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I expect the stock to wiggle and jiggle.. because PG is not a smooth trending stock on the daily chart... but the breakdown is still severe.. --MIKE

Stock is breaking down off a beautiful pattern. Volume was also pretty high for today's breakdown. I am short PG as of tuesday close. PG could pullback to 85.5 which is 50% retracement of the move. Check out the simple chart attached.. --MIKE

Just a heads up here.. this is the first day of distribution for the Nasdaq and S&P 500.. I have already begun baging major profits in this rally... a few more days of distribution and the rally is in serious jeopardy... Babak... with all due respect.. I think you should learn one...

Actually.. you might want to read Trading in the Zone by Mark Douglas... its a better read over his Disciplined Trader.. --MIKE

Iceman... Never try to rationalize the market.. the market does not make any sense.. nor is it ever logical... it has no thought process nor reasoning... At this point QCOM is going down.. so i am short... nothing more nothing less... You sound as if QCOM and MSFT are personally out...

____________________________________________________ Mike I agree pure rubbish. [/B] Just calling a spade a spade. --MIKE

I dont want to derail this excellent thread.. but you clearly see Magna took a cheap shot.. and was making it look like I was annoying everybody with my posts... It just pisses me off when there are so many other threads that really need to be monitored.. and he bashes me for no reason...

I have this program... pure garbage.. doesnt even do flags or pennants --MIKE

Magna.. Great job monitoring this thread... I never knew you spoke on behalf of Dawg... or other members of this forum.... Too bad.. you are not as good of a moderator on 90% of the other BS threads on elite where members attack eachother, solicit business and spam garbage... My posts...

Dawg.. You in this rally from AM? --MIKE

Interesting how QCOM is really bucking the trend.. and continues to stay in the red the entire day... --MIKE

I will say this over and over... you will never be a successful trader... predicting tops and bottoms.. Always go with the flow.. until it stops working... Instead of trying to pick the top.. just wait for the market to breakdown or rollover.. then start shorting and going with the new...

How about using price as your primary indicator... forget about all the indicators and sentiments.... Right now we are stuck in an uptrending channel.... how about shorting when we break down out of the channel... and buying the dips on a pullback??? This will continue to work... until it...

No.. and I really dont care what anyone has to say... its just a trade.. anything can happen... As far as I know.. I am already showing a profit thats locked in... and gonna ride it to wherever she goes.... I never watch financial news.. or listen to other opinions... its all between me...

Shaved off some of the position because the Nasdaq never did breakdown through its uptrend line... still have stop at breakeven to ensure a now profitable trade... Since the Nasdaq bounced off its uptrend line a test of the highs is now in play... or it just can be the mother of all fake...

Fill us in on the performance since your last post.. My bet is that you are still doing well.. :)

Dawg... did you catch the noon breakdown? I beleive it was a "rocket" ---mike

30.66 is the pivot point... thats where things will get interesting... either the stock will slice right through it and implode to the downside... or it will slice it.. only to chop around and rally right back to my green trendline in the chart posted before... The amateur would be...

OK.. my stop is being set to breakeven on the trade.. Now much of the risk has been removed... it should be pure profits from here... or just a scratched trade. --MIKE

Mind to share you strategy? Otherwise... what was the real point of starting this thread? Some sort of tease? --MIKE