Wednesday, March 18, 2009

T/A set up of the week(ish) GOOG (mar 18--march 27)


GOOG (short)


to me, cleanest chart i see short, imo from looking at em tonite.
for the next 5-10 trading days.



target: 290
Posted by Erik at 8:45 PM

6 comments:

  1. In Debt We TrustMarch 18, 2009 at 9:19 PM

    GOOG is resting at max pain already. (330) according to optionpain web site.

    GS max pain has moved up to 90.

    Thoughts?

    ReplyDelete
  2. AnonymousMarch 18, 2009 at 9:27 PM

    Good call I like MA as well.

    Cheers,

    Trader

    ReplyDelete
  3. ErikMarch 18, 2009 at 11:41 PM

    goog max pain is 330 for march, 320 for april currently

    i dont put THAT much weight in max pain, but i do put some into it.

    goog did not particpate AT ALL today (it was DOWN)

    i dont think bulls want to buy a 25PE stock here, who would???

    plus tech does not benefit like commodity plays if they tank the dollar, like they did today.

    ReplyDelete
  4. ErikMarch 19, 2009 at 12:26 AM

    gs?

    i think it closes the week closer to 90, than where its at NOW (105)

    ReplyDelete
  5. AnonymousMarch 23, 2009 at 10:53 PM

    Erik, I need some help. I´ve been following your posts on the SKF board. I recently found myself in SKF land because I an a novice idiot? Please bro. I reloaded some bullets and can make a play tommorrow. (even though I should be licking my wounds.) I got 43 shares at 130 SKF. What would you do? I dont really know how to short but I´m teachable. Things are grim on the SKF board huh? You seem to be strait forward and knowledgeable... I´m out of the media loop down in S. America... Maybe I missed a few key cues... I appreciate your time... in responding? Markdkorman@yahoo.com

    ReplyDelete
  6. ErikMarch 23, 2009 at 11:07 PM

    SKF board will teach you very very little.

    90% of the post there are pumping of their own positions, and jibberish. The blogs to the right of my blog here i think are all VERY beneficial. Especially check out the STOCKSTOP Message board, it's great. It even has a beginners forum and the majority of people up there are truly FOCUSED on making money and sharing and aquiring knowledge from others to acheive that. (and dont care about the chest pumping crap, after all that doesn't make money)

    I honestly would never hold skf EVERY overnite, sorry if that's not the answer you want to hear. It's a levered ETF, and it's a daytrading vehicle. I don't trade it hardly ever, b/c i rarely daytrade.

    Dont fall in love w/ any position.

    Some of the best traders (and i am NOT one of them, or claim to be) only pick 40% winners, they know how to get out of the losers FAST with very very small losses, and ride the hell out of the winners.

    Loses are ok, you learn from them. The key is SMALL LOSSES. The most single important thing to focus on is "make sure my losses are small". The rest will come, that is the mistake that most make, praying and hoping it will go back. Well if that's the case, isn't it smarter to just JUMP SHIP at a 4% loss....then "hope" it goes 30% lower, and then RE-ENTER there!!! (and get it 26% cheaper)

    I would not want to be short finacials for the next 1-2 weeks, for whatever that's worth, imo.

    ReplyDelete

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