You are scarcely good! I studied your entry point at 11:35AM....probably based on a Bullish Engulfing bar printed by the 5 minute chart at Price Support level.
In my case, I was more conservative and waited until 12:02PM when there was a gap-up, as the down-trend was broken and when the price was both ABOVE the 50 for SMA and RSI.
You had almost a 3 point head-start while I rode the gain all the way til the end of the trading day and PU almost 9 points.
I hope you don't mind I'm guessing (hopefully correctly) and posting our trade set-ups for learning purposes.
Having posted our setups, ppl. you must read Carl's post "Why do most traders fail? Change your ways. Now.".
The idea is that you don't waste your time waiting for the "easy" setup but to get into the mode to observe and learn what the market is doing.
Remember Carl's piece "Never Mind.." when he called for a change in market direction? He read the market perfectly and changed his opinion on the dime with confident and he was right.
Carl, I read your Contrary Trading book last year - great job - it is the only one of it's kind out there!
Question - you do a great job on your short-term trading...Can you recomend a book or course so I can start learning the same techniques you use? What is the technique called?
9 comments:
Carl, Do u see a pullback before we go higher? If so, could u shed some light on that...
Carl, Enjoy your blog. But isnt this market getting a little lofty and in need of a time out?
Most all dow stocks are trading above their 50 day ma.
Were getting close to the 61.86 retracement and incidently we have a venus uranus sextile after the close.
Time and price ?
Carl..can you start following apple and give guidance on it on your daily update (like you do on google?? Would appreciate it.
Based on earnings for next quarter, price is $286. Yahoo has it as 296, Cramer has it at 300
Janet,
AAPL posts from apr 20th:
http://marketkarma.blogspot.com/2010/04/in-news-aapl-apr-20-2010.html
and from apr 23rd:
http://marketkarma.blogspot.com/2010/04/aapl-update-apr-23-2010.html
Agreed, AAPL is the bull leader of the current bull market. MK
Carl,
You are scarcely good! I studied your entry point at 11:35AM....probably based on a Bullish Engulfing bar printed by the 5 minute chart at Price Support level.
In my case, I was more conservative and waited until 12:02PM when there was a gap-up, as the down-trend was broken and when the price was both ABOVE the 50 for SMA and RSI.
You had almost a 3 point head-start while I rode the gain all the way til the end of the trading day and PU almost 9 points.
I hope you don't mind I'm guessing (hopefully correctly) and posting our trade set-ups for learning purposes.
Having posted our setups, ppl. you must read Carl's post "Why do most traders fail? Change your ways. Now.".
The idea is that you don't waste your time waiting for the "easy" setup but to get into the mode to observe and learn what the market is doing.
Remember Carl's piece "Never Mind.." when he called for a change in market direction? He read the market perfectly and changed his opinion on the dime with confident and he was right.
I have a lot to learn.
Carl, I read your Contrary Trading book last year - great job - it is the only one of it's kind out there!
Question - you do a great job on your short-term trading...Can you recomend a book or course so I can start learning the same techniques you use? What is the technique called?
Thanks,
Joe M.
Carl,
I spent time studying your Box Theory. Very instructive...
I now fully appreciate why you have the edge and confidence. You have some awesome tools.
Learning+Practice+Experience=WISDOM.
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