Sunday, February 29, 2004
Fibmaster’s use of the TRSI and 3x3 continued to keep us out of trouble while letting the profits run. Though we faced a consolidating market in February, ProfitPoint still posted some respectable profits (below). Hopefully the market will find a direction in March so we can duplicate (or better!) January’s numbers!
Our subscriber chat room had it’s best month ever, with many members racking up considerable gains.
See our recent trades and performance details here:
http://www.fibmarkets.com/mem
February ProfitPoint Summary:
3 non-triggered trades
9 positive trades for 14.41
9 negative trades for -3.75
Net gain +10.66
Posted by FibMaster @ 12:20 PM PST [Link]
Saturday, February 28, 2004
We are exiting three positions at months end. With sluggish action due to a consolidation in the markets, many charts are stalling and triggering exits due to lack of momentum. (We may reenter these charts if they move our way. All three have bearish weekly charts, so our bias is to the short side, but they have rallied a little against us.)
AA We entered short 2/23 @ $37.33 and are exiting 2/27 @ $37.47 for a 14 cent loss.click here for AA1 chart In Chart Review, Fibmaster said, "exit if the daily chart crosses up against us, there is no need to wait for your stop to be hit." We prefer to exit in case AA wants to resist a little higher. One reentry strategy is a close below the 3x3 on daily and also below the low of the daily bar of Feb 26th ($36.48). Or, we may reenter on cross down of TRSI after a little rally towards prior highs in January.
AL We entered short 2/25 @ $47.18 and are exiting 2/27 @ $47.63 for a 45 cent loss. For the same reasons as AA. For reentry, we need a close below $46.37 or a cross down of TRSI after a rally to Januray's high.
TCB We entered short 2/23 @ $51.86 and are exiting 2/27 @ $51.98 for a 12 cent loss. For the same reasons as AA. We need a close below the 3x3 for reentry.
Posted by Admin @ 03:04 PM PST [Link]
Thursday, February 26, 2004
click here for BBX chart
2/26 On 2/20 we went short BBX @ $17.41 EOD with the cross down of the 3x3 on daily. (This was an aggressive entry as the blue line had not crossed down over the red line, the TR of the TRSI). We are closing BBX 2/25 with the close above the 3x3 @ $17.50 for a 9 cent loss. In Chart Review Fibmaster states, "Traders may enter this one if it breaks down, but we're out of patience. Something is holding this chart up, the sellers are not materializing. There are better charts to trade, our attention is directed to other opportunities."
click here for Chart Review(42k file)
Posted by Admin @ 05:33 AM PST [Link]
Tuesday, February 24, 2004
click here for ROV chart
2/24 On 2/10 we went long with ROV using the 30 minute chart @ $23.47 (using the 30 minute chart) and we've been facing consolidation ever since. On 2/19 ROV hit our profit point of $25.00 so we closed out half of our position @ $25.10 for a gain of $1.63, 7%. Rov couldn't get up any steam, so we exited the 2nd half of our position @ $24.17 (with cross down of 3x3 and break of .382 level) for a gain of $0.70, 3% (typo on chart--exit first half of position on 2/19, not 2/11)
click here for ProfitPoint newsletter (38k file)
Posted by Admin @ 04:14 PM PST [Link]
click here for GOLD chart
2/24 On 2/17 we shorted GOLD at $22.76. We had a nice move down to our profit point of $20.00 so we closed out half of our position @ $20.33, a gain of $2.43, 10.7%. We'll let the rest ride and see if it can break the $20.00 support level.
click here for ProfitPoint newsletter (44k file)
Posted by Admin @ 03:58 PM PST [Link]
Sunday, February 22, 2004
click here for ADBE chart
There were two trades for ADBE: conservative or aggressive. If you were conservative you did not get an entry trigger. If you were aggressive, like me, you entered 2/17 EOD at $39.19. Then ADBE did just what Fibmaster cautioned about in last weeks Chart Review--"There is some risk that the $40.25 level may stall the chart again. Aggressive traders should watch the 60-minute or daily chart for an exit trigger if this chart stalls." On 2/19 ADBE initially ran for the 40.25 resistance area then quickly pulled back. That was our signal to look for a cross of the 3x3 on the 60 minute chart to exit. When it did, we exited at $39.50 for a small gain of 31 cents. Once again Fibmaster's outlook was right on target and got us out with a small gain and protected subscribers against losses! (look at INTC post for Chart Review)
Posted by Admin @ 12:22 PM PST [Link]
click here for ES2-20 chart
2/22 "Cal", a member of Fibmarkets.com's subscriber chat room, forgot to eat lunch Friday--he was too busy racking up some gains! He shorted the ES e-mini at 1142.75 with the cross down of the 3x3, with a stop just above the .382 retracement. He exited half of his position to lock in some gains at 1140.00 for +2.75. (remember this was lunch time where you can usually expect some slop and it was also options expiration Friday--no time to get greedy). He exited the 2nd half of his position at 1138.75 with the cross up of 3x3 on 3 minute chart (not shown) for +4 points.
This was not the only winning trade Cal had Friday. As a matter of fact, he and the rest of the room were posting winning trades all week. Way to go, everyone!
Posted by Admin @ 06:28 AM PST [Link]
Friday, February 20, 2004
I posted a new chart to our "examples of trend trades" web page. See the top chart here:
Click for trend trades.
Chat members have been trading in and out of these trades for the past two days.
Way to go guys!
These trades are fully explained here:
Click for info on trend trades.
You dont have to join us in chat, just learn to trade these setups on your own, see the video on the above link.
Posted by FibMaster @ 10:01 AM PST [Link]
Thursday, February 19, 2004
click here for ES chart
2/19 There were several Trades of the day today in Fibmarkets subscriber chat room. Really to numerous to list. So I'll just focus on two. There was a gap play in the a.m. off of the mornings hod. Several members made in the area of 3 points, including Fibmaster, Cal, Griffey, Moogie, Brad, and Grant. The gains varied because some used the 3 minute chart to enter and some the 5 minute chart. To help trigger exits was a .618 retracement level and a cross up of the 3x3. Later in the day there was a classic trend trade. (If you've seen Fibmaster's video, you know what I mean). Around 3:00 the 5 minute chart (shown) triggered an entry with the TRSI on the 30 minute chart down (not shown). More aggressive traders could have entered earlier, but this was the safer entry. Cal, Grant and others booked several points on this one. There were several fib levels to help with an exit, including .382 at 1150.5, an sk area in the 1148 area (not shown). Also notice it never crossed the 3x3. (The arrows on the chart are general areas for entry and exits)
Posted by Admin @ 02:53 PM PST [Link]
click here for PLXS chart
2/18 We entered PLXS long 2/9 @ $21.29 and since then it has consolidated. We exited PLXS on 2/18 using the cross down of the 3x3 on the 60 minute chart @ $21.41 for a small gain of 12 cents. Looking at INTC and PLXS you get the idea we don't like consolidation! Fibmaster says in Chart Review, "We don't trade for the pleasure of watching a chart go nowhere." (Look to INTC post for Chart Review newsletter).
Posted by Admin @ 05:13 AM PST [Link]
click here for INTC3 chart
2/18 We entered INTC 2/11 @ $30.48. Since then it has consolidated and our exit was triggered with cross down of the 3x3 on the 60 minute chart on 2/18 at $30.77 for a small gain of 29 cents. Fibmaster's Chart review says take the profit now and use your trading capital on better charts. Aggressive traders can reenter if the resistance at $31.50 breaks.
click here for ProfitPoint chart review (81k file)
Posted by Admin @ 04:58 AM PST [Link]
Thursday, February 12, 2004
2/11 We are removing PD from the watchlist. In 2/11's Chart Review, Fibmaster said "There was no second cross down so no short trigger, and no DRPO was initiated. Instead PD made a bullish run up."
Posted by Admin @ 02:03 PM PST [Link]
Wednesday, February 11, 2004
click here for FDX2 chart
2/10 On 12/17 we went short FDX @ $72.80. We closed half of the position 1/9 @ $65.04 for +$7.76. We closed the 2nd half 2/9 @ $67.65 for a $5.15 gain (+7%). We took the cross of 3x3 on daily after FDX supported for the 2nd time at the monthly L3 of 64.68 and broke a shorter term L3 at 67.00. This was a judgement call--the cautious trader would take this exit while longer term traders could risk giving more back by using the previous swing high at 70.37 as a stop-loss.
Posted by Admin @ 03:15 PM PST [Link]
click here for BRKS chart
2/10 On 1/13 we entered BRKS short @ $25.71. On 2/9 with the TRSI up and 3x3 cross on daily, we exited BRKS @ $23.17 for a gain of $2.54 (9.9%).
We can't stress this enough--let your profits run and limit your losses! The four previous posts (SSTI, PDCO, BBT, and CC) were losses but only totaled -$1.73. BRKS alone more than covers that!
click here for ProfitPoint newsletter(41k file)
Posted by Admin @ 12:22 PM PST [Link]
click here for CC chart
2/10 On 2/2 we took a short position in CC @ $10.67. With TRSI up and 3x3 cross on daily we exited CC on 2/6 @ $10.78 for an 11 cent loss. Take the small loss and let the profits run.
click here for ProfitPoint newsletter (97k file)
Posted by Admin @ 12:07 PM PST [Link]
click here for BBT chart
2/10 On 2/4 we went short BBT @ $36.90. In order to limit our loss, we exited with cross on daily on 2/10 @ $37.41 for a 51 cent loss. Weekly trend is still down, but with sloppy chart we will watch the TR (blue line to cross the red line) to avoid more whipsaw.
click here for ProfitPoint newsletter(49k file)
Posted by Admin @ 11:58 AM PST [Link]
click here for PDCO chart
2/10 On 1/28 we entered PDCO short @ $65.88. On 2/4 daily closed just above the 3x3 to trigger our exit @ $66.59 for a 71 cent loss. Respect the rules and control the risk!
click here for ProfitPoint newsletter (92k file)
Posted by Admin @ 11:46 AM PST [Link]
click here for SSTI chart
2/10 On 2/2 we were triggered a short entry on SSTI at $11.93. It went to within 50 cents of our first profit point, then reversed against us. On 2/6 we used the daily trigger to exit to keep our losses controlled @ $12.33 for a 40 cent loss.
click here for ProfitPoint newsletter (42k file)
Posted by Admin @ 11:36 AM PST [Link]
Monday, February 9, 2004
click here for CCI chart
2/9 We entered 1/16 @ $12.65. It reached our profit point of $11.75 and bounced. Fibmaster said that the enemy of this chart was consolidation and whipsaw, so we didn't get greedy. Friday's action got us out at $12.11 using the 30 minute chart for a gain of $0.54, 4%
click for ProfitPoint newsletter(91k file)
Posted by Admin @ 04:35 PM PST [Link]
Friday, February 6, 2004
Click for S&P daily chart
Weekly trend is up but SI may cross down today. Early to say the weekly trend will change but definitely being challenged.
Daily chart has downtrend but SI is flat now at SK support 1121 area. There are some significant support levels at the following areas: 1121, 1107/1108, 1091, 1077/1080 and 1031/1034.
My gut feel is that 1121 or 1107 will hold. A retracement to 1107 is in line with prior retracements on the daily chart. There is also a trend-line at that level. Below 1107 this chart starts to look very bearish.
Intraday we have had a consolidation since Jan 29th, not fun! Be careful with shorts at these levels unless the 1121 SK level breaks. 30-minute trend is up now, but can easily flop around during a consolidation.
At these levels long trades intraday should be favored, unless 1121 breaks. Shorts are more risky and more appropriate for quick scalps. If you're short and 1121 breaks you'll look like a hero, but it is a risky trade.
Posted by FibMaster @ 06:14 AM PST [Link]
Wednesday, February 4, 2004
click for Cal ES chart
2/4 Trading E-mini futures, Chat room member, "Cal" gets Trade of the day! Entered at 1138.25 on cross of 3x3. He exited 1st half of his positon at 1129.25, near .618 support of 1129, for 9 points! He exited 2nd half of his position using the 3 minute chart (not shown) with cross of 3x3 at 1132 for another 6.25 points. Cal says "trade the rules with the tools Fibmaster provided".
Way to go, Cal, nice job.
Posted by Admin @ 03:42 PM PST [Link]
2/4 We are removing VNO and AMLN from our watch list. Neither triggered an entry as expected. There are better charts!
Posted by Admin @ 03:09 PM PST [Link]
click here for PAYX chart
2/4 We took a Long position 1/22 @ $36.02 EOD. After nearly reaching the 2nd profit point of 38.00, PAYX turned down. On 2/3 it closed below daily 3x3 triggering our exit @ $36.41 for a modest gain of $0.39. There are always different ways to trade a chart. A ProfitPoint subscriber and chat room member, Mojo, entered PAYX long @ $35.73 and exited 1/2 of his position on 1/30 @ $37.51 for a nice $1.78 gain. Using the 60 minute chart, he exited the 2nd half on 2/3 @ $36.45 for another +$1.06. Nice job Mojo!
click here for ProfitPoint newsletter (43k file)
Posted by Admin @ 02:54 PM PST [Link]
Tuesday, February 3, 2004
You will agree our January results are FANTASTIC!
Summary :
3 non-triggered trades. 1 b/e trade
9 positive trades for +24.40 points
3 negative trades for–1.87 points
Net Gain +22.53
For details and sample newsletters, see our trade posts on this web page during January..
Posted by FibMaster @ 07:21 AM PST [Link]
Monday, February 2, 2004
click here for CTXS chart
2/1 On Jan. 15 this chart just barely closed with the TRSI crossed up, triggering an entry at $21.52. Since then CTXS has pulled back to support. Fibmaster stated in last weeks chart review, "There is still a chance that CTXS will rally to our profit-points, but a close with TRSI down at the end of this week will take us out. Also there is a stop-loss at $20.25. This is how we keep our losses small." We exited CTXS at Friday's close with TRSI down at $20.30 for a loss of $1.22 (look at WOR post for full text of CTXS in Chart Review)
Posted by Admin @ 05:13 AM PST [Link]
