I am in the process of compiling a comprehensive trading blog list. If you have a blog and want it added to the list, please post your RSS feed in the comment section or email me (see About page). If you know of any blogs that you would like to see on the list, please [...]
MON caught my eye as a short term trade. RSI is currently at 23 and there is nice support in the 65-66 range. Even if the market remains soft, I think it is a pretty good bet that MON will bounce off support. I’m trying to get in at about $66.6.
I am looking for long [...]
AXTI is a long term cup and handle formation of the 5-year chart.
I like the 1-year chart as well. Price has tried to breakout over the $2.10 level a few times but couldn’t do it until today. Today’s move is also occurring on nice volume.
I’m still watching to pick a market direction, [...]
As I mentioned earlier in the week, my trading plan is to take things slow and avoid the whipsaw. Experience has taught me not to get overexcited by every little wiggle and to make the market prove itself. This week is a great example of slowing things down. On Wednesday, many were declaring a top [...]
I just added a long position in MOT. I really like this chart and marked it up. This is breaking out from a symmetrical triangle on nice volume. The volume in this stock has also been moving up generally. RSI is in a good area for an entry on a bullish stock at 60. [...]
I’ve added REV to my watchlist. REV has been stock under $6 for a year and was a former member of my junk long portfolio. The stock is breaking out today on strong volume. RSI is at 86 so I’m not willing to buy it here. However, if this consolidates into a flag pattern, [...]
The Shanda (SNDA) chart is catching my attention this morning. I expected it might bounce off the 300 SMA and retrace to horizontal support and the 200 SMA. However, I didn’t expect for it to take off like a rocket and completely retrace yesterday’s move in one day. So potentially there could be a [...]
All eyes are on the GDP number at 8:30 ET. If there is a big surprise in either direction, it could be market moving. I would consider a big surprise to the upside to be anything north of 3.2% (the consensus estimate) and a big surprise to downside to be anything less than 2.5% (briefing.com [...]
RIMM is highly followed and I had a reader ask me about it in an email. I mentioned a few weeks back about trading it after the big drop when it reported earnings. It is now sitting at an expected support level at about $61.
The fib line makes the support level clear. You can [...]
I’ve noticed anecdotally that the big caps seem to be outperforming the small caps stocks. It shows up in the charts as well. IWM is sporting a double top and has already broken its 50-day.
The dollar continues its rise (and UDN its decline) today confirming yesterday’s breakdown on UDN.
I already posted earlier [...]
