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Welcome to Daytrader's Picks You may contact me by email here twodollartrader@yahoo.com |
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The Ripple Effect Theory Of Price Action and The Fibonacci Filter are proprietary tools of my own device. The information contained herein is for information and analysis purposes and not to be construed as investment advice. Before investing you should consult an investment professional. If you'd like to contact me please feel free to do so at twodollartrader@yahoo.com.
THE CONCEPT: Short-Term trading. Trade Monday through Thursday, NEVER ON FRIDAY. Trades usually hit there objective on the same day. The objective is short term small profits, anywhere from $.75 to $2.00 per share. I NEVER hold a position over the week-end. I NEVER look for more than $2.00 per share per trade. Although I project declines in price I very rarely short a stock. A signal that the stock is moving down I usually take as a sign to stay on the sidelines. For the purposes of this posting and to give a more balanced view of the system, I will include potential Short positions in the follow-up. If a stock's price doesn't go above R1 or below S1 that's also a signal to stay away from it. There are plenty of stocks going up on any given day. The trick is to track as many as possible so that I always have trading opportunities.
THE SYSTEM: All of my trades are based on what I term The Ripple Effect Theory of Price Action and on a formula I cal The Fibonacci Filter. I don't try to predict price action, rather, I let the system, i.e. the stock's price itself, tell me which direction the stock is heading. The best way to read these picks is as follows:
ON THE LONG (BUY) SIDE: R1
ON THE SHORT (SELL) SIDE: S1 PICKS (SIGNAL LEVELS) FOR TUESDAY 9 MARCH 1999 Symbol:
ERICY: A trade above 25 3/32 (R1) indicates upward momentum. Look for a
slight retracement then a move to 26 3/32(Target Level 1) and to 27 3/32(Target Level 2). A trade below 23 15/16 (S1) indicates downward momentum
. Look for a slight retracement then a move to 22 15/16 (Target Level 1) and to 21 15/16 (Target Level 2)
AAPL: A trade above 35 (R1) indicates upward momentum. Look for a slight retracement then a move to 36 5/8 (Target Level 1) and to 37 5/8
(Target Level 2). A trade below 33 3/4(S1) indicates downward momentum. Look for a slight retracement then a move to 12 5/8(Target Level 1) and to 11 5/8 (Target Level
2)
CELL: A trade above 14 7/8 (R1) indicates upward momentum. Look for a
slight retracement then a move to 15 7/8 (Target Level 1) and to 16 7/8 (Target Level 2). A trade below 13 5/8 (S1) indicates downward momentum
. Look for a slight retracement then a move to 12 5/8 (Target Level 1) and to 11 5/8 (Target Level 2)
IFMX: A trade above 9 15/16 (R1) indicates upward momentum. Look for a slight retracement then a move to 10 15/16
(Target Level 1) and to 11 15/16 (Target Level 2). A trade below 8 11/16 (S1) indicates downward momentum. Look for a slight retracement then a move to 7
11/16 (Target Level 1) and to 6 11/16 (Target Level 2)
OPMR: A trade above 9 11/16 (R1) indicates
upward momentum. Look for a slight retracement then a move to 10 11/16 (Target Level 1) and to 11 11/16 (Target Level 2).
A trade below 8 14/32 (S1) indicates downward momentum. Look for a slight retracement then a move to 7 14/32 (Target Level 1) and to 8 14/32 (Target Level 2)
MXTR: A trade above 9 13/16 (R1) indicates upward momentum. Look for a slight retracement then a move to 10 13/16(Target Level 1) and to 11 13/16
(Target Level 2). A trade below 8 13/32 (S1) indicates downward momentum. Look for a slight retracement then a move to 7 13/32 (Target Level 1) and to 6 13/32
(Target Level 2)
GWRX: A trade above 3 1/2 (R1) indicates upward momentum. Look for a
slight retracement then a move to 3 3/4 (Target Level 1) and to 4 (Target Level 2). A trade below 3 6/32 (S1) indicates
downward momentum. Look for a slight retracement then a move to 2 15/16 (Target Level 1) and to 2 11/16 (Target Level 2)
SEVL: A trade above 9 15/32 (R1) indicates upward momentum. Look for a slight retracement then a move to
10 15/32 (Target Level 1) and to 11 15/32 (Target Level 2). A trade below 8 7/32 (S1) indicates downward momentum. Look for a slight retracement then
a move to 7 7/32 (Target Level 1) and to 21 15/16 (Target Level 2)
ARTE: A trade above 1 13/16 (R1) indicates upward momentum. Look for a slight retracement then a move to 119/32(Target Level 1) and to 1 27/32
(Target Level 2). A trade below 1 1/32 (S1) indicates downward momentum. Look for a slight retracement then a move to 25/32 (Target Level 1) and to 17/32 (Target
Level 2)
SNTKY: A trade above 1 31/32 (R1) indicates upward momentum. Look for a
slight retracement then a move to 2 7/32 (Target Level 1) and to 2 15/32 (Target Level 2). A trade below 1 21/32 (S1) indicates downward momentum
. Look for a slight retracement then a move to 1 13/32 (Target Level 1) and to 1 5/32 (Target Level 2)
JMAR: A trade above 2 9/32 (R1) indicates upward momentum. Look for a slight retracement then a move to 2 17/32(Target Level 1) and to 2 25/32
(Target Level 2). A trade below 1 31/32 (S1) indicates downward momentum. Look for a slight retracement then a move to 1 23/32 (Target Level 1) and to 1 15/32 (Target
Level 2) |
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PICK'S ( SIGNAL LEVELS) FOR 4 MARCH 99 Note*: This is the expanded version which shows 2 Target Levels. STOCK R1
TARGET 1 TARGET 2 S1
TARGET 1 TARGET 2 AAPL
34 13/16 35 13/16 36 13/16 33 9/16 32 9/16 31 9/16
AEIS
20 1/4 21 1/4 22 1/4 19 18 17
AMZN
124 1/8 125 1/8 126 1/8
122 7/8 121 7/8 120 7/8 AXC
3 1/2 4 1/2 5 1/2 2 1/4 1 1/4 1/4
BAMM
11 3/16 12 3/16 13 3/16 9 15/16 8 15/16 7 15/16
YHOO
154 1/16 155 156 152 13/16 151 13/16 150 13/16
CELL
15 1/16 16 1/16 17 13 13/16 12 13/16 11 13/16
ERICY
26 3/16 27 3/16 28 3/16 24 15/16 23 15/16 22 15/16
PICK'S ( SIGNAL LEVELS) FOR 3/3/99 |
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