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Market Arts
Thursday, 24 February 2005
No need to be a hero!
It is time to sit back and observe the market action. Small investor like me is just a small fish against the big whales out in the sea. The Bears will try very hard to short and push this market down, however; beware of the Bulls whom might sneak up and turn the market almost to the close of the day. No telling what is going to happen, but there are times for us to sit back observer and organize a strategy. For a swing trader it is best to wait and know the resolution of market direction. Cash is king, wait till you see who is going to win, then make a sure bet. If you are an expert day trader, you must be tasting piece of bliss, shorting and going long same day same stock. Stocks like WLT and YELL worked just perfect for you, as a ?U? turn for a big intraday profit.

Posted by wizard2/marketarts at 3:01 AM PST
Updated: Thursday, 24 February 2005 10:43 AM PST
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CEDC
Now Playing: For an up side target of $45



If the market action would permit, this a $45 stock.

Posted by wizard2/marketarts at 3:01 AM PST
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Wednesday, 23 February 2005
Orange line alert



Why do we use TA?
TA is used so we have no attachment of feelings towards any stocks. You will lose your concentration if fear and greed creeps in. Let the market show you direction, set your target and execute.
We are now close to a critical point that I drew on the QQQQ chart as an uptrend support with an orange line. As you can see we are very close to it. If we break through the orange line we will most likely experience a psychological change in the market. Fear will set in and slowly it will spread as most stocks will be sold. It will be wise to be in cash and or learn to short.
We do have another possibility that the price bounces of the orange line and go through the upper yellow line. This would create a very complex pattern, possibly going toward the upside.
Time is short; I would say we have around 15 days the most if not sooner, that the market Action will give us direction. Once we resolve the line on either direction I will have more ideas how to play this fun game of money called the stock market.

Posted by wizard2/marketarts at 4:28 AM PST
Updated: Wednesday, 23 February 2005 4:35 AM PST
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Tuesday, 22 February 2005
QQQQ



When you do your technical analysis of stocks you will notice that the picture of landscape will change as time and price action moves forward. Many times a stock will have many shapes of TA that needs to be interpreted. It is very important to do long and short term charting on each stock. As you can see more directions to a stock, the multiple dimensions will give better setups. In this chart of QQQQ, I am only posting one dimension of downtrend channel. As you can see the price action is to the downside. A better clue of what is going to happen is when the upper or lower channel is broken to either side.

Posted by wizard2/marketarts at 12:00 PM PST
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Monday, 21 February 2005
MCZ
Now Playing: For an up side target of $2



Posted by wizard2/marketarts at 3:46 PM PST
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Saturday, 19 February 2005
EENC
Now Playing: For an up side target of $24



Price spiked through the resistance line with high volume and MACD brake out.

Posted by wizard2/marketarts at 12:46 PM PST
Updated: Saturday, 19 February 2005 2:17 PM PST
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