Thursday, May 27, 2010
Stock Charts Scary.......TLAB in play
Good Morning Stockhoppers, I hope you are surviving all the turbulence of this market. Yesterday I liquidated my Ford stock at 11.75 ...even though it is pointing up this morning in pre-market trading, I just do not like the chart formation on it,most stocks will cover a gap which I do expect will happen with Ford(see the gap on chart above). Many stocks are moving toward their 13 exponential moving average.
After reviewing the many stocks from the S & P 500 I seen one that stood out to me. TLAB, check out the chart above. The 13 day exponential moving average is ready to cross up over the 21 exponential moving average and has held up pretty well during this mini crash, I put my order in to trigger at 8.95.
The over all market still looks very shaky, they say things over in Europe are the cause of this, along with several other factors but just continue to watch your charts and the 13 day ema and 21 day ema they will not misguide you.
Until next time.....Chart wisely today!!!