Wednesday, February 23, 2011
Got a nice drop today but again need confirmation that the move is down. We came threw a key support in 132.56 but must stay below that n a closing basis on Wed. there is a 2nd trend line marked in orange I like to see break then I think we can get some downward direction and test the green trend line.
Tuesday, February 22, 2011
Now here is my video for those who prefer it then the written
Tuesday, February 15, 2011
Sunday, February 13, 2011
This my interpretations of technical charting and if you decide to trade you should contact a professional investment consultant before making any trades.
We broke the 2000 highs on Friday but I always like another day to confirm the break. Vol is still low the Fed still playing the QE2 game so I am still kinda neutral here to see what Monday brings at a close to see where we go from here.
Friday, February 4, 2011
Again this is my interpretation of technical charting and anyone looking to trade should consult a investment consultant before making any trades.
Again this is my interpretations of technical trading and you should consult an investment consultant before making any trades
Well short term missed the big move. I was hoping OPXT would have pulled back to the 1.75 area where I was gonna start a position but others thought it was a good bet and moved it up 29% today. The one lessen I have learned is never chase so I will let the short term trade go because I am still worry of the SPY hitting the 132.56 resistance and this market pulling back
But longer term ( the 2nd chart is a 5 year weekly chart) I still like this stock because the longer term pattern is very bullish. I would like to see some consolidation here for a week or two, have the market at a whole pull back the 5 to 10 % that everyone is looking for then I will be all over this stock A pull back to the 2.08 will be were I will look to pick this stock up now.
Tuesday, February 1, 2011
Well my last comments yesterday no confirmation on the SPY I wouldn't trade this market. I wish I had listened to my own words. I tried to scalp the SPY on a day trade and lost 10 cents, THANK GOD FOR STOPS. Famous last word, the stop saved me another 20 cent lost but the big thing is I didn't listen to my own word and that the pivot was not confirmed, and the markets rallied to new highs. We broke 130 mark so next support will be even number 131 then my big support is 132.56 the 2000 highs shown on the chart below.Low vol again under the 250 million mark again and the markets go up. Now that we broke 130 it now becomes support. If we break that then next support is that 127.17, But again lets not get to far ahead of our self specially in this market.
This is my interpretations of technical charts and consult a investment specialist before making any trades.