- 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 22, 2009
Thursday, August 20, 2009
Long term monthly chart of crude shows how important the $75 level is as the 200 month Simple Moving Average is $74.70. A break above this level could send crude on a trek back to triple digits going into the winter months. This is definitely a market sentiment indicator to watch closely.
Wednesday, August 19, 2009
Two ways to play the XLF on a breakout or failure of the channel line.
Breakout: Use a Buy stop above today's high of $14 to catch a possible breakout of the channel. Today's low 13.67 or the 20 sma - 13.50 as possible stops.
Breakdown: Go ahead and buy the Puts with a tight stop above $14.10 and a loose above 14.35.
No doubt the XLF is gonna make a move and a pick up in voulme will tell the tale as to which way to let ride as the other trade is stopped out.