Trade only with clear and convincing pattern Be Patient |
| Wednesday, May 24, 2006 Daily Activity Day Trading and Short Term Swing Trading: STS (Short Term Swing, 1 to few days) Stock Picks 8:00 - 9:45am (West Coast Time) (new) Good Morning PSS GM (strong) PEIX CECO Stocks to watch, be very conservative, trade only with price clearly above 10MA and MACD is crossing over on 5-minute chart, and be ready to get out once it comes below 10MA. Market will be choppy for many days to come No Swing trading based on this morning condition before 9am 10:30am Cancel all setup and stay out Update PSS met entry pattern in last hour, and breakout new high, carry overnight Overall market also rally up. PSS: can use Buy Stop order based on my setup in case of taking breaking. ______________________________________ Swing Picks (1-3 months) Overall market has been in downtrend. That means more people lose money. It may be choppy from here on. It is ok to stay on the sideline. Dow and Nasdaq are not at bottom yet. ______________________________________ LIVE Training for Part Time Trading PSS: entry level above 24.00, stop loss 23.65 (10:26:34) Around 11.45am PSS broke 24.00, buy stop order triggered at 24.06 It broke new high with high volume. Nasdaq also moved above 50MA Based on all conditions on 10-minute chart, this is a short term swing trading First target price is 25.50 |
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