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Thursday, May 22, 2008

Build Not

Build not relationships on selfish gain, because a relationship based on profit has lost its genuine meaning.

Z has been talking about OMG. I like it; however, I am waiting for the the bounce first. Do I use the daily or weekly chart? I use the weekly chart to filter out the noise from the daily chart. I normally use candle and P&F charts for TA. Take a look at the hands. Do you see anything?

OMG daily candle.

OMG weekly candle.

OMG weekly P&F

UPDATED: 05/23/2008

Do you ever trade and realized after the fact that you weren't as focused as you should be or need to be? The market has me nervous and taking profit early.

For the record, Schwab Sucks !!! Here's why.

Thursday, May 15, 2008

Pray Not

Pray not for a quick shortcut regarding spiritual introspect, because without excruciating effort, one becomes short-learning.

The same is true for investing and trading. There is no such thing as easy money.

Here are charts for DRYS to show you the importance of trend.

First has my favorite: 4ema crossing 21sma.

Seoond has 200sma cross.

Third has 4ema crossing 21sma and OBV

Hopefully, this will show you the technicals that work and doesn't really work.

Now you now why I tend to use MA and OBV because they tend to be better trend indicator.

Monday, May 12, 2008

Expect Not

Expect not repayment or reward from others for one’s assistance, because calculation and expectation contradicts true service.

I am not sure what to make of this market. I am not suggesting you short everything in sight, because shorts are losing money at the moment. But you need to have some leverages for any long positions.

Saturday, May 10, 2008

Wish Not

Wish not for a life free of mishaps and obstacles, because without them one tends to
become arrogant and egotistic.

I have not made a lot of trades because I have been working 12+ hours (at work and at home) just to get a better understanding of the environment and to create my ownn infrastructure.

I have already show the support for TWM. Now let's look at the resistance.
Do you see how TWM has trouble at the 21ema?

A few days ago I bought at 71.90 and then took profit at 74.50

I was not paying attention to the chart; otherise, I could have gotten another $0.50.

For the same reason, it is very important that you know the exit point before you buy the stock; otherwise, you can be left holding the bag.

Saturday, May 3, 2008

Hope Not

Hope not for easy success in one’s work, because without difficulties and failures, one tends to undervalue others and become overly proud.

Everyone has a niche. Before, my niche was trading STP. Now, I believe my niche is TWM and IWM. I wrote that if IWM breaks 72 then the next resistance is 74. No one believed me and said that it was impossible for IWM to go above 72. IWM went as high as 73.50 before coming back down.

Beating a dead horse again, but use the 200sma.
103% x 200sma for the upside (resistance)
97% x 200sma for the downside (support)

I use both P&F and the above method.

Do you see that even as the stock is dropping, On Balance Volume has not dropped?

200ma = 73.22 x .97 = 71.0234 (on the close)

It's a buy until it closes below 71 for 2 consective days.

And if it cannot break 200ma = 73.22 x 1.03 = 75.4166, it won't go higher.