Monday, August 11, 2003
Issue Contents:
| 08:48 | Good Morning... |
| 08:53 | Housecleaning Items |
| 08:58 | Paul's Intraday Stock Picks |
| 09:03 | Headline Analysis |
| 09:19 | [$INDU, Daily] Dow Jones Industrial Average |
| 09:44 | Plan for Today |
| 14:48 | [Tables] Support and Resistance |
| 16:26 | Real-Time Trading Group Transcript This is the text transcript from the Real-Time Trading Group for Monday, August 11, 2003. |
| 16:48 | Paul's Intraday Stock Picks |
| 16:50 | The Library |
First, in case you haven't noticed, we made a bunch of posts this past weekend. Uploaded three trade setups and three book recommendations. These posts will be part of a new section of called The Library which you will be able to access from the Inside TrendVue box.
Second, Bob and I have finished refining the first nine automated stock scan lists at ChartScreener.com, and will be adding more as the week goes on.
These are Paul's intraday stock picks for Monday. He will review each setup for the Real-Time Trading Group at around 11AM Eastern.
BUY SCALPS:
No symbols.
SHORT SCALPS:
- DNA @ 75.07 (bar two of bounce)
- HPQ @ 19.42 (bar two of bounce)
- AAPL @ 19.59 ( bar one of bounce)
- NTAP @ 14.98 (bar one of bounce)
- GILD @ 61.62 (bar two of bounce)
NOTE: ChartScreener.com List 4 produced QLGC and AMGN.
Prices above should be used as ALERTS.
****
This was the weekend headline at WJS.com:
"August has the dubious honor of being the worst month on Wall Street in the last 15 years – and stocks are off to an appropriate start so far. Analysts speculate on whether this month will live down to the sorry reputation, and what investors should do about it."
Maybe this means there will be an upside surprise somewhere?
[$INDU, Daily] Dow Jones Industrial Average
Let's take a quick look at the daily $INDU chart.
The dark blue lines mark out the trading range, while this solid pink line was the original lower edge of a triangular congestion area. This line was breached in last week's trading, and the question now is IF this bounce will find sellers or IF...
...the triangular congestion area is simply getting bigger, after finding some support at the 50-day MA. The key will be to watch for telltale signs in the 9200 area.
The plan for today is to take a look at the market and individual stocks in detail. It's always a good idea to look at the big picture just before a big scheduled event in the market, so that we have the map in front of us as it happens.
[Tables] Support and Resistance
Let's try a test of this and see if the code works.
| S3 | S2 | S1 | Symbol | R1 | R2 | R3 | Trading Range |
| 8997 | 9121 | 9148 | $INDU | 9209 | 9361 | --- | 8871-9352 |
| --- | --- | 960 | $SPX | 982.55 | 987 | 1004 | 962-1015 |
Real-Time Trading Group Transcript
This is the text transcript from the Real-Time Trading Group for Monday, August 11, 2003.
Click on the title above to expand this document.
These are Paul's intraday stock picks for Tuesday. He will review each setup for the Real-Time Trading Group at around 11AM Eastern.
BUY SCALPS:
- No symbols.
SHORT SCALPS:
- SNDK @ 47.94 (retracement also adx is til quite high)
- NVDA @ 15.64 (retracement)
- HPQ @ 19.81 (bar three of retracement)
- CAT @ 67.86 (M test)
- GILD @ 62.14 (bar three of retracement)
- SOHU @ 29.72 (retracement)
- MERQ @ 37.93 (bar two of retracement)
- Watching NEM (high adx play)
****
Please note that The Library is now online. There is a link in the "Inside TrendVue" box to your right.