Consumer Staples Leading, What Does It Mean?
Since the beginning of April the defensive sectors such as Healthcare have outperformed the more cyclically exposed sectors such as Technology even while the S&P 500 was lifted to fresh 2011 highs. While that's an unusual occurence, dwelling on past facts is useless. The more pressing question is what this could mean going forward. […]
Dominos Pizza (DPZ) Huge Gap Above
Check out the ginormous gap on the chart below. If DPZ starts putting a dent into that puppy you can see, it could work all the way up to $31. Obviously this ain't your run of the mill gap so it a) will take time and b) given the enormity of it should be looked […]
Silver Crash And More…Friday Afternoon Rambles
It's been a seriously tiring week and I for one am ready (and have been for a few hours) to put my keepe in a resting mode for a solid 36 hours at least. The S&P 500 as well asl the rest of the major equity indices had a volatile time to say the least. […]
Update on Research In Motion (RIMM) Short
On Monday I wrote about a head and shoulders setup in RIMM with a profit target near $51. See here: http://steadytrader.wpengine.com/research-in-motion-rimm-head-shoulders-playing-out/ Today RIMM is rallying to the tune of 2.50% as of this writing, and as such is putting a feelski on the 200 day moving average (red line) from below (no pun intended). I am […]
S&P 500 Indecision Marked With 3 Dojis
Note the three doji candles the past three days. If you're not familiar with candlesticks, a doji essentially shows investor indecision. The question becomes whether these three indecison days in retrospected ended up being consolidation days or whether they will have meant that investors were getting nervous about the potential government shut-down and earnings season […]
Short Opportunity In Open Table (OPEN)
I see an opportunity for a quick bucket 2 short-side stab in OPEN . Today left an ugly looking bar on both daily and weekly chart after a downgrade from Citi. Stops could be placed around $109 and a profit target near $100.
Today’s pre-market video is ready to watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
EUR/CHF Breakout. What Does It Mean?
Note the break out of a 10 month downward-sloping trend line in the EUR/CHF exchange rate. Not only that, but the Euro (EUR) is also crossint the 200 day moving average against the Swiss Franc (CHF) for the first time since October 2009. While this may reflect the strength the Euro has been exhuberating against […]
Silver Wheaton Corp (SLW) Ready To Rally
SLW looks ready to party higher after breaking out above the previous $46 level resistance. Today's consolidation thus far looks healthy and for me an opportunity to add a little.
Buy Wish-List
Our buy wish list for next week – should we get a buyable pullback: SPY, OIH, APKT, CAT, MMM