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I wanted to let you all know I took a small postion in MU on Friday 58 1/8
(short).
I would send the details of what I did but in a nut shell I used the
superpostion stochastics the raff regression channel and the Jarvis
Factor/Pre-JF indicators.
I had been watching the stock for about two weeks almst every day except for
the Chicago trip. I watch it sell off and then come back like arocket while out
of town. But after getting home it still went higher.
I ploted 5 minute charts realtime and then took trade by trade and watched how
the big guys did as well as the little guys. i learned a lot. I found two
distinct traders in that pit. One is 3x3K the other is big stick. (these are
names I m making up, but....) 3x3k would buy 3000 shares one right after the
other. ususally with a slight pause in between to check to see if he had either
stopped (temporarly) the price from falling or was tring to pound (hammer) the
price to move up.
Now big stick would come in with 60,000 shares at one crack and the crowd would
follow what big stick wanted. Be it up or down.
If you put a candle chart on MU you have a Doji on Thursday. The day before at
the end of the day they were about to close at the high of the day. It couldn't
of been no more than 25 minutes left in the trading session when some baracuda
came in and raped the pit for a full point plus.
Thursday morning the open was delayed & I believe there was a 80,000 order (big
stick) at the open. It gapped up 58 3/8 I believe. It then went as high as 61.
Thenlate in the day the robber barron came ans pushed the price back down to
the opening price.
The point of all of this, and there are several.
One I learned a hell of a lot. The horse power these institutions can have.
Incredable. The price would dip down a bit and bam here comes one or several
huge orders to move it in the other direction.
That although I didn't get in earlier it was possible to of gotten my short in
around 61. But that horsepower scared me. But looking at a daily chart I was
able to get in rather early on the short.
One of the next indicators I am going to work on is determing the trade size
momentum. I would like to see how often the big boy trade and then keep track
of it in a meaningfull way.
Boy amd I getting tired.
Gotta go.
Harley Meyer
meyer093@xxxxxxxxxx
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