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Post by TradingForGod on Aug 12, 2004 19:47:25 GMT -5
WRT to GPS: I took a quick look at the chart since the big low back in 4Q02. It looks to me like it has had a 5-wave bullish advance peaking earler this year. We are now working an ABC correction lower. Based on the swings since the high and the Fibonacci retracements I'd say the most likely stoppping point is either 18.50 or just over $15. Weekly momentum is very negative right now so you probably have some time to buy.
I can't seem to figure out how to post charts from the web or I would try to point it out on a chart. If you look at a 2-year bar chart you may be able to see it anyway.
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Post by TradingForGod on Aug 12, 2004 19:47:25 GMT -5
WRT to GPS: I took a quick look at the chart since the big low back in 4Q02. It looks to me like it has had a 5-wave bullish advance peaking earler this year. We are now working an ABC correction lower. Based on the swings since the high and the Fibonacci retracements I'd say the most likely stoppping point is either 18.50 or just over $15. Weekly momentum is very negative right now so you probably have some time to buy.
I can't seem to figure out how to post charts from the web or I would try to point it out on a chart. If you look at a 2-year bar chart you may be able to see it anyway.
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Post by TradingForGod on Aug 12, 2004 13:30:22 GMT -5
Hi Everyone. Today begins a series of columns on the basics of technical analysis. When I say basics, I mean just that. For some of you this will probably be worth very little, but for others it will at least expose you to some of the key principles of this approach. Comments and suggestions are welcome. The earliest technical analysis that I am aware of comes from the 1600s when Japanese rice traders graphed the daily price changes of “empty rice” (rice futures) using what we now call “candlestick charts”. This is similar to the “open, high, low, close” charts we usually see today, except that the range between the open and the close is expanded so that you can see it better. Look at the Microsoft chart below (we’ll be using this same chart to talk about the various technical indicators I look at). You can see that some of the bars are filled in and some are not. The filled bars represent days when the closing price is below the opening price (bearish). The empty bars represent days when the closing price is above the opening price (bullish). The extensions above and below the fat “real body” of the bar are called “shadows”. These extensions identify the high and low of the day. I actually like candlestick charts better that OHLC charts because the quickly give you a little more information. At a glance you can tell if it’s an up or a down day. But that’s just a matter of personal preference. There are tons of bar formations that the Japanese came up with to analyze the charts. Remember, there were no moving averages or other math based indicators back then. They only have visual references. These formations have names like doji stars, dark cloud cover, and hanging man. Some represent consolidations, some are bullish, and some are bearish. As we go on I may occasionally use one of these formation names. If so, I’ll briefly describe their meanings and interpretations. For now, just know that they represent the earliest attempt to make sense of market price action. Until the turn of the 20th century, not much progress was made in technical market analysis. People had to graph charts by hand, which was very cumbersome, and there wasn’t a lot of need for analysis because there wasn’t a lot of trading. But as stock trading became more and more important, people began to use things like trendlines and very basic moving averages (MAs for short). Again, since there were no computers or calculators any math based analysis had to be done by hand, so it took a lot of effort. Almost all analysis at that time was still graphical. The MSFT chart shows a couple of basic trendlines. They are easy to draw. You just connect the lowest lows or the highest highs. They should act as support and resistance respectively. The more touch points on the trendline, the more significant it becomes. On this chart, notice the number of times the low of the day in mid-May was captured by the trendline. Also notice how this trendline has now been violated. That’s potentially pretty bearish. By convention, I use green line for support and red lines for resistance, but again that’s just a personal choice. In the late 19th century, Charles Dow (of the Industrial Average fame) started doing work on repeating patterns he noticed on stock charts. In the 1930s, R.N. Elliott picked up where Dow left off. As I recall, he became very ill and was bed-ridden for a long time. So he started looking at charts of stocks, hundreds of them, and found the same kind of repeating pattern that Dow did. Over time he codified a set of “principles” that he thought governed price motions. He saw price action as a series of “waves”. His work became know as the Elliot Wave Principle. There are whole books written about this subject, but I will give you the bare bones overview here. He saw market action divided into a series of impulsive and corrective moves. If the market is in an uptrend, the impulsive moves are higher (duh!). If the market is in a downtrend, the reverse is true. Obviously, the corrective moves are counter to the main trend. He believed that all (actually, most) impulsive moves consist of five components, or waves. Three of them were in the direction of the main trend, and two were counter-trend. He labeled these segments 1 through 5. The corrective moves consist of three waves. Two are in the main direction of the correction, with the middle one going the opposite way. He labeled these segments A, B, and C. I know that may seem a bit confusing, but let’s look at it on the MSFT chart below. Hopefully you can see the wave action here. There are some pretty hard and fast rules for interpreting the charts, BUT I think the main drawback of Elliott Wave is that there are always at least two ways of interpreting the data, bullish and bearish, and in some cases many more. There are some people who use EW almost exclusively. I am not one of them. I think it is very valuable in identifying the possibilities, but you need other analysis techniques to decide which of the possibilities is most likely. Here are a few of the basic rules: 1) Impulsive moves consist of five waves. Corrective moves are three waves. 2) Waves can be sub-divided into progressively smaller waves within waves. In modern terms this means that market action has “fractal” characteristics…never mind what that means. 3) The “1” and “5” waves are usually, but not always, about the same length. The “3” wave usually extends beyond the “1” wave length by some ratio of the Fibonacci sequence. We’ll talk about what Fibonacci numbers are in the next column. 4) The “A” and “C” waves are usually about the same length. 5) The “2”, “4” and “B” waves correct a portion of the previous advance by some ratio of the Fibonacci sequence, usually either 38% of 62% of the prior move. Whew, that’s a REALLY brief overview. For those who want a more detailed explanation of EW, there are plenty of online resources that you can look at. My purpose here was just to introduce the concept and terminology so that later on when I say, “This A-B-C correction has retraced 38% of the previous advance” you will know what I mean. Clear as mud? Tomorrow I will talk about the Fibonacci number sequence. It is a fascinating subject, and truly shows the divine order threaded throughout the world we live in. It also shows up A LOT in trading patterns. Until then…<br> God bless you all, TradingForGod
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Post by TradingForGod on Aug 12, 2004 13:30:22 GMT -5
Hi Everyone. Today begins a series of columns on the basics of technical analysis. When I say basics, I mean just that. For some of you this will probably be worth very little, but for others it will at least expose you to some of the key principles of this approach. Comments and suggestions are welcome. The earliest technical analysis that I am aware of comes from the 1600s when Japanese rice traders graphed the daily price changes of “empty rice” (rice futures) using what we now call “candlestick charts”. This is similar to the “open, high, low, close” charts we usually see today, except that the range between the open and the close is expanded so that you can see it better. Look at the Microsoft chart below (we’ll be using this same chart to talk about the various technical indicators I look at). You can see that some of the bars are filled in and some are not. The filled bars represent days when the closing price is below the opening price (bearish). The empty bars represent days when the closing price is above the opening price (bullish). The extensions above and below the fat “real body” of the bar are called “shadows”. These extensions identify the high and low of the day. I actually like candlestick charts better that OHLC charts because the quickly give you a little more information. At a glance you can tell if it’s an up or a down day. But that’s just a matter of personal preference. There are tons of bar formations that the Japanese came up with to analyze the charts. Remember, there were no moving averages or other math based indicators back then. They only have visual references. These formations have names like doji stars, dark cloud cover, and hanging man. Some represent consolidations, some are bullish, and some are bearish. As we go on I may occasionally use one of these formation names. If so, I’ll briefly describe their meanings and interpretations. For now, just know that they represent the earliest attempt to make sense of market price action. Until the turn of the 20th century, not much progress was made in technical market analysis. People had to graph charts by hand, which was very cumbersome, and there wasn’t a lot of need for analysis because there wasn’t a lot of trading. But as stock trading became more and more important, people began to use things like trendlines and very basic moving averages (MAs for short). Again, since there were no computers or calculators any math based analysis had to be done by hand, so it took a lot of effort. Almost all analysis at that time was still graphical. The MSFT chart shows a couple of basic trendlines. They are easy to draw. You just connect the lowest lows or the highest highs. They should act as support and resistance respectively. The more touch points on the trendline, the more significant it becomes. On this chart, notice the number of times the low of the day in mid-May was captured by the trendline. Also notice how this trendline has now been violated. That’s potentially pretty bearish. By convention, I use green line for support and red lines for resistance, but again that’s just a personal choice. In the late 19th century, Charles Dow (of the Industrial Average fame) started doing work on repeating patterns he noticed on stock charts. In the 1930s, R.N. Elliott picked up where Dow left off. As I recall, he became very ill and was bed-ridden for a long time. So he started looking at charts of stocks, hundreds of them, and found the same kind of repeating pattern that Dow did. Over time he codified a set of “principles” that he thought governed price motions. He saw price action as a series of “waves”. His work became know as the Elliot Wave Principle. There are whole books written about this subject, but I will give you the bare bones overview here. He saw market action divided into a series of impulsive and corrective moves. If the market is in an uptrend, the impulsive moves are higher (duh!). If the market is in a downtrend, the reverse is true. Obviously, the corrective moves are counter to the main trend. He believed that all (actually, most) impulsive moves consist of five components, or waves. Three of them were in the direction of the main trend, and two were counter-trend. He labeled these segments 1 through 5. The corrective moves consist of three waves. Two are in the main direction of the correction, with the middle one going the opposite way. He labeled these segments A, B, and C. I know that may seem a bit confusing, but let’s look at it on the MSFT chart below. Hopefully you can see the wave action here. There are some pretty hard and fast rules for interpreting the charts, BUT I think the main drawback of Elliott Wave is that there are always at least two ways of interpreting the data, bullish and bearish, and in some cases many more. There are some people who use EW almost exclusively. I am not one of them. I think it is very valuable in identifying the possibilities, but you need other analysis techniques to decide which of the possibilities is most likely. Here are a few of the basic rules: 1) Impulsive moves consist of five waves. Corrective moves are three waves. 2) Waves can be sub-divided into progressively smaller waves within waves. In modern terms this means that market action has “fractal” characteristics…never mind what that means. 3) The “1” and “5” waves are usually, but not always, about the same length. The “3” wave usually extends beyond the “1” wave length by some ratio of the Fibonacci sequence. We’ll talk about what Fibonacci numbers are in the next column. 4) The “A” and “C” waves are usually about the same length. 5) The “2”, “4” and “B” waves correct a portion of the previous advance by some ratio of the Fibonacci sequence, usually either 38% of 62% of the prior move. Whew, that’s a REALLY brief overview. For those who want a more detailed explanation of EW, there are plenty of online resources that you can look at. My purpose here was just to introduce the concept and terminology so that later on when I say, “This A-B-C correction has retraced 38% of the previous advance” you will know what I mean. Clear as mud? Tomorrow I will talk about the Fibonacci number sequence. It is a fascinating subject, and truly shows the divine order threaded throughout the world we live in. It also shows up A LOT in trading patterns. Until then…<br> God bless you all, TradingForGod
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Post by TradingForGod on Aug 11, 2004 20:09:18 GMT -5
Hi, Everyone. My name is Randy, but I go by the nickname TradingForGod. I’m really happy to be contributing to the Christian Traders website. I hope that you’ll find the thoughts and ideas expressed here helpful as you make your trading decisions. I want to use this first column to share a little about myself, and why I have such a passion for trading, and technical analysis in particular. In the next several columns, I’ll talk about the basics of technical analysis and describe in a little detail the main things that I watch to develop a market point-of-view. After that, it’s wide open. My plan right now is to do a rotation of analyses. One day I’ll talk about stock indexes, the next energy commodities, then currencies/bonds, etc. I know that most, if not all, of you trade primarily stocks so the major focus will be on the financial markets. If you have questions about individual stocks, I’ll try to give you a technical overview, but I’ll only be able to do that on a few stocks each week so I as for your patience if I don’t get to a particular question right away.
Okay, so much for the preliminaries. Let me tell you a little about myself. I have worked in the oil and gas industry for over 20 years, and have been involved in commodities trading for the last 12 years. I became the natural gas futures and options trader for a major oil company in 1992 almost by accident. But I found I really enjoyed trading and have done it ever since. About 15 months ago I quit my job to try and start a philanthropic foundation (Trading for God) that would make money trading the markets and then give it away to fund evangelical missions and humanitarian causes. It’s a dream that I have had for many years, almost since I first started trading. I originally thought that I would just join an existing organization doing this kind of work. I sure didn’t want to try and start it on my own. But there really isn’t a group like this that I have found, so after a lot of prayer I stepped out and tried it on my own. Unfortunately, it hasn’t worked out as I had hoped, so I am in the process of going back into the corporate work force. But the dream still lives, and who knows how God will use it down the line.
When I first started trading, I came from a very strong “fundamental analysis” background. My previous job had been long term corporate planning, and my group analyzed the natural gas market fundamentals to come up with a long term price forecast for capital budgets, etc. I tried to use these same analytical methods to trade natgas futures, but was not very successful. Almost as a defensive action I taught myself technical analysis be reading books. To be honest, I went into it thinking that technical analysis is “voodoo”. The idea that future price action can be predicted with any accuracy based on past price action seemed ridiculous to me.
BUT GUESS WHAT? As I began to apply the analysis principles I was learning to my trading, my results improved dramatically. I was shocked. I didn’t understand it, and I still didn’t quite believe it. But the results were indisputable. Over time I gradually became a purely technical trader. I found that when my technical view was opposed to my fundamental view, the technicals almost always won out. It may have been that I was just a lousy fundamental trader. ;D But I have come to believe that technicals really do work.
You may ask (I certainly did), WHY do technicals work. I’ll give you several potential answers to that question.
Answer#1: It’s a self fulfilling prophecy. If enough people watch the technicals and trade off them, they will make what the technicals show is going to happen, happen by default.
That’s a commonly held belief, even among some technical analysts and traders. But I think it is totally wrong. To begin with, someone had to discover the various technical methods in the first place and determine that they were worth watching. The man who thought of trendlines didn’t know that trendlines worked until he tried them. At that point, there was no mass following of people looking at a particular trendline, so there was no “herd mentality” to fulfill the self-fulfilling prophecy. Also, I can tell you that no two technicians looking at the same charts come up with exactly the same interpretation. It’s kind of like reading the Bible. You can have 10 people read a passage and come up with 10 slightly, or greatly, different interpretations of what it means. Analyzing charts work the same way. There is a lot of commonality, but not unanimity. Certainly not enough “group think” to make a difference.
Answer #2: Technical analysis measures the total market psychology at any given moment. People’s actions based on their understanding of supply and demand, and the psychological drivers of fear and greed, repeat over and over. Technical analysis provides a picture of those repeating patterns.
This is much closer to the truth. “The Market” is the sum total of everyone’s opinions about supply and demand based on their own understanding of market drivers. {That makes sense, doesn’t it?} So at any given time the market price reflects “the market’s” assessment of fair value based on known supply and demand information. No one has all the information, but collectively “the market” has almost all the knowledge. As new knowledge is gained by market participants, the supply/demand balance changes and price changes accordingly. {Still makes sense.} For example, let’s say that crude oil is trading at $40 and the market is in balance. A trader from a big oil company gets a call from his production department saying that a major offshore platform has gone down and he needs to buy oil on the open market to supply the company’s refinery. That’s a change in supply/demand…less crude is being produced. The trader takes an action based upon this change…he buys crude oil on the open market. As a result of his actions, the market price changes…it goes up. As a result of prices going up, another trader who thought the market price was too high and had sold short, gets stopped out. He has to buy back a large position which makes prices go up even more. But when he finished his buying prices are then too high to be sustained and someone else sells crude as a result. Crude oil prices fall back a little bit.
Up and down, up and down. Over and over again. There are thousands of decisions, big and little, made by people every day that alter the supply/demand picture, and therefore price, of everything that is bought and sold. It’s impossible to keep track of all off these decisions, much less model them in a meaningful way. BUT, we can observe the effect these decisions have on price action and make educated guesses about how those actions will affect things in the future. That’s what technical analysis tries to do.
Answer #3: There is something bigger going on.
I would not necessarily say this to a general audience, but since this is a Christian trading site I’ll put forward this notion and let you decide what you believe. I think that there is a creative order to the universe. Our Creator set up the universe with immutable forces that govern everything from the motions of the planets and stars to the way that DNA replicates itself in the nucleus of a cell. We can observe a lot of those forces, and even measure them, like gravity. But there is a whole lot more that we DON”T understand. Part of that, I think, is the way that markets act over time. I think that there are forces that we cannot begin to understand that work to shape the market action in the same way that the moons revolution affects the ebb and flow of the tides. I’m not saying that God makes the price of Microsoft fall by direct intervention. Maybe He does, but I’ll let Him speak for Himself. I am saying that His creative order permeates the very fabric of our lives, and that includes the way the markets work.
Technical analysis can, I believe, give us glimpses into this Divine creative order. We are human, of course, and our minds cannot comprehend it all. We see “as through a glass, darkly”. But occasionally the image is not so dark. Sometimes when things are really going well I can almost see the bars appear on the chart before they actually show up. It’s like seeing just over the edge of the horizon. At those times, I feel closer to God than at just about any other time. It is really, really powerful.
THAT is why I love technical analysis. I think it is a way that God can reveal Himself to those that are willing to look. That being said, you don’t have to believe that yourself to read this column. This isn’t going to be a metaphysical treatise. I will try to provide clear, concise comments about key technical indicators. Over the next several days we’ll talk a little bit about those indicators, what they are and what they are supposed to measure, so that we can have a common vocabulary for our conversations together.
One last preliminary…the normal disclaimer type statements. I am not a registered commodity trade advisor. I am just a regular guy putting forth his own ideas. Use the information and recommendations at your own risk. Nothing here should be construed as a solicitation to buy or sell anything. There is a substantial risk of loss from trading activities. All recommendations are low in carbohydrates and high in polyunsaturated fats.
I hope you find this column helpful. God bless each of you as you pursue His will for your lives.
TradingForGod
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Post by TradingForGod on Aug 11, 2004 20:09:18 GMT -5
Hi, Everyone. My name is Randy, but I go by the nickname TradingForGod. I’m really happy to be contributing to the Christian Traders website. I hope that you’ll find the thoughts and ideas expressed here helpful as you make your trading decisions. I want to use this first column to share a little about myself, and why I have such a passion for trading, and technical analysis in particular. In the next several columns, I’ll talk about the basics of technical analysis and describe in a little detail the main things that I watch to develop a market point-of-view. After that, it’s wide open. My plan right now is to do a rotation of analyses. One day I’ll talk about stock indexes, the next energy commodities, then currencies/bonds, etc. I know that most, if not all, of you trade primarily stocks so the major focus will be on the financial markets. If you have questions about individual stocks, I’ll try to give you a technical overview, but I’ll only be able to do that on a few stocks each week so I as for your patience if I don’t get to a particular question right away.
Okay, so much for the preliminaries. Let me tell you a little about myself. I have worked in the oil and gas industry for over 20 years, and have been involved in commodities trading for the last 12 years. I became the natural gas futures and options trader for a major oil company in 1992 almost by accident. But I found I really enjoyed trading and have done it ever since. About 15 months ago I quit my job to try and start a philanthropic foundation (Trading for God) that would make money trading the markets and then give it away to fund evangelical missions and humanitarian causes. It’s a dream that I have had for many years, almost since I first started trading. I originally thought that I would just join an existing organization doing this kind of work. I sure didn’t want to try and start it on my own. But there really isn’t a group like this that I have found, so after a lot of prayer I stepped out and tried it on my own. Unfortunately, it hasn’t worked out as I had hoped, so I am in the process of going back into the corporate work force. But the dream still lives, and who knows how God will use it down the line.
When I first started trading, I came from a very strong “fundamental analysis” background. My previous job had been long term corporate planning, and my group analyzed the natural gas market fundamentals to come up with a long term price forecast for capital budgets, etc. I tried to use these same analytical methods to trade natgas futures, but was not very successful. Almost as a defensive action I taught myself technical analysis be reading books. To be honest, I went into it thinking that technical analysis is “voodoo”. The idea that future price action can be predicted with any accuracy based on past price action seemed ridiculous to me.
BUT GUESS WHAT? As I began to apply the analysis principles I was learning to my trading, my results improved dramatically. I was shocked. I didn’t understand it, and I still didn’t quite believe it. But the results were indisputable. Over time I gradually became a purely technical trader. I found that when my technical view was opposed to my fundamental view, the technicals almost always won out. It may have been that I was just a lousy fundamental trader. ;D But I have come to believe that technicals really do work.
You may ask (I certainly did), WHY do technicals work. I’ll give you several potential answers to that question.
Answer#1: It’s a self fulfilling prophecy. If enough people watch the technicals and trade off them, they will make what the technicals show is going to happen, happen by default.
That’s a commonly held belief, even among some technical analysts and traders. But I think it is totally wrong. To begin with, someone had to discover the various technical methods in the first place and determine that they were worth watching. The man who thought of trendlines didn’t know that trendlines worked until he tried them. At that point, there was no mass following of people looking at a particular trendline, so there was no “herd mentality” to fulfill the self-fulfilling prophecy. Also, I can tell you that no two technicians looking at the same charts come up with exactly the same interpretation. It’s kind of like reading the Bible. You can have 10 people read a passage and come up with 10 slightly, or greatly, different interpretations of what it means. Analyzing charts work the same way. There is a lot of commonality, but not unanimity. Certainly not enough “group think” to make a difference.
Answer #2: Technical analysis measures the total market psychology at any given moment. People’s actions based on their understanding of supply and demand, and the psychological drivers of fear and greed, repeat over and over. Technical analysis provides a picture of those repeating patterns.
This is much closer to the truth. “The Market” is the sum total of everyone’s opinions about supply and demand based on their own understanding of market drivers. {That makes sense, doesn’t it?} So at any given time the market price reflects “the market’s” assessment of fair value based on known supply and demand information. No one has all the information, but collectively “the market” has almost all the knowledge. As new knowledge is gained by market participants, the supply/demand balance changes and price changes accordingly. {Still makes sense.} For example, let’s say that crude oil is trading at $40 and the market is in balance. A trader from a big oil company gets a call from his production department saying that a major offshore platform has gone down and he needs to buy oil on the open market to supply the company’s refinery. That’s a change in supply/demand…less crude is being produced. The trader takes an action based upon this change…he buys crude oil on the open market. As a result of his actions, the market price changes…it goes up. As a result of prices going up, another trader who thought the market price was too high and had sold short, gets stopped out. He has to buy back a large position which makes prices go up even more. But when he finished his buying prices are then too high to be sustained and someone else sells crude as a result. Crude oil prices fall back a little bit.
Up and down, up and down. Over and over again. There are thousands of decisions, big and little, made by people every day that alter the supply/demand picture, and therefore price, of everything that is bought and sold. It’s impossible to keep track of all off these decisions, much less model them in a meaningful way. BUT, we can observe the effect these decisions have on price action and make educated guesses about how those actions will affect things in the future. That’s what technical analysis tries to do.
Answer #3: There is something bigger going on.
I would not necessarily say this to a general audience, but since this is a Christian trading site I’ll put forward this notion and let you decide what you believe. I think that there is a creative order to the universe. Our Creator set up the universe with immutable forces that govern everything from the motions of the planets and stars to the way that DNA replicates itself in the nucleus of a cell. We can observe a lot of those forces, and even measure them, like gravity. But there is a whole lot more that we DON”T understand. Part of that, I think, is the way that markets act over time. I think that there are forces that we cannot begin to understand that work to shape the market action in the same way that the moons revolution affects the ebb and flow of the tides. I’m not saying that God makes the price of Microsoft fall by direct intervention. Maybe He does, but I’ll let Him speak for Himself. I am saying that His creative order permeates the very fabric of our lives, and that includes the way the markets work.
Technical analysis can, I believe, give us glimpses into this Divine creative order. We are human, of course, and our minds cannot comprehend it all. We see “as through a glass, darkly”. But occasionally the image is not so dark. Sometimes when things are really going well I can almost see the bars appear on the chart before they actually show up. It’s like seeing just over the edge of the horizon. At those times, I feel closer to God than at just about any other time. It is really, really powerful.
THAT is why I love technical analysis. I think it is a way that God can reveal Himself to those that are willing to look. That being said, you don’t have to believe that yourself to read this column. This isn’t going to be a metaphysical treatise. I will try to provide clear, concise comments about key technical indicators. Over the next several days we’ll talk a little bit about those indicators, what they are and what they are supposed to measure, so that we can have a common vocabulary for our conversations together.
One last preliminary…the normal disclaimer type statements. I am not a registered commodity trade advisor. I am just a regular guy putting forth his own ideas. Use the information and recommendations at your own risk. Nothing here should be construed as a solicitation to buy or sell anything. There is a substantial risk of loss from trading activities. All recommendations are low in carbohydrates and high in polyunsaturated fats.
I hope you find this column helpful. God bless each of you as you pursue His will for your lives.
TradingForGod
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Post by TradingForGod on Sept 6, 2004 18:23:07 GMT -5
I am praying at this very moment. God bless you and your daughter-in-law for your faithfulness. May God draw your son back to him and open his eyes to any deception that is clouding his spirit. In the precious name of Jesus. Amen and Amen
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Post by TradingForGod on Sept 6, 2004 18:23:07 GMT -5
I am praying at this very moment. God bless you and your daughter-in-law for your faithfulness. May God draw your son back to him and open his eyes to any deception that is clouding his spirit. In the precious name of Jesus. Amen and Amen
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Ouch
Sept 8, 2004 13:25:50 GMT -5
Post by TradingForGod on Sept 8, 2004 13:25:50 GMT -5
Take a look at the "Tech Talk" post about AZMN from a few days ago. The trendline was violated and we've gotten some very decent follow through selling. AMNN had already retraced 62% (fibonacci) of the rally from 11 to 22. So it should stop right here.
When I said the other day that a brief sell-off to 16ish wouldn't be a bad thing, I really didn't think it would happen...at least not this quickly.
TFG
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Post by TradingForGod on Sept 8, 2004 13:25:50 GMT -5
Take a look at the "Tech Talk" post about AZMN from a few days ago. The trendline was violated and we've gotten some very decent follow through selling. AMNN had already retraced 62% (fibonacci) of the rally from 11 to 22. So it should stop right here.
When I said the other day that a brief sell-off to 16ish wouldn't be a bad thing, I really didn't think it would happen...at least not this quickly.
TFG
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Post by TradingForGod on Sept 2, 2004 11:08:11 GMT -5
AZMN is up to 20 cents on huge volume today...over 300K shares have traded. This is the highest price since late January. I think this confirms the break-out from a few days ago. My target remains 30 and then 37 cents in the near term.
Blessings,
TFG
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Post by TradingForGod on Sept 2, 2004 11:08:11 GMT -5
AZMN is up to 20 cents on huge volume today...over 300K shares have traded. This is the highest price since late January. I think this confirms the break-out from a few days ago. My target remains 30 and then 37 cents in the near term.
Blessings,
TFG
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Post by TradingForGod on Aug 27, 2004 11:15:45 GMT -5
AZMN is right at the top of its recent trading range once again. The heavy volume on rallies and low volume on dips is indicative of waves of buyers accumulating length at (hopefully) low levels. When the buying is exhausted the stock drifts lower with no momentum.
A lot has been said about the basing action we have seen. Just looking at the last six months, the high is about 16 cents. If we get a close above that level I think the stock could really begin to move. REALLY. I hope that it does. I don't trade individual stocks much, but I have bought some AZMN anticipating (hoping for) that break-out. I will add to my position if we get that bullish close.
God bless,
TFG
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Post by TradingForGod on Aug 27, 2004 11:15:45 GMT -5
AZMN is right at the top of its recent trading range once again. The heavy volume on rallies and low volume on dips is indicative of waves of buyers accumulating length at (hopefully) low levels. When the buying is exhausted the stock drifts lower with no momentum.
A lot has been said about the basing action we have seen. Just looking at the last six months, the high is about 16 cents. If we get a close above that level I think the stock could really begin to move. REALLY. I hope that it does. I don't trade individual stocks much, but I have bought some AZMN anticipating (hoping for) that break-out. I will add to my position if we get that bullish close.
God bless,
TFG
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