Tuesday, February 24, 2009

Chart of Interest - IEF

IEF - 2009-02-24 201652 - 1w

What do I see?

  • Resistance become Support at $92.75-ish level (see white line.)
  • A higher Support was formed at $93, which happens to be the 50% Fib. from June low to December high

Action Item(s)?

  • None at the moment
  • But may consider Long using $93 as Support

Saturday, February 21, 2009

I Need to Mix Things Up

Things have changed!

Since I have (sort of) started trading again, I have noticed that my work-load at work is no longer the same as I used to when I first started this blog.  It is getting increasingly difficult to find time to daytrade while at work.  My responsibility at work has increased tremendously, and it translates to more meetings, emails, and administrative stuff.  Although my company has just announced a plan to layoff some of its workforce.  If I can avoid the layoff, it only means I will have even more work.  And if I’m PART of the layoff, I guess I will have more time doing daytrading!  For now, I have to be optimistic and assume that I will survive the layoff.  Therefore, I need to re-strategize my trading. 

No, I’m not quitting daytrading!

Instead, I have decided to mix things up a bit.  Instead of solely focus on daytrading, I’m going to mix up my strategy with some swing trading and some long-term trading.  I will still be involve in daytrading whenever I could.  After all, I still see it as an unaccomplished task of mine.  But should you find some longer term charts on my blog, I want to officially disclaim the reason here/now. 

For now, I have decided NOT to change the name of my blog, nor my alias. 

Until next time, Happy Trading!

Wednesday, February 11, 2009

Monday, February 9, 2009

Chart of Interest – XLK

XLK - 2009-02-08 231917 - 1d XLK - 2009-02-08 231858 - 1d

What do I see?

  • I don’t see much except that prices broke $16.49 Resistant

Action Item(s)?

  • None at this moment / Monitor for Long

Chart of Interest - XLE

XLE - 2009-02-08 231001 - 1d

XLE - 2009-02-08 231211 - 1d

What do I see?

  • Pivot Point / Resistance at $53.28
  • I don’t see an Entry at the moment

Action Items?

  • None at this stage
  • Looking for a Long entry

Chart of Interest - SMH

SMH - 2009-02-08 225533 - 1d

SMH - 2009-02-08 230050 - 1d

What I see?

  • A Cup and Handle formation
  • Pivot Points at $19.16 level
  • Gap-Resistance at $23.00, which could also be an even number resistance as well
  • Possible Long entry if prices close above the $19.16 level
  • However, R factor is not favorable if the Stop is set to $16.00

Action Item(s)?

  • None for now