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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Tuesday, September 30, 2008

The Devil (-666) & (-111) = Dow down 777...

I wonder what combination of our knowledgable leaders make up the -111 part of the selloff?
Bush, Paulson, Bernanke, Pelosi or was it the summation of the House's 1/3 + 2/3 = 1 failed bailout vote? Either way at this point it is more interesting to look at What did not get creamed:

Lockhead Martin and the long term chart is quite impressive. LMT is bouncing between longterm Fib lines and has recently bounced off the 200 day EMA.

IRBT or IRobot - This could be a niche defense play with a tight stop @ $14.49.

And a couple of bottom feeders of the economy Dollar Tree and Ross Stores both held up where other discounters could not. Another notable here would be COST or Costco.


And for comparison sake in the Short that got away category - CALM.
OUCH! I guess eggs in New England are out of favor in the Fall. Note the "Should have bought Puts here" oval. I just wanted to emphasize the importance of the making of Lower Highs. This one should have been EZ Picken's.....

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