Month: February 2008

The charts below have a 5 day moving average- orangeVWAP since 75 bp rate cut- purple horizontalkey support- greenkey resistance- red The financials appear to be flirting with a more serious break down below support which could lead to a test of the lows in that sector. If such a break were to come it … Read More

is the stock on WALLSTRIP today.

continues and the buyers persistance is impressive. Remember, it is not the break that matters as much as the subsequent action. If you are long or contemplating a buy past resistance be sure to have an exit strategy in mind if the break out materializes and then fails to hold.

to a friend who is skiing today, I am jealous. Look at all the snow, 130% of average snowpack! The good news is that the snowpack doesn’t peak for another 6 weeks on average.

I mentioned this stock in yesterdays video as one which looked poised for a move past resistance. I also suggested that the worst case stop should be placed just under 7.20 If you are involved in the stock I would sell at least half the position near curent levels and move the stop to breakeven … Read More

has left a lot of traders with losses and a feeling of DEPRESSION Do not force trades. If the market isn’t providing you with good trading opportunities it is sending you a message to go slow. Cash is a a position which give you clarity for when easier trading conditions reveal themselves.