Ms. Mae’s Trade Strategy

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At $33.56 SU is now neutral. AAPL has turned slightly bullish at $163.02, JPM at $112.50, BAC at $31.33, and VRX at $18.12 (though I have my doubts about this one).

All of these stocks gapped down at the open, which put them back in bearish territory, though AAPL and VRX look like they're trying to climb their way back out (which VRX succeeded in doing, but it's now looking to have only been temporary).

 

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Most of the 19 equities in my basket are located in what amounts to the middle of nowhere for me. The two exceptions are SU, which at 33.25 just now dropped to a level where I could technically justify shorting the stock, and TWTR, which appears to be pretty much immune to the bearish pressures under which most other stocks are suffering, and is still a buy for me at 31.47

At $32.33 TWTR hit what I perceive to be a take-profit level/target.
Also, I will consider AMZN bullish if it manages to climb above $1403.88 (AMZN turned bullish for me 40 minutes after the opening bell and is now at $1418.16).

 

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At $33.00 TWTR climbed higher than I would have expected, so I will be curious to see if it temporarily pulls back from this level.

 

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AAPL has turned slightly bullish at $163.02, JPM at $112.50, BAC at $31.33, and VRX at $18.12.

JPM and BAC have joined AAPL and VRX in climbing back to the bullish side.

 

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LATEST ADJUSTMENTS:

The reason for including SMA (YYY), the day-to-day trend, on my five-minute Forex charts was to track the general overall direction of price, but that was before I added SMA (ZZZ), the week-to-week trend.

I’m now finding that SMA (XXX), which I regard as the most important moving average of all and think of as the 15-minute “intermediate” trend, is in actuality more of a day-to-day trend line as well, except it follows price more closely than SMA (YYY) which, as I already stated, is more interested in representing the general overall direction from day-to-day.

Consequently, SMA (YYY) has come to feel more and more like a relatively lagging indicator.

And since I regard SMA (XXX) as the most important moving average, and given that I’m now essentially relying on SMA (ZZZ), the week-to-week moving average, to provide me with the general overall direction of price, I am presently almost completely ignoring SMA (YYY) and have therefore removed it from my five-minute Forex chart setup, at least for the time being.

When it comes to the five-minute stock chart setup, I already said SMA (XXX) is pretty much a purposeless indicator because, on stock charts, it lags behind the general overall trend.

But if this is true of SMA (XXX), it follows that it must apply even more so to SMA (YYY).

Nonetheless, I am leaving both indicators on the stock charts, along with SMA (ZZZ), because I believe when price crosses above or below these moving averages, it’s an indication as to whether the market is bullish or bearish—though I am not sure if this is a valid belief and am unable to verify its legitimacy at this time.

There is no question however that the market is bullish when these lines are actually sloping upward, and bearish when they are actually sloping downward. But by the time this happens, the point at which the asset first switched to the corresponding sentiment or bias is way, way in the past.

Acting on the assumption that the above thoughts are not completely off base, FSLR looks to have assumed a verified bullish sentiment today, and the same is true of RACE and GS.

Of course, this was already the case with AAPL, AMZN, JPM, BAC and VRX, though the latter looks to be fading fast.

Even though SU climbed a bit after it gapped down at the open, the way I interpret my charts, the asset is technically still bearish.

I was curious to see if TWTR would pull back from $33.00, but it did not. Three days ago it gapped up to $34.06 at the open and climbed as high as $34.95, so perhaps it’s trying to climb up to that level once again.

 

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Guiding Principles Version #1:



Trainers and experts often teach that buying and selling foreign currency pairs online successfully requires some type of edge—something that gives individuals an advantage over others in the market or over the market itself. However, conceptualized in this manner, there probably is no such thing as an “edge.”

The truth is that rather than try to gain an advantage over the market, what traders should be looking to do is gain insights into the market. As one expert put it, successful trading is not about being in competition with the market. Rather, it’s about being in agreement with it.

If you have no idea as to how to come into agreement with the market, you really have no leg to stand on when it comes to trading off any kind of chart, regardless of the timeframe. The only reason to use charts is to know what the market is thinking and doing. If a chart is like a trader’s Bible, the last thing you want to do is try to outsmart it!

When Yeshua came down from the mountain and stood on a level place in the sixth chapter of Luke, he asked the crowd, “Why do you call me ‘Lord, Lord,’ and not do what I tell you?” So rather than see yourself as being in competition with the market, you should seek to come into agreement with it. In the book of John Yeshua stated, “I…pray for…those who will believe in Me…that they also may be one in Us…”

So what constitutes listening to the market’s voice, doing only what you see the market doing, and being one with the market?

Well, begin by identifying where zones of significant support and resistance are located. You then need to follow clearly oscillating trend lines into these areas, and after they arrive, watch for signs of deceleration, possibly in the form of shrinking candlesticks or lower panel divergence, but preferably as signaled by the rolling over of carefully selected moving averages.

Your next step is to recognize the right time to buy coming out of dips constituting unjustified pessimism, or to sell coming out of rallies corresponding to unsustainable optimism, but even then, you should only do so if this series of events amounts to a pullback against the prevailing trend.

 

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...begin by identifying where zones of significant support and resistance are located...then...follow clearly oscillating trend lines into these areas, and after they arrive, watch for signs of deceleration...preferably as signaled by the rolling over of carefully selected moving averages. Your next step is to recognize the right time to buy coming out of dips constituting unjustified pessimism, or to sell coming out of rallies corresponding to unsustainable optimism, but even then, you should only do so if this series of events amounts to a pullback against the prevailing trend

 

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Acting on the assumption that the above thoughts are not completely off base, FSLR looks to have assumed a verified bullish sentiment today, and the same is true of RACE and GS.

At the open:

BABA gapped up into bullish territory as well, but RACE has now gapped down back into bearish country.

 

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RACE has now gapped down back into bearish country.

Forty minutes after the opening bell saw RACE complete a recovery back into bullish territory once again.

 

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SU turned bullish in the middle of the day, but that’s enough of that. I’m now satisfied that the modifications I’ve made to my five-minute Forex chart setup has resulted in a new setup that will work perfectly fine if and when I ever have opportunity to day trade equities.