preparing 25th of April

AUTO:
CMP : - BUY - see the weekly chart below:

BANKS :
BRD - inside channel - still to follow up :


FINANCIAL :
BRK - slowing down the pace ?


SIF3 - back in the channel : will it stay there ?
SIF2 - the fight with the channel - see the hourly chart below

preparing 24th of April session

FINANCIAL:

SIF2: still struggling to enter the channel ( see the hourly chart below )


SIF2 -IUN: super frenzy - while sif2 is still struggling to enter the channel sif2-iun hit the upper line of the channel.

preparing 23rd of April session

FINANCIAL SECTOR:

SIF2-JUN hourly is struggling to enter in the channel While SIF2-JUN daily has tested the trend by trying to enter in the daily channel . See the pictures below:

trading system - Open Interest

1. Prices up and OI down => short sellers are covering their positions Money is therefore leaving the marketplace and is considered bearish.
2. price up
   
3. price flat and OI up => trend reversal
   
4. price flat
5. Price down and OI up => new money is coming into the market, showing aggressive new short selling. This scenario will prove out a continuation of a downtrend and a bearish condition
6. Prices down and OI down => the price decline is being caused by disgruntled long position holders being forced to liquidate their positions

Price	Volume	Open Interest	Interpretation
Rising	Rising	Rising	Market is Strong
Rising	Falling	Falling	Market is Weakening
Falling	Rising	Rising	Market is Weak
Falling	Falling	Falling	Market is Strengthening

PERSONAL ADD: the divergence between VOLUME and OI it's a factor that you have to take into account see the picture here

preparing the 17th of April trading session

AUTO & RELATED
Today I bought 1000 CMP at 1.44 based on the previous day's research. I told you that It will break the 1.4 resistance. Go CMP !

BANKS
- BCC - still fighting with 0.62 resistance
- BRD - tremendous day (+5.19) The resistance at 2.2 was broken and also the RSI downtrend was broken.

SIFS
- SIF 5 - looks like a double bottom

- SIF2 tried to break the 3.12 resistance. It went up to 3.17 but couldn't hold the price level and came back at 3.12. Along with the decrease of open interest and the volume downtrend I hope a reversal of trend is near. Have a look at the market in depth and look at the 4:1 ratio between sell orders and buy orders.

SIF2	3.1200	1.6 %		4/16/2007 15:20
nrob	cant bid	pret bid	pret ask	cant ask	nroa
2	25,800	3.1200	3.1300	17,800	1
8	35,900	3.1100	3.1400	56,900	4
6	112,200	3.1000	3.1500	114,500	4
4	40,000	3.0900	3.1600	170,000	4
1	3,300	3.0800	3.1700	44,700	11
1	2,500	3.0700	3.1800	107,400	12
3	4,800	3.0600	3.1900	203,800	8
6	10,300	3.0500	3.2000	281,900	20
6	56,700	3.0400	3.2100	212,000	2
5	51,900	3.0300	3.2200	106,000	2
42	343,400			1,315,000	68

lessons learned

1. Nobody forces you to enter a trade.
If you are not sure about a certain trade DON'T DO IT
2. DO NOT TRADE AGAINST THE TREND ( For Spot market look at the weekly and daily trend, for futures market look at the hourly and daily trend)

preparing the 16th of April trading session

AUTO & RELATED
Compa looks well and a major trend line is closer an closer
BANKS
- see my post regarding BCC

SIFS
- BRK - remember to cancel the order at 2.01 ( negative rsi and stochastic trend on daily chart)

- SIF3 back in the channel. Will it stay there ?

- SIF2_IUN resistance at 3.2 . Will it break the resistance at 3.2

- SIF 2 - resistance at 3.1 .


OILS
- PTR , RRC

trading system - stochastic trendline

In my previous trading session (13th of Apr) I bought 5000 BCC because of the channel that this security described during the last 8-9 months and the struggle seen in the latest weeks to break the upper line of the channel. Based on the saying "If a trendline is hit several days/weeks in a row , finally it will be broken", and looking at stochastic indicator and the trend it described I decided to BUY this stock
The strategy here is :
- if the upper trend line of the channel is broken then at least 10% profit expected
- if the price goes along with the upper channel trend line : HOLD
- else SELL