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Welcome to

Daytrader's Picks

You may contact me by email here twodollartrader@yahoo.com

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 is the stock's first level of resistance for that trading cycle. If the stock trades ABOVE R1 by at least 1/16th, that's an indication of  Upward Momentum. Expect the price to retrace slightly and then continue up until it hits its target level. BUY  on the retracement.

 

ON THE SHORT (SELL) SIDE:

S1 is the stock's first level of  Support for that trading cycle. If the stock trades BELOW S1 by at least 1/16th, that's an indication of  Downward  Momentum. Expect the price to retrace slightly and then continue down until it hits its target level. Sell on the retracement

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)

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

Stock

RI

Target

SI

Target

AAPL

35 1/2

36 1/2

34 1/4

33 1/4

AEIS

20 3/4

21 1/8

19 1/2

18 1/2

AMZN

122

123

121 3/8

119 5/8

AXC

3 5/8

4 5/8

2 3/8

1 3/8

BAMM

11 7/16

12 1/2

10 3/16

9 3/16

YHOO

153 13/16

154 3/4

152 1/2

151 1/2

CELL

15 1/2

16 1/2

14 1/4

13 1/4

ERICY

26 5/16

27 5/16

25 1/16

24 1/16

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