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Amazon.com (AMZN) Chart Breakout
AMZN has been a rocket ship after announcing earnings last week. Most notably it broke above the key resistance area of $192 on good volume. We are expecting a little consolidation here before the stock heads to higher levels.
Technology Sector (XLB) Almost At New Highs
If you measure the technology sector by the popular SPDR ETF called the XLB, the sector is not only 25 cents away from new 2011 highs, but also from fresh 3.5 year highs. From a technical analysis perspective the inverted head and shoulders pattern (see white bubbles on chart) is working out well and if […]
Do You Know How To Take Advantage Of Big Drops In Stocks?
If you don't, in the Trading Plan we lay out a high probability strategy using options. The strategy works over 75% of the time when a stock had a big drop. Get your copy of the Trading Plan if you're interested in this and other high probability trading strategies. Happy Trading Serge WWW.THESTEADYTRADER.COM
BJ’s Wholesale Club (BJ), Beauty Of A Chart Breakout
We are looking at BJ as a potential bucket 2 long trade for next week. The chart speaks for itself. A private equity firm is said to be bidding for BJ ($3 billion plus), so take that into consideration. More on this tomorrow.
Today’s pre-market video is available shortly here:
http://steadytrader.wpengine.com/video-2/
MCMoran Exploration (MMR) Potential Long
MMR has been holding up well and after consolidating some over the past few days looks to have found solid footing to move higher. If the stock can hold above $18.40 I will add to my longs and move the stop to $17.50 with a target near $20.
Ford (F) Is Building A Solid Base, Looking Long
Ford has had a great run off the bottom in first quarter of 2009. To be exact the stock rallied from $1.5 at the lows to $19 in January of this year. Since the highs Ford pulled back and found solid support at the 200 day moving averagee (red line). More recently Ford broke […]
Looking Short On F5 Networks (FFIV)
After putting in a fairly dramatic blow-off top in January 2011, FFIV has been taken to the cleaners more than once. A hard sell-off on January 20 gave way to a classic dead-cat bounce that further send prices to new lows on March 22. See weekly chart. On the daily chart we note a small […]
Lightening Up On long inventory into the weekend
I'm in the process of lightening up on long inventory into the weekend. taking initial profits on PCX among others. Thinking that some profit taking is in order next week.