Friday, April 20, 2007

Anything Is Possible

In the Google Zone - or the "thank God GOOG made some money" rally. As I wrote yesterday the fear was so thick you could cut it with a knife - and fear goes both ways - fear that GOOG misses and you lose a hundred bucks just - like - that and fear that GOOG excels and you miss out on a hundred buck rally just - like - that.

Fact is nothing really happened - GOOG opened up 19 and is currently at 16 and drifty. But that kind of describes GOOG - doesn't it?

How many played QID off of Resistance 2 this morning? Come on - show of hands - it was a natural - the counter play to yesterday. The difference being it only dropped to R1.

For a short term play this is where you could use the RSI(2) < 2 indicator as your trade ender. As soon as you get the signal you could close the trade. In my software for Qtracker I turn the bar purple when the RSI(2) gets to the desired level.

I picked up a coal company, ANR, off a new method I've been working. I'll explain more about that this weekend. So far it's sat tight so I'm not sure if it will make any money or not. We'll see.

I'm still holding AMAT but it was very close to a stop out this morning and may get there yet.

AKS continues to run as does GGB.

This is the kind of day when trading sucks - everything happens in the first five minutes and because it is expiry day - there is no more volatility.

Good trading all.

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