Tuesday, July 10, 2007

 

AMX - Reader's pick


j.M, It looks to me like it's broken the upward trendline. I won't say it's a short candidate, but I would like to see it go above the trendline.
The past month it's formed a series of higher highs and higher lows, which is good. Below 60 could be bearish for this though.
Thoughts welcome.

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Comments:
AJ,

that chart speaks volumes, thanks! i will still watch though. you are much better at reading charts and you make a great point. the problem with my option picking method is that my average hold time is like 32 days (i think). we'll see how today shapes up, i might sit on the sidelines for a bit until i see what the market will do. i'm hoping to get a quick pop out of WFR so i can sell...

you buying today?

j.M
 
AJ,

here's one that's on my weekly watch list but it's nowhere near oversold (obviously). Cramer pumped it last night, it's fairly inexpensive on a PE basis, MACD looks good and it might be a good way to get in on the RIO play that i missed:

http://stockcharts.com/h-sc/ui?s=TCK&p=D&yr=0&mn=6&dy=0&id=p18395761551

or...this one. getting towards oversold, should bounce off support and an oil play which has gotta be good for a short while at least:

http://stockcharts.com/h-sc/ui?s=ESV&p=D&yr=0&mn=6&dy=0&id=p84378659365

i'll buy one of these tomorrow.
j.M
 
j.M,
Be careful of Cramer recommended stocks :)

ESV does look like it's at the lower end of the trend channel, but it went down today on above average volume, so be careful.

Good luck on your trade tomorrow.
AJ
 
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