A few stocks I am watching:
Ford is catching my attention. This is a zoom of the all time chart and captures the swing high from 1999 and the low from March 2009. The stock is trading right at the 23.6% fib line at $7.40. The stock is also trading near its 50 day SMA [...]
This post is really for those individuals that have a bearish long term view but also desire to participate in the rally. Put another way, what is a reasonable plan for getting long the market but being the first one off the train when it goes off the tracks?
The first part of my plan was [...]
Tonight I’m weighing the evidence. A bull case and a bear case. I’ll let my readers be the judge.
Bullish
- SPY broke key resistance at 800
- DIA broke key resistance at $80
- QQQQ broke key resistance at $31.80
- XLI broke above $20 on good volume. It tested $20, pulled back on low volume and then [...]