Thursday, April 22, 2010
Good Afternoon Stockhoppers, I am writing this about an hour after the close, and after looking at the charts and how the market reacted today I am going to say we are going to have a good day tomorrow. Anyone interested in getting in on Ford Stock? May not be a bad time. Take a look at the Ford Chart above. It is hitting on resistance of and finished near the days high. I am calling it a buy if it hits 14.30 and it should tomorrow. Another good sign......look at the 13 day exponential moving average!! it is getting ready to cross up and over the 21 day exponential moving average!! that is very good news for the buyers.
The Dow Jones chart is looking like it is also ready to tread into new territory as well. Again look at the Dow chart. It is up against its resistance but bounced off the 13 day EMA and the 21 day EMA. Look for follow through on Friday. 12000 here we come.
Until next time...........Watch your Charts
Wednesday, April 21, 2010
Good Morning Stockhoppers and what a good morning it is turning out to be for the major markets and our spot light stock.....Ford, As I told you in a rare afternoon blog, that I bought 700 shares of Ford stock at 13.77 and it was tuned up for another good day today...well it is doing just that. As of this blog it is up near its high of the day around 14.14. What do we need to watch for now? Lets take a look at the Ford stock chart above. Notice that it is reaching a short term resistance level. So depending on your trading strategy, you may want to watch closely to see if it will bust through this resistance or bounce off resistance and pull back and rest before it makes its next push.
Notice the 21 day exponential moving average. It has flat lined which may mean a little pull back. The good news look at the 13 day exponential moving average,it is getting ready to cross up,over the 21 day EMA,very bullish signal here.
Now just as importantly lets take a look at the Dow Jones Industrial Average. Its is moving along nicely up the 13 day and 21 day exponential moving averages. Notice in the chart above that it is running into a little short term resistance at around 11150. Very similar chart to that of Ford. Overall market looks steady and strong.
I hope all your trades are are going great! and until next time....Study the Charts!!
Tuesday, April 20, 2010
I bought into ford (f) at 13.77. Reason? Take a look at the chart. Ford is riding the 21 day exponential moving average. The 13 day exponential moving average is just now pointing up and getting ready to cross the 21 EMA. This stock could explode tomorrow, seriously. Again I trade short term. Looking for short term explosions like the one I believe will happen tomorrow with Ford stock. I did have my eye on GE but after careful analysis of the charts I shifted gears and went with Ford stock. Keep an eye out and until next time.....watch your charts!!!
Good morning Stockhoppers, Its Tuesday morning and all is well with the major markets. Looking at the Dow Industrial Chart this morning it looks like we will see a bounce off the 13 day exponential moving average. No surprise here it has done this several times in the last month(take a look at the chart). It is a good time to select your favorite stock that you have been tracking. I am thinking 11,200 here real soon!
Lets take a look at GE(I am currently short this stock at 17.93)I will be reversing my position if it does indeed bounce off the 13 day exponential moving average, which it looks like it is ready to do. So I will take my loss and move on, hopefully only to recoup it in the next couple of sessions. NOTE I am not chasing this stock. The chart is setup and telling me that it has a very good chance that it will indeed bounce off the 13 day EMA, otherwise I would be looking elsewhere to move my money.
As for Ford Stock, I see that this stock has not decided as of yet which way it is going. Look at the chart. It is just kind of consolidating a bit, meaning to me that traders are really undecided on the position they want to commit to ford. The good news is that it is showing support around 13.30. and notice the 13 day exponential moving average. It is forming an under belly of support and ready to move upward. Watch for the upward cross over of the 21 day exponential moving average, this will be a very bullish signal.
Until next time.......Keep Watching those charts!!!
Thursday, April 15, 2010
Good Morning Stockhoppers, Market showing strength again. All you have to do is read the stock charts and it tells us that this stock market is on a very steady climb in a upward direction.
Today we may see a slight pullback but I would not expect nothing drastic. It will probably come back to the 13 day exponential moving average and then continue its climb upward. At this point the market is very predictable.
If you read my blog yesterday you would have read that I was right on the nose in regard to ford stock, it did break out of its penant formation in an upward direction. Look at the Ford Stock Chart. Broke out nicely. Now what we have to watch today is if Ford stock will bounce back off the 21 day exponential moving average or will it get on top of the average. If if gets on top today that will signal a very bullish sign....stay tuned.
Until next time......Happy Stock Charting!!
Tuesday, April 13, 2010
Hello Stockhoppers I wish I could tell you why the market is climbing steady but surely, it actually looks rock solid, moving in a very quiet yet strong upward direction. Setting new high after new high and looking to do so AGAIN tomorrow. The whole stock market atmosphere seems just quietly optimistic, not getting to excited. That is what the stock market index charts are telling me. I believe if you are scanning the stock charts you can find some pretty good solid buys out there.
Take a look at the Stock Index Charts. Not too exciting just solid gains. Look how it is following the 13day exponential moving average. It looks like it will continue in this trend for at least the next couple of trades. This market definitely looks like it is a runner in a cross country race, just pacing itself. That all can change as we all know all too well. All the sudden the Stock Market may see itself as a sprinter, thus exhaust itself and fall back. For now looooking good! Yet I am very nervous about this market.
Ford stock is currently in a crossroads. I would say modestly optimistic. It very well could break out of its pennant shape tomorrow in a upward direction. I called that it would get down as low as 12.25 about a week and half ago. It sank to 12.34. I will not be bullish on Ford until it gets on top of the 21day exponential moving average, or even maybe the 13 day exponential moving average. You risk takers out there may try and guess the turn around........not me.
I am currently out of the Money with my short position with GE. I may be out tomorrow if it breaks above 19.13 I will let you know how that comes out. I still see some inconsistency with the latest gains. It seems to lose ground at the end of the day, for now I hold my short position. Well I am sorry this is so boring, but lets face so is the broad market right now.
Until next time.......Happy Stock Charting!!!
Friday, April 9, 2010
Good Morning Stockhoppers, The major indexes are looking pretty good today. It looks like the Dow will bounce off the 13 day ema. 11000 is definetly in sight now. Take a look at the Dow chart. It went down to the 21day ema yesterday to move bounce back above the 13day ema, this morning it went to the 13 day ema and looks to be ready to move upward.
As you all know I follow Ford stock very closely. I have made many dollars following the ups and downs of Ford(mostly ups here lately)but I would be very cautious of purchasing this stock and if I currently owned it, I would be watching very closely as I feel it could retreat here within the next few trading sessions. The Reason, simple, the 13 day ema has just crossed downward across the 21 day ema.
Another reason is that during the recent market up days Ford has not been rebounding as it should. Use today for example. Market is up around 35pts, Ford is barely hanging on to gains, around .04. That shows weakness. I will stick with my recent prediction that Ford stock will see 12.25 with the next stop being around 12.00.
Hope all your trades are profitable and until next time....Happy Stock Charting!!
Thursday, April 8, 2010
Hello Stockhoppers, The Dow is taking a little time off here as traders look to be taking some money out and are a little nervous about the 11000 mark. The Dow chart is showing this morning that there is not alot to be alarmed about. It has not broke down its short term resistance nor is it down to the 21day ema as of yet. These are the two criteria that I am following right now to gauge the sentiment of this market.
As Far as Ford stock goes, take a look at the stock chart. It is, up to this point doing exactly what I blogged about a couple of days ago. I said it will hit 12.25 with a chance of 12.00. Keep watching this stocks 13day and 21 day ema, as you can see it is crossing in a downward direction with the 13day crossing down over the 21day, a very short term bearish sign for Ford stock. Part of what the stock chart is telling us is that other auto stocks are coming out with decent to good news, so traders in this sector are buying else where.
My active trade is (I shorted 500 shares of GE at 17.93)I am holding that position as it is under the 13day ema and should at least go to the 21day ema. I am watching this position very closely. If I see a better opportunity here and Ge starts new trend I will liquidate the positon and take the small loss. That is all for now
and until next time..........Happy Stock Charting!!
Thursday, April 1, 2010
Good Morning Stockhoppers, Today is really going to be somewhat of a wash. Pre-Holiday trading usually is. Should see a up day today,again due to the Easter holiday. Did you know that on the last trading day before Christmas that there has not been a down trading day in the market for I do not know how long(can someone could tell me the exact stat), I have made a good share of money on the last trading day before Christmas. It is kind of a unwritten law, this will also hold true for the Easter holiday(even though I do not know the exact stat), the market always seems to be in a good mood before the big holidays, so take advantage of that little stat.
The major indexes should see a rebound off the the 13day exponential moving average. As you can see by the DJI index chart there is consolidation,with a slightly negative tone. Now I will say this, if the market does have a down day today,BEWARE, I am not an alarmist by any means, I just read the charts to gauge the mood of the market and if the market is in a bad mood today in what is traditionally suppose to be a good mood day, well that gives me a strong signal of what could be coming. Really the market could have an up day today and still show a negative trend,what I mean if it goes below yesterdays low and does not go higher than yesterdays high than I will still consider this market to be showing a negative tone. I do not try to predict too far into the future, I take it day to day, in todays market, I think you have to.
Ford stock as I predicted yesterday BEFORE the open is showing weakness. It gaped down yesterday, now today we could possibly see it cover that gap, but do not be fooled by that Easter Bunny behind the curtain, it will take a few good up days before the trend reverses. Ford stock is now trading below both the 13day and 21day exponential moving averages, before I will consider purchasing this stock it must be sitting on top of these averages.
As far as my active trade in shorting GE, I am still slightly out of the money, although much less than I was yesterday as it continues to show weakness. I shorted at 17.93 and how I decide whether or not I am going to stick with it or cover it is I ask myself would I short this stock today? the answer to that question is yes I would.
Well that is all for now I hope you all have a great Easter Holiday and ....Happy Charting!!!