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. Thanks
========= [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 ; 30 3000 60 6000 [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. [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. ============================ Love learning -Solomon, trader king & Lifelong Learning student.
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. NihabaAshi
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.
Yes. I have attached the links for Index as well as its components. http://in.finance.yahoo.com/q?s=^BSESN&d=c&k=c3&a=ss,r14,m26-12-9,p12&t=6m&l=off&z=l&q=b http://in.finance.yahoo.com/q?s=@^bsesn&f=snlcvi
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 stretch....ie: 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
====== Aston; [a] Real important numbers on entering any market,especially SPY, QQQ, even DIA & related ; 12 Times 6 that is bankers hours per day study. ========================================= 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.