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 […]
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 […]
Near-Term S&P 500 Levels That I Am Watching
Support Levels: 1329, 1325, 1320 Resistance Levels: 1336 – 1338, 1345
Trader’s Lunch:
Apple (AAPL) Is Setting Up For A Long and A Short Trade
Apple (AAPL) has been making lower highs and lower lows over the past six weeks or so, as noted on the daily chart below. Why is this important? AAPL is one of the most widely held stocks and as such one of the most widely followed companies. Its stock price for the past few years […]
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 […]