closed entire bucket 2 long in MS
as per the email alert sent out on Friday, we closed the entire position in MS ahead of the weekend…the risk just seems a little too high for our portfolios.
Morning Thoughts Oct 6
After Tuesday’s massive intraday upside reversal traders yesterday were encouraged enough to step in with some follow-through buying. That has brought a number of the major U.S. and European equity indices into initial resistance areas in the near-term. On the S&P 500 hourly chart in specific we note that the 4% rally since Monday’s close […]
CSCO Bucket 3 Long Update
yesterday we added to our existing Bucket 3 long position in CSCO. The stock has been a long-time underperformer and after lagging all year on Monday did not make a new low for the year like the broader market did. the stock held support at the blue downtrend line and $15 support area. It looks […]
Today’s Morning Market Video Is Ready To Watch Now:
http://steadytrader.wpengine.com/video-2/video-october-2011/
Divergence in EUR/USD and Oscillators
interesting to note here…see the lower low in the EUR/USD posted earlier this week but how both stochastica and RSI did not make a new low? it's called divergence and it's a key thing to look for at bottoms.
First level to watch on CSCO to the upside….
is $16.90
WYNN Retesting The H&S Neckline
WYNN is retesting its neckline now for resistance. if this can hold as resistance the next swing should be towards the final target of $90. we remain in half of our original short position after taking profits earlier this week
Akamai Long-Side Try
AKAM is coming into a huge level here. the downtrend from January (blue line) and the 50 day moving average are right here right now. $23 is horizontal resistance and if we can overcome that on a solid daily closing we would consider going long. also note the gray zone…a gap, that could fill nicely.
Profit Taking in MS and IWM
we closed our bucket 2 long position in MS for profits also took half off of our IWM Bucket 2 long position for profits
Multi-Year Breakout Near On Activision Blizzard (ATVI)
The weekly chart below of ATVI shows clear resistance at the upper downtrend line. we like this for a potential Bucket 3 long position on a daily close above $12.70 on solid volume.