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Monthly Archives: March 2014
Agriculture ETF continues higher
DBA, the PowerShares agriculture ETF continues to move higher. It found support around $27.80 a last week and has been moving higher even on such a weak tape. I started a new position around $28.35 with a target of $30. … Continue reading
Molycorp loses momentum
Looks like the bulls are leaving Molycorp (MCP) for now. I don’t have a position and won’t deploy any cash until I see where it finds solid support. It needs to hold above $4.55 to avoid triggering a monster head … Continue reading
Baidu finds temporary support
Buyers of Baidu (BIDU) are stepping in around $155 and I am dipping my toes for a very quick trade. I have an initial target of $160 and ultimately $165 where I expect sellers to come in again. I plan … Continue reading
Bank of America, another failed pattern
Yet another failed break out as Bank of America (BAC) gave back last week’s gains in the previous two sessions. It appears to have found support around $17.30 for now while sellers lurk around $17.60. Holding above $17.60 would be … Continue reading
Molycorp sellers step in
On Friday, sellers pushed down shares of Molycorp (MCP) after it attempted to break to the upside from a five day pennant. It sold off quickly as sellers stepped in around $5.20. Shares are now trading below $5, but may … Continue reading
Molycorp getting ready to move
Molycorp (MCP) has been on a pennant pattern for a few days (see 60 min chart) that could resolve today. It could move either way, so patience is key here. If it resolves up, I expect sellers to come in … Continue reading
Bank of America moves higher while market lowers
Bank of America (BAC) tested its March 5th break out level and rallied on a weak market. This is very bullish for the stock. It printed an inverse head and shoulders pattern (5 min chart) yesterday that needs to be … Continue reading
Baidu Fails Again
I was stopped out of my position on Baidu (BIDU) as it first failed to hold above $180 and subsequently broke down below $167 invalidating the inverse head and shoulders pattern. It is set to open a bit higher today, … Continue reading
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Baidu Stuck in Range
Seems like Baidu (BIDU) needs to gather more strength before moving higher. It is set to open just above $180 today, but it remains to be seen if it is able to hold that level. For now $176 is acting … Continue reading
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Bank of America Continues Higher
Bank of America (BAC) broke out from a triangle pattern last Tuesday with a very strong follow through Wednesday. It pulled back a bit Friday but held above $17.20 that was prior resistance in January. I expect some consolidation to … Continue reading
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