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Net System went long Nasdaq 3/30/00 and remains so.Took signal at 4390 for 2
e-mimis and exited at 4542 with over-rapid run-up.Re-entered at 4350 per
previous support post and exited at 4395.Re-entered at 4270 and held
overnight and exited at 4374 on 3/31/00.
Posted S/R for 3/31/00 but did not go through on RT.No other trades than
exit trade since I was greedy looking for top support at 4220.I could have
bent at 4260 but did not.That run up from there to 4400 + looks good now.
I am a buyer on Monday at 4318 and 4202.I would consider 4388 which is close
to original entry.
I am a seller at possibly 4526 and definitely at 4596 and 4712.
Calculations based upon formula previously posted.As you know I have worked
on this a long time and Nasdaq is my market of choice for it.Just want to
share how I have been using it realtime and have nothing up my sleeve.Also I
average up and down as needed at the various levels and that is why the
e-mini works best for me.In my worst case I had to make 4 sells to get an in
toto winner.
I have traded a lot of stuff and made and lost money but S&R along with
sense of Nasdaq direction has made this an awesome quarter for me.It works
best with Nasdaq because it works best in high volatility and I do not know
any higher than Nasdaq 100.
Net System goes short the S&P on Monday [has not been as profitable as
Nasdaq but still respectable].
Also am making a variation on MSN Flare Out stocks and purchasing the 3
lowest priced ones in the top 25 for April.If there is a fall from grace the
trip to the floor will not be as bad.
Market is too choppy for me for other stock selections.
S&P day trading will resume Mon. per Mc Clellan Oscillater direction
verification.
Sincerely,
John
>From: Jpilleafe@xxxxxxx
>Reply-To: Jpilleafe@xxxxxxx
>To: <realtraders@xxxxxxxxxxxxxxx>
>Subject: [RT] NASDAQ Monday
>Date: Sat, 1 Apr 2000 19:43:04 EST
>
>I am open minded to a day or two of additional
>gains for NASDAQ. Note that Friday's reversal
>occured at about the 50 day moving average,..a
>support level which has consistently attracted
>buyers,....and also reflected similarly in the
>Investor Business Daily Mutual Fund Index chart
>(page A22 Monday's paper),..clearly depicts bounce
>at 50 day moving average. Other opinion I repsect
>includes that of Paul Cherney Standard and Poors
>Technical Analyst,...who comments that historic
>odds favor another day of gains for NASDAQ on Monday.
>I tend to agree with Paul Cherney and am open minded
>to higher prices both NASDAQ and S&P500 into Tues
>04-04 (New Moon) or Wedn 04-05.
>
>Regards, JIM Pilliod jpilleafe@xxxxxxx
>
>P.S. For anyone interested,...Paul Cherney's daily comment
>is posted free at the Business Week site:
>www.businessweek.com/today.htm once there,..
>under sidebar Market Info,..click on Market Views.
>Enjoy the weekend.
>
>
>
>
>
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