ZICA and BLJ

Let me start with a disclaimer: Anything read here should be considered very “amateurish” as I am as green as can be when it comes to technical analysis. This blog is more a tool for me than for anyone else at this point. I am not trying to teach anything, I am brain dumping so I can refer to is later.

Today, ZICA and BLJ cought my attention. They both look they could be potential candidates.

BLJ is my current favorite. The long term trend is up, the BOP is turning positive and I am the Elder’s Force Index crossed below zero recently. We seem about to get a buy from the Stochastics indicator. I am watching it through the open, waiting for it to cross over 1.21.

ZICA‘s long term trend is a lot less attractive. But on the short term, we could get a quick climb up to 1.55, asssuming it breaks 1.21 early morning.

About

I am an Electrical Engineer by formation, I currently work as a Unix Systems Administrator and the market and its charts are my hobby. I was heavily inspired by bloggers like Trader Mike and by authors like Dr. Alexander Elder. This is my market blog…

And so it begins

Everybody has to start somewhere right… I am very new to this game but I love technical analysis so far. I have very inspired by several books, including one of favorite “Trading for a Living” by Dr. Alexander Elder. I was also very inspired by current bloggers, mainly Trader Mike who has a wealth of information on his blog and is just a pleasure to read.

I cannot afford to day-trade at the moment because of the PDT regulations so I plan to stay in the swing/positions trading window. Right now I am basically working on scans and PCFs on TC2007 and paper trading them to see what I like and feel confortable with. I may give MetaStock from Equis a try before settling on TeleChart. I want to develop decent scans to find 2-3 good setups which I would hold for 2-4 days. Not a way to make a fortune, just a sideline and a way NOT to lose a fortune.

My current trading account is fairly inactive, I am looking for good exits on some positions I was holding for a while. Once I have everything liquidated, I will transfer the assets to IB to try and save on commissions.

I do not plan on doing this full-time ever.