Not long yet...
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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.
Monday, February 8, 2010
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 $20 for awhile.
Short with stop of 20.20
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CRAZY IVAN
S&P doing it's best impression of the Tom Clancy novel "Hunt For Red October"
Selling into strength as moving averages come down and getting short with stop above 1120
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CAT
Shadow trader free trial has a short trade on CAT setting up. I thought I'd take a look and zoom in a bit. It definitely looks like a bearish descending triangle setup between the two fibonacci lines:
52.94 - 53.67 (entry)
48.44 (target)
46.80 (second tier target)
above gap fill 54.65 (stop)
Monday, February 1, 2010
Sunday, January 31, 2010
(GLD/MO) Update
Two words:
Consolodation
Stagnation
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Saturday, January 30, 2010
GS to 140
and a snap back bounce to 160. Be patient.
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$SPX
The S&P is looking pretty bearish with a monthly engulfing pattern and a topping tail hammer. Take note of the consolodation of the moving averages:
5 month - 1075
20 month - 1010
50 month - 1236
200 month - 1032
Bottom line is if 1075 does not hold 1250 is a pipedream for 2011-2012 and the most likely 2010 scenario will be a stairstep down
1050,
1030,
1010,
1000,
930,
Double bottom at the fan line around 700.
AMZN
Weekly engulfing pattern signalling AMZN may be heading higher. A decent setup with a stop below $120. However, below 120 you better be out and getting short for the ride to 100 and the gap fill.
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AAPL Daily
Another way to look at Apple would be getting long above 189.50 on a possible cup with handle formation.
Either short or long Apple is definitely going to be a volatile play in February.
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AAPL
Classic buy the rumour sell the news with Apple's latest release. There could be an interesting short trade here below 189 as sellers hit the exit button to lock in profit.
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Friday, January 29, 2010
$SPX
Thursday Battle over 1090 won by bears
Friday battle over 1080 breached to 1078 and setting up good for the bears. The play of the day is to get short below 1078 for the zip line ride to 1060.
Bottom line is the overall trend has definitely shifted to BEAR territory and therefore buying of dips is no longer an intelligent strategy.
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Thursday, January 28, 2010
SIRI
Out at $0.80 for a $0.15 ride. I hope you caught the bus and got off at the target stop. Should come back down to $0.74. If it holds there another long shot will be in order. If not, it will be back to $0.69
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GLD
Double bottom on GLD
Long ith stop at 105.10
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GMCR
The single packet coffe manufacturer on verge of breakout to 98.50. Missed the boat here, but it may come back below 83 for a second chance and a 15pt pop. Set your alerts now.
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$VIX
Nice long trade on the VIX:
Stop: 22.40
Target: 27.95
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Wednesday, January 27, 2010
SIRI
Move stop up to $0.70 - Target $0.79 and out with half - Let the rest ROLL
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$VIX
It's only Wednesday and it's ONLY FED speak. The REAL story will be told by Friday. Looking for VIX to bounce hard off of 22.77.
Monday, January 25, 2010
SIRI
Buying more with a buy stop @ $0.72
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Saturday, January 23, 2010
$TNX
10 yr note at pivotal range and not able to break 4%. Still falling....
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Friday, January 22, 2010
SIRI - closer look 30 min
Look for the gap up to fill for a low of $0.67 and another buying opportunity with a stop below $0.65. This is an easy long setup with 10-15 cents of upside short-term.
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SIRI - update
Did you cash in on the Bull Flag? Here's your second chance @ $0.70
A break of $0.70 may be an opportunity @ $0.66
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Thursday, January 21, 2010
SPX
Trend break and support on 50 day sma @ 1114
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Wednesday, January 20, 2010
$SPX
Uptrend in jeopardy, but still intact. I'm sitting on hands for now. However, if you are bullish and a little nuts a long SPY trade with a stop below 112 would catch the run up to 1250 on the S&P. Otherwise, waiting for trend break to get short.
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MO
Dollar rising and MO falling:
Unexpected and counter to high yielding dividend stock. Could be short term top at 20.64
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GLD
Dollar rising and GLD falling:
As expected
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