Nice month coming to an end
We did not have much to trade during most of the month. Towards the end, we had a great run in TSTC(almmost 40%) and some nice setups in VMW, BIDU,MELI, IGTE, IDSA, RBCN, WYNN, LVS and TRW.
Couple of days back we said that the market looks little extended and we will wait for a pullback to open positions in the above mentioned stocks. In the last two days, we got that pullback and we opened/added positions in VMW,BIDU, TRW, RBCN and MELI today.
We are waiting for WYNN , LVS and IDSA to break out.
Overall, the market acted very well today and it might be setting itself for a breakout above the 200 day.
Mallik,
The best way to make money is to wait patiently for the Market to go into the “green clouds”.
Stockcharts.com
Go to “Overlays”
Click “ichimoku Clouds”.
$INDU is OK already.
The “cloud” has turned green.
Just wait for $COMPQ and $SPX “clouds” to turn green also.
That is the best way.
It never fails!
Just be patient and ignore the false “breakouts”.
Mark
not seeing ichimoku clouds as an option on the free stockcharts. am i missing it some how?
patience is golden. no top tick, no bottom tick either.
Jeff,
Go to Stockcharts.com.
Type symbol $COMPQ, $SPX or $INDU in the Symbol box.
Click “Go”.
Below the chart in the section “Overlays” click on the bar “-None-”.
The fifth choice from the bottom is “Ichimoku Clouds”.
Chose it and click “Update”.
You are in the Clouds now!
Mark
In the daily timeframe it looks good for short term trading, but in the weekly, it would have left everyone out of the huge rally in the Spring of 09.
@John
John,
I know it is a little bit confusing the first time when you look at it but “the clouds” are moved to the right side of the chart so they do not cover the other data and keep the chart from being too crowded.
You would not miss the rally in the spring of 2009.
The green clud started to appear together with this rally just on time .
Just the image of the cloud is moved to the right and appears not to be correlated.
Mark
need to do some reading on these clouds, but thanks for the follow up.