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Monthly Archives: December 2013
Baidu Holding above the 50 DMA
I remain bullish on Baidu (BIDU) as it holds above the 50 DMA and gets ready to attempt breaking above $176 – $180. I think that $200 is acting like a magnet, but will probably not come without chop. The … Continue reading
Adding Molycorp to my watch list
Molicorp’s (MCP) chart printed a double bottom pattern on Dec. 17 and followed through with a large jump in price last Friday. Volume was very high and the stock looks like it wants to go to $6 and perhaps $7. … Continue reading
Dryships Could Double Next Year
Dryships (DRYS) has been my most profitable position this year and it looks like it could double next year. It will most likely encounter supply in the short term around $5, but the charts show that price could go to … Continue reading
US Steel continues
US Steel (X) had a very strong day yesterday in continuation of its ascent towards $33. It follows the investment theme that an economic recovery will push basic materials stocks higher. On Balance Volume continues to be strong and I … Continue reading
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Stronger Dollar?
With the Fed starting to taper bond purchases, I expect the US Dollar to gain strength and perhaps commodities to weaken. So I am keeping an eye on the Powershares US Dollar Bullish ETF (UUP) for price confirmation. The chart … Continue reading
Gold Drops!
Here is the drop in gold (GLD) below $117, but expect some buyers to come in again around $114. If and when that breaks, the fall can easily reach $100 in short order. I’m playing this short via GLL adjusting … Continue reading
Goldman Sachs Breaks Out!!
Goldman Sachs (GS) finally broke out yesterday with conviction. It now needs to hold above $172 to confirm the move, but I wouldn’t be surprised if price came down to $170 before resuming its ascent to $200. On Balance Volume … Continue reading
Treasury Bonds Under Pressure
The 20+ year Treasury Bond ETF (TLT) is under pressure and it is getting close to break down the $102 support that has held since August. The 50 Moving Average has become resistance and the On Balance Volume has flattened … Continue reading
Visa Confirms Break
Visa (V) is following through on its break out today as it moves above $207.On Balance Volume shows that there is accumulation of this stock. An entry here with a stop just below $206 offers a good Reward / Risk
GM continues
General Motors continues its ascent. It provided an opportunity to add more around $40 last Friday just before it ripped higher. This morning it continues to move higher as it breaks out of a “Flag Pole” type pattern despite the … Continue reading
