SPWR - 031708

SPWR gapped down and rallied into resistance at the previous day's low (black horizontal line). It had additional resistance from the declining 34MA, and broke the short-term (morning) trendline.

I entered short when price broke the hanging man that printed above S1 (green line). I covered when price reached S2 (yellow line).

A few photos from the Pacific Northwest

Mt. Hood from somewhere in Central Oregon



Snoqualmie Falls



Mt. Bachelor



Smith Rock



Oregon Coast

Finding my groove...

Many thanks to those of you who read, comment, and send me emails. My posting is not very consistent, but I hope to spend more time on the blog after June. I have a lot going on now - trading, a new motorcycle, family health issues, Xbox, world peace. All of that takes time, and posting on the blog ranks low on the list. But I intend to keep moving forward, and the second half on 2008 should see a higher frequency of posts.

In the meantime, I will continue to post a chart or two a week as well as some random thoughts.

Next week I am headed to the Pacific Northwest for vacation. I am flying into Seattle, and will eventually make my way down to Oregon and visit Bend and Portland. I hope to get in some good outdoor activities - climbing, hiking, et cetera. I will not be trading, so I wish everyone a profitable week.

Sometimes you get lucky...

PAY gapped down and quickly fell through S2 (yellow horizontal line), and then consolidated for 5-6 bars. It printed a hanging-man candle below the consolidation level (white horizontal line); price did not break the hanging-man's low, but the next bar was a narrow-range, inside bar - I entered on a break of that bar's low.

Price collapsed over the next nine bars, and I sold on a break of the doji high. I left some money on the table as price rolled over and continued down - but I was happy with the quick, substantial profit.

Social Networking sites...

This is a good article on how social networking sites are losing popularity.

I joined Facebook in 2007, and have a profile there but rarely visit the site anymore. It was fun for a few months, but after that it was just another thing to maintain and check.

I agree with the article's assessment of MySpace - I think it is annoying, terribly designed, and mainly for teenage girls - or those who think they are teenage girls (and people that cannot spell or string together two coherent sentences). Most people I know have moved to Facebook, but even then the interest eventually dies out.

Read the article here.

Texas and Ohio - Vote!

Regardless of who you vote for, exercise your right to do so.

LEH - 022908

Here is a simple chart - LEH broke below the R2 pivot (yellow line). It printed a hanging-man type candle, and had pressure from the declining 5MA. I covered just over an hour later when price printed a narrow-range hammer (white line).