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A followup on RIMM, Research in Motion from 1/29 At $64.60. At the time RIMM had just jumped across the 20 day on an increase in volume and was looking like a buy. Friday 2/5/10 RIMM closed at $67.75 up 4.88%. Scroll down a bit to see the original chart.
Now I will grant you that 4.88% Isn't a huge move in 6 days, but who knows if RIMM will move higher or not. The moral of the story, if there is one is that the buy signal was there, even though the market has been all over the place, to mostly down. Emotions can take over and keep you out of a lot of good trades, not to say that sitting on the sidelines with cash is a bad thing.
Research In Motion @ $64.60 looks like a buy. A nice higher low in
place, jumped up over the 20 day moving average on an increase in
volume, and Stochastic is curling around to show a buy signal. Looks
good to me with a stop order at $60.39, or will the overall market drag
RIMM down.
 Rough day in the market today. Click the reel for a short video.
A 30 day chart of the S & P 500, pretty brutal unless you were short the market.
The following is a chart of the financial Index, trading in one big trading range. It looks like 13.50 is the line in the sand. If the Bulls can't muster some kind of rally off that trend line, it could be a real change in direction for the overall market.
Here's A little reading material from our friends at Elliott Wave.
I looked at charts for hours thinking there must be a clue to the coming weeks market direction. Well, I couldn't find anything other then it seemed Friday was heavy handed. Meaning stocks dropped a lot more then they should have for a mild little sell off. Anyway, when a red flag like that shows up it pays to be aware of it.
This is a sixty day chart of the S & P 500. It is still within the rising channel but even if the trend line was broken it looks like decent support in the 1,100.00 area. I don't see anything Bearish in this chart for now, but that can change quickly.
This is an awesome Chart Pattern Break Out. You can see the break out day, a two day pullback to test the trend line and it looks like CSCO is off to the races or at least $27.50. Are you finding and trading Break Outs like Cisco Systems? If the answer is no, why not Sign Up For $19.95 A Month.
Did you buy this break out? Just asking because it was a Spot Light Stock highlighted for our members that opened at $9.82 on Monday and is up 22.51%. It doesn't take many trades like this to pay for a subscription. Sign Up today for $19.95 a month
It looks like the Bulls have a firm grip on the S and P 500 for now. In fact it looks like 1,228.52, or 92 points to the up-side is within reach. There are a ton of reasons for this market to fall apart, and there are just as many people waiting for that event to buy into this market.
The old saying is "The market climbs a wall of worry" and that is what it appears to be doing.
Did you buy this Triangle Break Out, or are you just now seeing it for the first time. Our subscribers saw this chart as a Spot Light Stock on 12/18 at $20.34 the day it broke out. Click Here and sign up for $19.95 a month. Start trading something that makes sense, Chart Pattern Break Outs.
Are we on the cusp of a melt up? A huge short covering rally? OK, maybe just a nice clean break out of a small trading range. Either way it appears to be Bullish to the next Fibonacci Level.
If you are nimble you can make money in this market , get Long near the bottom of the range with a tight stop, and Short the top of the range with a tight stop. Either way its a tough market that both sides (Bears and Bulls) can make a claim for. Personally, I don't really care what they are arguing about, be it the Dollar or Obama's Health Care. I think its important to filter out the noise and look at the chart for what it is, A big trading range.
An old Fuddy Duddy index that is up big time. I guess dividends are attracting a lot of buyers, as it is setting new yearly highs. Check out the next chart to see what came up on the Top 5 Long list and was high lighted as a Spot Light Stock. We have been pounding the table on dividends (mostly REITS) for a while now. I don't mean to harp on this but if you are missing out on trades like these, to sign up is $19.95
SO Southern Company and member of the Dow Jones Utility index. This stock broke out of a triangle pattern at $32.00 and we made it a Spot Light Stock the day it broke out. Simply Beautiful..........
If you are not finding stocks or are spending a lot of time doing the research you really owe it to yourself to sign up for $19.95 a month and start trading some Chart Pattern Break Outs.
The SPX has been stuck in a small trading range for a couple weeks and now could be the time it makes another run at new highs.
A look at REITS and Long Term Capitol Gains with a couple that look like investments. Click the reel.
12/01/2009 Yesterday MU Micron broke out of a Triangle Pattern and was our Spot Light Stock for today. As you can see it took right off this morning and finished the day up over 5%. If you are looking for Chart Pattern Break Outs to trade, go to the Membership Button on the menu and see what we are offering. Todays move in Micron could have paid your months subscription rate.
A great looking Head and Shoulder Pattern that looks like it is ready to start the decline to lower prices. This came up on the Top 5 Shorts list yesterday and again today, with a target down at $7.32. Check out the Membership Button on the menu to sign up for a month and see if pattern trading is for you.
The following chart is a perfect example of what you get when you register for the Top 5 Long and Short Lists. We highlighted this stock the day it broke out. Not every stock acts so perfectly but this is what we search for each and every day. Sign up today if you are interested in Chart Pattern Break Outs.
Charts courtesy of Prophet Financial Systems, www.prophet.net
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