Tuesday, December 02, 2008

Updates: QQQQ & NNVC

Above is the Daily Q chart which triggered a Sell on Monday, signaling that those who tweak the Weekly system using the Daily signals to get back short, in line with the Weekly signal:

Above is the Weekly Q chart, revealing that it will take a print above 32 on the QQQQ to reverse the signal from Sell to Buy this week. Unlikely, but keep it in mind as this has been a very lucrative Sell trade and we don't want to get blindsided, unlikely as it may seem.

This is the Weekly NNVC chart, notable for it's Buy Triangle triggered today at 76 cents. Remember, NNVC trades best with the Daily chart:

As the above Daily chart shows, NNVC triggered long at 62 cents, now 80 cents, a gain of 29% in about a week, but with the Weekly now on board, this has the makings of a huge trade.

The truth is, these four charts are all I am interested in tonight. I can flip through dozens of other charts but I know from my EW analysis that the lows have not been seen and that most any long trade here is full of risk, much more risk then I am willing to take. My game plan is to remain very long NNVC and short the market at opportune times. There are times to be wildly bullish and times to be a raving bear, neither of which is present right here, right now. Being mildly bearish and very excited about NanoViricides just might be the perfect strategy going into the end of the year. Keeping it simple has it's place too.



Anonymous said...

Looking for a nice Santa Claus rally in Dec and Jan for NNVC as in the past!!! Gary

Anonymous said...

Allan,for what it's worth,IBD confirmed a follow through day on Tuesday.
Ron Rascati

Kat said...

Hi Allan - another superb insight into your trading thoughts, thanks! How about GLD (which you highlighted in a previous post) as an uncorrelated market? Weekly triangle went green on Nov 21, but shot up too fast to catch. Daily triangle went red on Dec 1, so it still may be a train that hasn't left the station yet. A green daily triangle might be a good entry point, as a sync to the weekly one?

Anonymous said...

at this stage with nnvc do u still prefer to trade with half the shares and keep the rest long?

Allan said...

Kat: One concern about GLD is that looking at a one year chart, GLD has made lower highs and lower lows since Feb '08. That has GOT TO CHANGE for GLD to be in an uptrend.

Serge: Right now I am ALL IN on NNVC, will not be trading out of any shares anytime soon.

Anar said...

NNVC can easily be the next CELG!

I have noticed a lot of talking heads on CNBC etc saying to go short and stay out of buying.... Contrarian view would say go long of a little while maybe?

Wayne said...

It's a pretty good bet that QQQQ weekly will signal a $29.23 green triangle today, if this morning's S&P futures are any indication.


Anonymous said...

NNVC triggered long at 62 cents, now 80 cents, a gain of 29% in about a week, but with the Weekly now on board, this has the makings of a huge trade.

Good time Allan,
I know i shouldn't watch nnvc the way i'm doing from open till close but since i'm not yet MC member i feel im totally blind without.
Would it be possible if i ask if u can update at least interms of any
triangle triggered in the opposite direction?