Discussion in 'Journals' started by dgabriel, Mar 13, 2002.
Closed 1,000 KLAC short @ 63.73
+ 1.25 points intraday
Worked out pretty well.
seem poised for a bigger move which I would like to catch.
BRCD is tightening upon the dailies.
Watching homebuilders - lots of indecision.
VIX at 2 year lows. 5 period RSI on the weekly VIX is now at 0.0.
It has only done this 3 other times since 1998 and only once for 2 weekly periods. Each instance was followed by a spike in the VIX of varying sharpness and corresponding drop in the major indicies.
The problem is that the market is not giving us an overbought condition. Its meandering and signaling further weakness.
Anybody care to comment, please do so.
Will look to take my longs off the table this week and draw up short candidates. Might hold BBH since the biotechs often have a mind of their own.
Bernie Schaeffer was on CNBC recently and his comments were the same as yours. He's looking for more weakness.
Was he the guy who played on Seigfried on Get Smart?
Oh no, that was Bernie Koppel.
Sold QQQ 36.04 premarket +.15
Short 500 RYL @90.45
How low do you think NVDA will go by end of April. Post reply.
I've been waiting for the 45 breakdown for a week and I missed it today by 6 minutes. I was short @44.16 and got shaken out at 44.25 6 minutes before it finally broke down for the second leg. With the volume drying up, I just didn't think it would go today and I wasn't going to hold it over a long weekend. I was looking for 40 before a bounce. I think it will end up around 40 at the end of April but might get down to 38-39 between now and then.
It's about to test it's 20 period moving average on a 3 minute chart. Do you think it's got another leg down here?
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