Why GOOG tops my short candidates list
The DJIA
Yesterday, the system had two entries at the
lower channel line of 10627. The first one was stopped out near breakeven on a
wide 3-minute rouge bar. The second entry caught some profits on a quick drop
to sub 10600 at the close. I am holding these shorts into the open today. The
news of the biggest drop in retail sales in four years may weigh on the market
today, as the futures are reflecting at this time. Short/profitable
OIL
My QM shorts continue to flirt with the high of
the last several day’s range of 64. This trade is remains nicely profitable and
the stops are still at 64.44
US DOLLAR
I took a loss on the short trade early this
morning. My short figure of 1.2277 remains the same in the EUR/USD pair.
Flat/short bias
EQUITIES
(
GOOG |
Quote |
Chart |
News |
PowerRating)— Could this be the beginning
of the end for Google? BIDU, the Asian search engine, dropped dramatically
overnight due to a severe analyst downgrade. Is this an ominous early warning
sign for the mighty Google?? Only time will tell. Raising the go short level to
297.97. Flat/short bias
(
EBAY |
Quote |
Chart |
News |
PowerRating)— Holding shorts with slight
loss into the open. Short/loss
(
CPV |
Quote |
Chart |
News |
PowerRating)–Long/profitable
(
SGR |
Quote |
Chart |
News |
PowerRating)—I closed this Katrina play
yesterday with small profits. Removing from list. Closed
(
CMVT |
Quote |
Chart |
News |
PowerRating)— The decision was made to
profitably close this one yesterday. Removing from list. Closed
(
IBIS |
Quote |
Chart |
News |
PowerRating)— I still like this one,
however, I am waiting for our long signal at 2.13 to be triggered to enter.
Flat/long bias
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.