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--- In realtraders@xxxx, H.Albizem@xxxx wrote:
> --- 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
5/18/2001 3:50 pm eastern
Go up NASDAQ Go up (Net +0.45 for NASDAQ now)
I will keep my long position over the weekend, NASDAQ acting in good
way, no great penetration of the resistance level but no reversal
also. NASDAQ behavior around the close favoring continuation of the
trend up on Monday.
Happy trading :-)
Haytham
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