Registered User
Joined: 10/24/2005
Posts: 101
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I went Long on CSCO a few weeks back at 20.92. Today its at 21.41 with an intermediate uptrend intact. I noticed that BOP and MACD is showing some loss of strength. I'm wondering if I should bail out before it hit too much resistance. Any opinion?
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Registered User
Joined: 11/16/2004
Posts: 105
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My opinion would be to ride it until it breaks below it's 20 day, Networking hardware is hot.
<:o)
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Registered User
Joined: 12/8/2004
Posts: 1,301
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This stock just completed wave 3. It will probably correct into the 19.36-20.36 range before moving up again.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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CSCO already 2 signals in my system for long confirmation. The system doesn't give green light until the 3 signal comes in. I am waiting for the green light. I think it will make the 3rd signal just a matter of time.
Internet 2 is creating lots of need for new more advance routers, fiber optic, and Amplifliers, and all sort og networking gear.
Like Bucket Shop said Networking hardware is hot.
Check CIEN too. Once of my confirmed picks back a few monthos ago. It has been doing great.
good luck
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Registered User
Joined: 10/24/2005
Posts: 101
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Bucket_Shop,
Yes. I think I'll ride the up and down with it. If it doesn't break its 20 day, I'll keep it.
HaveNoCents,
Does your wave machine have any prediction on a top?
BigBlock,
What are the signals you're looking at?
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Dear jrynweb the signals I am talking about are part of a propietary system created by me over a period of 6 yrs. I wouldn't disclose the system even if I could do that here. The system has been incorporated into a commercial web site dedicated just to it. I occassionaly give some of the candidates here for free. Because of rules and agreements on this board I cannot disclosed the URL for our web site. All I can say, when the 3dr signal comes I will let you know if I can, and then it would be time to go long - for a longer time frame.
good luck
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Registered User
Joined: 12/8/2004
Posts: 1,301
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The prediction would be based on how far it drops so until the correction wave is finished I have no idea.
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Registered User
Joined: 10/24/2005
Posts: 101
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BigBlock,
Oh, okay, I thought it was some of the TC2000 indicators. If it proprietary, I understand your requirement to keep it private.
HaveNoCents,
Your wave machine sounds intriguing. I'll have to do some reading about the waves. Do you have any recommendation?
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Registered User
Joined: 12/8/2004
Posts: 1,301
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Do a google on MT Predictor. They offer about 500 pages of downloadable reading material for free. Look for training course 1 which has very good easy and understandable elliott wave analysis. I think you have to sign up now to get the information, but it is still free. The second downloadable book they give you has some more advanced elliott analysis, but it is more related to their software.
There software is no "black box" by any stretch of the imagination. It does give you tools to make your own analysis which I find more valuable than the picks the program makes. The program is no replacement for telechart, but makes a great add-on to telechart. I would love to see telechart add some elliott wave tools to their already superior software.
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Registered User
Joined: 12/19/2004
Posts: 457
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As the other Wave analyst here, I can see what HnC means by a wave 3 up. The chart still looks bullish, but I'd bail if this dropped much lower than 19.40 based on the weekly. I think this should pull back between 20 and 20.50 before going back up again, if the uptrend truly is intact.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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CSCO made last signal today. This is a long with potential.
good luck
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Registered User
Joined: 12/8/2004
Posts: 1,301
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My program shows this wave to typically end between 21.50 and 22.00. I'm going to believe it and assume there will be some correction before we get higher numbers.
The extended wave 3 is 23.65 to 24.00 which should be the absolute top before correction assuming the typical wave 3 limits are surpassed.
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Registered User
Joined: 3/7/2006
Posts: 244
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I've been long for weeks now. I plan on holding tight for now anyway. Who knows, it may turn into a long term holding 
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Registered User
Joined: 10/24/2005
Posts: 101
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BigBlock,
Thanks for the update. Does your system have an approximation for a target?
HaveNoCents,
I hope your wave machine is wrong about the 22 part.
Inspector62,
I keep thinking whether I want to keep it long term or not. The long term chart looks good. The short term chart, I'm concerned about. The BOP and MACD haven't been stellar on the last few weeks.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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No it doesn't. Let me tell you briefly, if you are a longer term trader it is very simple. Buy the position, set your trailing stop to it. If the stock takes off your trailing stop will keep your profits minus your insurance (which is whatever percentage you decided to take in risk). If the stock goes against you then you will be protected by your stop.
Be advice that stops are not 100% efficient if you hold overnight, but never the less it is the best insurance you can buy on your investment. For all the wonders about when to sell, it is so simple - let the stock tell you. My system worries about finding good opportunities that is all, the rest is up to the stock.
good luck.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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QUOTE (jryanweb) HaveNoCents,
I hope your wave machine is wrong about the 22 part.
I wouldn't worry about it even if my program is correct unless the overall market corrects as well. This stock will still be ahead of where it is today sometime after the correction. We still have a wave 5 uptrend to go.
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Registered User
Joined: 10/24/2005
Posts: 101
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BigBlock, HaveNocents,
This is my first month back in the market since the big Internet crash 6 years ago. Thank you for answering all my newbie questions. I hope you guys don't get annoyed, because I probably will continue asking newbie questions in the future.
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Registered User
Joined: 12/31/2004
Posts: 102
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My read suggests CSCO working out of rectangle break that would eventually target $23.... that's where I would hedge
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Registered User
Joined: 12/8/2004
Posts: 1,301
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QUOTE (HaveNoCents) My program shows this wave to typically end between 21.50 and 22.00. I'm going to believe it and assume there will be some correction before we get higher numbers.
The extended wave 3 is 23.65 to 24.00 which should be the absolute top before correction assuming the typical wave 3 limits are surpassed.
For the record again. Cisco reached a top of 22.00 EXACTLY!! I am not pounding my chest, just show the predictive power of MT Predictor when you get the waves right.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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QUOTE (HaveNoCents) My program shows this wave to typically end between 21.50 and 22.00. I'm going to believe it and assume there will be some correction before we get higher numbers.
The extended wave 3 is 23.65 to 24.00 which should be the absolute top before correction assuming the typical wave 3 limits are surpassed.
For the record again. Cisco reached a top of 22.00 EXACTLY!! I am not pounding my chest, just showing the predictive power of MT Predictor when you get the waves right.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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sorry for the double post, I changed one word while it was posting.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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I never gave a wave 5 projection for this stock. The stock did move to the predicted wave 4 range of 20-20.50 so there is a good chance the wave 5 price projection will be correct as well. I can't believe I took this stock off my watch list so I did not get the opportunity to participate in the wave 5 uptrend.
Absolute minimum wave 5 is 22.13-22.44
Typical range will bring the stock to 23.01-23.34
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