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Both the SPY and NDXX popped at the opening "as overseas traders
scramble to cover the big name shorts." This is the power of reading
real-time commentaries for it allowed subscribers to purchased AAPL
before yesterday's close. For now, with the SPY stalling at its 149.00
resistance line, expect the NDX.X to trade in a sloppy and mixed
fashion. Which is to say, tech prices should wait for its decending
midpoints instead of them going up to meet these midpoints.
Bingo! Like we were harping on Tuesday that "since the world markets
also have to cover their shorts," the "easy money" came to both "Day
Trader" and "Swing Trader" with Wednesday's strong opening. The former
sold AAPL at opening prices of 177.00 for a quick and painless gain
of $7.10 while the latter took home its profits. Kudos to those that
had the "conviction and confidence" to enter the trades with us
during this market turmoil!
***Via special email update 9:31am*** "Swing Trader" was sold at 51.00 for a nice profit of 1.36. Easy trade as he entered at stretched TFTF levels and was stopped out at an even "risk and reward ratio" on a "pop and drop" pattern. [3:30pm November 14, 2007]
Broad market index SPY reached our first resistance of 149.00 and never really went above this point for any extended time frame. Seen below is how it should "go back down" to either test Monday's lows or worst, resume the downward trend by tracing a new down-leg. Noted is how the 149.00 level is a strong resistance level as the 200-day moving average also hovers close by at 148.47. 
Tech and bio-tech index NDX.X never made it to its midpoints and illustrated below is how it closed near the 2032.00. Not a good showing and with a slew of techs like AAPL and BIDU that reversed right off their midpoints, lower prices for the index are not unexpected. 
No strong trades for "Day Trader" and he nevers wants to "force" a trade because he has to. Shown below is how our midpoint theory performed well with AAPL as that was the precise point where selling came in. 
D A I L Y - F O R M A T Real-time stock selections, trades, and commentaries are updated between 3:15pm to 3:45pm Monday to Friday. Index analysis, "Spec Eye," and "Swing Trader" chart discussions will follow immediately after the close and should be posted towards 9:30pm. This format is for optimal stock entry as the setups that are seen towards the close are usually firm and can follow through for the next trading day.
Noted is that "Day Trader" and "Swing Trader" are our in-house
"high-risk" traders to show subscribers speculative day and swing
trades that we follow. Please be aware that "Day Trader" is usually
a same-day position swing trader and not a daytrader who scalps
pennies and nickels. Trade setups for "Day Trader" are good till
2:00pm EDT as the day draws to a close while "Swing Trader" will
end his setups at 3:00pm EDT for similar reasons.
T R A D E - S U M M A R Y No positions
W E E K ' S - R E C A P Nov 12 Buy QQQQ @ $49.64 ...... Sell @ 51.00 (profit taken)
D E F I N I T I O N S
HVD: High Volume Day
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