Blog description

My photo
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.

Friday, March 7, 2008

Broken Ranges

Here' a look at the TWM which is the ETF inverse of the IWM or Russel 2000. As you can see the Fib fans are lending clear support and resistance levels. It is quite possible a bounce off the bottomside of the top fan line may occur next week before the TWM highs will be tested.
The volume on the DOW and DIA was pretty weak for an assault on the lows. It will not take much buying to induce a short squeeze.
The same holds true for the SPY which actually posted a Long legged Doji bullish signal on the Friday close. Hmmmmm, I wonder if a reload is in order for the Bears before the lows are blasted through?

Wednesday, March 5, 2008

Range bound, head fakes, and small cap speculation

DIA and the SPY show the rnage of the last 6 weeks. Perhaps the Jobs report Thursday and the Employment situation report on Friday will finally break the range one way or the other.

For you small cap speculators: CPST is shaping up to be quite interesting. If this is the bottom of a cup - a double or triple could be possible.

Tuesday, March 4, 2008

3 words: Long term support

A new blog from a poster on The Slope of Hope,, has it charted better than I can do. Congrats Winnace and thanks for my continued education. Check it out:

Monday, March 3, 2008

Range Bound

Well the bottom channel was breached again today, but the Bulls prevailed late in the afternoon. I am anticipating an upward push to backfill some gaps that took place last week in most of the indices. This may be the last upward push before we retest the lows.

Think or Swim

I have used Ameritrade as my broker for well over ten years. After reading the Slope of Hope and Market Ticker it has become very clear that people who trade have migrated to Think or Swim. It's not really about the cost per trade as much as it is about platform and tools. I'm sticking my toe in by moving my IRA account. Here is a link:;jsessionid=058FCE87346CD09EED2A9A16B5DFEF09.tos0_w18c9?webpage=main&layout=homeLayout