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07/2008
31.03.2008
Editor's
Notes
Trading
Tips:
Fibonacci retracements
Sector
and ETF
Watch list
Stock
watch list
Contact me
My
blog
Simple
stock trading
home
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Low volume in action
Hello,
after short lived rally stock markets gave all gains back.
It was typical bear market rally fueled mostly by short covering then by new buying.
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I do not like low trading volume which was presented during last week.
It does not tell good story about markets. Big players are staying aside.
When I review March I have to say it was not good trading month.
Trendless markets offered only few opportunities to trade. And news
driven market stopped a lot of my trades. So it was necessary not to be
aggressive and stay on sidelines.
I am still waiting for the time when volume will pick up again.
Then I will go with more aggressiveness to trades. During my
regular weekend analysis I noticed some sectors already bounced from
their important resistances so new downtrend move could start
soon.
I am preparing to trade aggressively when I will see some trends are starting to move.
Happy trading,
Richard
Fibonacci retracements
I like to use Fibonacci retracements in my stock chart analysis. It is
simple tool available in every good stock analysis software.
It helps me to understand how strong the trend is. More examples and descriptions are in this article on my pages.
.... top of newsletter
Sector and ETF Watch List
Most of ETFs I scan are in position for short trades. It is still bear market and I think current rally already finished.
Long
ETF watch list: UNG, GML
Short
ETF wacth list: SMH, XLU, XLE, INP, XLY, XLF, XLI , TLT, INP, EWY, EWU, GUR, Short ETF like SDP and SIJ, (long trade = short sector)
International ETF monitoring European Emerging markets (GUR) is forming bearish continuation chart pattern. I think it will move down . I am monitoring for breakdown of this chart pattern.
(click to image to enlarge chart)
Stocks Watch List
Markets are still rangebound in lowest part of last trend move. It is
bearish sign, so I am prefering to enter short trades. For long trades
I wil pick only strongest stock - like stocks near its 52 week high
Long
Watch list: VVUS, HEW, ACV, GEF, SIAL, PRGO
Short
trade watch list: GOOG, AMZN, BA, AUXL, LLY, HON, JNPR, MNST, COP, FPL, AKAM
Questions ?
I will be pleased to reply to any of your questions. Do you have
something to discuss ? Or would you like to read something in next
issue of newsletter or on my web pages or in my blog ? Let me know .
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