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--- In realtraders@xxxx, "Haytham Albizem" <H.Albizem@xxxx> wrote:
> 5/17/2001
>
> Today NASDAQ continue to go up, honestly I expected To go higher
than that so I asked my self why it did not perform as expected, below
is the answer:
>
> By looking back on daily bar chart, I find important resistance
level around the high of today although today bar give confirmation by
penetrating the high of yesterday I will not feel fully confident in
the move up until this resistance level is penetrated. Here is my
strategy for tomorrow:
>
> I would not care how the market will act until 10:30 am :-)
>
> If NASDAQ goes up breaking the resistance level then we will have
the final confirmation for the trend to go higher.
>
> If NASDAQ goes down failing to brake the resistance level, I will
exit my long position(hopefully with minimal profit)
>
> Anyway 5/18/2001 appear to be crucial day for final confirmation for
trend up or reversal down.
>
> Happy trading,
>
> Haytham
5/18/2001 2:15 pm
NASDAQ holding pretty good above the low of yesterday and above the
low of today. I am still holding my long position from 2 days ago.
No great buy or sell signal yet for me and if everything continue the
way it is I will stay long over the weekend.
I am more comfortable on the long side than the short side so far.
Happy trading :-)
Haytham
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