EUR/USD Head & Shoulders Pattern
I posted this chart earlier today but it is worth pointing out again. What's at work here is a 14 month long head & shoulders pattern in the EUR/USD. If it works out text book it should fall to the 1.20 area at the very least. We may start building a short position in FXE […]
Silver – A Level To Watch
Much like Gold (GLD), Silver (SLV) has a wedge pattern on its chart. Unlike gold however the SLV looks heavy…i.e. the chances of a break lower seem higher than in Gold. A solid daily close below the $29.80 level in the SLV may just give us a better entry level for a downside trade.
Portolio Holdings Nov 8
Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 WYNN 31-Oct short cons cyc 133.13 141 128 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX 7-Nov long 63.04 60 65.5
Morning Thoughts November 8
After showing resiliency the second half of last week the market again did so yesterday. The chart of the S&P 500 shows this best: In addition to teh wedging formation on chart yesterday (see blog post from yesterday), there is also horizontal resistance hera at 1261. A good push above here could easily get the […]
Bucket 2: Long-Side On NFLX
We discussed this one last week but now looks at a better entry point given where the broader market sits. The first gap that comes into play here to the upside is from right here right now up to around $110.
Bucket 2: CREE Long
Last Friday CREE broke its 2011 downtrend to the upside and currently ist trying to establish itself above there. It looks juicy for upside with a first target around $34. We will notify subscribers if and when we enter the trade.
Bucket 2: We Are Long SPY
We are long SPY at $127.25 Profit target around 129 but would likely take the cue off teh S&P 500 itself, if it gets near 1300 we would certainly take full profits. Stops are near 124.50 Don't feel entirely comfortable with the trade but we sized it accordingly.
Walgreen (WAG) Two-Sided Opportunity
Walgreen Co. (NYSE:WAG) with its nearly 7000 drugstores and specialty pharmacies has a firm grip on this industry. Fundamentally speaking the company is keeping up its sales momentum despite the economic slowdown. The weekly chart looking back to 2007 shows the uptrend off the bottom in 2009 is still very much in place although […]
Research In Motion (RIMM) Upside To Fill The Gap
Shares of handheld device maker Research In Motion (NASDAQ: RIMM) have taken a hard stumble since its most recent high back in February. The stock fell from $70.54 all the way down to a $28.82 in mid June and as such is currently back at levels last seen in 2006. Of course some of […]
You Need A Trading Plan
You say : Trading Plan? We say: You cannot trade without one Consider our trading plan: 10 different high-probability trading and investing setups 25 colorful charts describing each setup visually How to setup your charts for each trade setup Where to place profit limits and stop orders How to manage risk in each trade […]