May, 2000

Attempt trade for 05/31/2000 Wednesday  (Main trend:  UP-swings )$$$

<SP> Pivot/stop 1420 (including Globex), buying bias is not over yet, target 1438 and 1448. BUT...

(2) If this stop level 1421 is not violated before the opening, still buying bias for more rally, target 1438, 1447.

(3) If it opens gap up at 1435-38, take profit and ready to reverse to short.

(We shorted from 1436.50 and covered @1423; BRCM we shorted from 140, covered @135, 133 and 131.)

Attempt trade for 05/30/2000 Tuesday  (Main trend: time for UP-swings )$$$

<SP> Tuesday should give  one more chance to bounce above 1405. Support (stop) 1380, buying bias, target 1403-05 and 1418 before a little pull back.

Market needs to close above 1405 on Tuesday for this 1450-5 testing to be valid.

If market does close above 1400, just keep long for overnight for a possible gap-up open on Wednesday and a profit taking thereafter. 

Attempt trade for 05/26/2000 Friday  (Main trend: swings )$

<SP> Support 1374.20, buying bias target test 1408.

<NQ> Support 3000-3050, timing/direction follow SP.

Memorial Holiday, intra-day trading range could be established before 10:00 and then become choppy for the rest of the day.

Attempt trade for 05/25/2000 Thursday  (Main trend: swings )$$$

<SP> Trading strategy will depends on the opening level.

Two scenarios:
(1) If it opens gap up above Wednesday's high (1408), this trend is pointing to 1450 target before next Tuesday. If it does open gap up (due to GDP), it should be a gap up of more than 10 pts.

(2) If it does not open gap up and Wednesday's high is intact at Globex, watch out again, it would plunge right back to 137x. (After 10:00am, we shorted SP at 1415.50, short BRCM @132, 10pts profit.)

For scenario #2, if it plunges to 137x or 136x, still buying bias; because this 1450-72 target is valid within next 7-9 trading days.

Attempt trade for 05/24/2000 Wednesday  (Main trend: swings )$$$

SP - Short term double bottom. NQ support is around 2950 (for the time being).

If it opens between 1384 and below 1389, market should reverse back up again to test target 141x after morning sell-off. Monday's 1372 low testing is still valid before 7:00 ~ 7:30. We don't have strong bias before market opens. [Mid-day update: SP target 1406.50 before 12:30] 

Attempt trade for 05/23/2000 Tuesday  (Main trend: swings )$$$

(3) If it does not open gap up above 1411-2, we would take profit and try to reverse to short for 139x target. (We shorted SP 3 times, 30+ pts profit)

Attempt trade for 05/22/2000 Monday  (Main trend: swings )$$

It is up-swing's turn.  If it opens gap down above 1410 or gap up at 1418, it could be a reversal day for 1st target 1428 and gap filling before end of Tuesday. If it opens gap down below 1410, we will side line and see if bounce is feasible. (We bought BRCM @137 and for overnight)

Attempt trade for 05/19/2000 Friday  (Main trend: swings )$

<SP> As we said, this 1433-5 should be destined. Still selling bias for target 1433-5. We are still short from 1462. 

If it opens gap down @1430-35, try buying bias, for 1454 testing targe; if testing fails... it will plunge more on Monday--target 1418.

If 1454 is broken, it should keep rallying.

Let's see where it will open at.... (Update after open: It opened gap down below 1430; cover short. Stop for sell side should be 14.5, target 146...)

Attempt trade for 05/18/2000 Thursday  (Main trend: swings )$$$

<SP> As we said, this 1433-5 should be destined. Still selling bias for target 1433-5. We are still short from 1462. 

Globex 11:38PM (Wednesday), right now, SP is traded at 1448. 

It might open either side now from 1448 so we are covering the rest of SP now (11:40 PM at Globex, Wednesday) at 1448.50 and keeping BRCM.

If SP open below 1454-5, we will try to sell again for this 1433-5 target. If it opens gap down, side line for 10-15 mins, wait and see if reversal is feasible within 2 hrs after the open. 

Attempt trade for 05/17/2000 Wednesday  (Main trend: swings )$$$

(1) if it opens gap up 1473-74; stop 1475.60, selling bias, target 1464-63 (or Globex low testing). (2) If it opens gap down at 1463-65, then side line and read to buy for target 1485.

If it is #2, we would miss the #1 selling opportunity. If this 1460 is broken again within 2 hrs after the open, we will be side line, cuz it could become choppy-down. 

Updated after open: Opened below 1460, put aside DMD, and side line.

We shorted SP from 1462.50, took 1/2 profit at 1457, and carried 1/2 overnight with breakeven stop.

Attempt trade for 05/16/2000 Tuesday  (Main trend: swing up )$$$

<SP> This up trend from last Thursday is not over yet. Still buying bias for Tuesday. There will be a 1.5 day profit taking sell off.  This sell off would start from final hour of Tuesday or First 2 hours of Wednesday if it closes at hi on Tuesday. Wednesday gap down open is possible. We prefer the sell off start at AM Wednesday. 

We are still long BRCD, QLGC.

Attempt trade for 05/15/2000 Monday  (Main trend: swing up then reverse back down again.)$$$

<SP> This up trend from last Thursday is not over yet. If it opens between 1425-28, then stop 1429.50, selling bias, target 1415.50 before 10:00.

If it opens above 1432...stop 1436, selling bias, target 1416.10

<NQ> Target at around 3320-3300, then reverse to long for potential xxx pts rally from 3320-3300. SP target 1454.

Attempt trade for 05/12/2000 Friday  (Main trend: swing up then reverse back down again.)$$$

Stop 1402.20, buying bias, target 1428-9.

Once target gets hit, try to reverse to short with 1430.70 tight stop, target 1414.50 close. If market is strong, try stay side line, wait and see if rally will continue. Target 1450 will be for next week. 

Update after opening: take 1/2 profit on BRCD, HWP, QLGC and get rid of CSCO. SP 1439 should be the top for 141x pull-back. SP would close at 1427-9 area.

Attempt trade for 05/11/2000 Thursday   $$$

We are long BRCD, HWP, QLGC, CSCO and keep long into Friday.

Attempt trade for 05/10/2000 Wednesday   $$$

This down trend is not over yet. SP stop 1426, selling bias, target 1410--3; market might close at 1320. Even market close off the day low, it would open gap down below 1403 on Thursday. So, still selling bias.

Our main trend recommendation on May2~3: NQ3750 testing on May 5 is still valid. If this testing fails on Friday (05/05), watch out for a big gap down open on following Monday and target for this down-swing will be NQ3200~3130.  Last week we called "May 5 to May 10 would be down trend for Nasdaq target 3130".  We suggested to sell all Nasdaq stocks on May 5 and May 8. We called this plunge AGAIN.

Attempt trade for 05/09/2000 Tuesday (Main Trend: Dow, swings; Nasdaq: swings ) $$$

<NQ> Not low enough. Stop 3600-3620, selling bias, target 3400-3380 before Wednesday close.

<SP> If it opens gap up, stop 1440 (Monday's stop still valid), selling bias, target 1420-1416 and 1396 before Wednesday close.

Attempt trade for 05/08/2000 Monday (Main Trend: Dow, swings; Nasdaq: swings ) $$$

Three scenarios for SP:

(1) If it opens below 1418-9. Stop 1441-2, selling bias @1440, target 1420 and 140x before Wednesday noon. (As we called in WarRoom on Friday, "exit NQ stocks, it would open gap down on Monday".)

(2) If it opens above Friday's close then it could rally to 1454 before plunging to target 1434 and target 1414 on Tuesday...

(3) If it opens gap down more than 15 pts, then side line looking for next opportunity.

<NQ> Pay attention to SP direction/timing.

Attempt trade for 05/05/2000 Friday (Main Trend: Dow, swings; Nasdaq: swings ) $$$

This little up trend from Wednesday low is not over yet. Stop 1412.70, buying bias, target 1438-1441; target 1448-1453.50 before Monday open.

Attempt trade for 05/04/2000 Thursday  $$

SP> If SP opens flat, then a little sell-off is possible and this 1414-5 should be tested before bouncing more. <NQ> Testing 3750 before end of Friday. 

Stop 1413, buying bias, target 1438 before end of Thursday and 1454 before 11:00 Friday. If this bounce works, watch out for 11:00 reversal at 1438. If it opens gap up, stop will be moved to 1417. Again, SP and NQ need to show strength for bounce around 8:00. If 1413 is broken, we will be side line, wait and see. If 1438 can not be broken, forget about 1454.

We are long 1418 with 1417 stop

Attempt trade for 05/03/2000 Wednesday ( Main Trend: Dow, swings; Nasdaq:  bottoming, swing up ) 1/2$

Should be a selling-and-reversal day to up side. Three scenarios:

(1) If Open gap down at 1446-48, it will be down to 1442 and bounce to 1454-5...

(2) If Open at 1454-55, stop 1457.20, selling bias, target 1442 then 1447,  then 1438, then reverse back up with1436 stop for 1453-54 target...

(3) If open gap up at 1459-60, stop 1361-63.50, selling bias, target 1451-2 and 1448.

For (2)(3) scenarios, selling bias at open and market should reverse back up at around 7:45 - 8:20

 If none of above happens, the above 3 scenarios will be void. New strategy will be made in room.

The reversal target is for NQ 3850-80 testing before/after job report. Watch out, if job # is not good. NQ might plunge big time for final 3200 testing.

Update after opening: stop 1440, buy 1441.50, target 1454 then reverse to short for 1438-36 target. Risk 1.5 pts only. If got stopped out.. and 1436 broke, then DON'T BUY anything. Dow will plunge to 10400; Mid-day update: Stop 1422, selling bias, target 1408.50. We bought JDSU, HWP, BRCD with profit. Took profit on JDSU and BRCD.

Attempt trade for 05/02/2000 Tuesday ( Main Trend: Dow, swings; Nasdaq: bottoming and swing up )$$

<SP> Update after open: SP will be choppy down day, stop 1474, target 1462.50. if 1474 is broken, then it will become the pivot. Dropping below the pivot will make it bearish for target 1462.50. We are not buying for today.

Possible close 1470-71, if it did close around this level, then still selling bias one more time on Wednesday morning, target taking our Tuesday's any low.

Attempt trade for 05/01/2000 Monday ( Main Trend: Dow, short-term topping; Nasdaq: bottoming and swing up )

<SP> Stop 1468.70, selling bias, target 1406 before weekend. If 1468.70 can not be violated after Monday close, this 1406 target before weekend will be 60% confirmed. (Keep in mind: Dow/SP should be in same direction.

<NQ> Going test test 4000-4080 within 3-4 days. Buying bias is not over yet before 05/05. If NQ does not show strength at open, it should be a choppy down bias for profit taking pull back for 3630-80 testing before Monday close or Tuesday open. Intra-day trading strategy will be available after the open.

Update after the opening: Don't short SP if 1468.50 is broken. NQ 3880 is holding! Don't short. If it keep holding for another hour, Its target would be 4070 testing before 8:30 tomorrow morning. NQ's up trend is pointing to May 5.

9:55 AM update -- NQ did not hold 3880, we shorted BRCM from 178 for possible target 162 tomorrow morning; we took 1/2 profit @173.5. the balance with breakeven stop. Just be conservative !! Today's volumn is thin and NQ's short term up trend is not over yet.

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