Buying 1000 shares - 10/29/09

I have been dyingto get into the market but I keep thinking the correction is coming. I know that the investment world is watching what I do because when I buy it sets off a sell signal to everyone and the stocks go down. I am trying to wait everyone but they keep teasing me and keep buying. I am wanting to then I saw this:

The weekly DJI beginning to bounce the 30EMA while overbought.

What do you think
1) wait for conformation break of the 30ema?
2) Jump in with tight stops?
3) where do you t… Continue

One of my scans (TAZ long) shows 106 stocks. There are a lot of them with nice looking charts. That is to say - an orderly pullback to a support (previous high/resistance, MA, or both). I also see a lot in the computer industries pulling back (CSCO). I looked for pullback on the industry charts and sure enough the stocks in the computer industries followed. My other scans have also found nice pullbacks. Too many to choose from. So how do you narrow it down? I need to set aside time and setup a r… Continue

Mike's blog on financials reminded me of my other method and scans. The top down approach. Look in the sectors (industrial groups) for the best performing and wait for the pullback. Then look for stocks in that group.

The TAZ works on the industrial groups also. so when I see a TAZ setup in the group, I then drill down. This is time consuming, so I use Telechart for this. I use to use IBD industrial group but you have to subscribe to all of their add-ons to get the info. Telechart subscribes to… Continue

Between work, getting back into this, and still thinking a pullback of some sort is due, I am on the sidelines papper trading.

Here is one that I can't make up my mind on. A T-30 at support. I kind of like. Volume on the last run up and on the hammer. The long sideways period has me thinking if it will go. But I am leaning towards yes. Good for paper trading.

… Continue