Saturday, January 26, 2008

 

A few charts for next week

It's still a pretty tricky environment to trade. When things look like the market will go up, it goes down and vice versa. Most of the charts that I'm seeing look like they're running into resistance, which were prior support areas. Here are a few charts that I felt could be worth looking into...





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Comments:
AJ,

nice move in DSX today huh? makes me want to sell here, especially since the indices are pushing up against resistance but i didn't. if it's up again today i might sell then buy is back cheaper?

hey, i actually made a good trade the other day on DBA calls. not a huge profit, in fact i sold a bit early, but i'll take it! i have 1 lonely PNRA put right now as far as options. i still have the bulk of my money in BND for now. i justcan't believe that ALL THE PROBLEMS WE HAD JUST A WEEK AND A HALF AGO are all gone now and stocks are going higher. i just don't think so but who the hell knows.

do you have any positions ahead of the fed (or after)?

j.M

GO PATRIOTS!!!! (WHICH IS MORE FUN TO SAY LIVING IN Philly NOW)
 
UPDATE:

i just took a look at DSX and put in a limit order to sell @ $28. looks like that area may be where the 50SMA, downward channel res and former support lines may all converge. we'll see what happens...

j.M
 
Looking back, shippers were a screaming buy a few days ago huh? Oh well.. I'm still holding DSX, long term hold for me. Hope your trade worked out to your liking.
I'm having mixed success with my trades. Mostly day trades. Just too volatile out there. Every day there's some news that pulls the market one way or the other.
Oh well.. not sure where we're headed from here.

How are your trades coming along? anything good?

AJ.
 
hey now...

well looks like i was about a day premature on DSX but i still think i can get a lower entry. we'll see.

i dunno man, i don't see anything bullish in the market right now. looks to me like a snap back rally in a down trend so i'm looking at only shorts/puts for this week. everything seems to be running into resistance and some of these have a lot of steam that could be let out. here's what i'll be watching this week:

PLCN
KLAC
NILE
BBT
MMM
AA
FDX
BEN
MBT

i will probably do more observing than anything else. i liked it better when the market direction was UP and we could just buy calls, basically anywhere, wait a month and collect the profit. i think that's probably what got us in this mess so we'll take what we can get.

what are you thinking for the week ahead?

j.M
 
oh, one more thing, a long:

ALXN on a pull back

j.M
 
j.M,
Thanks for sharing your watchlist. Yep, a lot of stocks look like they could be running into resistance. Still hard to tell for sure though. We'll see what next week brings.
Sorry abt the Pats.
Aj.
 
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