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Blog description
- Rodney
- 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, February 6, 2010
GLD
Shorting GLD above 105 with stop just over bottom green trendline or 106.35
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Friday, February 5, 2010
EUR/USD
EURO losing 38.2% Fib means the dollar to $83
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Thursday, February 4, 2010
$SPX
Wait for it, wait for it, wait for it, and the PANIC begins....
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BAC
Perhaps a bounce play on BAC off the 200 day SMA @ $14.75. A very tight stop just below the $14.60 and switching the trade to short as the descending triangle would have broken to the downside.
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CSCO
CSCO reported and blew out earnings after the close yesterday. The modus operandi for reporting tech companies has been to sell the news even if it is good. The latest after hours quote has CSCO opening up to $23.86 or still below the 20 & 50 day moving averages as well as below the 50% Fib retracement of the 3 year high and March low.
It appears to me to be another "Crazy Ivan" setup back to upard resistance around $24. Looking to get short above $24 as the excuberance wains in the morning with a stop set at the recent highs of $25.10
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Wednesday, February 3, 2010
SIRI
Hope you took profits at $0.95
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GLD
Breakdown or breakout?
Notice how the gap down from 110.50 has yet to fill.
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MO
Head & Shoulders top on MO 1hr chart. A break of 19.68 could mean a downward stairstep move to $18.60. However, if 19.68 holds this H&S pattern is nothing but a beautiful bull flag on a longer term time frame.
Short with stop of 19.85
Long with stop of 19.63
One will be right with a full point move.
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Tuesday, February 2, 2010
MO
Last chance to sell around $20 for awhile.
Short with stop of 20.20
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CRAZY IVAN
S&P doing it's best impression of the Tom Clancy novel "Hunt For Red October"
Selling into strength as moving averages come down and getting short with stop above 1120
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CAT
Shadow trader free trial has a short trade on CAT setting up. I thought I'd take a look and zoom in a bit. It definitely looks like a bearish descending triangle setup between the two fibonacci lines:
52.94 - 53.67 (entry)
48.44 (target)
46.80 (second tier target)
above gap fill 54.65 (stop)
Monday, February 1, 2010
Sunday, January 31, 2010
(GLD/MO) Update
Two words:
Consolodation
Stagnation
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