Do I dare?

I know the decline is frightening, but after some check-ups, I am standing up and say I remain bullish. The reason? The NASDAQ once again outperforms the DOW this whole morning. Secondly look at the NASDAQ $ losers: majorities are losing less than $2. This is nothing in a declining market. Thirdly, the leaders are holding the ground. Look at GOOG, MA, GS, BOT. They are tells of this market, I will be much worried if they start breaking down. Now they have not.

Bulls still OK

I know today's action is not encouraging as yesterday's, but as long as the low from yesterday holds, the bulls still get chance to attack the gap above.

Color me bullish

This strong close makes me more bullish.

An observation

The NASDAQ is outperforming the DOW now, though they are both down double digits. Just a small observation and keep it in mind, bears. I am trimming and adding, not backing back.

Good escape

Now it seems that my $4 loss is not that big deal.

Update: BRCD

I would also take some profit on BRCD.

Update: ISRG

I would take some profit on ISRG, maybe 50%.

My equity curve

I am pretty happy with my equity curve this year, especially I was not affected by the Chinese stock market crash.

RIMM

I also started RIMM last night.

Update: SIGM

Even though SIGM has a big red bar today, I still like it. I think it is not over yet.

DNEX

I added it to my newsletter last night.

Update: ISRG

ISRG has more upside ahead, the green arrow was my buy pt.

Access problem again

I have difficulty to access blogger.com from China again. Sorry for the delayed post.

Recent trades

Even though most of my shorts did not work out, except CME, I am still pleased I covered them in time with just minimum loss and initiated enough longs to capture today's rally. I have updated "winning trades" and "losing trades".

SIGM

I listed SIGM a couple of days ago. It looks like it is going higher on tonight's earning.

BBBB

I added it to my newsletter last night.

NASDAQ

The NASDAQ will put a short term bottom if above 2404

ISRG

I added it to my newsletter last night.

Update: GLBC

GLBC is testing the high from February.

Update: CME

If the head and shoulder pattern breaks, more downside ahead.

Strange

Readers know I have been bearish for some times. And the market still looks bearish to me now, the strange thing is majority of my short holdings have not broken down as I expected, like MA, MGM, GS; while long positions become greener, like ESRX, CHAP, GLBC. I have to think if there is a slight possibility we are bottoming here despite the price pattern points to a lower price. Do you have similar experience?

GLBC

I added GLBC earlier this week, though did not expect it could break out successfully due to a weak market.

CME

CME looks like a head and shoulder to me.

Breaking down

This is bearish, we are breaking down the mini bear flag. Next support area: 2270-2300.

ANAD

I added it to my newsletter last night, it looks good.

A mini bear flag?

If that is the case, more downside is ahead.

Spyker

Last night I saw a Spyker on the 3rd ring in Beijing. The car costs at least $300k, and is rarely seen in the States.

Get off my way, new M3 is coming!

NASDAQ holds the support

2330 holds.

Update: BRCD

BRCD is climbing regardless what the market is doing.

NASDAQ weekly chart

Note the heaviest volume since the bull market started in 03.

Is the website you visiting blocked in China?

Maoxian has mentioned a website called "greatfirewallofchina.org". This is a great tool for people who want to know if a website is blocked in China. Thanks, Maoxian.

A new poll coming up

Please vote it on the right hand corner of the page.

My short term target on the NASDAQ is...

2330 area.

A good daytrade sample from this morning: PALM

I rarely daytrade. Why today? Because I can't let this opportunity go while I remain cautious on the general market. Look at the past three days I circled it as comparing the three day performance of the general market: the first day is a Doji while the Dow dropped around 400 points; the 2nd day it rallied well closed at the resistance; the 3rd day once again it closed at the same resistance. It looks like it wants to go higher. I bought it this morning when it cleared $17, sold it at $17.9, where it filled the gap from last June and I pocket 5%. Surely it may go higher, but as a trader, I had a plan and I executed according to it, that is a good trade to me.