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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.

Thursday, February 21, 2008

SWC: Short @ $19

A 2 year chart and a 1 month chart tell the tale on SWC. Huge resistance @ $19 and entirely too much of a move too fast. A possible short term PUT play here could be the April $15 +SWCPC which is priced @ $1.00. A limit order of $0.75 and patience could easily make the money @ $14.50 in a hurry. Of course a prudent stop would be anything over $19.18.

Triangle's still

The nimble traders have made a killing playing this triangle from bottom to top and back again. But this gig is up.....Friday will be the reckoning day and if the overall trend holds it should be a breakout to the bottom side. However, I would not be surprised to see another Short shakeout move higher before the selloff. We shall know the answer for sure by Monday's close.

Wednesday, February 20, 2008

Bermuda triangles everywhere

Most of the index charts are sporting this cosolodation triangle pattern. Bottom line is when this breaks (by Friday) it will be a substantive move whichever way it goes. Remember the trend is your friend and the Bear trend off the October 07' high is still intact.
Here is a 3 month chart of the DOW prior to today's open.

Sunday, February 17, 2008

IWM 3 month with Fibs

It does not get any plainer than this. The lows are toast within a week. Be sure to check out Market Ticker's post this weekend. He's on board for a malestrom washout as the financial sector crumbles and the FED is helpless. Rate cuts? you say....HAH......Bottom line----------------Going long here on anything is a mistake. Patience, Patience, Patience