monday monday, page-85

Mkay Never say final note on a thread...

lieay001

Herewith the charts from the time pre and post "whooshka"





In sequence there are 4 timespans, 5 min, 10 min (top) 30 min, 1 hr (bottom)..

i also had a quick glance at the one min when made the call.

Factors that led me to beleive we would see upside, though did not account for the rapidity ...


divergence on histograms of MACD versus price. followed by (not so easy to see with the spike blowing things out of proportion now) distinct (marked) divergence between the MACD moving averages and price. This last factor was very significant to me.

Also at the same time the higher timespans of the 30 min and hourly were hard down in the oversold area of their stochastics.

coupled with all this, the particluar level to which price had drifted down to... corresponded with a perceived target i had worked out for downside possibility today, based on stuff i put in the report... cant remember if I specifically mentioned this in the report, but was mindful of this area.

As well, the drift down from friday to today had formed what I perceved as three distinct waves and these type of patterns intraday are often corrected.

The bigger picture observances from the weekly report basically were suggesting "that we could see upside in the next one or two trading days."

So all that stuff came together, I was glancing sideways at the charts and thought hmmm this looks like she might go upside, logged on to XJO/HotCopper and a few people were being a bit gloom n doomy, so I watched the lower timespan (1 min chart) knowing the doom n gloom generally comes out very close to upside breaks. Saw enough to make the call, opened a position, put a profit stop up below the closest resistance and let it ride.

A trailing stop would have been more profitable :)))

OOOooooh PS regarding the massive sell orders, it seems as if there were equivalent buys on the forward spi futures contract so just ignore that long winded post about that... I keep forgetting we are nearing the december contract expiry.

;)