Home Depot getting smacked down as it excemplifies the retailer and home builder sectors. Tough to be a bull here and easy to wait for bounces up to sell into.
For the Web's best interactive charts, please visit http://www.Prophet.Net
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, October 31, 2009
HD
Home Depot getting smacked down as it excemplifies the retailer and home builder sectors. Tough to be a bull here and easy to wait for bounces up to sell into.
For the Web's best interactive charts, please visit http://www.Prophet.Net
EUR/USD
Euro/USD to sells off to secondary trend but still bullish.
For the Web's best interactive charts, please visit http://www.Prophet.Net
GLD
Long GLD
stop = 101.59
Short term Target = $105.50
Intermediate Target = $ 115.00
Long term Target = $ 130.00
For the Web's best interactive charts, please visit http://www.Prophet.Net
Friday, October 30, 2009
MET
MetLIfe finding resistance at 37.76 or the 50% fibonacci retracement level.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Thursday, October 29, 2009
NFLX - Bull flag agian?
Waiting to see the low $50 levels to get long.
For the Web's best interactive charts, please visit http://www.Prophet.Net
S&P
Break of trend, but may not be ready to roll over & die just yet.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Tuesday, October 27, 2009
MO
The rise in the dollar is having an affect on diviend yielding companies like MO so be careful as the dollar runs into heavy resistance the toward the end of the week. This 60 day 1 hr chart clearly shows support and resisance levels and a break below 17.80 leaves ALOT of white space below.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Monday, October 26, 2009
UDN - Another look the opposite way
Dollar down secondary break
For the Web's best interactive charts, please visit http://www.Prophet.Net
Saturday, October 24, 2009
MO
Weekly chart showing a bearish engulfing reversal pattern. A lot of support at the 17.45 mark but a break there could mean next stop 16.50.
For the Web's best interactive charts, please visit http://www.Prophet.Net
GS
May be stalling at 195 resistance to form shoulder to 162
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BAC
Banks looking weak and breaking trendlines.
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AMZN breakout tradable
So much for shorting AMZN above 95. It goes to show that you can't trust beating previously weak earnings. The 110.62 mark designates the gap up and the new line in the sand. It's safe to be long above this point long term with a target of 160. However, a failure of this mark would definitely mean a gap fill below the 100% fib line and most likely to 85. Can you say speculative out of the money play using leaps?
Jan 2011 $160 Calls = $7.70
Jan 2011 $85 Puts = $7.45
For the Web's best interactive charts, please visit http://www.prophet.net/
Wednesday, October 21, 2009
MO - Monthly
Shows why 18.35 level is so key.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Monday, October 19, 2009
Friday, October 16, 2009
Thursday, October 15, 2009
AMZN
It's getting close to AMZN short time.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Dow 10k
Selling longs into strengh with a goal of being completley into cash by year end.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Monday, October 12, 2009
SPY
NO VOLUME. Tomorrow should be interesting.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Sunday, October 11, 2009
MO - Interesting Option activity
Check out all the Open interest on the Call side of Altria. I found it very interesting on the bottom row in particular.
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This leap may be the best deal and here's why-
The government has been keeping rates low and therefore the Dollar continues to fall. Why would an investor use falling dollars to get more at this point? But that will all begin to change in the first quarter of 2010. So why wouldn't an investor be MORE inclined to invest in higher yielding dividend stocks as rates are rising in the next year? $0.35 for 467 days at $22.50 last years high - That equates to a little over $1000 to control 300 shares.
The government has been keeping rates low and therefore the Dollar continues to fall. Why would an investor use falling dollars to get more at this point? But that will all begin to change in the first quarter of 2010. So why wouldn't an investor be MORE inclined to invest in higher yielding dividend stocks as rates are rising in the next year? $0.35 for 467 days at $22.50 last years high - That equates to a little over $1000 to control 300 shares.
Saturday, October 10, 2009
GS
If Goldman Sachs is leading the market the next few ETF charts explain a VERY bullish case. Even more the reason to be cautious.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Friday, October 9, 2009
RIMM
If you were scared to get RIMM long on the 200 day EMA bounce you have 2 more chances to get in:
Buying more on breaks above:
69.20
71.42
Setting tight stop $0.06 below yesterday's low = $67.54
For the Web's best interactive charts, please visit http://www.Prophet.Net
Thursday, October 8, 2009
Wednesday, October 7, 2009
Great post from Traderfeed
http://traderfeed.blogspot.com/
Bottom line when you are WRONG in ANY relationship it costs until YOU change your way of thinking and adapt to the situation.
Bottom line when you are WRONG in ANY relationship it costs until YOU change your way of thinking and adapt to the situation.
Tuesday, October 6, 2009
AAPL
Hmmm, am I seeing things? AAPL sporting a similar pattern to the tech bubble bust on a monthly. Notice the difference in volume and that:
Oct 07 - up
Nov 07 - Down
Dec 07 - Up
Jan 08- oops
Is it uncanny that AAPL is at the identical price it was in October 07?
Shorting a few out of the money above $192 and will add more as approach 200-202.
For the Web's best interactive charts, please visit http://www.Prophet.Net
VZ
Long
29.90 stop
target = 32.05
For the Web's best interactive charts, please visit http://www.Prophet.Net
GLD
BREAKOUT!!!
Take some profits and look for retest of 100.45 area as well as secondary uptrend in green.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Monday, October 5, 2009
EUR/USD
Euro pulling the market higher as the dollar falls.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Friday, October 2, 2009
GLD
All this talk about currencies devaluing nationally and internationally leads creedence to the MASSIVE inverse H&S pattern on GLD as seen in dotted red. One way to derive a target from this pattern is to draw a line from head to neckline as seen in green, duplicate it and then move it to the top of the necline as seen in green again. Curiously, that matches up with a fib fan line as well as a longterm Fib 161.8% line for a target of 130-135.
Okay, from 65 to 95 took a year, will 100 to 135 take a year?
FYI: Jan 2011 $110 Calls cost about $6.60 per contract.
That's 456 days with a stop below the 20 week SMA 94.20 as a break would negate the pattern.
Thursday, October 1, 2009
Stockpickers Quarterly Update
Bruno has made an astounding move to catch up and bring the Long category within 1% in the 3rd quarter. But getting creamed on the Short category for now as AMZN's upward move may be coming to an end this quarter.
POT
Trying to pick up some POT below $87.50
For the Web's best interactive charts, please visit http://www.Prophet.Net
Wednesday, September 30, 2009
$SPX
Why the range 1040-1080 is so important.
If you run a Fib retracement between the linger term Fib lines of 1014 and 1121 you can get an explanation of the latest price movements:
1080 and above is top third
1067 is the middle
1040 and below is lower third
Remember sideways action is also consolodation and can be viewed as Bullish.
Bottom line it is dangerous to get outright short until 1040 is solidly broken and even then suppot lies very close at 1014.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Tuesday, September 29, 2009
Monday, September 28, 2009
GLD - nibbling short-term
Phasing in short-term on GLD at 96.97 95.25, & 93.90.
For the Web's best interactive charts, please visit http://www.Prophet.Net
$TOBACO
For those of you holding MO (Altria) I stumbled across this Tobacco indusrty index which goes back to 2000. Very interesting on a weekly showing major support and upward trendline extension for another 10%. Also note that last weeks downward push was nothing but a gap fill from 3 weeks ago to the previous weekly high 5 weeks ago. Folks this is VERY BULLISH and tells me that MO below 17.50 is a steal for the move to 19.50 which could take 3-6 months. Those $17.50 Dec Calls bottomed out at around $0.52 on Friday and I plan on continuing to add on the lows and may pick up some in the money July 2010 if the price is right.
For the Web's best interactive charts, please visit http://www.Prophet.Net
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