Support and Resistance - 4th week of January
January 20, 2007 by Daniel Beatty · 2 Comments
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 = 44 / Resistance = 45.50
SPY - Support = 140 strong /  Resistance = 145 strong
SPX - Support = 1400 strong / Resistance = 1445 strong, 1430 weak resistance
OEX - Support = 655Â strong /Â Â Resistance = 675 strong
DJ30 - Support = 12450 weak, stronger at 12350Â /Â Resistance = 12700 strong
Nice Speculative play
January 20, 2007 by Daniel Beatty · Leave a Comment
Pete Stolcers of 1Option had a nice 20% gain on a put play from Armor Holdings (AH).
Check out the initial strategy here - My Opinion Of Armor Holdings Determined The Tatic! and then the outcome of this trade not quite a month later - A Follow-up To Armor Holdings and The New Plan In Iraq!
A lot of good quality thought went into this trade.
No TagsFREE Education And Training in Trading
January 9, 2007 by Daniel Beatty · Leave a Comment
Here is an opportunity for free education and training in trading.
International Traders Expo to be held in New York February 17th through the 20th. It is free! Of course, everyone is going to be pushing their wares and how their system is the best but you can still receive some extremely valuable information.
No TagsAnother TA Tool for trading credit spreads
December 30, 2006 by Daniel Beatty · Leave a Comment
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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