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We focus on trading strategies that have historically given traders a significant edge when it comes to investing in the stock market. We have worked under and have been trained by some of the top investors of the past 25 years including WILLIAM O’NEIL(bestselling author and founder of... More
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Global Chart Analysis
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Better Stock Entries
  • Trading Plan for Wed Feb 10-How much left in this short term rally and what to do with open positions? 0 comments
    Feb 10, 2010 2:12 AM | about stocks: QQQ, CTSH, BVN, VIT, BUCY

    Open Positions
    We had about 25 trades trigger on Monday which turned out to be 1 day early. Mondays short lived rally only lasted ½ of a day and then we sold off to close near the lows of the day. This was very bearish action and not something one wants to see when they are due for a bounce. It all worked out just fine since on Tuesday we got our rally. Many of our positions were up 3-4 times what the average stock was up today. This is why we pick the stocks that we do. We are not only timing our entries for high probability entry points but the stock list itself that we screen from are ripe for well above average moves if we can catch them correctly.
    Here are some of the nice moves we got on Tuesday

    CTSH

    BUCY

    BVN

    VIT

    Market Direction and New Setups
    We are very reluctant to enter into many new trades here since we are still technically in a downtrend. We could get a bounce back up to the 50 day MA but on the weekly chart things look much more ominous. This tells us we had better not get too deep into this market and timing your entries and exits are essential to survival right now. Not many traders are making money in this market but we just nailed this last move once again after accurately calling out this recent top.
    NASDAQ Daily Chart-Looking for a bounce up into at least the 100 day MA if not the 50 day where it will most likely stall and reverse lower

    NASDAQ Weekly Chart-broke critical support and looking ominous

    New Setups

    No new setups for Wed Feb 10

    Thanks

    Better Stock Entries

    Disclaimer:

    Global Chart Analysis and www.betterstockentries.com ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

    It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

    HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

    www.betterstockentries.com

    603 S. Prospect Ave

    Redondo Beach, CA 90277



    Disclosure: No Positions
    Stocks: QQQ, CTSH, BVN, VIT, BUCY
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