Wednesday, March 31, 2004
3/31 KEG dropped below our buy zone and MAN rallied above our short zone, so both are removed from our watch list. There are better charts!
Posted by Admin @ 03:08 PM PST [Link]
click here for UCL chart
3/31 We went short UCL on 3/24 @ $36.83. It couldn't find any momentum so we closed the position 3/30 with the close above the 3x3 on daily @ $36.80 EOD for a break-even trade. Once again Fibmaster's use of the 3x3 keeps us out of trouble.
click here for ProfitPoint newsletter (97k file)
Posted by Admin @ 02:59 PM PST [Link]
Tuesday, March 30, 2004
click here for CAKE chart
3/30 On 3/26 we went long CAKE at the open at $44.98. Today our sell order for half our position was filled at Fibmaster's first profit point of $46.75 for a gain of $1.77, 4%. We hope the cake keeps rising for the remaining half position.
click here for ProfitPoint newsletter(43k file)
Posted by Admin @ 11:00 AM PST [Link]
Thursday, March 25, 2004
Click here for DY2 chart
3/25 On 3/10 we went short (re-entry) DY at $26.51. Today with the cross up of TRSI we closed DY at $24.94 for +$1.57, 5.9%. ProfitPoint does it again! (Look to TCB post for Chart Review)
Posted by Admin @ 04:27 PM PST [Link]
Click here for DITC2 chart
3/25 On 3/2 we went short DITC at $18.57. On 3/9 we closed half our position at $16.35 for a $2.22 gain, 12%. Today with the cross up of TRSI we close the remaining half at $15.45 for +$3.12 more, 16.8%. Another great ProfitPoint trade! (look to TCB post for Chart Review)
Posted by Admin @ 04:21 PM PST [Link]
click here for TCB2 chart
3/25 WE went short TCB on 3/9 at $51.71 EOD. Today with the cross up of TRSI we close the position at $49.20 for a $2.51 gain, 4.8%. Another great trade from ProfitPoint. In 3/25 Chart Review, Fibmaster says, "The next rally could be a great short too." So let's keep an eye on TCB!
Click here for Chart Review (47k file)
Posted by Admin @ 03:40 PM PST [Link]
Mar 24
This was essentially a sideways day, with the market in a consolidation
channel.
Posted by Admin @ 10:17 AM PST [Link]
Tuesday, March 23, 2004
click here for DPL2 chart
3/23 We went short DPL 3/10 @ $20.17 and closed the first half on 3/17 @ $18.45 (8.5%). Today, 3/23, with the cross up of 3x3 on the Daily chart we exit the 2nd half @ $18.30 for +$1.87 (9%). (Look at AHC post for Chart Review)
Posted by Admin @ 04:22 PM PST [Link]
click here for AHC2 chart
3/23 We entered long AHC on 3/17 @ $65.38. It gave us one day advance then turned against us. With the cross down of the 3x3 today, 3/23, we exit at $64.61 for a small loss of 77 cents.
click here for Chart Review (49k file)
Posted by Admin @ 04:10 PM PST [Link]
click here for S&P chart
March 22
The market pushed below the weekend support level 1095/1096 and supported
at the next lower SK support near 1085/1086.
The S&P had a down day losing about 14 points from Friday, but the 5-minute
chart shows a mostly sideways day between 1102 and 1087. You would think that
14 points would be great for profitable shorting.. Unfortunately too much of the
days range consisted of gaps and spikes, so there was not much trend to trade.
The morning started with a gap down, followed by a drift to 1096 support
where it made a quick flash below that. From there we had a slow drift up
to an ideal shorting price at SK resistance 1098 area. We entered short
there but had no momentum after entry, just a slow drift downward until an
exit was triggered with a small profit. That was the most secure entry of
the day, but the move was small. See attached chart.
After that we had boredom and consolidation until the close of trading.
Today was a great day to learn when to pass on a trade! I did that most of
the day, patiently waiting for the optimim setup, and passing on the many
sloppy possibilities. Imagine all the slippage and commission we saved!
Posted by Admin @ 09:20 AM PST [Link]
Wednesday, March 17, 2004
click here for CBI chart
3/17 On 3/8 we went short CBI at $27.95. After supporting near Fibmaster's 2nd profit point, CBI bounced today and we used the 60 minute chart to close the position at $25.40 for a profit of $2.55, 9%. Daily traders would use today's close for exit at $26.43, for a profit of $1.52, 5.4%. Nice gains either way.
click here for ProfitPoint newsletter (42k file)
Posted by Admin @ 04:48 PM PST [Link]
Click here for DPL chart
3/17 We went short on DPL on 3/10 at $20.17. After passing thru two profit points, DPL may have found support just above the 3rd profit point of 17.50, so we are banking some nice gains on half of our position for +$1.72 (8.5%) and will let the rest ride. If it consolidates, we may get an exit trigger on cross of 3x3 on daily for the 2nd half.
click here for Profit Point newsletter(44k file)
Posted by Admin @ 04:17 PM PST [Link]
click here for AA2 chart
3/17 On 3/8 we reentered AA short at $36.42 and, like AL, we got a nice move down. With the cross of the 3x3 on Daily chart today we closed the position at $34.87 for a $1.55 profit, 4% (See ACS post for Chart Review)
Posted by Admin @ 04:02 PM PST [Link]
click here for AL2 chart
3/17 On 3/8 we shorted AL at 46.13 EOD. Momentum took it to the SK support area of $40.50 where it found support. We got our exit trigger today with the cross of the 3x3 on Daily chart at $44.20 for a gain of $1.93, 4% (Look at ACS post for AL Chart Review)
Posted by Admin @ 03:48 PM PST [Link]
click here for WOR2 chart
3/16 On 3/10 we shorted WOR at $17.28. It never developed any downward momentum and today, 3/16, it crossed the Daily 3x3 so we exited at $17.32 for a 4 cent loss. Once again the 3x3 and
TRSI keep our losses small.
click here for ProfitPoint newsletter (45k file)
Posted by Admin @ 03:02 PM PST [Link]
Monday, March 15, 2004
click here for CACS chart
3/12 We entered short CACS 3/5 @ $10.68. On 3/11 CACS bounced after almost hitting the first profit point of $9.25. As a result we closed half our position on cross of 3x3 on 60 minute chart @ $10.03 for a 65 cent gain, 6%. We had an order in for the remaining half at break-even and were stopped out on 3/12 (look to ACS post for Chart Review)
Posted by Admin @ 04:43 AM PST [Link]
Sunday, March 14, 2004
click here for ACS chart
3/12 We went long ACS 3/1 @ $49.39. Initially this chart went in our favor. Intraday traders tooks some nice gains at the first profit point of $51.75 for +$2.36. Because of the initial move and breaking the previous high, we daily traders got a little greedy and it cost us any gains. We exited our postion 3/11 at break even. You live by your decisions and you move on!
click here for ProfitPoint Chart Review (78k file)
Posted by Admin @ 06:20 AM PST [Link]
Thursday, March 11, 2004
click here for ADP2 chart
3/10 We already banked $1.64 on the first half of our position in ADP (see below). We closed the 2nd half today at $43.11 EOD for a small gain of 26 cents. Fibmaster says in Chart Review "the chart has become too volatile with insufficient momentum".
Posted by Admin @ 04:33 AM PST [Link]
Wednesday, March 10, 2004
click here for DITC chart
3/10 On 3/2 we took a short position in DITC @ $18.57 EOD. On 3/9 DITC reached its previous low and we used a cross up on the 3x3 on the 60 minute chart to exit half of our position @ $16.35 to lock in some gains. +$2.22, 12% (Look at Chart Review to see how we are treating the rest of this trade).
Click for DITC newsletter, free copy. (94k file)
Posted by Admin @ 03:03 PM PST [Link]
This chart is for discussion in our intraday chat room.. Careful with longs until the 1st SK resistance level breaks.
Click for 5 min S&P chart.
Posted by FibMaster @ 06:47 AM PST [Link]
Tuesday, March 9, 2004
click here for TIN chart
3/8 We went long TIN on 2/27 at $65.15. On 3/8 Tin hit its first profit point so we closed out half of our position EOD at $66.05 for a 90 cent gain. We entered an order for the remaining half at break even and were stopped out 3/9.
click here for ProfitPoint newsletter (85k file)
Posted by Admin @ 11:41 AM PST [Link]
Sunday, March 7, 2004
click here for ADP chart
3/4 On 3/2 we went long ADP @ $42.85 at the open. On 3/4 when it hit its first profitpoint we exited half our position EOD @ $44.49 for a quick $1.64 gain (3.8%). There is still a chance that the second profitpoint will be reached ($45.75), but we will exit the rest of our position if it retraces too much and TRSI crosses down.
click here for ProfitPoint newsletter (40k file)
Posted by Admin @ 11:46 AM PST [Link]
click here for DY chart
3/4 We entered DY short on 3/3 @ $25.67 EOD. The next morning, 3/4, DY gapped up at open so we used the 60 minute chart for and exit @ $26.20 for a small loss of 53 cents. DY still looks like a good short at either of those two resistance zones (per newsletter), but we exited as a precaution to keep losses small. We will watch the daily chart for another entry trigger.
Posted by Admin @ 11:31 AM PST [Link]
Saturday, March 6, 2004
click here for 040305_es_3_5 chart
On Friday, 3/5, Fibmaster demonstrated once again how to let your profits run. (chat room subscribers Cal and Griffey realized some nice gains with this trade also). Of particular note is how Fibmaster added to his position: first, on the cross down of the 3x3 and TRSI on the 3 minute chart (on right), then more on the cross down on the 5 minute chart (on left). He then reversed the strategy to exit: covering partial position on the cross up of 3x3 and TRSI on the 3 minute chart, then the remainder on the cross up on the 5 minute chart. Notice also how it stalled briefly in the 1160 area and again in the 1155 area, but without a cross up of the 3x3 Fibmaster stayed with the plan and waited for the charts to give him an exit trigger. This was a classic "Letting your profits run" just as Fibmaster explains in his video seminar! Have you mastered this strategy yet?
For details see:
Click here for link to video lesson
Posted by Admin @ 06:53 AM PST [Link]
Wednesday, March 3, 2004
click here for GOLD2 chart
3/3 On 2/17 we entered GOLD short @ $22.76. (On 2/24 we closed out half of our position @ $20.33 for a $2.43 gain). Gold seems to be finding support near our profit point here, so we're closing out the 2nd half @ $19.87 EOD for a gain of $2.89 (12.7%) (Refer to previous GOLD post for newsletter)
Posted by Admin @ 03:20 PM PST [Link]
click here for PH chart
3/3 We entered PH short on 2/20 @ $57.99. It made a nice move down, then consolidated. On 3/1 we exited with a cross and close above the daily 3x3, @ $56.82 for a gain of $1.17, (2%). Not bad for a weeks work.
click here for ProfitPoint newsletter (40k file)
Posted by Admin @ 03:09 PM PST [Link]
3/3 As PETD (ProfitPoint newsletter 2/23) never gave us an entry trigger, we are removing it from our watchlist.
Posted by Admin @ 02:58 PM PST [Link]
