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Attached is ONSL. Not much to say about YHOO. I was pre-occupied with
Jarvis in the morning and would of covered around 50. I am in at 52. It
has since gone to 54+ and has come down a bit. I am still in at 52 (only
50 shares). I'll figure something out to make sure I don't lose any
money. It should come down though. I think the strong NASDAQ market on
Thursday pushed it higher than it would of otherwise gone.
ONSL. I placed a half oval around the days I was out. Not to happy about
that. SO on Friday the first up day with the arrow underneath I said I
was going to go in just to be on the safe side. (Short of course at 18
15/16.) After making money for the first time the previous weeks I was a
little bit buzzed. Then the week when I didn't make much money I felt I
was out of the market. (Plus I realized that I missed about a grand in
terms of missed opportunity. So it kind of stung a bit.) Some things
here as far as schedules and timing effected this some but there will
always be those things so no excuse there.
On the chart you can see it moved up again (up arrow, 1st day up). On
the third day I took another position at 19 15/16. Average cost 19 7/16.
Since most of the oscillators are toast I relied on JF, superposition
stochastic, the trend (note how it is following a straight line down the
last few days.)
I learned that the superposition stochastic will make a big move. 5 to 9
points. So it can go from neg. to pos very fast. Once there you are in a
safe zone for the day. Unless it is right at a zero rate of change
between pos & neg. Then it is like being on the fence. But other
indicators help, JF, daily, stochastics2,2.
I have learned that the market makers play games with the individual
investor as well as with each other. On one of the days. There was a
block trade that went through 100,000 shares. There had been massive
selling earlier, then some one came in and did some buying, lots of it
and then this large block. Would you believe that the price went no
where that day.
Anyway I covered today at 18 1/4, since I wanted to take some profits. I
immediately took another position short at 18 1/4. Just in case it falls
further on Monday. I want some thing in the market. If it goes up on
Monday and looks like there might me a pop on Tuesday I'll go long ONSL
in the other account. I want to try to capture as much price
appreciation as possible. Be it up or down.
I also learned that the trading is boring on the backside of a rocket.
But profitable.
Another thing I learned is that I have to pay attention to the daily
range. If it shoots up 2 points in the first hour and the daily range
high to low is around 2 points. Then I need to take up a short position
after the 2 point move. True it could go up 4, but I have seen that if
it starts to drift lower just a little then it usually will drop. So for
me, if on average it only goes up two points then I need to take up the
position.
One other thing I think really makes sense to follow a stock for a long
time. You get to know the players as they come and go. It makes it
easier.
Harley
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