Big Wave Trading incorporates a Mechanical Disciplined Signal Generated System and uses a Market Model system to invest profitably in the stock and futures markets. Big Wave Trading also incorporates a strict risk management system and cuts losses immediately if a new purchase does not work in our favored direction right away.
Tuesday, April 12, 2005
Covered rest of qqqq and spy short
just to be safe. There is some small surf and I am hard up to get some. I covered some (but not a lot--still ugly charts) shorts and have found at least 5 really nice longs today. When I get back in I will update for tomorrow. Strong looking day but volume is still below the 50 day volume average. So this may either be a dead cat bounce or just another base building day waiting for that 1.7% move on heavier trade to give us a confirmation day on the rally that might have started on March 30th. OR it could be a bounce back to the 50 dma before going even lower. I mean remember Alan Greenspan isn't putting on the brakes because he thinks the economy is strong. He knows gas prices/oil is starting to hurt the consumer. But still some nice longs to look at. I will be back later.
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