Negative 30-50,OMG,RTI short soon, T,VZ
August 30, 2008
Sometimes too much info, That’s why I’m glad i found at least one signal on the two month charts that work. Otherwise the 2 month chart is just useless. Except for when a stock is caught between the 20 day and the 50 day. But that’s another blog.
Introducing the Big Wave Index by Gio
August 30, 2008
Aloha! I will be experimenting a swing trading system that I feel can produce good results for swing traders. Inspired by the IBD 100’s design, which means every week I will update this list. You can view the list on the right of this post on my sidebar.
Goal: My goal for this index is so that you divide a portfolio into at least 6 positions based on 10 technically favorable stocks to choose from, and come out with an average return of at least 2% a week. Wouldn’t that be insane?!
Stocks Slip as Traders Limped into the Holiday Weekend
August 30, 2008
After a dismal report out of DELL Thursday night technology stocks took the que and sold off. AAPL and GOOG both slid dragging down the NASDAQ 100 with them. Once again crude oil continue to fail to hold onto its day high. As crude pulled back from its highs it eased the pain for stocks and assisted them off the lows of the session. Both stocks and crude oil are acting bearishly, most notably crude oil over the past few weeks is EXTREMELY BEARISH. The market has largely ignored any rumors coming from the banks about possible write downs in the near future. With LEH reporting in September it will certainly set the tone for other Brokerage Houses’ earnings reports. This past week has been traded on very little volume its price action has certainly shown its true colors. Price action is looking very bearish, this market remains suspect and until we get volume in either direction we’ll be stuck in limbo.
Trying to make a stand on this market either bullish or bearish is extremely dangerous. Low volume markets do not support any trend; bull or bear. In fact, this confirmed market rally has failed to show the type of volume needed to support a new bull market. Price and volume are most important when gauging a trend in the market. If the two do not move in tandem, the direction price is moving may not be sustainable and caution should be exercised.
Weekly performance, ending 8/29/08 2 Winners 4 losers
August 29, 2008
Winners
CY comparison, Ascending triangle
August 29, 2008
Really Tasteless Video
Ascending Triangle, If someone posts a chart like this at another blog site, leave a link over here, thanks.
CY I posted this 8-15, I’m still watching OA’s picks. Trying to figure out the entries to his weekly watchlist. His triangle method of trading is impressive.
I had to redo his original you-tube video chart myself, cause he doesn’t use the expand screen option on his you-tube video’s so I cant screencap his original chart. Makes my life that much harder, when he does that.
Introducing the Big Wave Index and Wave Trading System by Gio
August 29, 2008
Aloha! I have been experimenting a swing trading system that I feel can produce good results for swing traders. Inspired by the IBD 100’s design, which means every week I will update this list. You can view the list on the right of this post on my sidebar.
Stocks Get Bullish Action, but Volume Remains Below Average
August 29, 2008
Stocks stage a bullish rally on Thursday as volume crept higher than the previous day. The NYSE was finally able to retake its 50dma on higher volume. However, volume across the board was lower than its 50dma suggesting that large institutional support was absent from Thursday’s action. A bigger story on the day was the tremendous reversal of Crude Oil. Hurricane Gustov has its eye set for the Gulf, but Crude couldn’t sustain its bullish move. This is a clear sign the path of least resistance is to the downside. Overall the market had its first bullish tone since the beginning of the confirmed market rally. We’ll certainly need to see the market build upon this, but I am not overly optimistic it will occur.
Heading into the holiday weekend I expect trading to be light and probably will yield very little in terms of market direction. It should be a 1/2 day worth of trading but NYSE needs to make money. Enjoy the day and enjoy the Labor Day weekend! Be safe.
TIVO
August 28, 2008
TIVO has been on a rampage. Price, volume, RSI, MACD are all very strong. Under the surface, though, we have unusually high put volume growing… [cue Jaws music]. Yesterday TIVO reported it had returned to profit in the second-quarter, citing progress in rolling out services in U.S. and foreign markets. The company said Q2 net income was $2.9 million, or 3 cents per share, compared with a loss of $17.7 million or 18 cent per share in the year-ago quarter. For those interested in the name, it’s worth seeing where the money is flowing.
Escaped with $40
August 28, 2008
I placed a little pre-work trade in SKF. The financials gapped up but then started to fade. To “fade the gap” I went long SKF which showed a nice uptrend on good volume and a rising MACD. At $124, volume really started letting up, which told me buyers were drying up. Rather than chance it, I took a quick +.20 point gain for $40 in profit. You might scoff at this piddly sum, but with it I can buy: 30 bars of sex wax, 8 boxes of chicken McNuggets, a Titanium 21″ crowbar, or a pair of Rogue Trooper Mirrored Aviator Sunglasses. Now who’s laughing? 
CY comparison
August 28, 2008
CY I posted this 8-15, I’m still watching OA’s picks. Trying to figure out the entries to his weekly watchlist. His triangle method of trading is impressive.
I had to redo his original you-tube video chart myself, cause he doesn’t use the expand screen option on his you-tube video’s so I cant screencap his original chart. Makes my life that much harder, when he does that.
Reuters Business- Stocks gain as hope rises for stimulus planNEW YORK (Reuters) - Stocks gained on Tuesday as bets rose on the likelihood of a government stimulus package after the release of minutes from the last Fed policy meeting painted a dismal picture of the U.S. economy.
- Home sales tumble to 7-year lowWASHINGTON (Reuters) - Pending sales of existing U.S. homes dropped to a seven-year low in November, data showed on Tuesday, as rising job losses and a deepening economic recession kept potential house buyers on the sidelines.
- German tycoon Adolf Merckle commits suicideBLAUBEUREN, Germany (Reuters) - German billionaire Adolf Merckle has committed suicide, in despair over the huge losses suffered by his business empire during the financial crisis, his family said on Tuesday.
- Stocks gain as hope rises for stimulus plan
- Market Watch
- Apple makes final appearance at MacworldApple Inc. begins its swan song at the Macworld Expo with the absence of Chief Executive Steve Jobs hanging over the proceedings, as the company unveils changes in pricing and copy protections for songs available through its iTunes store.
- Energy Stocks: Exco Resources, Chevron move up as gains continueEnergy stocks get carried higher as crude-oil futures breach the $50-a-barrel level.
- Tech Stocks: Semiconductor stocks lead sector rally; Apple slidesMost technology stocks post gains as the broader market advances on a rally in energy shares.
- Futures Movers: Oil ends lower on economic concerns, after topping $50 a barrelCrude-oil futures close lower for the first session in four after earlier rallying above $50 a barrel, as demand concerns rekindled by downbeat economic data outweigh signals that the OPEC cartel will move forward with production cuts.
- Life insurers jump as market stabilizes, easing capital concernsSAN FRANCISCO (MarketWatch) - Life insurance shares jumped Tuesday, led by Prudential Financial, as capital concerns were eased by the recent stabilization of equity and credit markets.
- Apple makes final appearance at Macworld