Saturday January 9th 2009

Our NASDAQ Composite is taking out new 55-day highs, note the cup pattern. I'm keeping an eye on the red ADX line to see if it takes out 40 for potential renewed momentum; and am cautious here since the red ADX is not > 40. On the other hand, it's a great long pattern since there's a bullish cup at the top. So based on that,

My Trading Strategy: I'll still enter on breakouts if the COMPQ clears and continues on up to new highs over 2320, though with small initial share size, only scaling up position size if ADX breaks > 40.

__________________
Good trading,

Ken Calhoun, Pres.
http://www.ADXMastery.com New Release on DVD
http://www.TradeMastery.com
http://www.ChartScans.com (daily alerts)
http://www.DaytradingUniversity.com
http://www.DaytradingAffiliates.com
http://www.TradingAffiliates.com
http://www.TradingTelevision.com
http://www.StockTradingSuccess.com (w/Steve Nison)

p.s. per sec/cftc/ftc regs, none of this is to be construed as trading recommendations, it's just for educational use only, so you can
"peek over my shoulder" to see what I'm doing with some of my trades. See www.daytradingu.com/disclaim.htm for full disclaimer.
These pages contain excerpts of actual trades I've made; it's not a complete record of every single trade I make. Some days I'll take trading wins or losses that I do not take the time to screencap and post online; it's a partial record of some of my trades. Note that I am not making income nor profitability claims of any kind. Most traders lose regardless of what they do. The majority of my personal income comes from my training business, and though I'm a net profitable (small-share, under 5k shares per trade) trader, I make more income from my business training traders than I do in trading profits. I try to capture the best highlights of successful days so you can see practical examples of what I'm trading. There are also days in which I incur losses which are not shown. This is simply a partial record showing highlights of some of my successful trading days. No representation is being made that other traders, including customers, will be able to trade like I do. Generally expected (average/typical) trader results are that all traders incur trading losses and most do not become profitable, regardless of the training they get. Trading is a speculative, high-risk activity.