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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, June 19, 2009

S&P 500


Quadruple witching put handcuffs on the market Friday and it's anyone's guess as to which direction this market will take next week. A case can be made for both Bull and Bear with technical patterns to match. Bottom line is we are in the middle of the range and it is either going to be 880 or 1025. I give the edge to the bulls 60/40 only because the proximity to the longer term red channel bottom held this week.


For the Web's best interactive charts, please visit http://www.Prophet.Net

Thursday, June 18, 2009

GS triangle


And the beat goes on....Which way will Goldman Sachs breakout? The intraday traders are making a fortune on this one alone.

Quadruple witching expiration is tomorrow and volatility should be high. GS is a leader to watch for market direction.


For the Web's best interactive charts, please visit http://www.Prophet.Net

RIMM reports earnings after close Thursday


This daily chart shows how RIMM the maker of the Crackberry has almost filled the gap down of Sept 08 from 89.75 to form a cup with a handle. The problem is the fall of the handle is on increasing volume meaning more selling pressure is probable. However, this could also be due to traders locking in profits prior to the earnings report.

Depending on earnings results an 11 point move is in the making here. Perhaps a way to play the earnings would be out of the money Options:
Calls at $90 strike
Puts at $65 strike

Bottom line is if earnings are good all those traders who took profits will want back in driving prices even higher. If earnngs are bad the door won't be big enough to handle all the traders left looking for the exit.


For the Web's best interactive charts, please visit http://www.Prophet.Net

$SPX





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GS





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Wednesday, June 17, 2009

SPY


May see a bounce off 91.50 before fall continues to 88.25.

Don't fall for the bear trap that's coming.


For the Web's best interactive charts, please visit http://www.Prophet.Net

XOM Quandry


Long bounce with stop below yesterday's low target of $80

or

Short with a failure of 20 day ema and back to bottom of ascending trend - target $68


For the Web's best interactive charts, please visit http://www.Prophet.Net

GOOG


As MSFT has a point to run GOOG may be ready for a bounce at 404.53. A paired trade may be in order to get Long GOOG and short MSFT in the coming days.


For the Web's best interactive charts, please visit http://www.Prophet.Net

MSFT to hit wall at 24.45





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MO Bounce?


Looking for MO to bounce with a stop at yesterday's low. However, a failure could mean $14 based on this weekly chart.


For the Web's best interactive charts, please visit http://www.Prophet.Net

Tuesday, June 16, 2009

Monday, June 15, 2009

FSLR hit bottom of triangle


Brekout immenent. Now that energy has shown it's hand and FSLR is below the 5 & 20 Day moving averages the odds of 176.84 holding are slim. 20+ points to fill the gap back to $156.36 may be the play, but wait for the triangle to break.


For the Web's best interactive charts, please visit http://www.Prophet.Net

IWM


Similar pattern to the QQQQ. If this is the leadership, it's not looking so bullish. Also, IWM working on filling the gap up of 6/1 back to 50.27.


For the Web's best interactive charts, please visit http://www.Prophet.Net

QQQQ


H&S topping pattern?


For the Web's best interactive charts, please visit http://www.Prophet.Net