Here Are The Stocks I’m Waiting To Get Triggered Into
The DJIA
As expected we witnessed more of the same on Monday in the DJIA. Large
intraday moves without any follow through. The new channel stays intact at
10577–10723. The system entered short on Monday, when the lower channel
line was violated, but was stopped out at even when price shot back into the
death channel. These are trying times for my index system, patience is the
key here. I am maintaining my short bias and expect a sustained channel
breakout on the downside very soon. Flat/short bias
OIL
I am flat oil here. My research has caused a
change in strategy on this vehicle. I will short should 64.97 be taken out
on the downside and go long if 67.13 gets violated on the upside. Speaking of
oil, I am looking at an interesting trading tool, created to allow
consumers to hedge their price exposure in various commodities. They are
called Hedgelets and created by a company named Hedgestreet. The gasoline
hedgelets are quite interesting. I may trade a few and will let you know
what I think of the exchange. Flat
US Dollar
The Euro continues to weaken against the dollar. I have closed the long
pair trade at 1.2325 and am looking for entry levels at this time.
Flat
US Equities
(
GOOG |
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News |
PowerRating) —
A spike up yesterday to my stop level ended a very nice,
profitable trade. I am flat here, awaiting entry signal.
Flat
(
X |
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PowerRating) — US Steel was up a little yesterday at the close and is currently
trading down a bit this morning. I am holding longs at this time.Â
Long/profitable
(
EBAY |
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PowerRating) — Maintaining short bias, awaiting trigger figure of 40.77 to be
broken before short entry. Flat/short bias
(
PLMD |
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PowerRating) — This one spiked down at the open and did not trigger our short
entry due to the spike. The new levels are 35.77 to short and 36.55 to go
long.
Best wishes in the market!
Dave G
David S. Goodboy (marketsurfer) has been
trading professionally for over 14 years. Mr. Goodboy trades ETF’s, stocks,
index futures, energy futures and options. His primary focus is a unique
multi-time frame index trading system based on a combination of time/price
cyclical studies and statistical models. David was a trader/partner with
Biltmore Capital, traded with an option arbitrage firm, and is currently in the
launch stages of IntrendX, a global multi-strategy fund.