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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.

Friday, August 8, 2008

Long term crude and the dollar....

Crude oil may be in for a resbit, however the long term trend is still higher. If you are not a believer in Fib lines perhaps this chart will sway your opinion........
Yes that is correct.....In 1997 one could have reasonably predicted Crude would reach $145. Now let's take a look how this impacted the EUR/DOL....
Very interesting indeed......

Long the dollar short crude fr the time being?

Thursday, August 7, 2008

AMGN blast rolling over

The 5 year weekly chart shows the fall and retracement. This marks some fairly close entry and stop marks for a PUT trade.
The daily chart magnifies things a bit in relation to the fib levels.

Wednesday, August 6, 2008

QQQQ's update and KO on Coke

The inverse Head & Shoulders pattern is intact and setting up for shorts soon:

But for those who are impatient Coca-Cola puts may be in order tomorrow. Be prudent and place a tight stop:

Decision making time for the market.....

Big decision day for the markets as economic data abounds prior to open Thursday:

-ECB announcnement
-Chain store sales
-Unemployment Claims

and at 10:00 am:
-Pending Home Sales
-Natural Gas report
-Consumer Credit

Crude is setting up for interim bounce off of Fib level and will resume downtrend after test of $121.50....Lookout $110 and top of 200 day EMA coming soon:
The VIX will tell the tale if the bottom is in or not:
The major indices are all brushing under their 50 day EMA's with the exception of the stronger IWM which has broken barely above: