move to persist until the SPY (S&P 500 ETF) takes out the lows as the QQQ (Nasdaq ETF) did, and because of that, I am keeping my options open to trade both on the long and short side of stocks tomorrow.
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  • #128
  • Apr 16, 2012 12:35pm Apr 16, 2012 12:35pm
Apple is selling off, and that is whats causing the QQQ to sell off and diverge form the SPY. Things rarely go straight up then straight down, I expect some buyers to come back into Apple at $560 as its where the 50 SMA resides. If it cuts right through the 50 without any kind of support then that would suprise me and would indicate that the sellers are serious.
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  • #129
  • Apr 16, 2012 12:46pm Apr 16, 2012 12:46pm
Quoting split_unit
The trend is your friend, until it bends. The tech sector has already bended...
Agilent might have not broken down today, but it remains on my radar as I watch it brew around that key 42.00 level. The double bottom on the hourly chart suggests that the brewing and churning should persist around the $42.00 level vicinity before a breakdown occurs. I like this chart but am not married to it, if it moves above 43.75 convincingly then that would negate my short idea, and until that happens, I will continue to wach that 42.00 level like a hawk!
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  • #130
  • Apr 19, 2012 12:39am Apr 19, 2012 12:39am
Heres a link with a cool chart.
  • #131
  • Apr 20, 2012 3:07pm Apr 20, 2012 3:07pm
Nice consolidation on both the daily and hourly timeframes. Needless to say, I am watching this. Volatility is set to come back into gold, with the direction being unknown.
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  • #132
  • Apr 21, 2012 3:26am Apr 21, 2012 3:26am
Quoting split_unit
The trend is your friend, until it bends. The tech sector has already bended, as shown by QQQ (The Nasdaq ETF), which is considered to be a good indicator of the technology sector. This was confirmed by non-other than the mammoth AAPL (Apple), which bended and broke its trend line on above average volume...
Heres my update on the above:
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  • #133
  • Apr 21, 2012 11:24am Apr 21, 2012 11:24am
ua on daily and weekly.
wait for a retest of the 100 usd.
nicely with the trend.
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meine augen sind die sterne
  • #134
  • Apr 21, 2012 3:33pm Apr 21, 2012 3:33pm
Quoting aserbfx
ua on daily and weekly.
wait for a retest of the 100 usd.
nicely with the trend.
Nice setup aserbfx, hope it works out for you.This stock is heading north while the market is headed south, awesome relative strength here.

I wanted to daytrade this stock on monday to catch some of its momentum to the upside but then realized that it was a +$100 stock with an ATR thats double the normal ATR I trade so I opted for other ideas.
  • #135
  • Apr 24, 2012 11:27am Apr 24, 2012 11:27am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
What happened to the mini NASDAQ 100 today?
hello
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give 1 and get 100
  • #136
  • Apr 24, 2012 4:10pm Apr 24, 2012 4:10pm
Don't worry, AAPL pushed it up 30+ points
  • #137
  • Apr 24, 2012 4:26pm Apr 24, 2012 4:26pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
close long with much gains
i like US index
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give 1 and get 100
  • #138
  • Apr 25, 2012 12:15am Apr 25, 2012 12:15am
Quoting JeremyWS
Don't worry, AAPL pushed it up 30+ points

Welcome to the thread JeremyWS & duca, I was away last night and didn't play the NASDAQ trade as it felt like a gamble. It was 50/50 trade, we were either going to get a collapse or a rally in the NASDAQ due to Apple. Congratulations duca for catching the move!
  • #139
  • Apr 25, 2012 12:19am Apr 25, 2012 12:19am
Quoting split_unit
Welcome to the thread JeremyWS & duca, I was away last night and didn't play the NASDAQ trade as it felt like a gamble. It was 50/50 trade, we were either going to get a collapse or a rally in the NASDAQ due to Apple. Congratulations duca for catching the move!
aapl was up to 600 usd in after-hours trading.
let's see how it performs today.
meine augen sind die sterne
  • #140
  • Apr 25, 2012 1:40am Apr 25, 2012 1:40am
Again, this is why I dont trade FX.
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