Swing trading Mr.Market's latest Top Five Picks

[spikefader]

R U T ROOOO! I'm in this one deep. Spike? Comments? Prayers?????

It's right at the 50% retrace of the start of the big move. Pretty good support expected, especially since it's got some nice volume by price support at current levels. Nice channel long today too - from the low in late October. Now is a good time to be buying.

[noshadyldy]

It's right at the 50% retrace of the start of the big move. Pretty good support expected, especially since it's got some nice volume by price support at current levels. Nice channel long today too - from the low in late October. Now is a good time to be buying.

Thanks Spike. I needed that.

[IIC]

R U T ROOOO! I'm in this one deep. Spike? Comments? Prayers?????

Shady...noticed your Goethe quote...reminds me of my fave poem from about 35 yrs ago..."Farewell to Hamburg"...Was that Goethe or Faust???...I can't seem to find it on the net...IIC

[RL]

Volume On Ngps

Spike looking good bought more.

[RL]

That Hurts

What happened OUCH

[yaoyao]

It's painful to watch my positions these days. Spike, do you miss your stops?

[spikefader]

It's painful to watch my positions these days. Spike, do you miss your stops?

I take it you mean do I miss my stops for this 50% retrace system? Of course not It ain't so bad. While MCRI, MPX and NGPS are underwater BSTE, CME, CWTR and ACRG are doing well enough ....

In any event, one has to have every expectation that downside could happen on this 50% entry system. Backtesting showed this happened often enough, but that for a statistically significant percentage of time, price turns up and plods on to it's target.

For my usual system in the other thread, I strongly urge the use of stops. For this one, stops don't seem to work well enough to employ them. So, all one has to do is set the size so one doesn't get stressed or upset when these stocks fluctuate.

Honestly, yaoyao, if it is painful watching, you are in too deep. Swim back toward shore a bit til you're not fearful. In otherwords, downsize my friend.

[jiesen]

Farewell (I'm not going anywhere though...)

Shady...noticed your Goethe quote...reminds me of my fave poem from about 35 yrs ago..."Farewell to Hamburg"...Was that Goethe or Faust???...I can't seem to find it on the net...IIC

Farewell

To break one's word is pleasure-fraught,

To do one's duty gives a smart;
While man, alas! will promise nought,

That is repugnant to his heart.

Using some magic strains of yore,

Thou lurest him, when scarcely calm,
On to sweet folly's fragile bark once more,

Renewing, doubling chance of harm.

Why seek to hide thyself from me?

Fly not my sight--be open then!
Known late or early it must be,

And here thou hast thy word again.

My duty is fulfill'd to-day,

No longer will I guard thee from surprise;
But, oh, forgive the friend who from thee turns away,

And to himself for refuge flies!


1797.




-THE END-
Johann Wolfgang von Goethe's poem: Farewell

http://www.google.com/search?hl=en&lr=&q=Farewell+Goethe&btnG=Search

great poem! a Google of "Goethe Farewell" does the trick...

[yaoyao]

I think you are right. I spend too much time watching my positions, and get nervous.

Besides 50% retrace line, do you still look at other technical signals? For example, MCRI dropped across 50MA in high volume. It should be a strong warning sign.

Thanks.

[diz]

I think you are right. I spend too much time watching my positions, and get nervous.

Besides 50% retrace line, do you still look at other technical signals? For example, MCRI dropped across 50MA in high volume. It should be a strong warning sign.

Thanks.

What I'm worried about is Monday morning when IBD100 reactions kick in and TZOO shoots up while NGPS takes a dive from moving down the list.

Anyone have a method of generating the IBD100 without waiting for it? Maybe a collection of criteria on msn stock screener... or even screener settings on IBD.

[spikefader]

Besides 50% retrace line, do you still look at other technical signals? For example, MCRI dropped across 50MA in high volume. It should be a strong warning sign. Thanks.

Always looking at stuff, and if it warrants to be genuinely concerned about the price movement, I'd be open to reconsidering whether a stop is necessary or whether full exit is prudent. As you can tell, this is early days with the 50% thing. I'm open to changes certainly, and it's in its infancy. Thus far I'm happy with the way it's working - especially considering I'm still not bearish on the market yet.

[noshadyldy]

to IIC

Shady...noticed your Goethe quote...reminds me of my fave poem from about 35 yrs ago..."Farewell to Hamburg"...Was that Goethe or Faust???...I can't seem to find it on the net...IIC

I see someone else beat me to the answer. But I'm confused on Faust. I always thought that Faust was a fictional character in a play written by Goethe.
Perhaps the Faust character is the one that orates the poem in the play.
But that's just conjecture.

(by the way, that's NO shady, ICC!)

[noshadyldy]

ngps

what do you think worst case scenario is regarding how low it can go?

[New-born baby]

ngps

Shady,

I am following ngps, too. I don't own any--yet. But I'll tell you what I am looking for. I am looking for the morning star. That's a good sign of a reversal pattern. If you are into candlestick charts, the doji star formation will indicate a strong reversal. And then I'll jump in.

Best investing to you in 2005.

[Runner]

I doubt anyone can say where NGPS is going. This market has been plain ugly. Maybe institutions will jump in off the 50dma? But who knows, we need a little help next week maybe we will see the shorts begin to cover and give us a little rally?