How Do You Enter This Market ?

Discussion in 'Technical Analysis' started by aston, Oct 22, 2003.

  1. aston


    Here is a chart of one of the Asian market.

    It has been going up without any reasonable correction of 20% to 30% for a reasonable risk entry and everyday it seems like when it corrects it might fall like a rock.

    Most of its 30 stocks have gone up from 100% to 500%.

    How do you enter such a market that has been running up for last 6 months and you feel like being left out?

    Any chart illustrations would really help.

  2. =========
    [1]Seems somewhat similiar to QQQ, 6 months;
    even though some stocks in SPY have gone 100% plus.

    [2]Would also check by mail or email with Jeffry Hirsch to see if they cover Asia.

    [3.333] Pay attention to round numbers like ;

    [4] Study more .
    30% may or may not be a good pullback entry and QQQ and your market have had several good pullbacks, 6 months ;
    SPY & QQQ havent pulled back hardly 10% when pullbacked, 6 months.

    :cool: :cool:

    [5]Study enough so I have some profit in an uptrend like your chart or SPY,QQQ thru much earlier breakout entry or shallow pullback entry;

    CSCO 1 year has gone up about 100% pullbacks havent gotten near 20% for educational purposes only.:cool:
    Love learning -Solomon, trader king
    & Lifelong Learning student.
  3. Aston,

    Can you list the symbols of the 30 stocks ???

    You'll probably get a better response (more interest).

    In other words....give more details about the stocks driving up that market.

  4. If you don't know, don't.

  5. I can confidently tell you that the first thing you should do is not take someone else's advice, at least not on a specific trade.
  6. aston


  7. i see two playable pullbacks there.
  8. ertrader1

    ertrader1 Guest

    I would trade this like i did the 99 bull run for 9 months. Follow the trend.

    Im talking intraday, and overnights. Just as i did in 99 i would buy down opens, with an aggresive approach, i would go long overnight on huge up days. I would identify the leaders, and watch them closely.

    I would also use the "rubber band " theory, you will have to figuer out how far it could 6 up days in a row might call for a little shorting of the weaker, lagging stocks.

    I would be fast to cover the shorts if they dont work.

    this is a trending market, from what i can tell. The same style that created a shit load of money in 99.

    Just remember, when you see the crack, as we did in april 2000, dont be affraid to short heavy.

    have fun.....i know i had a blast in 99
  9. Simple and fool-proof answer, enter this marke by buying low. Enjoy.

  10. ======

    [a] Real important numbers on entering any market,especially SPY, QQQ, even DIA & related ;
    12 Times 6 that is bankers hours per day study.:cool:

    Excellant reminder -trend is friend ,uptrend is friend ;
    however its more timely to mention it NOW since QQQ is down ABOUT 3% past 24 hours=about minus 150% year year!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    [z]Patterns may repeat;
    think i will refocus on SPY,QQQ, occasional DIA, occasional derivitive about 12 hours a day again and again and again, including 10 year candles.
    The plans of the diligent tend only to advantage-Solomon,trader king.
    #10     Oct 23, 2003