Joe Doaks Predicts the NQ Close

Discussion in 'Journals' started by Joe Doaks, Mar 3, 2011.

  1. 3/3/11: 2372.5
  2. i'm short is THIS the top?
  3. I predict the NQ close higher today.
  4. A purely quantitative prediction, and untradeable. Name your number.
  5. Samsara


    My observation: the longer it takes on "gap and go" days (with certain characteristics) to trade up to a few multiples of the early morning's move, the more likely the market will continue trending directly into the close.

    If it gets there before noon, probably there will be a retrace later in the day. If it behaves like today, straight through the close give or take.

    Barring a volume blow off where the second push to new highs is on lower vol than the previous.
  6. Very good. But finding those "certain characteristics" is a bitch. But don't hold past the close. It's a sucker play.
  7. BSAM


    Is this just a plano guess?
  8. Samsara


    Ah, there are ways to identify in the first 10-15 min if there is some probability of those certain characteristics.

    Good call on not holding past the close -- never tried.

    Someone I've been looking into is Mark Fisher (and I never follow any person's "method", but something about what he does makes sense to me). One potential overnight long occurs when price trades down a certain extent early then rapidly rallies to significant highs late in the day, trapping shorts. Never framed things that way myself, but it's worth studying to me.
    #10     Mar 3, 2011