MTM's Charts to watch

[mtm]

Hi MTM,

Any comments on the EBAY chart?

I am thinking that it should bounce from the $32.50 - $33 level and could revisit $36

If she is to bounce you have the numbers right on as I see them.

[mtm]

Please forgive me if this offends you, but I thought I'd throw a chart up here
and see how the expert, MTM, compares with my view.
THE WEEKLY:

I am looking at a possible double bottom for EBAY. If that happens, it is
great news for you. That would target the $45 range.

THE DAILY:

Post all you like.

Sorry I have'nt been around that much for I'm catching up on alot of things this time of the year. (summer duldrums)

Your scenario is possible, but I would less likely be prone to take a long on EBAY if it closed under $33. $32.50 would be the lowest I would consider, which it would need increase volume showing a nice reversal candle.

This is the support area I would like to see hold.

The green line was the last reversal to the upside reading back into the chart.
If it is to bounce at the green line I would feel a whole lot better being long than a double bottom test.

You and Runner both posted highly possible scenarios though.

I like to wait for that reversal signal then analyse the situtation though.

[mtm]

Watch in the moring to see what happens. I would like to see them come in and sell right off the bat and half it bounce and hit the days highs on volume. You can always use the 60 minute chart for an early entry, but make sure you see what the NASD is doing and the sector.

[New-born baby]

Very helpful

MTM--
My opinion is that putting my post, Runner's and your's together has been very helpful--to me at least, and I am hoping for all the lurkers out there. Thank you for posting your possible strategy. I'd like to do it again and again to sharpen my trading, charting and strategy planning.

[Runner]

Not an expert on this but trying to use price/time to determine where a move is likely to happen. The chart shows the simple formula. I have not used this before and so I’m just learning about this. This is the time I come up with EBAY. Note how the N9 was a nice move down. All this does is warns of a possible move. The direction is not known, but based off the Bull/Bear tasks you can see where it is most likley to move.

[mtm]

Today's price action in Ebay was very disappointing with the market up like that. These Internet stocks did not want to participate today. (excluding GOOG)

[mystiky]

EBAY now really oversold...

Well, it looks like 33 did not hold (closed at 32.90).

The RSI is now 29.2, and I am really tempted to enter it if we see it near 32.60.

Seems like the while internet "bluechips" have been sold pretty badly since last week (YHOO, EBAY, AMZN).... of course GOOG is also finally being tagged.

What I think has been happening is funds are getting rid of YHOO and EBAY and AMZN so they dont show up as their holdings as of June 30 (2Q and first half year).

Come July 1, they should start bouncing...

[mtm]

That its a good way to look at them. The truth should show itself next week.

Thanks for the insight!

[skiracer]

They're going to be rebalancing their portfolios for 2nd qtr. 2005 and half year 2005 so watchout anything could happen by 6/30.

[mtm]

They're going to be rebalancing their portfolios for 2nd qtr. 2005 and half year 2005 so watchout anything could happen by 6/30.

Holiday weekend, packing it up and will be back to tango on 7/5. There is no need to play this market with all that is going on, going into the weekend.

Happy 4th of July everyone!

[B.J]

Happy 4th of July everyone!

Back at you MTM, and everyone else here, as well.

[mtm]

We are almost finished with the ultimate day-trader tool!!! The results are elite!

Back at you B.J.

[Runner]

MTM what the D/T tool?

[skiracer]

MTM,
When will you let us see it?

[mtm]

MTM what the D/T tool?

The tool is designed for the Esignal Platform, but it returns results far beyond our expectations!

We have just started posting example charts under the forum " ESIGNAL EFS" on our site.

The tool is for day-traders using a 5 minute interval or less.