What I’m Looking For To Happen

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October 17, 2008

Again I’ve been wrong with my bigger trade and I’ve said it nearly everyday.

Today’s day trade for UWM was good for 1.9%, there was more in that trade, alot more, but I was distracted all day.

What I’m looking for this week to happen is a test of the 21 d ema.

In many down moves in the NDX, COMPX, SPX, whatever, you get a test of the 21d ema at some point. You can argue that we just got one and I’d agree we did. However, most of the time it comes on a closing candle ie GREEN. Not some intraweek bs. So the big picture is saying a rally should occur very soon if not already underway. Remember on a week over week basis we closed up. Now the daily timeframe is saying a bounce should happen as well.

That is what I’m looking for and I can be wrong. I will be loading the boat with plays from the cheap stocks list though next week.


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  • http://www.firecreeksystems.com stocks

    After monday's gain, I was thinking that we were back on a rally, but I think for the week, it fell pretty flat on its face.
    I will say that we should see some significant growth next week, breaking the 10,000 mark once again, but don't hold me to that.

  • http://www.stockrake.com StockRake

    It should happen soon, or history will not repeat itself and something bigger out there is on the table.

    Jim Cramer on The Big Idea was downright depressing.

  • http://www.firecreeksystems.com stocks

    After monday's gain, I was thinking that we were back on a rally, but I think for the week, it fell pretty flat on its face.
    I will say that we should see some significant growth next week, breaking the 10,000 mark once again, but don't hold me to that.

  • http://www.stockrake.com StockRake

    It should happen soon, or history will not repeat itself and something bigger out there is on the table.

    Jim Cramer on The Big Idea was downright depressing.