These are my 5 best stock setups
The DJIA
The Dow rallied yesterday after a brief sell off in the
morning. The trailing stops closed out my shorts with decent profits and
the system is flat entering the open this morning. The current channel is
calculating at 10503–10423.  The futures are down as I write,
however, I am entering the open with no bias and will trade the channel per the
systems guidelines. Flat/no bias
OIL
What we witnessed yesterday in this volatile and hyperbolic
market was a classic case of the “buy the rumor / sell the fact”
psychological market phenomenon. Although Katrina was brutally
destructive, she did not live up to the hype and caused far less damage to the
oil production network in New Orleans than forecast. The market spiked
over the weekend then sold off to prior weekend spike levels yesterday. My
shorts are still back underwater, however, my confidence remains high for
eventual profits. Some good news for the shorts is that Steve Forbes went on
record yesterday stating that he believes Oil will be sub 40.00 by next
year!  Short/loss
US DOLLAR
The EUR/USD pair is selling off this morning. My go
short level is 1.2157. Flat/short bias
EQUITIES
(
RIO |
Quote |
Chart |
News |
PowerRating)
This one is not performing as rapidly as I
expected, suffering a small set back from my entry. I am remaining short
at this time. Short/loss
(
CPV |
Quote |
Chart |
News |
PowerRating)
My crime pays play is continuing to hit resistance
at 30. I am holding longs here. Long/loss
(
GOOG |
Quote |
Chart |
News |
PowerRating)
I am remaining flat in the king of search
engines awaiting 277.77 to be taking out before entering short. Flat/serious
short bias
(
EBAY |
Quote |
Chart |
News |
PowerRating)
Holding shorts here. Still expecting
selling soon. Short/profitable
(
BHP |
Quote |
Chart |
News |
PowerRating)
Billiton is remaining in a tight, tight range.
Staying long for a little longer. Long/profitable
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.
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