Welcome to Channellines!

Channel lines started as a pure technical analysis site based off traditional technical analysis of trendlines and their paired parallels. All technical analysis patterns and principals are based off channels (inclining and declining trading ranges) and their interaction with other channels of different slope or time frame.

I took it one step further. The "why" behind technical analysis! Why does it work, why does it not work? Is there a better way to play the markets and be more consistantly correct and profitable? There sure is. All based off the principal of providing liquidity, or taking the "other" side of the trade.

This site is now taking a different direction, we (my trading partner(s)) and I, are using this site more as a trading journal. We will list our positions, in part, and discuss various topics and thoughts throughout the trading day. I encourage the learning process, not relying on a crutch to help you with your trading. The primary purpose of the blog will be just a place for us to write down ideas and thoughts, not to educate (although we will, some), not to assist in your acquirment of monetary gain, but a place to interact with other market participants. My name is George Swanson, also know as Winace. My trading partners/account owners are present, I will allow them to present themselves and reveal whatever of their identity they are comfortable with. Enjoy the trading day, I wish you the best in your market journey.


Tuesday, January 6, 2009

Currently short, and adding.......

I currently hold 10 positions, of those 10, 9 are short. I have been adding profusely. I did exit out GILD today for some gains though. WY is the only thing I am holding long, currently up about 10% on it. Of the short positions, here are a few:

DRI
HOT
GWW
DE
BUCY
CNQ
NYX

Between now and the end of the week, it's gonna be a "shock and awe".

A few predictions (I am not playing this information, just what I see in the charts (which I no longer really use))

DOW 8909 offers some support, if it breaks, DO NOT hold long.
It will break....

We have a good possibility of going down in the next few days, followed by an upward week or two, but, by the end of February, I can see the DOW reaching below 7200.

Posted by Winace at 1/06/2009 03:46:00 PM
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