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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.

Saturday, August 30, 2008

Deee-fense wins championships.........

Defense stocks are poised for action as Russia pushes their chips in on NATO's table. Here is the Aerospace and Defense protfolio ETF touting a bullish ascending wedge. The cool thing about this is the tight stop that can be set just below the Fib line.
General Dynamics seriving the coffe at the table in this cup an handle formation. Again a fairly tight stop at the Fib line.
Raytheon....well enough said....
If you have not seen the Wallstrip video blog on GD it is worth a look.

SPY descending wedge and a semi comparison

The SPY is hitting some technically indecisive levels. The bearish descending wedge was broken this week and retested Friday. Is it coincidence that the level is below the mid-point of this short-term range and corresponds to a previous lower low?

Semi-conductors are looking interesting. Here is a comparison of the big hitters INTC, AMD, NEC, AKAM with the overall group SMH thrown in for good measure. AMD may be oversold in this group and ripe for some longer calls. There is definitely a distinct difference between AKAM & AMD over the last 3-5 years. But there is no doubt that these two will out perform INTC.

Wednesday, August 27, 2008


Not meuch going on with the persisting low volume going into the long holiday weekend. The VIX is setting up to let traders know the direction going forward. I find today's VIX action to be ineresting as the market was up big and should have pushed the VIX below the recent lows. HMMMM....I wonder why it did not?

Tuesday, August 26, 2008

Financials, Consumers, and the SPY...

As Wall Street and Europe finsh off there end of summer vacations the market is meandering around range bound.

Check out the lack of volume on the S&P....
Volume up on the way down....
Volume down on the way up...... Either way could be played here with fairly tight stops.....I guess this is why they call it a "Trader's market".

Monday, August 25, 2008

Existing home sales Data

Total existing home sales increase to 5 million homes. However inventory also increased to an 11.2 month supply.