What is it about this chart that wants me to short it?
Isn't there just something about this chart that makes you want to short it? maybe that's exactly why we should't
USD/JPY Long Trade Is Starting To Pay Off
Last week (March 21) I discussed a trade in the USD/JPY to the long side. The rationale had to do with a very clear candlestick bottoming pattern. The trade involved buying the YCS, which is a double ETF of the USD/JPY exchange rate. Today, exactly one week later, the trade is starting to look nicely […]
Semiconductors (SMH) May Trade Lower
After trading up in a nice and night upward channel from September 2010 until early March of this year, the semiconductors swiftly sold off by the tune of almost 10% in just eight trading sessions. From quick move down, the SMH has now retraced (moved up) a little over 50%, which also coincides with the […]
Today’s pre-market video is ready to view here:
http://steadytrader.wpengine.com/video-2/march/
Is Sohu.com (SOHU) About To Rally?
SOHU didn't really participate in the huge rally of BIDU and SINA last week. The question is will it catch up with its peers. It may be a little to early to tell, but looking at its chart I see a bull flag developing (read; higher prices).
Copper Looking For Further Upside
I just wanted to reiterate this: Copper is often being looked to as a leading indicator for global economic growth. Whether that's true this time around or not is fairly irrelevant for my note here. Looking at the chart below I note a downward-trending channel that Copper is now looking to break out of to […]
Best Buy Just Broke A Multi-Year Support Level
Why? Weak earnings and a downgrade to 'sell' from Citigroup. Price action? See the chart below and notice the break below multi-year support at $31 this week. How much lower can it go? I see $25 as a next target.
Russell 2000 And Small Caps Outperforming
See the chart below, the Russell has managed to rally 6.5% over the past 8 trading sessions, compared to aa 4.5% rally in the S&P 500 over the same time period.
Today’s pre-market video is uploaded. Watch it here:
http://steadytrader.wpengine.com/video-2/march/
Williams-Sonoma (WSM) Breaking Higher
After a big rally on the back of stellar earnings and outlook on March 15, WSM has been consolidating in what looks like a bull flag. Yesterday it broke out of the the bull flag, giving me reason to believe now might be a good opportunity to enter a long trade. I am considering this […]