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Category Archives: General Info
Rockwood Holdings breaks out
ROC broke out yesterday through $74.55 and it is trading at fresh highs. I see a cup and handle pattern with its lowest price around $66. The possible measured move gives me a target of $83 (74.55 – 66 = … Continue reading
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Will Molycorp fill the gap?
Very strong price action on Molycorp (MCP) today which negated a potentially bearish head and shoulder formation. It is meeting very strong selling above $5.55, but it would be a very bullish sign if it breaks above this level and … Continue reading
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DryShips ganing strength
DryShips (DRYS) found support around $3.20 and has been moving higher for the past few days. There are sellers coming in at $3.70 at the moment which is preventing a gap fill from the sharp drop on January 24th. I … Continue reading
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Molycorp back at long term support
Molycorp (MCP) gave back all of the gains it racked at the beginning of the year. It retraced all the way back to $4.55 where it has found strong support in the past. After Friday’s bounce, resistance is looming around … Continue reading
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Bank of America holding up well
Bank of America (BAC) has been holding up well compered to the overall market and the financial sector in general. It is important to pay attention to the leaders in sectors that are under pressure and focus on those stocks … Continue reading
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Short target reached. Emerging Markets
The final target for my short position on the Emerging Markets was reached yesterday. I closed my position on the EUM (Short EEM ETF.) We’ll now have to see if the EEM finds price stability around this level of support.
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Buying fear
The market is set for a gap open lower this morning after disappointing earnings reports from Amazon and Google last night. I would like to take a quick trade this morning. Gap opens into support often reverse within the first … Continue reading
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Many stops triggered, but short EEM working
I’ve written a few times in my journal that a good way to mitigate risk is to hedge long positions by shorting the weakest markets. A few of my stop loss orders were triggered during this down turn and made … Continue reading
Scary drop in gold yesterday. CME halted for a few seconds
Gold prices dropped very fast for a few seconds yesterday morning – about $30 per once- to the point that the CME halted trading for about 10 seconds (From CNBC Reuters.) The spike lower can be appreciated on the 1 … Continue reading
Strength in a weak market
Nobody likes it when the markets takes a tumble like yesterday (Except the bears of course) But among the weakness, you can easily spot the stronger stocks and focus your long position. The bubble map from finviz.com below shows clearly … Continue reading
