Category: Uncategorized
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Chart: $SPX: Are We Ready for a Pullback?
Take a look at the S&P 500 ($SPX) over the past 3 years. It cant’ be this easy, can it? The envelope suggests you buy at the bottom and sell at the top of the envelope. The market looks overbought and ready for a pullback. A break of 1325 might…
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Chart: SINA
One stock at the top of my watchlist is SINA (sina.com). The stock is pulling back on low volume after a high volume breakout. Note that the 50 day moving average is about to cross over the 200 day MA. The last time this happened the stock gained three points…
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Watchlists, Positions and Song from the Playlist (Nouvelle Vague)
Unfortunately I don’t have the time to post charts tonight. However, here is a list of stocks I’m watching: TIE, BOOM, HAL, CMC, GG, GLD, LEN, DHI, PMTC, BLUD, PSYS and CTXS. Long positions include: HOV, VLO, STLDShort positions include: EWZ, NVDA Off Topics:There’s something hypnotic about this clip. French…
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VLO and EWZ
I’ve had a ton of meeting over the past two days, hence the lack of posts. I’ve made a few trades, including a long position in VLO and an EWZ short. I’ll update my trades tonight.
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Chart: EWZ
I may short EWZ (Brazil iShares) if it breaks down below the 50 day MA at $38.99. Note the lower highs and volume on the decline versus the rise.
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Stick to Your Guns
“It is dangerous to be right in matters on which the established authorities are wrong.”–Voltaire I am currently reading Hedgehogging by Barton Biggs, and a story he told made me think of this quote by the great French author and philosopher, Voltaire. During the height of the tech craze in…
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Chart: DHI
Intellectually my mind is telling me to steer clear of homebuilders, but how can I ignore the charts? Almost every homebuilder is showing a nice bottoming pattern with a breakout and pullback to support. Take a look at this chart of DHI (Horton Inc. D.R.). We have a steep decline,…
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Trades, Volume Spread Analysis, NVDA and STP
Yesterday I went short 600 shares STP (Suntech Power Holdings Co.) at $25.77. The bearish engulfing pattern worked out great, so I sold 300 shares at $24.75 for a $300 gain (+4.1%). I’m still short 300 shares, although the stock is showing a little strength this morning. According to Volume…
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Today’s Trades (AMLN and AAPL) and Chart (STP)
I covered the remaining 300 shares of AMLN at $42.20 for a $495 gain (+3.7%). The total gain for the trade was $825. I covered the all 300 shares of the AAPL short at $73.75 for a $540 gain (+2.4%). AAPL is close to strong support at $72.50, so I…
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Today’s Trades (GG, AMLN, AAPL), Time frames and Chart Voodoo
I sold my remaining 150 share position in GG at an average price of $23.75 (entry at $21.71) for a $306 gain (+9.3%). The total gain on the position was $714. I went short 600 shares of AMLN at an average price of $43.85. I featured this stock’s chart in…
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Charts: AAPL, MT, OIS, AMLN
Although the indices are above support, I’m having a heckuva time finding long candidates. Here are some charts from my short watch list: AAPL (Apple Computer Inc.)This one’s a risky play, as AAPL is in the midst of an uptrend. However, RSI and MACD are not keeping up with the…
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The "Completely Uncalled For" Guys Sign With NBC . . .The Power of YouTube
Many of you liked the “Completely Uncalled For” clip I posted last week. Well, the two students from Gonzaga University, BaratsandBareta, just signed a production deal with NBC. These guys are doing better stuff than anybody on Saturday Night Live, so thank god for the newfound power of YouTube. Check…
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Market Scribbles and a Clip
During the trading day, I am not at the computer for long stretches. Therefore, I keep a written journal in which I scribble notes. Here are today’s scribbles copied from my journal, which may not all make sense since they are notes to myself: Many energy, metal and gold stocks…
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How to Play Energy: XLE and Stochastics
XLE has been an easy play over the past year. You buy when the stochastic hits oversold extreme levels and sell when it gets overbought.
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Today’s Trade: GG. The Market. And the "Angry Professor" Clip
I sold 200 shares GG at $23.75 for a $408 gain. I still own 150 shares. I am still have my long position in FLIR. We’ve all heard the media pumping the market highs crap. We as traders know that the market is not as great as they make it…
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Quotation: Jesse Livermore on Self Confidence
“A man must believe in himself and his judgement if he expects to make a living at this game.” -quote from legendary trader Jesse Livermore. I keep this quote, along with many others, by my desk to make sure I trust my own analysis. In the past, and even now…
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Today’s Trades: GG, STLD and FLIR
Those candles I pointed to last night did exactly as expected, and I couldn’t be happier. It was a frantic morning for me, trying to keep up with the strong open for many, many stocks in these two sectors. GG had a strong day and may have more bounce left.…
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Charts of FWLT and T, Along with Discussion of Sectors Printing Hammers and Divergences
Many of the beaten down sectors printed hammers (candles with long tails that close near the high of the day). Hammers can signal the reversal of a downtrend, as buyers jump in after the weakest hands have been shaken out, especially if the hammer prints at strong support. The prudent…
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Today’s Trade: GG
I’m seeing some of the same divergences in gold stocks that I posted in HAL last night; specifically stochastics, MACD and RSI all moving up while price has moves down. I decided to take a position in GG instead of HAL since PBV bars in GG indicate support close to…
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Chart: HAL
RSI, Stochastic and MACD divergences could mean HAL (Halliburton CO.) is ready for a short term bounce.
Paul J Singh 