June, 2000

Attempt trade for 06/29/2000 Thursday  (Main trend: Top is around corner)$$$

<SP/U> Watch out ! We think market threatens to plunge! If market opens gap up above 1475, then stop 1479.60, selling bias, target 1462. If it opens unchanged or even lower than 1470, stop 1474.80, selling bias, first target 1462.... Watch out ! If market has hard time holding above 1460-62, Thursday would be the 1st day of 3 down days in a row, target ... testing 5/30 gap -- NQ/U 3300-3250, SP/U 1428.70 

[Result: SP/U  Open 1462, High 1478.50, Low 1453.00,Close 1458]

Attempt trade for 06/28/2000 Wednesday  (Main trend: Top is around corner)$$

(2) Bear side: If GDP is a good number and market still fails to hold after FOMC no-rate hike announcement. Market should plunge into weekend for 1428 and followed by a bounce.

[Result: Market closed at low]

Attempt trade for 06/27/2000 Tuesday  (Main trend: Trend is up, top is around corner)$

Stop 1472, buying bias, target 1492-1498 before Thursday. Rutine morning sell off will test 1474-2, if broken... testing yesterday's low. 

Attempt trade for 06/26/2000 Monday  (Main trend: Trend is up)$

<SP/U> Stop 1471, we would try to sell 1469-70 at Globex, target 1461. 

(1)If this 1461-60 holds before 8:00, we would try to reverse to buying bias with 1460 stop, target 1480 and 1490. Summary: Try selling bias first, then reverse to buy side if support holds.

[Result: Globex high 1470.50, open 1468, Low 1463.50, High 1480, Close 1479]

Attempt trade for 06/22/2000 Thursday  (Main trend: Trend is up, but NQ is not low enough)$$$

<NQ/U> Nasdaq is not low enough, wait another couple of hours for re-entry of long position and keep long into end of June.

<SP/U> Wednesday's close is neutral. As we said, as long as it closed below 1502.50, this 1492 would be tested again (even 1482-4). 

SP is likely to repeat Wednesday's opening again at 1493-4 area and test 1498 and plunge to 1490 (even 1482-4 in the afternoon).

If it does open gap down at 1493-4, then 1500 stop, try to scalp short side again for 1490 testing in the morning.

Attempt trade for 06/20/2000 Tuesday  (Main trend: Trend is up)$$$

Pay attention to NQ tomorrow morning. NQ should rally another 60-80 points before profit taking sell off which would take NQ down 150 pts from high.

If it does reverse from this 60-80 pts rally then no more buying after profit taking until Wednesday afternoon or Thursday morning. 

So... take profit tomorrow and try to scalp short side and reverse to buy side again after this hiccup completes.

Attempt trade for 06/19/2000 Monday  (Main trend: Trend is up)$

Friday's close 1488 was not good enough and failed to close above 1502. Therefore NQ 3600 testing  is showing on our map again before end of Tuesday.

Trading range 1497-1484 before Wednesday.  For short side, stop 1498.50, selling bias for 1484-85 testing and reverse to long side. We don't think SP would break 1502 before Wednesday noon if 1498.5 stop prevails on Monday.

Attempt trade for 06/16/2000 Friday  (Main trend: Trend is up )$$

<SP/U> Market might keep trying test 1483 before end of Monday. Pivot is still 1502-03

Due to triple witch, if market can not take out 1510 and back down to break 1502-3, watch out, SP will still try to plunge 1483 again and we will try to scalp short side again.

Attempt trade for 06/14/2000 Wednesday  (Main trend: Trend is up but correction is not low  enough. )$$

Tuesday hight holds and plunges to test Tuesday low (likely breaks it if this scenario is feasible.)

Can't do anything now. Just keep 1/2 long position and see how this CPI would do.

Tranding strategy will be commented in room ater CPI report.

Attempt trade for 06/12/2000 Tuesday  (Main trend: Trend is up but correction is not low and long enough. )$$

<SP/U> Finally, SP achieved our target 1472-68. Ready to reverse to long and re-enter long position. NQ/U is not low enough though, our target for NQ/U is 3590-3630 before 9:30 AM Wednesday. Anyway we started to accumulate some stocks at today's low.

Since NQ/U is not low enough, SP/W still has a chance spiking down to 1460 -/+ 3pts area in order for NQ/U to achieve target.

Ready to buy ! No matter what, SP/U needs to close above 1472 on Tuesday in order for target 1492 testing and 151x to be valid before this weekend.

(Today, we bought at the very low at the right time and keep long overnight. Unlike  most traders, we were just patient for last 6 days and  only started the buying today.)

Attempt trade for 06/11/2000 Monday  (Main trend: Trend is up but correction is not low and long enough. )$$

Main trend is still UP, this situation will be tricky in this week; becuase it could either go to take out low first then reverse back up or just keep going up after CPI report.

If it opens gap up above 1494 pivot, it would be buying bias for 152x target with 1484 stop. Since CPI has not released yet, the above situation might delay for another day.

If it does not open gap up above 1494, market should try to test last Friday's low again or become a choppy day.

Attempt trade for 06/09/2000 Friday  (Main trend: Trend is up but correction is not low and long enough. )$$

<SP/U> Dow's Thursday plunge could be a warning, plus Thursday was the expiration day for this first leg up from May 26 as we mentioned in May. If this 1470-2(SP/U) doesn't look feasible on friday, it will try next week.

This 1450-47 (SP/M) or 1470-72 (SP/U) is just showing on our Map. This week has only one day left. If a plunge to this level, it should be on Friday.

Attempt trade for 06/08/2000 Thursday  (Main trend: Trend is up but correction is not low and long enough.)$$

<SP/U> Today's close is above pivot. This pull-back could be over, but this SP/U 1483 (or SP/M 1450-48) is still valid for one more day. Two scenarios:

(1) If it opens gap down, then it should be another choppy day like Wednesday and this SP/U 1483 testing would be validated again. If this gap down is violent, watch out.

(2) If it opens gap up at (June 1474), buying bias with 1472 stop for target 1488-89 (June contract) or 1510-2 (Sept contract) before 9:30; watch out after for a profit taking reversal after 9:30 due to PPI's uncertainty.

8:30 update: Stop 1490.10, scalping selling bias @1488.5-89, target 1481-82.50.

Attempt trade for 06/07/2000 Wednesday  (Main trend: UP-swings )$

(1) If it opens at/below 1468, stop 1470, selling bias, target 1450 +/- 2pts. 

(2) If it opens gap down, selling opportunity will be gone, target still 1450 area.

For both scenarios, if 1450 support holds, reverse to buy side for 1470-71 testing target and reverse back down again. 

We did nothing but scalp some SP with little profit.

Attempt trade for 06/06/2000 Tuesday  (Main trend: UP-swings )$$

<NQ> For larger correction scenario: NQ will test this 3880 in the morning. If it does not even take out 3830 and closes below 3750 (pivot), it might  plunge 400-450 pts from high before end of Thursday and reverses back up to continue the rally. 

Attempt trade for 06/02/2000 Friday  (Main trend: UP-swings )$$$

<sp> UP trend is not over yet. New support is 1437, still buying bias, target 1468 before weekend and 1472+ before next Tuesday. 

If job report is not "very bad", market would keep going up for next target 1468 and 1472+ . Try to buy at spike down (1438~1442) at Globex. 

We are long  from last Thursday's low and day trades exited at 1435-8. Having missed the re-entry at 1438,  looking for another opportunity to re-enter, likely from 1446-7 with 1443 stop at Globex. 

Position trade - no hurry to exit the long. Day trade - wait for opening. (Our postions are still long BRCM, BRCD, IBM, QLGC, C)

Attempt trade for 06/01/2000 Thursday  (Main trend:  UP-swings )$

If it opens at 1435-36, stop 1436.70 again, selling bias for 1413-6 target; then reverse back (re-enter) to long position again for target 1452 before weekend and 1472 before end of next Tuesday. 

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. 

<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.

Attempt trade for 04/28/2000 Friday ( Main Trend: Dow, short-term topping; Nasdaq: bottoming and swing up )$$$

Watch out.  SP is moving in sync with Dow Jones on topping bias. 

SP: (Globex) Stop 1460, buying bias, target 1484-85. If this 1484 target achieved before 8:00AM, SP could reverse back down to fill up the gap and reverse back up.

6:25AM update -- Take profit and reverse. SP/DOW are topping, better exit Dow stocks.

Attempt trade for 04/27/2000 Thursday ( Main Trend: Dow, short-term topping; Nasdaq: bottoming and swing up )$$$

If SP opens gap up above 1480, try to scalp short side with tight stop, SP  target 1462-1460, spike 1455. NQ stop 3625, selling bias, target 3400 is a safe bet, but spike 3330 is valid. Stocks: BRCD - If it opens at 115 area, then stop 121, selling bias, target 100. 

DMD 6:30 AM Update: We are buying at open, SP scalping target 1453. 

Stocks: Buying BRCD below 100, target 113; buying PMCS for 10 points profit.

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