Awesome trading day!
A bunch of thoughts:
Go to your Three Line Break chart (I talked about this in a previous post). Notice anything? Even though today's closing price seemed 'dramatic' and 'red', it wasn't deemed significant enough to plot a bar for today! Which means our Three Line Break chart has had 12 consecutive white bars! Very nice!
Thought #2
Again, even though today's closing price seemed 'dramatic' and 'red', go to your Elder Chart.
Notice anything?
The bar closed BLUE! NOT RED! Which means once again, the bears have not taken control of trading.
Thought #3
As for the pullback people were talking about earlier. Pullbacks aren't always bad; and they have to be taken in context. Go look at SCIE's chart on June 12, 2012. The PPS closed at .05 and then proceeded to pullback over the next several days. Naysayers could say, "PULLBACK! ITS ALL OVER!" but wait..
..look what happened 15 periods later. The PPS skyrocketed to .23 cents!
Thought #4
I don't normally talk about the ADX but ill touch on it for a second. If you want to know how the ADX works, read up about it online; its all there.
Go to your chart and pull up ADX with +DI/-DI (no links or pics in this post; do DD and youll see it).
When I use ADX, I always change the parameter to 20 or 21; but you use whatever variable you want.
Use the +DI/-DI lines to show trend direction (green line / red line).
The ADX focuses on trend. It doesn't care which direction the trend is (up or down). Notice the ADX line is well above 20 (48.46) indicating a strong trend (even though we closed red today, this trend continues).
Notice the red and green lines (+DI and -DI crossed February 22nd). This shows a buy signal.
A simple way to look at this is if the +DI line is above the -DI line, the bulls are in control. And even though we closed red, the bulls remain in control.
Overall, today was a great trading day if you look beyond the simplistic view of 'red day bad' / 'green day good'.
This isn't investment advice. Go call your broker.
A bunch of thoughts:
Go to your Three Line Break chart (I talked about this in a previous post). Notice anything? Even though today's closing price seemed 'dramatic' and 'red', it wasn't deemed significant enough to plot a bar for today! Which means our Three Line Break chart has had 12 consecutive white bars! Very nice!
Thought #2
Again, even though today's closing price seemed 'dramatic' and 'red', go to your Elder Chart.
Notice anything?
The bar closed BLUE! NOT RED! Which means once again, the bears have not taken control of trading.
Thought #3
As for the pullback people were talking about earlier. Pullbacks aren't always bad; and they have to be taken in context. Go look at SCIE's chart on June 12, 2012. The PPS closed at .05 and then proceeded to pullback over the next several days. Naysayers could say, "PULLBACK! ITS ALL OVER!" but wait..
..look what happened 15 periods later. The PPS skyrocketed to .23 cents!
Thought #4
I don't normally talk about the ADX but ill touch on it for a second. If you want to know how the ADX works, read up about it online; its all there.
Go to your chart and pull up ADX with +DI/-DI (no links or pics in this post; do DD and youll see it).
When I use ADX, I always change the parameter to 20 or 21; but you use whatever variable you want.
Use the +DI/-DI lines to show trend direction (green line / red line).
The ADX focuses on trend. It doesn't care which direction the trend is (up or down). Notice the ADX line is well above 20 (48.46) indicating a strong trend (even though we closed red today, this trend continues).
Notice the red and green lines (+DI and -DI crossed February 22nd). This shows a buy signal.
A simple way to look at this is if the +DI line is above the -DI line, the bulls are in control. And even though we closed red, the bulls remain in control.
Overall, today was a great trading day if you look beyond the simplistic view of 'red day bad' / 'green day good'.
This isn't investment advice. Go call your broker.
2
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
http://investorshangout.com/Joeys-Investment-Board-91611/
Invite Only
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties. These links are provided for informational purposes only and are NOT endorsed by the writer of the above post. The writer of the above post has no control over the contents of any linked website and bears no responsibility for the accuracy, legality, or content of the external site or for that of subsequent links.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
The writer of the above post makes no warranties or representations, express or implied about such linked websites, the third parties they are owned and operated by, or the information contained on these websites.
The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
