Sunday, October 07, 2007

2nd Week Of The Month Is Bullish For The Dow



Here's a pattern that I've written about many months ago on this blog and it's been working for me month after month in real-time trading. You can see for yourself how many times this method has worked by looking at the above weekly chart of DIA.

Those of you who have been following my work should already know the rules by now so there is no need for me to go over them again and again.

I will be buying DIA on Monday's open (October 8th) and I will exit on Friday's close (October 12th)....My protective stop for this trade will be a percentage of the 10 day ATR...

Just a reminder that the above trade setup is NOT a recommendation to go long or short...I'm just sharing with all of you what I am doing in the marketplace..

5 comments:

Barbara said...

Why do you not use DDM?

Lawrence Chiu said...

Can you put a price for the 10-day ATR (the stop) for those of us who don't know it?

Andrei said...

Different subject, but what is your analysis on banking stocks. Recently ive been watching and USB and a few others are making a sort of upward wedge pattern. Whats your view?

x said...

What is your % of the 10 day ATR?

Romeo Bravo said...

Kevin

Looks like this trade did not work out after so may positive ones. Oh well. I got in and averaged in most of the week picking low point to enter so I got out Friday with about a 2% loss.

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