Friday, September 22, 2006

Friday and That's A Wrap

Made a bit on AMR this morning. Got on board using a method I call Two White Angels at 10:45 - 11:15 (see the chart and you'll see what that looks like). Got out 45 minutes later at the high of the day. That was pure luck - (high of day that is) - I wanted out at that time because I was done for the day.

I saw a couple of other potentials but when selecting between stocks I normally go with ones that I've played before.

The week ended just fine and met all expectations - i.e. a down week following expiry in September. Next week should be up if history is to be our guide.

Two of the three sisters finished the day in the last hour with white candles and the other one, the Q's, finished with a doji - although I'm not sure what it is resting from having done nothing all but go down.

The up/down ratio dropped some more to 31% and there are 549 new 20 day lows to 233 new 20 day highs. The VIX even went 5% over its 10 day average and all of these things together generally indicate an up day coming.

The magic coin is 11 and 2 having yet another winning day today and for Monday says ... heads - bull market.

I'll be back later this weekend with another filtering method that shows promise.

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