Oshkosh Corp Horrible Weekly Chart
Oshkosh Corp. (NYSE:OSK) designs, manufactures and markets specialty vehicles such as defense trucks, access equipment, emergency vehicles and more. In early July billionaire investor Carl Icahn disclosed that he holds a 9.5% stake in the company. As usual in such cases Icahn plans dialogues with management about increasing shareholder value. This would all be […]
Weekly Chart of Oil Broken!
Why A Trading Plan Is Essential For Trading Success
Without a clear trading plan no one can make money consistently. A trading plan allows the trader to execute his/her trades in a consistent manner and without letting emotions get in the way. Clear entry points, stop-loss and profit targets are predefined by in the trading plan, allowing the trader to focus on execution […]
Today’s Morning Market Video is uploaded and ready to watch here
http://steadytrader.wpengine.com/video-2/video-may-2011/
Gilead Sciences, A Technical Look At A Biotechnology Stock
Gilead Sciences (GILD) has come on my radar now from two sources that find the stock fundamentally sound and management great. After looking at this myself a little deeper I am ready for some technical analysis on it. I'm usually careful with pharmaceuticals and biotechnology stocks simply due to the FDA approval/non-approval risk but if […]
Where Could The S&P 500 Bounce?
The obvious levels for support or at least a good bounce on the SPX are $1344 ish and $1340 ish. See the two red lines that previously served as resistance and got broken to the upside in late April. In a worst case scenario we would go as far as saying that as long as […]
Silver (SLV) Coming Into Support Zone
Silver's real parabolic move started at the end of January. Looking at the below chart I note that the area between $37 and $38 serves as a) the 50% retracement from the low to the high of this move and b) where the 50 day simple moving average comes in. Both of those items often […]
Open Table (OPEN) Option Trade
After announcing earnings last night, as well as the departure of their current CEO/President, the stock is getting punished today…currently down about 14% on the day. The stock rose almost 400% from the beginning of 2010 to just last week and sports a current P/E of 155. As such the stock certainly was and still […]
Research In Motion (RIMM) Head & Shoulders Playing-Out
As discussed early morning today in the pre-market morning video (http://steadytrader.wpengine.com/video-2/march/), RIMM is in the progress of playing out a classic head & shoulders pattern. See chart below. The target is just north of $51. Several things make this head & shoulders pattern nice in RIMM. Note the consolidation period around the 200 day moving […]
Near-Term S&P 500 Levels That I Am Watching
Support Levels: 1329, 1325, 1320 Resistance Levels: 1336 – 1338, 1345