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Market commentary for 03/26/2008 Good day! A quick look at the daily charts will tell all about the intraday action on Tuesday. It was an NR7 bar, meaning the narrowest bar in the last seven days. That is always an opportunity for a trend day the next day. On the 60 min charts, we will...

Market commentary for 03/25/2008 Good day! Monday brought a strong move up, especially for the QQQQ. Unfortunately the volume was not that strong and Monday was a great day for the market and open long trades, but it was not a great day for new setups. The reason for that was there were...

Trade example FTK (Flotek Industries Inc.) Trading plan: Short trade Date entry. 03/20/2008 Entry price: $15.97 Stop price: $15.20 Target area: $15 areas Exit date. 03/20/2008 Exit price: 15.00 % results: 6.07 Result: $0.97 Risk/reward: 4.22...

Trade example FTK (Flotek Industries Inc.) Trading plan: Short trade Date entry. 03/20/2008 Entry price: $15.97 Stop price: $15.20 Target area: $15 areas Exit date. 03/20/2008 Exit price: 15.00 % results: 6.07 Result: $0.97 Risk/reward: 4.22...

Market commentary for 03/24/2008 Good day! After a weak Wednesday close with the indices reaching their intraday support areas (60 min), we saw strength on Thursday. The day started with weakness at the open, but the selling pace was choppy, slow and on light volume which made me suspect...

Watch ideas: 03/20/2008 Long: VRTX next earning date: Apr 30, 2008 http://www.ivicacharts.com/diagrams/2008/03202008vrtx.jpg Short: ABAX next earning date: Apr 24, 2008 http://www.ivicacharts.com/diagrams/2008/03202008abax.jpg AEO next earning date: May 22, 2008...

Watch ideas: 03/20/2008 Long: VRTX next earning date: Apr 30, 2008 http://www.ivicacharts.com/diagrams/2008/03202008vrtx.jpg Short: ABAX next earning date: Apr 24, 2008 http://www.ivicacharts.com/diagrams/2008/03202008abax.jpg AEO next earning date: May 22, 2008...

Market commentary for 03/20/2008 Good day! Wednesday was an interesting day in that the indices were down considerably, however, the drop didn't seem to be that concerning. The FED did two things that surprised the markets. By only lowering the discount rate 75 basis points and a very...

Market commentary for 03/18/2008 Good day! Indecision continued. I tried to explain in Monday's commentary why it is very risky to be active on days like this and why we can expect the same for this week. Because of that I just watched Monday's action and I feel good about it because we...

Market commentary for 03/17/2008 Good day! Someone in the room on Friday mentioned that right now the market action doesn’t have anything to do with technical analysis. I agree with those thoughts. Friday's action clearly shows that fact. After the BSC news, the indices fell and in just...

Market commentary for 03/13/2008 Good day! Wednesday brought a correction after Tuesday's strong move up. As we expected the indices showed strength in the morning because there was room on the charts for that. After the indices reached their resistance areas, the correction started...

Education example EQIX (Equinix Inc.) Trading plan: Short trade Date entry. 03/03/2008 Entry price: $68.45 Stop price: $71.50 Target area: $60 areas Exit date. 03/06/2008 Exit price: 60.25 % results: 11.98 Result: $8.20 Risk/reward: 2.69...

Education example EQIX (Equinix Inc.) Trading plan: Short trade Date entry. 03/03/2008 Entry price: $68.45 Stop price: $71.50 Target area: $60 areas Exit date. 03/06/2008 Exit price: 60.25 % results: 11.98 Result: $8.20 Risk/reward: 2.69...

Market commentary for 03/10/2008 Good day! The jobs report brought the market down and all the indices opened on Friday with a gap down. It was a very whippy day because after the open, the indices filled their gaps and reached their 10sma 60 min resistance areas. But there was no strength...

Trade Example GVA (Granite Construction Inc.) Trading plan: Short trade Date entry. 02/27/2008 Entry price: $33.60 Stop price: $34.70 Target area: $30 areas Exit date. 02/29/2008 Exit price: 30.03 % results: 10.63 Result: $3.57 Risk/reward...

Trade Example GVA (Granite Construction Inc.) Trading plan: Short trade Date entry. 02/27/2008 Entry price: $33.60 Stop price: $34.70 Target area: $30 areas Exit date. 02/29/2008 Exit price: 30.03 % results: 10.63 Result: $3.57 Risk/reward...

Market commentary for 03/07/2008 Good day! Thursday's action gave us a trend day. When we look at the daily charts it is easy to see that but those who followed Thursday's trading saw that the intraday action had divergences between the weaker QQQQ and the stronger DIA. The last hour...

Market commentary for 03/05/2008 Good day! The daily range is holding with Tuesday bringing an intraday reversal. The day started with a gap down to Monday's low support area for the DIA and the SPY. I was expecting that the gap would be filled after the open, but the indices showed...

Market commentary for 03/04/2008 Good day! After a trend day we will usually see a consolidation day. Monday was no exception. The QQQQ was the weakest and made new lows, but that was the room that was left after Friday's trend day. We expected weakness at the open and that was the case...