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Category Archives: Trade Analysis
EEM Short Trade Triggered
Sometimes you have to be patient for price to come back to where an entry makes sense. The MSCI Emerging Markets ETF (EEM) just offered a low risk, high reward short entry for me. As I discussed in a previous … Continue reading
US Dollar continues to strengthen
One of my main investment themes for the year is the strengthening of the US Dollar. This thesis is based on a couple of fundamental factors coming into play this year: Fed Tapering and the US economy’s relative strength in … Continue reading
Baidu Holding the line
Baidu (BIDU) pierced through $182 yesterday and held above the Jan 3rd highs printing a flagpole pattern. It is poised to open above $182 today which should take us closer to the $200 target. Still holding my long position with … Continue reading
A Short Idea- EEM
Showing relative weakness for several months and a couple of bearish chart patterns, the MSCI Emerging Markets ETF (EEM) is a good short idea. Any bounce toward the $40 area most likely will be met with supply. My initial target … Continue reading
Citigroup is next
Citigroup (C) is trying to break out above $54 following the lead of other banks. It had a very strong day Friday and it is supported by the relative strength in the financial group. The prices in the chart indicate … Continue reading
Dicks Sporting Goods Tests and is moving higher
DKS Reversed hard at the end of December to test its previous break out price around $54 a couple of times, but it held and it is now moving higher. We’ll see if sellers still come in around $58.40 where … Continue reading
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
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
