Support and Resistance - 1st week January 2007

Every weekend I will give you the support and resistance levels and how strong they are of the folowing Indices…

QQQQ, SPY, SPX, OEX, and the Dow (DJ30)

This will help you in trading decisions of where to be looking to place your trades.
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QQQQ - Support = weak at 43 / Resistance = 43.50 weak - It will break one of these next week wait for a direction to trade.

SPY - Support = 141 strong / Resistance = 145 strong

SPX - Support = 1410 strong / Resistance = 1445 strong

OEX - Support = 660 weak, a stronger support at 655 / Resistance = 675 strong

DJ30 - Support = 12400 weak, stronger at 12350 / Resistance = 12550 strong

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Another TA Tool for trading credit spreads

Trading conservative credit spreads is mostly about placing your trade above resistance or below support of a stock or index. Linear Regression Channel is a good tool to use to help with support and resistance levels.

Now I am not going to go into a horrendous technical description of Linear Regression if you want that go to Prophet for a complete description.

Otherwise in simplistic terms - a straight line is drawn as the “average” price for a over a certain period of time - if you have the 6 month chart up then it is for a 6 month period of time. Then a channel is formed with parrallel lines one above the “average” line and one below. If you are using the Linear Regression Channel 50% (LRC 50) then the upper and lower limits are one standard deviation (sorry no other way to really describe this without being somwhat technical) away from the average line. If you are using LRC 100 then the upper and lower limits are 2 standard deviations from the average price line. Read more

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Getting edgy on stocks!

OK this is not another post about how the Bear is coming…

Nope this is about a new popular videocast with a beautiful young lady named Lindsay Campbell. She has an edgy show she does once a day on the stocks - as she says it is where stock culture meets pop culture! They are very funny and sometimes very insightful. Can give you ideas on certain stocks and the news about them.

Today’s show on Altria (MO) is down right hilarious!

I am going to have to find some space somewhere on this page to put a permanent link up.

Check it out here…

Visit Wallstrip

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Name change

Changes are coming slowly but they are coming.

I have changed the name of the blog and freshed it up a bit, to better represent what I am trying to accomplish here. My first ebook is done and will be ready for publication in the next couple of days. Of course Christmas and family first.

So stay tuned

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