Wednesday, March 31, 2010

Could Dow hit 11000 today? Watch Ford

Good Morning Stockhoppers, Well today will be another one of those pivotal days for the market. You know looking at the Dow chart it really looks like it is ready to spike upward. Take a look at the consolidation , moving higher than the previous session but the key here it is not making new lows. This market may be getting the spring fever!! I do believe the market has been resting and is ready to hit that 11000 mark.

Now a little different story for those of you holding Ford stock or thinking about buying it, again take a look at the stock chart. The major indexes, although moving just modestly upward here the last couple of days, Ford stock is moving lower, not a good sign, the stock chart is showing weakness and looks like it is ready for a correction. If it makes a new low today and ends up near its new low today, you stockhoppers looking to get in may be able to around the 12.25 market, do I dare say 12.00? Keep an eye on Ford, a buying opportunity is around the corner
That is all for now....Until next time Happy Stock Charting!!!

Tuesday, March 30, 2010

Market Resting or Exhausted

Hello Stockhoppers, Well tell me is the market just taking a little rest or is it exhausted and ready to retreat? After all it has climbed a big hill with the DJI approaching the 11000 mark, just when you think it is going to break out, it falls back. Now as you can see by the DJI index chart it has had several areas of minor consolidation, the current one being the most extensive of the three areas. The thing that concerns me most is that it is also moving farther away from the 13day and 21 day exponential moving average(you know these are the only indicators you really need to trade the major indexes)which means what? the market will soon retreat back to these levels where we wait to see whether it will bounce off these levels or continue in the downward trend.

My current position is with GE I am short this stock at 17.93 I am a little out of the money right now but the reason I have not covered this position is because if you were to ask me if I would still short this stock as of even three days ago I would still say yes. I do believe it is showing short term weakness, check out the chart. By the way watch Ford and wait for its rebound off the averages.

That is all for now until next time....Happy stock charting!!!

Thursday, March 25, 2010

Stock Market Signaling Downturn?

Hello Stock Hoppers, Well today was definitely a tale of two sides. Up early down late. Matter of fact up significantly today(over 100pts)end of day was a different story, losing most all of its gains, matter of fact the S & P500 did finish in the red. What is the charts trying to tell us here short term? I believe that we are in for a mini correction back down to the 21day ema. I am looking at below the 10700 mark. Lets face it the market has had a nice run up and really we do not want to see this market just continue to skyrocket, what goes up hot and heavy usually comes down alot harder and faster. So a small downturn is not only probable here but for the most part very healthy.

I am currently short GE at 17.93, it has gone against my thought here the last couple of days but looks like it is going to retract, so I am going to stick with it. I only purchased 500 shares so I am willing to hold it as long as I see some short term weakness,...which I do see it coming here the next couple of days.

As soon as I see the averages come back down to the 13 day and 21 day exponential moving averages, I will be posting the stocks that will take full advantage of the bounce back. Look at my recent blogs and check some of my other picks when the market bounced. They did pretty well, I think you will agree.

Well that is all for now .......Until next time Happy Stock Charting!!

Monday, March 22, 2010

Todays Stock Charting Check 3-22-10

Good Morning Stock Hoppers, Looks like after the news of the new health plan being passed that the market is going to show its displeasure, but here is a good example of how charting works. Look a the DJI index chart. If you knew absolutely nothing about that congressional vote you could look at the chart and see that the DJI has reached its recent high last week and is looking a little tired and is probably going to retreat today and start a new resistance level of around 10,750.....lets see if I am going to be correct, we will follow it daily. Its funny how this works but it does. Thats what I mean when in recent blogs I talk about how the stock chart does tell the story. That does not mean that there is not news that can absolutely rock the markets,as in the case of 9/11 but these are far and few between and there is not an stock advisory out there that can predict those.

As far as my active trade GE I am looking for a break below 17.90(remember I shorted this stock last week)to confirm its downtrend. You can see from the chart that this is a pivotal day for GE as it is showing indecision on whether or not it can stay at its run up level.

Well to say the very least it is going to be a real interesting day on Wall Street today. Don't get caught up in all the emotional mumbo jumbo though,what ever your position is. Stay true to your stock charts and what they are telling you. For today I think I will just hang on to my shorts... pun intended. So until next time...Happy Stock Charting!!!

Friday, March 19, 2010

Todays Stock Chart Check

Good Morning Stock Hoppers, Just dropping a note on my on yesterdays decision to short GE at 17.92, although it finished the day at 18.19 the chart shows me that even when the major index was up yesterday, GE could not make a new high, I am still seeing short term weakness here as it should continue in a short term downward direction. I am thinking somewhere in the neighborhood of 16.90. The major index keeps plodding along in an upward direction, I did say look out for a pullback here very soon, but maybe it has to spike upward first before we see that pullback.

As for my other active trades HCBK and TER, I will give a weekend profit report on those stocks after today, currently they are both in the money!!! Until next time Happy Stock Charting!

Thursday, March 18, 2010

Todays Stock Market Check-Profiting From TER

Good Morning Stock Hoppers, It was a good day yesterday my read on TER was right on the MONEY, looking for a little follow through today and will then take profit. I will be watching it closely.

The thing that has me thinking PULLBACK is that so many stocks are too far above the 13day and 21day EMA. Things will pull back here shortly. So to put my money where my mouth is I did put in an order this morning to sell short 500 shares of GE at a break down below 17.92, the reason...... it has screamed so high so quickly that there should be profit taking and an easement back down to the moving averages. I will let you know how that goes.

Take a look at my HCBK trade will be taking profit from there today as well, that has been an excellent trade. Well until next time....Happy Charting!!

Daily Stock Market Check-Profit From T

Daily Stock Market Check-Profit From T

Wednesday, March 17, 2010

Putting In A Buy Order Today

Good Morning Stock Hoppers, Not much time this morning but I alway like to let everyone know if I put in an order, so today I am letting you know that I place an order to buy 1000 shares of TER with a stop-limit order of 10.72. Take a look at the chart. I believe that it will bounce off the averages. I have to keep it short this morning. Until next time....Happy Stock Charting!

Tuesday, March 16, 2010

Todays Stock Market Check

Good Morning Stock Traders, Interesting day today. I am a little nervous about buying any stock today. The DJI looks poised for gains today, but it is getting further away from its 13day and 21day exponential moving averages which always put me on alert for a pull back in the next day or two, so I will set on the sidelines and wait until the index chart gives me a little more confidence to get in. As you can see by the DJI chart the market looks ready to move forward this morning, the big question is will it be there at the end of the day........I am not so sure it will. Until next time Happy Stock Charting!!!!

Friday, March 12, 2010

My Daily Stock Watch

Good Morning Stock Chartists,

Well its the end of another trade week and the Dow is breaking out of a little flag consolidation and is sitting on top of its resistance as you can see by the chart. The market does not look real comfortable at this level, as it seems to be retracting to its lows and staying within the resistance level, traders have to be a little careful here that we do not have a false breakout.

I did put in an buy order this morning for MU but it missed my trigger because it gapped up. I had a stop-limit order in at 9.72 and it opened today at 10.10, so I missed that one but I am sure not going to chase it. I settled out of a trade yesterday that I had held since 1/21/10(As I usually do not hold them that long). It was MBI I bought in at 5.30 and I sold yesterday at 5.95, I will take the $650.00 gain. I will be looking for my next trade over the weekend. I hope all your trades are doing well today. Until next time......Happy Stock Charting!!!

Tuesday, March 9, 2010

Major Index Ready for Slight Pullback?

Good Morning, Take a look at the Dow Index Chart this morning. What is it telling you? To me it looks like we could be in for some retraction downward, heading back down to the Exponential moving averages today. Probably not a good day to purchase stock. It looks like it is going to fall back below the upper resistance level. So I am not even looking to purchase anything today.
As far as my active stocks. HCBK and NSM were both up yesterday midst a down market, that is always a good sign!! and they are both still hugging their moving averages in an upward trend, whether or not they will weather today's market will yet to be seen. Notice these stock charts as well. They are both still in a channel, there could be a good buying opportunity for these stocks when they break out, usually they will continue in that same direction for a few days, and if you position yourself correctly that is all you need to make a nice profit!! Remember I do not try to pick tops or bottoms, I will take my profit out of the middle then look for my next trade.
Until next time ....Happy Stock Charting

Monday, March 8, 2010

Daily Stock Chart and Profit Check

Good Morning, and welcome to another exciting week of stock trading. The Dow saw its chart break through a major resistance point last week, the question is now will we see follow through or will it pull back a bit, either way the Dow had a good week last week and even though we may see it pull back and touch the 21day and 13day ema today, it still is in a very nice uptrend and it looks like it may be ready to challenge the 10700 mark here soon.
As far as my active trades go HCBK is trading in a channel still (as you can see by the chart), I bought this stock at 13.27 so I am showing a little gain here but I am looking for it to bust out of the channel and head up toward the 14.00 mark.

NSM is my other active trade I purchased this stock at 14.87 so as you can see I am a little down on this trade, but the good news is that it looks like it is ready to break out of its little trading channel, as it is hugging the 13day and 21day ema. I am looking for it to move to upwards of 15.35 level.
That is it for today and until next time....Happy Stock Charting!!!

Friday, March 5, 2010

Stock Chart Check 3-5-10

Happy Friday everyone, I will get right to it. Looks like the market is ready and poised to go bust through the mini resistance level today. Market did receive some good news yesterday, but like I say all you really have to do is read the chart and it will tell you what is going on. I am looking for a good follow through day today as I believe the stock market will head toward its upper resistance level.
As for my active trades-HCBK and NSM there charts look alot alike, trading in narrow channels but staying on top of their respective 13 day and 21 day exponential moving averages. Looking for upward momentum in both these stocks today. I hope all your trades are going in the direction you want them to and until next time......... Happy Stock Charting

Wednesday, March 3, 2010

Market hit first resistance level

Good Morning, Yesterday the market went up and hit the mini resistance level, after finishing near its low yesterday it may be ready to retreat back to the 13day and the 21 day ema.before it makes a push toward the upper resistance level. If we see a breakout it will be very good news today.

My individual stock recommendations from yesterday, pretty much followed yesterdays trend with the exception of FITB, it posted a .30 gain, so if you were in on that one, you did well. If you day traded any of my recommendations you also hopefully did pretty well, as they all saw early gains before they followed the market at days end.

Until next time.........Happy Stock Charting!!!!

Tuesday, March 2, 2010


Good Morning, I was one out of two yesterday. I thought the Dow would bounce off its averages and it did, and more than likely will continue its uptrend today. Take a look at the chart (above). There is a mini resistance point where it has consolidated a bit and a higher resistance level. Looks like it will at least go up and hit its first resistant point today, we will read the chart tomorrow to see if it will follow through to its upper level.
For my active stock, well it looks like it may go back and touch its support level, it had a false breakout as you can see by the stock chart(right). There was no alarming news on the stock, so I do expect it to bounce off resistance and start its way back up........just taking a little longer than I wanted it to.
Today I am purchasing a 1000 shares of NSM on a breakout level of 14.87 if it does not reach there I will not buy, reading the stock chart it looks poised to do so. The 13 day ema is crossing over the 21 day ema. Another good sign is that it closed at its highest point yesterday. The only thing I am worried about is that it will gap up too far at the open today and I will miss my order entry. I am looking for it to reach the 15.40 level.
Other stocks that look good today(so check out the stock charts on these) are in no particular order: cfn @26.19,cien@14.90,s@3.49,nvda@16.96,duk@16.59,ek@6.07,wmb@22.12,amd@8.31,erts@16.99 and fitb@12.34. Remember I lead all my stocks that I purchase meaning it has to continue its upward momentum and trigger the trade.
Hope you find a winner today and until tomorrow......Happy Stock Charting!!!

Monday, March 1, 2010

Daily Stock Chart Check-New Buying Opportunity?

Good Morning and Welcome to March, time to think SPRING!! Lets Hope the Dow springs off its 13 day and 21 exponential moving average today. Even though we have a bit of a downtrend(as I predicted last week)the Dow chart is still not in bad shape, trading on top of its averages. I believe it is ready to bounce back starting today. Read the chart it is all there. I am waiting for a new buying opportunity to present itself,most likely this week somtime, stay tuned.
As for my active trade HCBK(bought at 13.27) it is looking very good. As you can see it broke out of its little consolidated pennant(a flag like consolidation formation) see the two horizontal trend lines? this would also have presented a very good buying signal on this breakout. I am looking for this stock to reach 13.75 here in the next couple of days, again I am just reading the stock chart and I do watch the daily news on it just to make sure there are not any bomb shells that would drastically make it turn south.
REMEMBER I will let you know when I am buying and selling and more importantly what signals the stock chart is giving me to execute a trade.
Until tomorrow........Happy Stock Charting!!