3SOF

Added more UYG at 21.63 when the 1 minute looked oversold.

I wonder how traders will deal with UYG's hourly golden cross and SKF's hourly dead cross tommorow.

Update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 23.57, open
#20 at 22.46, open
#21 at 21.63, sold at 22.59

SKF

#1 at 144.44, open
#2 at 137.57, open
#3 at 113.19, open

Attached is a 1 minute chart where I tried to "catch" SKF as it tanked.

I used the blue line ( 50% linear regression) as my entry point (it was 113.19 at the time - not 112.94).

Wondering if I should just use the 100% linear regression line - I just didn't wanna miss out on a possible bounce.

Still learning and tweaking for the best possible entry

Here's another argument why I went long SKF:

UYG's hourly chart has a golden cross but it looked overbought based on the linear regression.

So far, the hourly chart looks overbought again but the 5 minute chart shows some room.

The 5 minute chart also shows a positive widening of the 50sma and 200sma.

Which one to follow?

Here's UYG's daily chart:

Ooops. Just fixed the charts.

I pasted the wrong charts earlier.

Fairhaven,

Here's my quick annotation of the DJUSFN.

Update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 23.57, open
#20 at 22.46, open
#21 at 21.85, open

SKF

#1 at 144.44, open
#2 at 137.57, open
#3 at 113.19, sold at 116.25

Looks like I sold SKF too soon again.

What I found interesting is, SKF touched the upsloping pink trendline it brokedown from.

Is that a trendline validation for the head and shoulder breakdown?

or

Will it go back up and close above it?

I'm tempted to buy SKF on pullback.

or

maybe buy more UYG if SKF goes up to around 122.50 ( mid linear regression of hourly chart with the 200 sma just above it.)

Looking forward to your thoughts.

Update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 23.57, open
#20 at 22.46, open
#21 at 21.85, open

SKF

#1 at 144.44, open
#2 at 137.57, open
#3 at 118.34, open

I ended up getting SKF - which currently looks like a mistake!

I was trying to look for the oldest annotation I made on SKF's "pink upsloping trendline".

I think I found it!

Quote from: Ares on August 12, 2008, 07:42:51 AM
Here is a shot of SKF closing below the upsloping (possible neckline) pink trendline and the 200sma on the daily and hourly charts.

Thank you 3SOF for your generousity of allowing me to continue posting in this on-line journal for free.

It really does make it easier to look back at history. ( adjusted the pink upsloping trendline to my original annotation).

Here's my most recent annotation on SKF's daily chart:

It looks like a trendline validation (of the pink upsloping trendline which may be the neckline of a head and shoulder pattern).

It also closed ( at 112.70) below the 200dsma (116.03).

The swing lows I'm looking at are:

106.45 and
89.47

Will it trade below 106.45 at the open on monday?

We may have tho look at the shorter timeframe for that - the hourly chart.

ps. Still wonder if or when SKF will reach the possible Wolfewave target. 

Why go with the bears when you could run with the wolves? 

That said, anything could happen - thus I'm incorporating some chess strategies.

gl

Are the after hours prints the end point of the hourly dead cross signal or will this continue at the open on monday?

DJUSFN chart update.

It looks like it did bounce on that 50sma/green upsloping trendline drawn earlier.

Update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 23.57, open
#20 at 22.46, open ( my wife wants to hold this longer)
#21 at 21.85, Sold at 24.89

SKF

#1 at 144.44, open
#2 at 137.57, open
#3 at 118.34, open

My wife wants to hold the UYG position at 22.46 longer.
I told her that if she holds on it too long - I'll short it (by buying SKF) 

She gave me a frown. 

I told her that I may be wrong though and she may be right.

If I'm wrong, she makes money.
If I'm right, I make money.

So far it seems like a win/win situation.

I suggested that she may wanna look after the analyis for the entry/exit of UYG so that I can concentrate more on SKF.

I have a feeling, I'll still end up trying to analyze both. 

Anyway, let's see how it goes.

ares

I found this by looking at some of your completed trades on the yahoo uyg board, you gave someone directions on how to get here, hope you do not mind if I checked it out.  I have become interested in trading uyg/skf recently.  Both you and temp brenda look like you have a good history of profitable trades with these 2 etfs.  Hope you do not mind if I try to pick your brain!

mdszj

Quote from: mdszj on September 09, 2008, 09:18:36 PM
ares

I found this by looking at some of your completed trades on the yahoo uyg board, you gave someone directions on how to get here, hope you do not mind if I checked it out.  I have become interested in trading uyg/skf recently.  Both you and temp brenda look like you have a good history of profitable trades with these 2 etfs.  Hope you do not mind if I try to pick your brain!

mdszj

mdszj,

I don't mind at all.
If there is something that you find where I can improve on - please let me know.

Ares (Jegejig)