Update on Research In Motion (RIMM)
Yesterday we started analyzing a potential trade in RIMM to the long side, see the blog entry here: http://steadytrader.wpengine.com/research-in-motion-rimm-looking-at-gap-fill/ After hours yesterday RIMM came out with a fairly smelly profit warning for the current quarter, bringing the per share profit estimates down to between 1.30 – 1.37 from the previous estimates of 1.47-1.55. That's about a […]
Research In Motion (RIMM) Looking At Gap Fill
RIMM has been one of our prominent shorts for the past few weeks, and a position we finally closed early this week. The technical pattern in play was a classic head and shoulders pattern with a final target at $51 (note the dotted blue neckline on the chart). The stock seemed to have run out […]
Market Summary – April 27
This here is the martini-hour thoughts newsletter summary sent to premium members. I am posting it today on the public blog here as a sample, but without the charts. Enjoy! Wednesday, April 27 Just as we wrote in the morning line-up letter, the morning ended up fairly boring in terms of pure […]
Inverse Head & Shoulders In AMZN, SPX, And All Around!
For the sake of pointing it out but not so much because I want to play this….note the inverse head and shoulders pattern in AMZN. The neckline (resistance) is ust around $192, which by the way is also an all-time high for AMZN. The stock is up nicely today after announcing earnings last night, so […]
Today’s Agenda:
12:30 PM – FOMC Announcement 2:15 PM – Bernanke Press Conference Expect trading to settle down into a slow pace early on after the initial opening splurge of trades. All eyes will be on the above two events. Once the press conference is over we will watch the action before taking any meaningful trades. […]
Intel (INTC) Important Price Resistance Area
For the entire month of March and into early April it looked like semiconductors were trying to tell us something about their usually leading indicator ability, at least as it relates to ends of cyclical bull markets. All of that changed however, and not when Texas Instruments (TXN) announced the acquisition of National Semiconductor […]
Airline Stocks Looking Attractive For A Long-Try
United Continental Holdings had earnings last week, today it was Delta Airlines…the rally in airline stocks the past few days has been noticable. Oil prices are still on the rise yet the charts of select airline stocks have put in constructive bottoming patterns for the time being that leads us to enter longs for […]
Are Credit Card Companies Back On Investors’ Radar?
Visa (V), American Express (AXP), and Mastercard (MA) have continually alerted me with juicy shorter-term chart patterns as of late, so I decided it’s time to take a closer look at the fundamental side of things on credit card companies, and I found some good stuff. In the Mastercard example, credit volume is on the rise and international growth is […]
Ford Beat The Numbers, We Remain Long
We remain long Ford common stock and will start trading around this bucket 3 position with bucket 2 swing trades and the occasional bucket 1 intraday try. The stock is up around 3.8% in pre-market trading right now. The conference call begins at 9AM eastern, which we will be listening to. More updates to […]
Quick End Of Day S&P 500 Chart Looksy
Silver was about the most exciting thing happening today while stocks slapped around the unchanged mark, at least as measured by the broader indices. As such the SPX is still right at the resistance area near the 1337 area. This week is sure to bring some action soon enough with earnings, FOMC meeting, and […]