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Category Archives: General Info
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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Celgene Continues Higher
Celgene Corporation (CELG) broke out last Friday and today it is continuing to move higher. It is setting new 52 week highs with this move. I want to participate on this move with a stop just below $160 and letting … Continue reading
Bank of America Continues Higher
BAC had a strong day yesterday that confirmed the break out last Tuesday along with the financial sector. I don’t see any significant supply in the chart until about $16.80 or so with my ultimate target of $20. Keeping my … Continue reading
More upside for CME today
CME Group continues to move up this morning, reversing bearish trading action yesterday afternoon. It shows how hard it is to be short this market. Specially the financial sector.
Posted in General Info, Risk Management, Trade Analysis
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Metlife showing signs of life!
Metlife (MET) bounced of the 50 DMA last Friday on heavy volume. It has been trying to move above strong supply around $50 since august. A bull flag pattern is forming on the 60 min chart that can help me … Continue reading
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Japan ETF up against resistance
The iShares MSCI Japan ETF (EWJ) has been struggling to get past $12.30 since June this year. The trend is still solidly upward as seen in the daily and weekly charts. It is another example of stocks that will soon … Continue reading
Utilities ETF uptrend still intact
The Spider Utilities ETF (XLU) has recently pulled back and it is stuck in a triangle pattern. The 200 and 50 DMAs are still trending higher. Considerable supply came in at $41 back in in May with all the “Taper … Continue reading
GM Consolidating at Top
The chart for General Motors (GM) shows an amazing two year run that is taking a pause near its all time highs (for the new GM that is.) The company reported strong sales a couple of days ago, still it … Continue reading
Citygroup’s chart shows great potential
Citigroup has been stuck in a trading range since April this year. It encountered resistance around $50 back in August 2008, April 2010 and January 2011. What is interesting on the chart this time is that the 200 DMA has … Continue reading
BTU Pebody Energy Showing Signs of Life Again
After a huge drop that lasted over two years, Pebody Energy (BTU) is beginning to show signs the sell off may be over. However, it reached a price range where it had been stuck before for months ($18.55 – $19.45) … Continue reading
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