Saturday, May 10, 2008

 

Some thoughts...

It's been a while since I last posted, and I'm sure I've already lost the very few readers that I had, but oh well...

The market's been acting well the past few weeks, and people are wondering whether this is a bull rally in a bear market or if this actually is the real thing. As always, no one knows.

When I began to write this post, I thought I'd have a lot of good charts, but could only come up with one. I took a look at some oil, steel, coal related stocks, most of them are making all time highs, so they could be due for a pullback. But I've put some alerts in my trading account, since I feel that if they continue climbing, a short squeeze will ensue. I've always visited Tim's site, since you can learn a lot of TA stuff from there, but this post, in which he gives his readers an idea of what his stops are on some of his positions, will give you a good idea of where the shorts will start covering their positions. I've got most of these stocks on my watchlist.

Here's one chart that I found interesting. IBM, this looks that it could break out above 125.



Good luck with your trades, and feel free to share your ideas.

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Comments:
Enjoyed reading your posts. I dig the growth stocks you are looking at like APPL & GS.
 
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