Alex the professional trader

12 December 2007

12-12-07 : GOOG fell out of up channel

GOOG fell out of my up channel, and thus I will sell any GOOG call.

I would have cut loss @ 708 area. when it fell out of the channel. I would not have seen my call go all the way down till 699. Thus once again, my channel strategy has proven to be a good cut loss method.

I am still somewhat hopeful GOOG will go to 740. This may just be a slight retracement. Whatever it is, until it get back to the channel, I will not touch it.

daily
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15min
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12-12-07 : Dow Jones down again

Last night DJ is down big. From 13800 level down to 13430. Down about 370 pts.

For those who short the indice using CFD, of coz its $370 profit to pocket.

The indice falls out of my up channel at 13724. And that is the pt i will cut loss.
Thus loss is contained at 13800 - 13724 = $76.

Cdl wise, its a bearish engulf. Not too optimistic. I think a slight rebound is due, but if it will cont to climb up to 14000 is a question. Need to see tonite's movement to decide.

For now, i will leave the DJ untouched.

daily
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15min
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10 December 2007

10-12-07 : GS forms a diamond

Diamond is not a common pattern. Not for GS.

I am new to diamond. What is the direction of the diamond breakout?
I am not sure. From 15min, i can only assume its upwards, since MACD rises above 0.

daily
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09 December 2007

10-12-07 : RIMM double bottom

RIMM broken its daily up channel, and enters a $24 box (100-124).

May go up to 120 within this week.

daily
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07 December 2007

7-12-07 : BIDU facing its $400 wall again

Its going toward $400 for the fourth time. Will it break this time?
15min MACD just cross 0 up.

but daily price fell out of up channel.

daily
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15min
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7-12-07 : BSC has bullish engulf below 100

Its 98, below 100, and its bullish engulf. Will it break 100?
we wait and see.

daily
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15min
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7-12-07 : AAPL reached 190 barrier

Its the defining moment again for AAPL. Can it break 190 this time, and not retrace?

Lets hold our breath and wait in anticipation.

daily
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15min
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7-12-07 : MA in up channel

MA is still in up channel. Only the lower part of the up channel.
15min confirms that. Wait for a bit of retracement to the btm of up channel for
a call.

daily
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15min
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7-12-07 : GS Call options - which to choose

Lets look at GS Jan08 Call options :

strike option price O/I
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220.00 GPYAD.X 16.00 17,608
230.00 GPYAF.X 11.00 16,504
240.00 GPYAH.X 6.90 20,275
250.00 GPYAA.X 4.30 15,514

If GS is going up, which will you choose ?

I will choose $230.

RIMM : $100 support will hold?

I believe it will hold. Key is 15min MACD is crossing 0 up. daily down channel is broken.

However, MAX50 cross down, and price is below them forming hot wet blanket. Thus I am not so sure if it will be up so soon.

THus I wait.

daily
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15min
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7-12-07 : GOOG will go back to up channel

GOOG is still going higher despite break up channel. Thus we wait for it to go back to up channel before confirms its cont uptrend.

daily
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15min
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7-12-07 (Fri) : GS triangle formation & significance

GS forms triangle, in the midst of down channel, in the midst of uncertainty.

Will triangle breakout determine the direction of the price for the next 1 mth?

How significant is this triangle?

If it breaks down, it also breaks the yearly uptrend line.

If it breaks up, it also breaks the down channel. Thus the break of triangle
and its direction will have significant effect on the direction of the price for
the next few mths.

Is there any tell tale signs of where it will break?

(1) MA20X50 down for now. Its not too bullish.
(2) OBV is trending up. A bit positive
(3) ADX heads below 20, confirming a lack of trend now for GS.
(4) Bollinger shows Gs is the at the mid of the band, again saying direction is not
sure.

15min chart offers more clues. The MACD just cross 0 up. Thus i am bullish that the price will soon break 224, and later 230. after breaking 230 it will be confirmed the direction is upwards, and will soon reach 250.

Perhaps all awaits the answer that lies in the triangle breakout.

I will wait for the breakout.

daily
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15min
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06 December 2007

6-12-07 : FTSE is bullish

FTSE broken 6500 resistance up. Now is 6508. But 1hr channel is at top of up channel. Thus may want to wait for retracement to btm of up channel before long it.

daily
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