Short Opportunity In Open Table (OPEN)
I see an opportunity for a quick bucket 2 short-side stab in OPEN . Today left an ugly looking bar on both daily and weekly chart after a downgrade from Citi. Stops could be placed around $109 and a profit target near $100.
S&P 500 Indecision Marked With 3 Dojis
Note the three doji candles the past three days. If you're not familiar with candlesticks, a doji essentially shows investor indecision. The question becomes whether these three indecison days in retrospected ended up being consolidation days or whether they will have meant that investors were getting nervous about the potential government shut-down and earnings season […]
Update on Research In Motion (RIMM) Short
On Monday I wrote about a head and shoulders setup in RIMM with a profit target near $51. See here: http://steadytrader.wpengine.com/research-in-motion-rimm-head-shoulders-playing-out/ Today RIMM is rallying to the tune of 2.50% as of this writing, and as such is putting a feelski on the 200 day moving average (red line) from below (no pun intended). I am […]
Silver Wheaton Corp (SLW) Ready To Rally
SLW looks ready to party higher after breaking out above the previous $46 level resistance. Today's consolidation thus far looks healthy and for me an opportunity to add a little.
EUR/CHF Breakout. What Does It Mean?
Note the break out of a 10 month downward-sloping trend line in the EUR/CHF exchange rate. Not only that, but the Euro (EUR) is also crossint the 200 day moving average against the Swiss Franc (CHF) for the first time since October 2009. While this may reflect the strength the Euro has been exhuberating against […]
Today’s pre-market video is ready to watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/