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Any chartists wanna help me with these?

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March 16, 2011 – Comments (2)

I am starting to try a little bit of TA, just to see what I can do with it.I try to not mix fundies with technicals, because thats a mess.  However, I try to short companies that I think are expensive, so that I dont get caught shorting something that gets bought out.

I succesfully shorted NGS, calling a double top.  However, I didn't short until it broke the bottom line...should I have shorted at the middle line?  I made a quick 9% in two days

Now, I am short MCP.  I realize it could go as high as $51 before I cover, but I didnt want to miss this chance.  My target price is about 50% drop before covering. I am worried I may have the volume story wrong.

Then there is CAT, which I am bullish on...if spy goes up it goes up.  If japan goes down, it goes up

I just bought some SJI too

I shorted some PAY

I didnt have any more money for TA, but I would have bought EAT

Ok, so what did I do right and wrong?  This is my first time with TA

2 Comments – Post Your Own

#1) On March 16, 2011 at 1:53 PM, Valyooo (99.37) wrote:

Of course the images didnt show up, give me a few mins to try again.

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#2) On March 16, 2011 at 2:09 PM, Valyooo (99.37) wrote:

Ok, fixed it

I succesfully shorted NGS, calling a double top.  However, I didn't short until it broke the bottom line...should I have shorted at the middle line?  I made a quick 9% in two days 

 Now, I am short MCP.  I realize it could go as high as $51 before I cover, but I didnt want to miss this chance.  My target price is about 50% drop before covering. I am worried I may have the volume story wrong.

 Then there is CAT, which I am bullish on...if spy goes up it goes up.  If japan goes down, it goes up.  I realize its kind of ugly, but I am bullish on it fundamentally.

I just bought some SJI too

I shorted some PAY

I didnt have any more money for TA, but I would have bought some EAT

 Ok, so what did I do right and wrong?  This is my first time with TA.  If I can figure out where the market is going, I wouldn't be delta neutral.  But its all whacky, so I am.

 

 

 

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